
Question No 13 Chapter.
Write the following transaction in the Cashbook of Premium Stores, Kolkata :
| 2018 | Rs | |
| Jan.1 | Commenced business with cash | 50,000 |
| Jan.2 | Opened Bank account and deposited cash in bank | 20,000 |
| Purchased goods in cash of Rs 5,000 plus CGST and SGST @6% each | 5,000 | |
| Jan.4 | Paid wages | 500 |
| Jan.6 | Cash sales of Rs 2,000 plus CGST and SGST @6% each | 2,000 |
| Purchased goods for Rs 10,000 plus CGST and SGST @6% each | ||
| Jan.10 | Sold goods of RS 4,000 plus CGST and SGST @6% each and payment received by cheque which is deposited in Bank ,allowed Cash discount of Rs 400 | |
| Received from Amit | 5,900 | |
| Allowed him discount | 100 | |
| Jan.15 | Paid to Bhaskar | 2,800 |
| Received discount | 200 | |
| Jan.18 | Purchased goods from Kanchan , Delhi of Rs 10,000 plus IGST12% | |
| Jan.20 | Goods were destroyed during transport company settled the claim for Rs 10,000 in full | |
| Jan.27 | Received cheque from the transport company | 10,000 |
| Jan.28 | Withdrew for office use | 5,000 |
In the Books of Premium Stores, Kolkata
| Dr. | Cash Book | Cr. | |||||||
| Date | Particulars |
L.F. | Cash | Bank | Date | Particulars |
L.F. | Cash | Bank |
|---|---|---|---|---|---|---|---|---|---|
| Jan. 2018 | Jan. 2018 | ||||||||
| 1 | To Capital A/c | 50,000 | 2 | By Bank A/c | c | 20,000 | |||
| 2 | To Cash A/c | c | 20,000 | 2 | By Purchase A/c | 5,000 | |||
| 6 | To Sale A/c | 2,000 | 2 | By Input CGST A/c | 300 | ||||
| 6 | To Output CGST A/c | 120 | 3 | By Input SGST A/c | 300 | ||||
| 6 | To Output SGST A/c | 120 | 4 | By Wages A/c | 500 | ||||
| 10 | To Sale A/c * | 3,600 | 6 | By Purchase A/c | 10,000 | ||||
| 10 | To Output CGST A/c | 240 | 6 | By Input CGST A/c | 600 | ||||
| 10 | To Output SGST A/c | 240 | 6 | By Input SGST A/c | 600 | ||||
| 10 | To Amit A/c | 5,900 | 15 | By Bhaskar A/c | 2,800 | ||||
| 27 | To Transport Company A/c | 10,000 | 28 | By Cash A/c | 5,000 | ||||
| 28 | To Bank A/c | 5,000 | |||||||
| 31 | By Balance C/d | 23,040 | 29,080 | ||||||
| 63,140 | 34,080 | 63,140 | 34,080 | ||||||
All transactions which are highlighted with (*) are explained as following as follows: -
*Oct. 2 Cash Sale Rs 60,000 plus CGST and SGST @6% each
The calculation of Amount of CGST and SGST @ 6% each
60,0000 * 12% = 7,200/-
*Oct. 9 Sale of goods of 10,000 plus CGST and SGST@6% each
The calculation of Amount of CGST and SGST @ 6% each
10,000 * 6% = 600/- each
*Oct. 18 Ramesh who owed Rs 5,000 became Bankrupt and Paid us 50 paise in a rupee
The calculation of the Amount of Bad Debts
5,000 X .50
2,500/-
*Oct. 27 Sold goods for Rs 11,000 Plus CGST and SGST @6% against Cash
The calculation of Amount of CGST and SGST @ 6% each
11,000 * 6% = 660/- each
*Oct. 28 Received a cheque for goods sold for Rs 9,000 plus CGST and SGST @6% each
The calculation of Amount of CGST and SGST @ 6% each
9,000 * 6% = 540/- each
To understand more about cash book please check out following links: -
https://tutorstips.com/cash-book/
https://tutorstips.com/single-column-cash-book/
https://tutorstips.com/double-column-cash-book/
https://tutorstips.com/triple-column-cash-book/
https://tutorstips.com/petty-cash-book/
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Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication
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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