Question 12 Chapter 5 – Unimax Publications of Class 11

Q12 - CH-5 Solution

Question 12 Chapter 5 – Unimax

Free Accounting book Solution - Class 11 and Class 12

12. Pass entries in the books of Mandeep Rai of Punjab assuming CGST @ 9% and SGST @ 9%
2019
Oct. 1 Purchased goods for Rs. 7,50,000 from Prince of Haryana.
Oct. 3 Purchased goods for Rs. 75,000 from Hitesh of Punjab on cash.
Oct. 9 Sold goods Rs. 1,50,000 to Bhawna of Delhi to 10% T.D.
Oct. 10 Sold goods at Haryana Rs. 6,00,000 at 10% C.D.
Oct. 15 Paid for advertisement Rs. 15,000
Oct. 18 Purchased a computer for office use Rs. 60,000 and payment made by cheque
Oct. 20 Proprietor withdrew Rs. 30,000 for his personal use.
Oct. 25 Paid Salaries by cheque Rs. 30,000
Oct. 26 Paid electricity expenses Rs. 37,500
Oct. 27 Received commission Rs. 45,000
Oct. 28 Sold goods Rs. 1,50,000 for cash.
Oct. 29 Paid printing & stationery Rs. 15,000
Oct. 30 Payment made of balance amount of GST

The solution of Question 12 Chapter 5 – Unimax:

JOURNAL OF MANDEEP RAI

Date Particulars   L.F. Debit Credit
2019          
Oct. 1 Purchases A/c Dr.   7,50,000  
  Input IGST A/c Dr.   1, 35,000  
  To Prince A/c       8,85,000
  (Being goods purchased outside the state)        
           
Oct.3 Purchases A/c Dr.   75,000  
  Input CGST A/c Dr.   6,750  
  Input SGST A/c Dr.   6,750  
  To Cash A/c       88,500
  (Being goods purchased inside the state)        
           
Oct. 9 Bhawna A/c Dr.   1,59,300  
  To Sales A/c       1,35,000
  To Output IGST A/c       24,300
  (Being goods sold outside the state) (WNI)        
           
Oct. 10 Cash A/c Dr.   6,37,200  
  Discount allowed A/c Dr.   70,800  
  To Sales A/c       6,00,000
  To Output IGST A/c       1,08,000
  (Being good sold outside the state at C.D) (WNII)        
           
Oct. 15 Advertisement A/c Dr.   15,000  
  Input CGST A/c Dr.   1,350  
  Input SGST A/c Dr.   1,350  
  To Cash A/c       17,700
  (Being advertisement paid)        
           
Oct. 18 Office equipment A/c Dr.   60,000  
  Input CGST A/c Dr.   5,400  
  Input SGST A/c Dr.   5,400  
  To Bank A/c       70,800
  (Being computer purchased)        
           
Oct. 20 Drawings A/c Dr.   30,000  
  To Cash A/c       30,000
  (Being proprietor withdrew for personal use)        
           
Oct. 25 Salaries A/c Dr.   30,000  
  To Cash A/c       30,000
  (Being salaries paid)        
           
Oct. 26 Electricity Expense A/c Dr.   37,500  
  To Cash A/c       37,500
  (Being electricity bill paid)        
           
Oct. 27 Cash A/c Dr.   53,100  
  To Commission Received A/c       45,000
  To Output CGST A/c       4,050
  To Output SGST A/c       4,050
  (Being commission received)        
           
Oct. 28 Cash A/c Dr.   1,77,000  
  To Sales A/c       1,50,000
  To Output CGST A/c       13,500
  To Output SGST A/c       13,500
  (Being goods sold for cash)        
           
Oct. 29 Printing and Stationary A/c Dr.   15,000  
  Input CGST A/c Dr.   1,350  
  Input SGST A/c Dr.   1,350  
  To Cash A/c       17,700
  (Being printing& stationery paid)        
           
Oct. 30 Output IGST A/c Dr.   1,32,300  
  To Input IGST A/c       1,32,300
  (Being IGST adjusted) (WN III)        
           
  Output CGST A/c Dr.   17,500  
  To Input CGST A/c       14,850
  To Input IGST A/c       2,700
  (Being CGST adjusted) (WN IV)        
           
  Output SGST A/c     17,550  
  To Input SGST A/c       14,850
  To Bank A/c       2,700
  (Being SGST adjusted and payment of balance amount Paid) (WN V)        

Working Notes:

1. List price of goods Sold 1,50,000
  Less: Trade discount@ 10% 15,000
    1,35,000
  Add: IGST@ 18% 24,300
    1,59,300
     
2. List price of goods sold 6,00,000
  Add: IGST@ 18% 1,08,000
    7,08,000
  Less: C.D @ 10% 70,800
    6,37,200
     
3. First of all output IGST will be adjusted against Input IGST  
  Input IGST 1,35,000
  Less Output IGST (i.e 24,300+1,08,000= 1,32,300) 1,32,300
  IGST credit 2,700
     
4. This balance of Rs. 2,700 of 1GST credit will be first applied to set off CGST and the balance IF any will be applied to set off SGST  
  Total Output CGST (Rs. 4,050+Rs. 13,500) 17,550
  Less: Input CGST (6,750+1,350 +5,400 +1,350) 14,850
  amount adjusted against IGST credit 2,700
     
5. Total Output CGST (Rs. 4,050+Rs. 13,500) 17,550
  Less: Total Input SGST (6,750+1,350 +5,400 +1,350) 14,850
  Balance paid off 2,700

This is all about the Question 12 Chapter 5 – Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples 

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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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