Question 7 Chapter 5 - Unimax Publications of Class 11

Question 7 Chapter 5 – Unimax

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The solution of Question 7 Chapter 5 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

7. Journalise the following transactions in the books of Gobind
(i) Purchased goods goods for Rs. 50,000 (Intra State) and Paid GST 18%.
(ii) Sold goods for Rs. 80,000 (including Profit of 25%) and Charge GST @ 18% (Intra- State )
(iii) Purchase Machinery Costing Rs. 60,000 from (Intra State) and Paid (GST 18%).

The solution of Question 7 Chapter 5 – Unimax:

JOURNAL

Date	Particulars		L.F.	Debit	Credit

(i)	Purchase A/c	Dr.		50,000
	Input CGST A/c			4,500
	Input SGST A/c			4,500
	To Creditors A/c				59,000
	(Being goods purchased and Input CGST, SGST claimed)

(ii)	Debtor’s A/c	Dr.		94,400
	To Sales A/c				80,000
	To Output CGST A/c				7,200
	To Output SGST A/c				7,200
	(Being the sale made)

(iii)	Machinery A/c (Fixed Assets)	Dr.		60,000
	Input CGST A/c			5,400
	Input SGST A/c			5,400
	To Vendors A/c				70,800
	(Being Machinery purchased & Input CGST& Input SGST claimed)

This is all about the Question 7 Chapter 5 – Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples

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Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

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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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Question 7 Chapter 5 – Unimax Publications of Class 11

The solution of Question 7 Chapter 5 – Unimax:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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