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Question No 4 Chapter No 16 - T.S. Grewal 11 Class

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Question No 4 Chapter No 16

4. Manish sold goods to Kumar for 10,000 plus CGST and SGST @ 9% each. He received 1,800 in cash and drew on him a bill for 10,000 payable 3 months after date. Kumar accepted the bill and returned it to Manish. On the due date, Manish presented the bill to Kumar who honoured it. Pass Journal entries in the books of both the parties.

The solution of Question No 4 Chapter No 16: -

Books of Manish

Particulars		Debit	Credit

Kumar A/c	Dr	11,800
To Sales A/c			10,000
To Output CGST A/c			900
To Output SGST A/c			900
(Being goods sold plus IGST @18 )
Bills Receivable A/c	Dr.	10,000
Cash A/c		1,800
To Kumar A/c			11,800
(Being Bill received )
Cash A/c	Dr.	10,000
To Bills Receivable A/c			10,000
(Being Cash received against the bill )

Books of Kumar

Particulars		Debit	Credit

Purchases A/c	Dr	10,000
Input CGST A/c	Dr	900
Input SGST A/c	Dr	900
To A A/c			11,800
(Being goods bought plus CGST and SGST @9 )
Manish A/c	Dr.	11,800
To Bills Payable A/c			10,000
To Cash A/c			1,800
(Being Bill accepted )
Bills Payable A/c	Dr.	10,000
To Cash A/c			10,000
(Being Cash paid against the bill )

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Also, Check out the solved question of previous Chapters: -

Chapter No. 1 – Introduction to Accounting
Chapter No. 2 – Basic Accounting Terms
Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
Chapter No. 4 – Bases of Accounting
Chapter No. 5 – Accounting Equation
Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
Goods and Services Tax(GST)
Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
Chapter No. 8 – Journal
Chapter No. 9 – Ledger
Chapter No. 10 – Special Purpose Books I – Cash Book
Chapter No. 11 – Special Purpose Books II – Other Books
Chapter No. 12 – Bank Reconciliation Statement
Chapter No. 13 – Trial Balance
Chapter No. 14 – Depreciation
Chapter No. 15 – Provisions and Reserves
Chapter No. 16 – Accounting for Bills of Exchange
Chapter No. 17 – Rectification of Errors
Chapter No. 18 – Financial Statements of Sole Proprietorship
Chapter No. 19 – Adjustments in preparation of Financial Statements
Chapter No. 20 – Accounts from incomplete Records – Single Entry System
Chapter No. 21 – Computers in Accounting
Chapter No. 22 – Accounting Software – Tally
Chapter No. 5 - Accounting Equation
Chapter No. 6 - Accounting Procedures - Rules of Debit and Credit
Goods and Services Tax(GST)
Chapter No. 8 - Journal
Chapter No. 9 - Ledger
Chapter No. 10 – Special Purpose Books I – Cash Book