Question 6 Chapter 5 – Unimax Publications of Class 11

Q6 - CH-5 Solution

Question 6 Chapter 5 – Unimax

Free Accounting book Solution - Class 11 and Class 12

6.Journalise the following transactions in the books of Verma of Delhi:
(i) Paid Rs. 5,000 in cash as wages on installation of machinery.
(ii) Sold goods to Laxman of Delhi at the list price Rs. 20,000 less trade discount 10% add CGST and SGST@6% each, and allowed cash discount 5%. He paid the amount immediately.
(iii) Sold goods costing Rs. 60,000 to Sham of Kolkata issued invoice at 10% above cost less 5% Trade discount plus IGST 12%.
(iv) Goods valued at Rs. 2,500 distributed from stock as samples, as part of an advertising
campaign. These goods were purchased paying CGST and SGST @ 6% each.
(v) Ranjan , a customer, to whom goods were sold, was allowed rebate of Rs. 2,000 because they Were of poor quality. These goods were sold charging CGST and SGST@ 6% each.
(vi)Sold goods costing Rs. 1,00,000 to Vimal of Delhi at a profit of 25% on sales less 20% Trade Discount plus CGST and SGST@ 6% each and paid cartage Rs. 250 (Not to be charged from Customer).

The solution of Question 6 Chapter 5 – Unimax:

JOURNAL OF VERMA

Date Particulars   L.F. Debit Credit
           
(i) Machinery A/c * Dr.   2,50,000  
  To Cash A/c       2,50,000
  (Being the wages paid on installation of a machinery)        
           
(ii) Cash A/c (WN 1) Dr.   1,00,000  
  Discount Allowed A/c Dr.   22,000  
  To Sales A/c       22,000
  To Output CGST A/c       22,000
  To Output SGST A/c       80,000
  (Being the goods worth 20,000 sold, charged CGST and SGST 6% each, allowed 10% trade discount and 5% Cash discount)        
           
(iii)  Sham A/c Dr.   25,000  
  To Sales A/c       40,000
  To Output IGST A/c       40,000
  (Being the goods supplied of 66,000 (i.e., 60,000+ 10% Of 60,000 plus IGST 12%) allowed 5% trade discount (i.e., 66,000- 3,300))        
           
(iv) Advertisement A/c Dr.   22,000  
  To Purchases A/c       22,000
  To Input CGST A/c       22,000
  To Input SGST A/c       80,000
  (Being the goods distributed as free samples, Input CGST and Input SGST reversed)        
           
(v) Rebate A/c Dr.   6,000  
  Output CGST A/c Dr.   19,000  
  Output SGST A/c Dr.   40,000  
  To Ranjan A/c       40,000
  (Being the rebate allowed, Output CGST and SGST Reversed)        
           
(vi) Vimal A/c Dr.   22,000  
  To Sales A/c       22,000
  To Output CGST A/c       22,000
  To Output SGST A/c       80,000
  (Being the goods sold on credit, charging CGST and SGST 6% each)        
           
  Cartage Outwards A/c Dr.   4,500  
  To Cash A/c       80,000
  (Being the cartage paid)        

Note: Installation charge is a capital expenditure, thus, is debited to the Machinery Account not paid, it being wages paid, which is not subject to levy of GST.

This is all about the Question 6 Chapter 5 – Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples 

You Can also read all above articles in Hindi on our Hindi Website

Opening Journal Entry – its Rules and Examples – In Hindi

Thanks, Please Like and share with your friends  

Comment if you have any doubt in the Question 6 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

You can also Check out the other Books’ Solution: –

 

Leave a Reply

Your email address will not be published.