# Question 11 Chapter 5 – Unimax Publications of Class 11

Question 11 Chapter 5 – Unimax

11. Enter the following transactions in the books of Shriya Traders. Assume CGST @ 9%
May 1 Purchased goods for Rs. 9,00,000 from Abhi at 20% .
May 10 Sold goods Rs. 4,50,000 on cash.
May 22 Sold goods for Rs. 1,50,000 and received a cheque.
May 25 Received commission Rs. 15,000
May 28 Purchased goods Rs. 1,50,000 C.D. @ 20%.
May 31 Payment made of balance amount of GST.

## The solution of Question 11 Chapter 5 – Unimax:

 Date Particulars L.F. Debit Credit 2020 May 1 Purchases A/c Dr. 7,20,000 Input CGST A/c Dr. 64,800 Input SGST A/c Dr. 64,800 To Abhi A/c 8,49,600 (Being goods purchased from Abhi) (WNI) May 10 Cash A/c Dr. 5,31,000 To Sales A/c 4,50,000 To Output CGST A/c 40,500 To Output SGST A/c 40,500 (Being goods sold for cash) May 20 Advertisement A/c Dr. 45,000 Input CGST Dr. 4,050 Input SGST A/c Dr. 4,050 To Bank A/c 53,100 (Being advertisement paid by cheque) May 22 Bank A/c Dr. 1,77,000 To Bank A/c 1,50,000 To Output CGST A/c 13,500 To Output SGST A/c 13,500 (Being goods sold by cheque) May 25 Cash A/c Dr. 17,700 To Commission A/c 15,000 To Output CGST A/c 1,350 To Output SGST A/c 1,350 (Being commission received) May 20 Purchases A/c Dr. 1,50,000 Input CGST A/c Dr. 13,500 Input SGST A/c Dr. 13,500 To cash A/c 1,41,600 To Discount received A/c 35,400 (Being goods purchased at C.D) (WN II) May 20 Output CGST A/c Dr. 55,350 Output SGST A/c Dr. 55,350 To Input CGST A/c 55,350 To Input SGST A/c 55,350 (Being G.S.T Adjusted)

Working Notes:

 1. List price of goods purchased 9,00,000 Less: Trade discount @20% 1,80,000 7,20,000 Add: CGST@ 9% 64,800 SGST@9% 64,800 8,49,600 2. List price of goods purchased 1,50,000 Add: CGST@ 9% 13,500 SGST@9% 13,500 1,77,000 Less: Cash discount@ 20% 35,400 1,41,600 3. Total Input CGST = Rs. 64,800+74,050 + 13,500 = Rs. 82,350 Total Input SGST = Rs. 64,800+ 4,050+ 13,500 = Rs. 82,350 Total Output CGST = Rs. 40,500 + 13,500 + 1,350 = Rs. 55,350 Total Output SGST = Rs. 40,500 + 13,500 + 1,3350 = Rs. 55,350

Note: Since Input GST is more than Output GST, there is no tax liability to be paid to the Government. Excess of Input GST is called Input Tax credit. It will be carried forward and will be adjusted in the next year.

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Opening Journal Entry – its Rules and Examples

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## Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

• Chapter No. 1 – Introduction of Accounting
• Chapter No. 2 – Theory Base of Accounting
• Chapter No. 3 – Vouchers and Transactions
• Chapter No. 4 – Journal
• Chapter No. 5 – Goods and Services Tax (GST) : An Introduction
• Chapter No. 6 – Ledger
• Chapter No. 7 – Special Purpose Book – Cash Book
• Chapter No. 8 – Other Subsidiary Books
• Chapter No. 9 – Trial Balance
• Chapter No. 10 – Rectification of Errors
• Chapter No. 11 – Depreciation
• Chapter No. 12 – Provision and Reserves
• Chapter No. 13 – Bank Reconlciliation Statement
• Chapter No. 14 – Bills of Exchange

Students may Choose only one part from the Part II and Part III

Part-II

• Chapter No. 15 – Financial Statements (Without Adjustments)
• Chapter No. 16 – Financial Statements (With Adjustments)
• Chapter No. 17 – Accounts from Incomplete Records – Single Entry System

Part-III

• Chapter No. 18 – Introduction to Compurters and Accounting information System
• Chapter No. 19 – Computerised Accounting
• Chapter No. 20 – Accounting Software : Tally
• Chapter No. 21 – Data Base System
• Chapter No. 22 – Concept of Entity and Relationship

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