Question No 17 Chapter No 18 - USHA Publication 11 Class

Question No 17 Chapter No 18

Table of Contents

The solution of Question No 17 Chapter No 18:-

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Withdrawal of goods for personal use

17. The following balances have been taken from the trial balances of Jayant Singh as of 31st March 2019

Ledger Account	(Dr. Rs)	(Cr. Rs)
Purchases	40,000	–
Advertisement	10,000	–
Donation	6,000	–
Input CGST	5,500	–
Input SGST	5,500	–

Adjustments
Goods worth Rs 3,000 were distributed as free samples and worth Rs 2,000 were donated to poor people (CGST and SGST 14%)
Give adjustment entries and show their accounting treatment in the financial statement for the year 2018-19

The solution of Question No 17 Chapter No 18:-

Adjustment entries
Date	Particulars		L.F.	Debit	Credit
	Advertisement A/c	Dr.		3,840
	Donation A/c	Dr.		2,560
	To Purchases A/c				5,000
	To Input CGST A/c				700
	To Input SGST A/c				700
	(Being goods distributed in advertisement and donated .)

Trading Account
Particular		Amount	Particular	Amount
To Purchases A/c	40,000
Less: Donation	3,000
Less: Advertisement	2,000	35,000
		–		–

Profit & Loss Account
Particular		Amount	Particular	Amount
To Donation A/c	6,000
Add: Donation	2,000	8,000

To Advertisement A/c	10,000
Add: Advertisement	3,000	13,000
		–		–