Question No 34 Chapter No 8 - T.S. Grewal 11 Class

Question No 34 Chapter No 8

Journalise the following transactions in the books of Manoj Store:

(i)	Purchase goods from Ramesh Rs. 20,000 less Trade Discount at 20% plus IGST @12%
(ii)	Sold goods costing Rs 7,000 to Krishna for Rs 9,000 plus IGST @ 12%.
(iii)	Sold goods for Rs 10,000 and charged IGST @ 12% against cheque.
(iv)	Rs 5,000 were deposited into Savings Account.
(v)	Machinery costing Rs 4,00,000 for which order was placed earlier paying advance of Rs 40,000. The balance payment was paid as follows:
	(a) An old machine (personal) valued at Rs 30,000 was given in exchange:
	(b) Issued a cheque from his savings account for Rs 1,30,000 and
	(c) Balance by issue of cheque from firm’s bank account.
(vi)	Paid in cash wages Rs, 2,500 for installation of machine.

In the Books of Manoj Store:

Date	Particulars		L.F.	Debit	Credit

(i)	Purchase A/c	Dr.		16,000
	Input IGST A/c	Dr.		1,920
	To Ramesh’s A/c				17,920
	(Being goods purchase from Ramesh )

(ii)	Krishna A/c	Dr.		10,080
	To Capital A/c				9,000
	To Output IGST A/c				1,080
	(Being goods sold to the Krishna)

(iii)	Bank A/c	Dr.		11,200
	To Sales A/c				10,000
	To Output IGST A/c				1,200
	(Being goods sold to the Krishna)

(vi)	Bank A/c	Dr.		5,000
	To Cash A/c				5,000
	(Being cash deposited into Saving Account.)

(v)	Machine A/c	Dr.		4,00,000
	To Advance (Supplier’s) A/c				40,000
	To Capital A/c				1,60,000
	To Bank A/c				2,00,000
	(Being Machine Purchased by owner investing further capital.)

(vi)	Machine A/c	Dr.		2,500
	To Cash A/c				2,500
	(Being Wage paid for installation of machine.)

Question No 34 Chapter No 8 – T.S. Grewal 11 Class