# Question No 15 Chapter No 11 – T.S. Grewal 11 Class

Question No.15 - Chapter No.11 - T.S. Grewal +1 Book 2019-Solution-min

Question No 15 Chapter No 11

15. (Transfer Entries). Give the Journals entries for the following:

(i) Gross Profit of Rs 32,000 from Trading Account to Profit and Loss Account.
(ii) Net Profit of Rs 14,500 to Capital Account of Sri Sankar Saha.
(iii)Sri Sankar Saha draws Rs 10,000 from his Capital Account.
(iv) Purchases Return of Rs 7,000 plus IGST @ 12%
(v) Sale Return of Rs 6,000 plus CGST and SGST @ 6% each

### The solution of Question No 15 Chapter 11

 Date Particulars L.F. Debit Credit (i) Profit & lose A/c Dr 32,000 To Gross Profit A/c 32,000 (Being Gross Profit Transfer to Profit & Loss Account) (ii) Net Profit A/c Dr 14,500 To Capital A/c 14,500 (Being Net Profit Transfer to Capital Account ) (iii) Capital A/c Dr 10,000 To Cash A/c 10,000 (Being Cash from the Capital ) (iv) Cash A/c Dr 7,840 To Purchases Return A/c 7,000 To Input IGST A/c 840 (Being Good Return to Creditor ) (v) Sale Return A/c 6,000 Output CGST A/c 360 Output SGST A/c 360 To Cash A/c 6,720 (Being Sale return )

Journal Proper | Subsidiary Books | Examples