10. Journalise the following transactions in the books of Gaurav: Sold goods to Saurabh of the list price of ₹1,00,000 Less trade discount of 10% with CGST and SGST @ 6% each, allowed cash discount 5%. Purchased machinery from Jalaj Machine Tools, Kolkata ₹5,00,000. Electricity Expenses for office ₹7,000 and for the residence of proprietor … Read more
9. Pass entries in the books of all parties in the following cases assuming CGST @6% and SGST @6%: 2023 March 1 Mahesh Chandra of Bihar purchased goods for ₹1,00,000 from Sunil Soren of Jharkhand and sold the same to Deepak Patnaik of Odisha for ₹1,50,000. March 5 Deepak Patnaik sold goods to Suresh Yadav … Read more
8. Pass entries in the books of Krishnan of Bengaluru (Karnataka) in the following cases: I Purchased goods from Karunakaran of Chennai for ₹1,00,000.(IGST @18%) II Sold goods to Ganeshan of Bengaluru for ₹1,50,000. (CGST @6% and SGST @6%) III Sold goods to S. Nair of Kerala for ₹2,60,000. (IGST @18%) IV Purchased Machinery for … Read more
7. Pass entries in the books of Sh. Jagdish Mishra of Lucknow (U.P.) assuming CGST @6% and SGST @6%: 2023 March 5 Purchased goods for ₹2,50,000 from Virender Yadav of Patna (Bihar). March 12 Sold goods costing ₹60,000 at 50% profit to Partap Sinha of Ranchi (Jharkhanad). March 14 Purchased goods for ₹70,000 from Ram … Read more
6. Pass entries in the books of Mr. Roopani of Gujarat assuming CGST @9% and SGST @9%. (i) Purchased goods for ₹2,00,000 from Suryakant of Jaipur (Rajasthan) on Credit. (ii) Sold goods for ₹1,50,000 to Mr. Pawar of Mumbai (Maharashtra) and the cheque received was sent to bank. (iii) Sold goods for ₹2,50,000 within the … Read more
5. Record the following transactions in the books of Sahdev & Sons assuming all transactions have been entered within the state of Bihar, Charging CGST and SGST @ 9% each. (i) Bought goods from Nanak Bros. for ₹4,00,000 at 10% trade discount and 3% cash discount on purchase price. 25% of the amount paid at … Read more
4. Pass entries for the following transactions in the books of M/s Karthikeyan & Co. of Chennai: 2022 June 10 Purchased goods from Ravichandran of Madurai of the list price of ₹2,00,000 at 25% trade discount at 4% cash discount on purchase price of goods. June 25 Sold goods to Ramalingam of Erode of the … Read more
3. Pass entries in the books of Ganguli & Sons. assuming all transactions have been entered in the state of West Bengal.: (i) Purchased goods for ₹2,00,000 and payment made by cheque. (ii) Sold goods for ₹1,60,000 to Devki Nandan& Sons. (iii) Purchased goods for ₹50,000 on credit. (iv) Paid for printing and stationery ₹4,000. … Read more
2. Pass entries in the books of Devdhar & Bros. Odisha, assuming all transactions have been entered within the state, charging CGST and SGST @ 9% each: 2023 March 4 Purchased goods for ₹5,00,000 from Sunil Bros. 7 Goods returned to Sunil Bros. for ₹20,000 10 Sold goods to Mehta & Co. for ₹8,00,000 12 … Read more
1. Pass entries in the books of Mukerjee & Sons. assuming all transactions have taken place within the state of Uttar Pradesh. Assume CGST @9% and SGST @9%. 2023 March 4 Purchased goods for ₹5,00,000 from Mehta Bros, March 10 Sold goods for ₹8,00,000 to Munjal & Co. March 15 Paid for advertisement ₹40,000 by … Read more