Question No 9 Chapter No 10 - T.S. Grewal 11 Class

Question No 9 Chapter No 10

Prepare Two-Column Cash Book from the following transactions of Mani, Kochi :

2018
Mar.1	Cash in hand Rs15,000; cash at Bank Rs 5,000
Mar.3	Purchased goods for Cash Rs 6,720 including CGST and SGST @ 6%p.a, received a discount of Rs 220
Mar.5	Deposited into bank Rs 5,000
Mar.7	Cash sale Rs 10,000 Plus CGST and SGST @6% each
Mar.10	Cash is withdrawn from bank for office use Rs 2,000
Mar.15	Received three months post-dated cheque of Rs 20,000 from Raj and deposited in the bank on the same day, discounted from bank paying discounting charges Rs 750
Mar.18	Received cheque from Deepak for Rs 5,000 (not banked), allowed discount Rs 200
Mar.20	Cheque received from Deepak deposited in Bank
Mar.22	Paid to Chandra by Cheque Rs 2,500; received discount Rs100
Mar.25	Withdrew from bank personal use Rs 1,000
Mar.28	Sold goods on credit to Ashok Mitra, Kolkata Rs 10,000, charged IGST@12%
Mar.30	Purchased goods on credit from Chander, Delhi Rs 20,000, paid IGST@12%
Mar.31	Received cheque from Ashok Mitra Rs 5,000 and deposited in the bank, allowed cash discount Rs 200

The solution of Question No 9 Chapter No 10: - 

In the Books of Mani, Kochi

Dr.	Cash Book								Cr.
Date	Particulars	L.F.	Cash	Bank	Date	Particulars	L.F.	Cash	Bank
Mar. 2018					Mar. 2018
1	To Bal. B/d		15,000	5,000	3	To purchase A/c*		5,780
5	To Cash A/c	C		5,000	3	By Input CGST A/c		360
7	To Sale A/c*		10,000		3	By Input SGST A/c		360
7	To Output CGST A/c		600		5	By Bank A/c	C	5,000
7	To Output SGST A/c		600		10	By Cash A/c	C		2,000
10	To Bank A/c	C	2,000		22	By Chandra A/c			2,500
15	To Raj A/c			19,250	25	By Drawing A/c			1,000
20	To cheque in hand A/c			5,000
31	To Ashok Mitra A/c			5,000	31	By Balance C/d		16,700	33,750
			28,200	39,250				28,200	39,250

All transactions which are highlighted with (*) are explained as following as follows: -

*Mar.3 Purchased goods for Cash Rs 6,720 including CGST and SGST @ 6%p.a, received a discount of Rs 220

In this transaction, we will calculate the amount of CGST and SGST @ 6% each with help of following formula because the total amount is given. It means it includes the amount of CGST & SGST.

Total Amount X  Rate(CGST or SGST)

100 + Rate of CGST + Rate of SGST

 

6,720 X 6

100 + 6 + 6

 

40,320

112

Amount of GST  =Rs. 360/-  each

and subtract the amount of discount received of Rs. 220/-. So, total payable will be

  = Total Invoice amount – CGST – SGCST – Cash Discount

  = 6720-360-360-220

  = 5,780/-

*Mar.30 Cash sale Rs 10,000 Plus CGST and SGST @6% each

The calculation of Amount of CGST and SGST @ 6% each
10,000 * 6% = 600/- 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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Also, Check out previous Chapters: -

• 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

 

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication