Question 3: Journalise the following in the books of Amit Saini, Gurugram
(Haryana):
(i) Goods of `5,000, out of
goods purchased within the state, were taken by him for personal use.
(ii)
`2,000 due from Sohan
were bad debts.
(ii)
Goods of `6,000 were destroyed by fire and were
not insured. These goods were purchased from outside the state.
(iv)
Paid
4,000 in cash as wages on installation of machine. (GST is not to be levied.)
(v)
Sold goods to Arjun of Delhi of list price `20,000.
Trade discount @ 10% and cash discount of 5% was allowed. He paid the amount on
the same day and availed the cash discount.
(vi)
Received
`2,000 from Ramesh,
whose account was written off as bad debts.
(vii)
Goods costing `1,000 given as charity. These goods were
purchased from within the state.
(viii)
Received `9,750 from Ramesh
in full settlement of his account of `10,000.
(ix)
Paid rent in advance `4,000.
CGST
and SGST is to be levied on intra-state sale @ 6% each
and IGST 12% on inter-state sale.
Answer:
|
JOURNAL OF AMIT SAINI, GURUGRAM
(HARYANA) |
|||||
|
Date |
Particulars |
|
L.F. |
Dr. (`) |
Cr. (`) |
|
(i) |
Drawings
A/c To Purchases A/c To Input CGST A/c To Input SGST A/c (Being
the goods withdrawn for personal use, GST reversed) |
Dr. |
|
5,600 |
5,000 300 300 |
|
(ii) |
Bad Debts
A/c To Sohan (Being
the bad debts recorded) |
Dr. |
|
2,000 |
2,000 |
|
(iii) |
Loss of
Goods by Fire A/c To Purchases A/c To Input IGST A/c (Being
the goods lost by fire, IGST reversed) |
Dr. |
|
6,720 |
6,000 720 |
|
(iv) |
Machinery
A/c To Cash A/c (Being
the wages for installation of machine paid) |
Dr. |
|
4,000 |
4,000 |
|
(v) |
Cash A/c Discount
Allowed A/c To Sales A/c To Output
IGST A/c (Being
the inter-state sale of goods for cash) (WN) |
Dr. Dr. |
|
19,152 900 |
18,000 2,052 |
|
(vi ) |
Cash A/c To Bad Debts
Recovered A/c (Being
the bad debts recovered) |
Dr. |
|
2,000 |
2,000 |
|
(vii) |
Charity
A/c To
Purchases A/c To Input
CGST A/c To Input
SGST A/c (Being
the goods given as charity, GST reversed) |
Dr. |
|
1,120 |
1,000 60 60 |
|
(viii ) |
Cash A/c Discount
Allowed A/c To Ramesh (Being
the cash received and discount allowed) |
Dr. Dr. |
|
9,750 250 |
10,000 |
|
(ix) |
Advance
Rent A/c Input
CGST A/c Input
SGST A/c To Cash A/c (Being
the advance rent paid) |
Dr. Dr. Dr. |
|
4,000 240 240 |
4,480 |
Question 4: Journalise the following transactions in the books of
Mohan, Delhi:
(i) Raj of Alwar, Rajasthan who
owed Mohan 25,000 became insolvent and received 60 paise
in a rupee as full and final settlement.
(ii)
Mohan owes to his landlord
`10,000
as rent. GST payable @ 6% each.
(iii)
Charge depreciation of 10% on furniture costing `50,000.
(iv)
Salaries
due to employees `20,000.
(v)
Sold to Sunil goods in cash of `10,000 less 10%
trade discount plus CGST and SGST @ 6% each and received a net of `8,500
plus CGST and SGST.
(vi)
Provided interest on capital of `1,00,000 @ 10% per annum.
(vii)
Goods lost in theft `5,000, which were purchased paying IGST
@ 12% from Alwar, Rajasthan.
Answer:
|
JOURNAL
OF MOHAN, DELHI |
|||||
|
Date |
Particulars |
L.F. |
Dr. (`) |
Cr. (`) |
|
|
(i) |
Cash A/c Bad Debts A/c To Raj (Being the cash received and
bad debts recorded) |
Dr. Dr. |
|
15,000 10,000 |
25,000 |
|
(ii) |
Rent A/c Input CGST A/c Input SGST A/c To Outstanding Rent A/c (Being the outstanding rent) |
Dr. Dr. Dr. |
10,000 600 600 |
11,200 |
|
|
(iii) |
Depreciation A/c To Furniture A/c (Being the depreciation
charged) |
Dr. |
5,000 |
5,000 |
|
|
(iv) |
Salaries A/c To Outstanding Salaries A/c (Being the outstanding salaries
to staff) |
Dr. |
20,000 |
20,000 |
|
|
(v) |
Cash A/c Discount Allowed A/c To Sales A/c To Output CGST A/c To Output SGST A/c (Being the goods sold for cash,
GST charged) (WN) |
Dr. Dr. |
9,520 500 |
9,000 510 510 |
|
|
(vi) |
Interest on Capital A/c To Capital A/c (Being the interest on capital
provided) |
Dr. |
10,000 |
10,000 |
|
|
(vii) |
Loss of Stock by Theft A/c To Purchases A/c To Input IGST A/c (Being the loss of goods by
theft, Input IGST reversed) |
Dr. |
5,600 |
5,000 600 |
|
|
Working
Note: |
|
|
(Transaction V) |
` |
|
List
Price |
10,000 |
|
Less: Trade Discount
(10%) |
1,000 |
|
|
9,000 |
|
Less: Cash Discount
(5%) |
500 |
|
|
8,500 |
|
Add: Output CGST |
510 |
|
Output
SGST |
510 |
|
Invoice
Value |
9,520 |
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Ts Grewal Solution 2024-2025
Class 11th
Chapter 12 – Accounting of Goods and Services Tax (GST)