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Question No 21 Chapter No 7 - USHA Publication 11 Class

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Question No 21 Chapter No 7

21. Record the following transaction in the journal of R.Venkataraman and post it to the ledger:

Date
2018
Apr. 3	Commenced business with cash balance Rs 2,00,000 and bank balance Rs 3,00,000.
May. 18	Paid for stationery Rs 10,000 by cheque plus 6% CGST and SGST.
Jul. 17	Purchased goods costing Rs 80,000 plus 6% CGST and SGST from Radhakrishnan.
Aug. 24	Purchased goods costing Rs 40,000 plus 12% IGST in cash.
Sep. 28	Sold goods to Fakhruddin Ali for Rs 50,000 plus 6% CGST and SGST.
Nov. 12	Goods returned to Radhakrishnan costing Rs 6,000 ( goods were originally purchased at 6% CGST and SGST).
Dec. 26	Goods destroyed by fire Rs 20,000. Insurance company admitted the claim for RS 15,000( goods were originally purchased at 6% CGST and SGST).
2019
Jan. 16	Paid for foods and beverages Rs 8,000 plus 2.5% CGST and SGST for meeting with creditors.
Mar. 29	Paid lawyer’s fee Rs 12,000 and deposited 9% CGST and SGST to the Government’s Account.

The solution of Question No 21 Chapter No 7: -

Journal

Date	Particulars		Debit	Credit
2018
Apr.1	Cash A/c	Dr.	2,00,000
	Bank A/c	Dr.	3,00,000
	To Capital A/c			5,00,000
	(Being business started with cash and bank)

May. 18	Stationery A/c	Dr.	10,000
	Input CGST A/c	Dr.	600
	Input SGST A/c	Dr.	600
	To Bank A/c			11,200
	(Being bought stationery plus 6% CGST and SGST)

Jul. 17	Purchases A/c	Dr.	80,000
	Input CGST A/c	Dr.	4,800
	Input SGST A/c	Dr.	4,800
	To Radhakrishnan A/c			89,600
	(Being bought goods plus 6% CGST and SGST)

Aug. 24	Purchases A/c	Dr.	40,000
	Input IGST A/c	Dr.	4,800
	To Cash A/c			44,800
	(Being bought goods plus 12% IGST)

Sep.28	Fakhruddin Ali A/c	Dr.	56,000
	To Sale A/c			50,000
	To Output CGST A/c			3,000
	To Output SGST A/c			3,000
	(Being goods sold Fakhruddin Ali 6% CGST and SGST)

Nov. 12	Radhakrishnan A/c	Dr.	6,720
	To Purchases return A/c			6,000
	To Input CGST A/c			360
	To Input SGST A/c			360
	(Being goods sold Fakhruddin Ali 6% CGST and SGST)

Dec. 26	Goods destroyed by Fire A/c	Dr.	7,400
	Insurance Company A/c	Dr.	15,000
	To Purchases A/c			20,000
	To Output CGST A/c			1,200
	To Output SGST A/c			1,200
	(Being goods sold Fakhruddin Ali 6% CGST and SGST)
2019

Jan. 16	Referment A/c	Dr.	8,000
	Input CGST A/c	Dr.	200
	Input SGST A/c	Dr.	200
	To Cash A/c			8,400
	(Being cash paid for food and beverages plus 2.5% CSGST and SGST)

Mar. 29	Lawyer’s fee A/c	Dr.	9,000
	Input CGST A/c	Dr.	1,080
	Input SGST A/c	Dr.	1,080
	To Cash A/c			11,160
	(Being paid to lawyer’s fee and plus 9% CGST and SGST )

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Cash A/c				Cr.
2018			2018
Apr. 1	To Capital A/c	2,00,000	Aug. 24	By Purchases A/c	40,000
			Aug. 24	By Input IGST A/c	4,800
			Jan. 16	By Referment A/c	8,000
			Jan. 16	By Input CGST A/c	800
			Jan. 16	To Input SGST A/c	800
			2019
			Mar. 29	By Lawyer’s fee A/c	9,000
			Mar. 29	By Input CGST A/c	1,080
			Mar. 29	By Input SGST A/c	1,080
			Mar. 31	By Balance c/d	1,34,440
		2,00,000			2,00,000

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Capital A/c				Cr.
			2018
			Apr. 1	By Cash A/c	2,00,000
2019			Apr. 1	By Bank A/c	3,00,000
Mar. 31	To Balance c/d	5,00,000
		5,00,000			5,00,000

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Purchases A/c				Cr.
2019			2018
Jan. 24	To Radhakrishnan A/c	80,000	Dec. 26	By Goods destroyed by Fire A/c	5,000
			Dec. 26	By Insurance Company A/c	15,000
			2019
			Mar. 31	By Balance c/d	60,000
		80,000			80,000

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Bank A/c				Cr.
2018			2018
Apr.1	To Capital A/c	3,00,000	May. 18	By Stationery A/c	10,000
			May. 18	By Input CGST A/c	600
			May. 18	By Input SGST A/c	600
			2019
			Mar. 31	By Balance c/d	1,66,400
		3,00,000			3,00,000

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Fakhruddin Ali A/c				Cr.
2018			2018
Sep.28	To Sale A/c	50,000
Sep.28	To Output CGST A/c	3,000
Sep.28	To Output SGST A/c	3,000	2019
			Mar. 31	By Balance c/d	56,000
		56,000			56,000

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Radhakrishnan A/c				Cr.
2018			2018
Nov. 12	To Purchases return A/c	6,000	Jul. 17	By Purchases A/c	80,000
Nov. 12	To Input CGST A/c	360	Jul. 17	By Input CGST A/c	4,800
Nov. 12	To Input SGST A/c	360	Jul. 17	By Input SGST A/c	4,800
2019
Mar. 31	To Balance c/d	82,880
		89,600			89,600

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Referment A/c				Cr.
2018			2018
Jan. 16	To Cash A/c	8,000
			Mar. 31	By Balance c/d	8,000
		8,000			8,000

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Lawyer’s fee A/c				Cr.
2018			2018
Mar. 29	To Cash A/c	9,000
			Mar. 31	By Balance c/d	9,000
		9,000			9,000

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Stationery A/c				Cr.
2018			2018
May. 18	To Bank A/c	10,000
			Mar. 31	By Balance c/d	10,000
		10,000			10,000

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Input CGST A/c				Cr.
2018			2018
May. 18	To Cash A/c	600	Nov. 12	By Radhakrishnan A/c	360
Jul. 17	To Radhakrishnan A/c	4,800	Dec. 26	By Goods destroyed by Fire A/c	1,200
Nov. 12	To Cash A/c	200
Mar. 29	To Cash A/c	1,080
			Mar. 31	By Balance c/d	5,120
		6,680			6,680

Date	Particulars	Amount	Date	Particulars	Amount
Dr.	Input CGST A/c				Cr.
2018			2018
May. 18	To Cash A/c	600	Nov. 12	By Radhakrishnan A/c	360
Jul. 17	To Radhakrishnan A/c	4,800	Dec. 26	By Goods destroyed by Fire A/c	1,200
Nov. 12	To Cash A/c	200
Mar. 29	To Cash A/c	1,080
			Mar. 31	By Balance c/d	5,120
		6,680			6,680