Question No 07 Chapter No 6

Question No 07 Chapter No 6

07. Pass entries in the books of Sh. Jagdish Mishra of Lucknow U.P. assuming CGST @ 6% and SGST @ 6%:

2018 
Mar.5Purchased goods for 2,50,000 from Virender Yadav of Patna Bihar
Mar.12Sold goods costing 60,000 at 50% profit to Partap Sinha of Ranchi Jharkhand
Mar.14Purchased goods for 70,000 from Ram Nath of Kanpur U.P. against cheque
Mar.18Sold goods at Varanasi U.P. Costing 2,25,000 at 33 1/3 % profit less trade discount 10% against cheque which was deposited into bank
Mar.20Paid rent 25,000 by cheque
Mar.31Payment made of the balance amount of GST.

 

The solution of Question No 07 Chapter No 6: –

In the Books of Radhika Traders
DateParticulars
L.F.DebitCredit
2019     
Mar.5Purchases A/cDr. 2,50,000 
 Input IGST A/cDr. 30,000 
 To Virender Yadav A/c   2,80,000
 To Virender Yadav A/c   
     
Mar.12Partap Sinha A/cDr. 1,00,800 
 To Sale A/c.  90,000
 To Output IGST A/c   10,800
 (Being Sold goods and received cheque)   
      
Mar.14Purchases A/cDr. 70,000 
 Input CGST A/cDr. 4,200 
 Input SGST A/cDr. 4,200 
 To Bank A/c  78,400
 (Being Purchased goods against cheque)   
     
Mar.18Bank A/cDr. 3,02,400 
 To Sales A/c   2,70,000
 To Output CGST A/c   16,200
 To Output SGST A/c   16,200
 (Being Sold goods against cheque)    
      
Mar.20Rent A/cDr. 25,000 
 Input CGST A/cDr. 1,500 
 Input SGST A/cDr. 1,500 
 To Bank A/c   28,000
 (Being Paid rent by cheque)    
      
Mar.31Output CGST A/cDr. 10,800 
 Output IGST A/c   10,800
 (Being Input tax credit availed)    
      
 Output CGST A/cDr. 16,200 
 To Input CGST A/c   5,700
 To Input IGST A/c   10,500
 (Being Input tax credit availed)    
      
 Output SGST A/cDr. 16,200 
 To Input SGST A/c   5,700
 To Input SGST A/c   8,700
 To Bank A/c   1,800
 (Being Input tax credit availed and balance paid)    
     

 

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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