Question No 2 Chapter No 11 – T.S. Grewal 11 Class

Question No.2 Chapter No.11 T.S. Grewal 1 Book 2019 Solution min min 1024x576 - Question No 2 Chapter No 11 - T.S. Grewal 11 Class

Question No 2 Chapter No 11

 Verma Bros., Kolkata carries on business as a wholesale cloth dealer. From the following write up their purchases book for January 2018 :

2018  
Jan.3 Purchased on credit from M/s Birla Mills, Kolkata
  100 pieces long cloth @ Rs800 each 
  50 pieces shirting @ Rs500 each 
  CGST and SGST payable @6% each 
Jan.8* Purchased for cash from M/s Ambika Mills, Ahmedabad
  50 pieces muslin @ 1,000 each
  IGST payable @12% 
Jan.15 Purchased on credit from M/s Arvind Mills, Ahmedabad 
  20 pieces coating @ Rs 2,000 each
  10 Pieces shirting @ Rs 500 each
  IGST payable @12% 
Jan.20* Purchased on credit from M/s Bharat typewriters Ltd., Kolkata:
  5 typewriters @1,400 each
  CGST and SGST payable @6% each 

The solution of Question No 2 Chapter No 11: – 

In the Book of Verma Bros., Kolkata

  Purchase Book 
Date Particular Detail Cost
Input CGST Input SGST  Input
ISGT
 
Total
2018
Jan
             
3 M/s Birla Mills, Kolkata            
  100 pieces long cloth @Rs 800 each 80,000          
  50 pieces shirting @ Rs 500 each 25,000          
    1,05,000          
  Add: CGST 6,300          
  Add: CGST 6,300          
    1,17,600 1,05,600 6,300 6,300   1,17,600
               
15 M/s Arvind mills, Ahmedabad:            
  20 pieces Coating @ Rs 2,000 each 40,000          
  10 pieces shirting @ Rs 500 each 5,000          
    45,000          
  Add: IGST 5,400          
    50,400 45,000     5,400 50,400
      1,50,000 6,300 6,300 5,400 1,68,000

* Jan8 Purchased on credit from M/s Arvind Mills, Ahmedabad
50 pieces muslin @ 1,000 each
IGST payable @12%

In this transaction, the payment made in cash that is why it will not be recorded in the purchased book because only credit transactions are recorded in the purchased book 

* Jan.20 Purchased on credit from M/s Bharat typewriters Ltd., Kolkata:
5 typewriters @1,400 each
CGST and SGST payable @6% each

In this transaction, the typewrite will be treated as an asset for the business not a good because a business deal with cloths, but only purchased of goods are record in the purchase book so it will not be recorded in the purchased book

To understand more about cash book please check out following links: –

Cash Book | Types of Cash Book | Subsidiary Books

Single Column Cash Book | Explained with Example

Double Column Cash Book | Explained with Example

Triple Column Cash Book | Explained with Example

Petty Cash Book | Example | Subsidiary Books

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Also, Check out the solved question of previous Chapters: –

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication

T.S. Grewals Double Entry Book Keeping - Question No 2 Chapter No 11 - T.S. Grewal 11 Class

T.S. Grewal’s Double Entry Book Keeping

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