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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Prepare a Two-Column Cash Book from the following transactions in the books of Sumant, Kochi for January 2024:
Note: Kochi is in Kerala. CGST and SGST @ 6% each apply on intra-state (within Kerala) transactions; IGST @ 12% applies on inter-state transactions.
| Date | Transaction |
|---|---|
| Jan. 1 | Opening Balances: Cash ₹1,000; Bank ₹14,500. |
| Jan. 1 | Received advance by cheque ₹60,000. |
| Jan. 2 | Withdrew from Bank ₹10,000. |
| Jan. 3 | Purchased goods from Amit ₹13,000 plus CGST and SGST @ 6% each; paid by cheque. |
| Jan. 4 | Paid Wages ₹2,500. |
| Jan. 5 | Received from Mohan a cheque for ₹9,800 against due of ₹25,000. |
| Jan. 8 | Mohan's cheque deposited in Bank. |
| Jan. 14 | Purchased stationery for cash ₹1,500 plus CGST and SGST @ 6% each. |
| Jan. 16 | Bought goods including IGST @ 12% — ₹6,720. |
| Jan. 19 | Issued cheque to Shyam ₹3,700. |
| Jan. 20 | Drew from Bank ₹3,000. |
| Jan. 22 | Cash drawn from bank for personal use ₹2,000. |
| Jan. 24 | Cash Sales including CGST and SGST @ 6% each ₹1,904. |
| Jan. 27 | Received from Rakesh ₹18,000; Discount Allowed ₹500. |
| Jan. 28 | Deposited cash into Bank ₹15,000. |
| Jan. 28 | Issued cheque for purchases including IGST @ 12% ₹2,240. |
| Jan. 30 | Paid rent ₹2,000 by cheque plus CGST and SGST @ 6% each. |
In the Books of Sumant, Kochi
Two-Column Cash Book
Dr
| Date | Particulars | L.F. | Cash (₹) | Bank (₹) |
|---|---|---|---|---|
| Jan. 1 | To Balance b/d | 1,000 | 14,500 | |
| Jan. 1 | To Advance Received A/c | — | 60,000 | |
| Jan. 2 | To Bank A/c (C) | 10,000 | — | |
| Jan. 8 | To Cheques in Hand A/c | — | 9,800 | |
| Jan. 20 | To Bank A/c (C) | 3,000 | — | |
| Jan. 24 | To Sales A/c | 1,700 | — | |
| Jan. 24 | To Output CGST A/c | 102 | — | |
| Jan. 24 | To Output SGST A/c | 102 | — | |
| Jan. 27 | To Rakesh A/c | 18,000 | — | |
| Jan. 28 | To Cash A/c (C) | — | 15,000 | |
| Total | 33,904 | 99,300 |
Cr
| Date | Particulars | L.F. | Cash (₹) | Bank (₹) |
|---|---|---|---|---|
| Jan. 2 | By Cash A/c (C) | — | 10,000 | |
| Jan. 3 | By Purchases A/c | — | 13,000 | |
| Jan. 3 | By Input CGST A/c | — | 780 | |
| Jan. 3 | By Input SGST A/c | — | 780 | |
| Jan. 4 | By Wages A/c | 2,500 | — | |
| Jan. 14 | By Stationery A/c | 1,500 | — | |
| Jan. 14 | By Input CGST A/c | 90 | — | |
| Jan. 14 | By Input SGST A/c | 90 | — | |
| Jan. 16 | By Purchases A/c | 6,000 | — | |
| Jan. 16 | By Input IGST A/c | 720 | — | |
| Jan. 19 | By Shyam A/c | — | 3,700 | |
| Jan. 20 | By Cash A/c (C) | — | 3,000 | |
| Jan. 22 | By Drawings A/c | — | 2,000 | |
| Jan. 28 | By Bank A/c (C) | 15,000 | — | |
| Jan. 28 | By Purchases A/c | — | 2,000 | |
| Jan. 28 | By Input IGST A/c | — | 240 | |
| Jan. 30 | By Rent A/c | — | 2,000 | |
| Jan. 30 | By Input CGST A/c | — | 120 | |
| Jan. 30 | By Input SGST A/c | — | 120 | |
| Jan. 31 | By Balance c/d | 8,004 | 61,560 | |
| Total | 33,904 | 99,300 |
Feb. 1 — Balance b/d: Cash ₹8,004 | Bank ₹61,560
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| Jan. 5 | Cheques in Hand A/c Dr. To Mohan A/c (Being cheque of ₹9,800 received from Mohan against dues of ₹25,000) | 9,800 | 9,800 | |
| Jan. 27 | Discount Allowed A/c Dr. To Rakesh A/c (Being discount of ₹500 allowed to Rakesh on receipt of ₹18,000 against dues of ₹18,500) | 500 | 500 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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