Question No 09 Chapter No 9

Question No 09 Chapter No 9

09.Record the following transaction in the Purchases Book of Modern Furniture House, New Delhi assuming CGST @ 6% and SGST @6%, and post it into Ledger:

Nov.3Purchased goods from Sachdeva Furniture Store, New Delhi :
 50 Chairs @ 2,000 each
 5 Tables @ 10,000 each
 Less: 10% Trade Discount
Nov.10Purchased furniture from Mahadeva & Co., Jaipur Rajasthan valued 2,00,000, less 12 1/2 % Trade Discount
Nov.18Purchased furniture from Fashion Furniture House, Chandigarh of the list price of 2,50,000, less 15%.
Nov.20Purchased from India Furniture House, New Delhi : 
 100 Chairs @ 1,800 each
Nov.25Purchased from Mohan Lal & Sons furniture of the value of 20,000 for cash.

The solution of Question No 09 Chapter No 9: –

Purchases Book 
DateParticularDetailCost
Input CGSTInput SGST Input
ISGT
 
Total
2018
Nov.
       
4Sachdeva Furniture Store, New Delhi      
 50 Chairs @ Rs 2,000 each1,00,000     
 05 Tables @ Rs 10,000 each50,000     
  1,50,000     
 Less: 10% Trade Discount15,000     
  1,35,000     
 Add: 12% IGST16,200     
  1,51,2001,35,000  16,2001,51,200
10Mahadeva & Co. Jaipur Rajasthan2,00,000     
 Less : 12 1 2% Trade Discount25,000     
  1,75,000     
 Add: 6% CGST10,500     
 Add: 6% SGST10,500     
  1,96,0001,75,00010,50010,500 1,96,000
18Fashion Furniture House, Chandigarh Punjab2,50,000     
 Less: 15% Discount37,500     
  2,12,500     
 Add: 6% CGST12,750     
 Add: 6% SGST12,750     
  2,38,0002,12,50012,75012,750 2,38,000
20India Furniture House, New Delhi      
 100 Chairs @ 1,800 each1,80,000     
 Add: 12% IGST21,600     
  2,01,6002,01,600  21,6002,01,600
   7,02,50023,25023,25037,80010,36,000
Dr.Purchases A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
Nov.30By Sundries as per Purchases Boo 7,02,500    
        
        
Dr.Sachdeva Furniture Store A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Nov.03By Purchases A/c 1,35,000
    Nov.03By Input IGST A/c 16,200
        
Dr.Mahadeva & Co A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Nov.10To Purchases A/c 1,75,000
    Nov.10To Input CGST A/c 10,500
    Nov.10To Input SGST A/c 10,500
        
Dr.Fashion Furniture House A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Nov.18To Purchases A/c 2,12,500
    Nov.18To Input CGST A/c 12,750
    Nov.18To Input SGST A/c 12,750
        
Dr.India Furniture House A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
2018   2018   
    Nov.20By Purchases A/c 1,80,000
    Nov.20By Input IGST A/c 21,600
        

Note: Transaction on Nov. 25 will not be recorded in the Purchases Book as it is a cash transaction.
2 Input CGST, Input SGST and Input IGST according to text book are Rs.18,900, 18,900 and Rs.46,500 respectively while as per our calculation Input CGST, Input SGST and Input IGST are Rs.23,250, 2,250 and Rs.37,800 respectively

What is Ledger in accounting – explain its Types

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