Question No 03 Chapter No 6

Question No 03 Chapter No 6

03.Pass entries in the books of Ganguli & Sons. assuming all transactions have been entered in the state of West Bengal:

(i)Purchased goods for 2,00,000 and payment made by cheque.
(ii)Sold goods for 1,60,000 to Devki Nandan & Sons
(iii)Sold goods for 1,60,000 to Devki Nandan & Sons
(iv)Paid for printing and stationery 4,000.
(v)Received for commission 5,000.
(vi)Output GST adjusted against Input GST

 

The solution of Question No 03 Chapter No 6: –

In the Books of Radhika Traders
DateParticulars
L.F.DebitCredit
2019     
iPurchases A/cDr. 5,00,000 
 Input CGST A/cDr. 45,000 
 Input SGST A/cDr. 45,000 
 To Cheque A/c   5,90,000
 (Being Purchased from Mehta Bros.)   
     
iiDevki Nandan & Sons A/cDr. 1,79,200 
 To Sale A/c.  1,60,000
 To Output CGST A/c   9,600
 To Output SGST A/c   9,600
 (Being Sold goods to Devki Nandan & Sons)   
      
iiiPurchases A/cDr. 5,00,000 
 Input CGST A/cDr. 30,000 
 Input SGST A/cDr. 30,000 
 To Creditor A/c  5,60,000
 (Being Purchased goods on credit)   
     
ivPrinting & Stationery A/cDr. 30,000 
 Input CGST A/cDr. 2,700 
 Input SGST A/cDr. 2,700 
 To Cash A/c   35,400
 (Being Purchased office furniture.)    
      
vCash A/cDr. 5,600 
 To Commission Received A/c   5,000
 To Output CGST A/c   300
 To Output SGST A/c   300
 (Being Interest received)    
      
Mar.31Output CGST A/cDr. 9,900 
 Output SGST A/cDr. 9,900 
 To Input CGST A/c   9,900
 To Input SGST A/c   9,900
 (Being Input tax credit availed.)    
     

Input CSGT Balance = Rs 5,340
Input SSGT Balance = Rs 5,340

 

 

How to make Journal Entries in Accounting – Explanation

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Also, Check out the solved question of all Chapters: –

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Chapter 1 Evolution of Accounting & Basic Accounting Terms

Chapter 2 Accounting Equations

Chapter 3 Meaning and Objectives of Accounting

Chapter 4 Double Entry System

Chapter 5 Books of Original Entry – Journal 

Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)

Chapter 7 Books of Original Entry – Cash Book (Coming soon)

Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)

Chapter 9 Ledger (Coming soon)

Chapter 10 Trial Balance and Errors (Coming soon)

Chapter 11 Bank Reconciliation Statement (Coming soon)

Chapter 12 Depreciation (Coming soon)

Chapter 13 Bills of Exchange (Coming soon)

Chapter 14 Generally Accepted Accounting Principles(GAAP) 

Chapter 15 Bases of Accounting

Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)

Chapter 17 Capital and Revenue 

Chapter 18 Provisions and Reserves 

Chapter 19 Final Accounts (Coming soon)

Chapter 20 Final Accounts – With Adjustments (Coming soon)

Chapter 21 Errors and their Rectification (Coming soon)

Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)

Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)

Chapter 24 Computerised Accounting System (Coming soon)

Chapter 25 Introduction to Accounting Information System (Coming soon)

 

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