Question No 05 Chapter No 6

Question No 05 Chapter No 6

05.Record the following transactions in the books of Sahdev & Sons assuming all transactions have been entered within the state of Bihar, Charging CGST and SGST @ 9% each

(i)Bought goods from Nanak Bros. for 4,00,000 at 10% trade discount and 3% cash discount on purchase price. 25% of the amount paid at the time of purchase.
(ii)Bought goods from Nanak Bros. for 4,00,000 at 10% trade discount and 3% cash discount on purchase price. 25% of the amount paid at the time of purchase.
(iii)Received from Gopi Chand 38,000 by Cheque after deducting 5% cash discount.
(iv)Paid 20,000 for rent by Cheque
(v)Paid 20,000 for rent by Cheque
(vi)Goods worth 10,000 distributed as free samples
(vii)5,000 due from Chanderkant are bad-debts.
(viii)Sold household furniture for 15,000 and the proceeds were invested into business.


The solution of Question No 05 Chapter No 6: –

In the Books of Radhika Traders
iPurchases A/cDr. 3,60,000 
 Input CGST A/cDr. 32,400 
 Input SGST A/cDr. 32,400 
 To Cash A/c   1,03,014
 To Nanak Bros. A/c   3,18,600
 To Discount Received A/c   3,186
 (Being Purchased from Mehta Bros.)   
iiKumar & Sons A/cDr. 75,520 
 Bank A/cDr. 1,07,616 
 Discount Allowed A/cDr. 5,664 
 To Sale A/c.  1,60,000
 To Output CGST A/c   14,400
 To Output SGST A/c   14,400
 (Being Sold goods to Munjal & Co..)   
iiiBank A/cDr. 38,000 
 Discount Allowed A/cDr. 2,000 
 To Gopi Chand A/c  40,000
 (Being Paid for advertisement.)   
ivRent A/cDr. 20,000 
 Input CGST A/cDr. 1,800 
 Input SGST A/cDr. 1,800 
 To Bank A/c   23,600
 (Being Purchased office furniture.)    
vSalaries A/cDr. 50,000 
 To Bank A/c   50,000
 (Being Paid Salaries)    
viAdvertisement A/cDr. 11,800 
 To Purchases A/c   10,000
 To Input CGST A/c   900
 To Input SGST A/c   900
 (Being Goods distributed as free samples)    
viBad Debts A/cDr. 5,000 
 To Chanderkant A/c   5,000
 (Being Debtor proved bad)    
viiiCash A/cDr. 15,000 
 To Capital A/c   15,000
 (Being Invested money into business)    




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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