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Question 11 Chapter 5 – Unimax Publications of Class 11

Posted by By Harveerjot Singh 9 Min Read May 18, 2022
Q11 - CH-5 Solution
Q11 - CH-5 Solution

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Question 11 Chapter 5 – Unimax

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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 20 Paid for advertisement Rs. 45,000 by cheque.
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:

JOURNAL OF SHRIYA TRADER

DateParticulars L.F.DebitCredit
2020     
May 1Purchases A/cDr. 7,20,000 
 Input CGST A/cDr. 64,800 
 Input SGST A/cDr. 64,800 
 To Abhi A/c   8,49,600
 (Being goods purchased from Abhi) (WNI)    
      
May 10Cash A/cDr. 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 20Advertisement A/cDr. 45,000 
 Input CGSTDr. 4,050 
 Input SGST A/cDr. 4,050 
 To Bank A/c   53,100
 (Being advertisement paid by cheque)    
      
May 22Bank A/cDr. 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 25Cash A/cDr. 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 20Purchases A/cDr. 1,50,000 
 Input CGST A/cDr. 13,500 
 Input SGST A/cDr. 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 20Output CGST A/cDr. 55,350 
 Output SGST A/cDr. 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 purchased9,00,000
 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 purchased1,50,000
 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 

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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.

This is all about the Question 11 Chapter 5 – Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples 

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Opening Journal Entry – its Rules and Examples – In Hindi

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Comment if you have any doubt in the Question 11 Chapter 5 – Unimax.

You can also Check out the solved question of other Chapters: –

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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