Question 16 Chapter 3 – Unimax Publications of Class 11

Question 16 Chapter 3 – Unimax Publications of Class 11

16 Prepare the accounting action from the following:
(i)  Started business with cash Rs. 6,00,000.
(ii) Purchased Machinery Costing Rs. 1,00,000 plus CGST 9% and SGST 9%.
(iii) Paid telephone bill Rs. 6,000 plus CGST 9% and SGST 9%.
(iv) Purchased goods from other state worth Rs. 80,000 plus IGST 18%.
(v) Purchased goods worth 40,000 plus 9% CGST and 9% SGST.
(vi) Sold goods casting Rs. 60,000 for Rs. 80,000 in other state plus IGST 18%.
(vii) Purchased stationery worth Rs. 8,000 plus 12% IGST.
(viii) Sold goods casting Rs. 40,000 for Rs. 50,000 to other state plus IGST 1896.

The solution of Question 16 Chapter 3 – Unimax Publications of Class 11:

Transactions	Assets						Liabilities	+ Capital
	Cash	+Stock	+Input CGST	+Input SGST	+Input IGST	+Stock	+Output IGST
1. started business with cash 6,00,000 .	+6,00,000							6,00,000
2. Purchased machinery costingRs.1,00,000 plus CGST 9% and SGST 9%.	- 1,18,000	1,00,000	+9000	+9000				0
3. Paid telephone bill Rs. 6,000 plus CGST 9% and SGST 9%	-7,080	+0	+540	+540				6,000
4. purchased goods from another state worth RS. 80,000 plus IGST 18%.	-94,400	+0	+0	+0	+14,400	+80,000		0
5. Purchased goods worth 40,000 plus 9% CGST and 9% SGST.	-47,200	+0	+3,600	+3,600	+0	+40,000		0
6. Sold goods costing Rs. 60,000 for Rs. 80,000 plus 12% IGST.	+94,400	+0	+0	+0	+0	-60,000	+14,400	+20,000
7. Purchased Stationary worth Rs. 8,000 plus 6% CGST and 6% SGST	-8,960	+0	+480	+480	+0	0	0	-8,000
8. Sold goods costing Rs. 40,000for Rs. 50,000 to other state plus IGST 18%.	+59,000	+0	+0	+0	+0	-40,000	+9,000	+10,000
	4,77,760	+1,00,000	+13,620	+13,620	14,400	20,000	23,400	6,16,000
	6,39,400						6,39,400