4. Journalise the following transactions in the books of Mohan, Delhi: Raj of Alwar, Rajasthan who owed Mohan ₹25,000 became insolvent and received 60 paise in a rupee as full and final settlement. Mohan owes to his landlord ₹10,000 as rent. GST payable @ 6% each. Charge depreciation of 10% on furniture costing ₹50,000 Salaries … Read more
3. Journalise the following in the books of Amit Saini, Gurugram (Haryana): Goods of ₹5,000, out of goods purchased within the state, were taken by him for personal use. ₹2,000 due from Sohan were bad debts. Goods of ₹6,000 were destroyed by fire and were not insured. These goods were purchased from outside the state. … Read more
2. Journalise the following transactions in the books of Gupta Bros., Lucknow (UP): 2024 ₹ March 1 Started business with cash ₹30,000; goods of ₹15,000 and furniture of ₹20,000 March 2 Paid into bank 20,000 March 3 Bought goods from Mohan Bros., Lucknow on credit 7,000 March 4 Sold goods to Goyal Bros., Kanpur (UP) … Read more
1. Journalise the following transactions in the books of Gurman of Delhi: Sold goods to Krishna of Delhi at the list price ₹20,000 less trade discount 10% add CGST and SGST @ 9% each., and allowed cash discount 5%. He paid the amount immediately. Supplied goods costing ₹6,000 to Mohan of Kolkata issued invoice at … Read more
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