Question No 5 Chapter No 9 - T.S. Grewal 11 Class

Question No 5 Chapter No 9

5. Journalise the following transactions in the Journal of M/s Gupta Brothers(Prop. Shri R.K. Gupta) Delhi and Post them to the ledger:

2018		Rs.
Mar. 1	Started Business with cash*	2,00,000
Mar. 2	Opened a Bank Account with SBI*	80,000
Mar. 4	Goods Purchased from Raj, Jaipur (Rajasthan)	22,000
Mar. 5	Goods purchased for cash	30,000
Mar. 8	Goods Sold to Naman, Delhi	12,000
Mar. 10	Cash paid to Raj*	22,000
Mar. 15	Cash received from Naman*	11,700
	Discount Allowed	300
Mar. 16	Paid wages*	200
Mar. 18	Furniture purchased for office use	5,000
Mar. 20	Withdrawn from bank for personal use*	4,000
Mar. 22	Issued cheque for rent	3,000
Mar. 23	Goods taken for household purpose. These goods were purchased from Raj	2,000
Mar. 24	Drawn cash from bank for office use*	6,000
Mar. 26	Commission received charges	1,000
Mar. 27	Bank charges	300
Mar. 28	Cheque issued for life insurance premium of Proprietor*	3,000
Mar. 29	Paid Salary*	10,000
Mar. 30	Cash Sales	20,000

Inter-State transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with(*).

Solution of Question No 5 Chapter No 9: –

In the Books of M/s Gupta Brothers(Prop. Shri R.K. Gupta) Delhi

Date	Particulars		L.F.	Debit	Credit
2018
Mar. 1	Cash A/c	Dr.		2,00,000
	To Capital A/c				2,00,000
	(Being Commenced business with cash.)

Mar. 2	Bank – SBI A/c	Dr.		80,000
	To Cash A/c				80,000
	(Being Bank account opened in SBI)

Mar. 3	PurchasesA/c	Dr.		22,000
	Input IGST A/c	Dr.		2,640
	To Raj, Jaipur A/c				24,640
	(Being Furniture purchased for cash )

Mar. 5	Purchase A/c	Dr.		30,000
	Input CGST A/c	Dr.		1,800
	Input SGST A/c	Dr.		1,800
	To Cash A/c				33,600
	(Being goods purchased for cash )

Mar. 8	Naman, Delhi A/c	Dr.		13,440
	To Sales A/c				12,000
	To Output CGST A/c				720
	To Output SGST A/c				720
	(Being goods Sold to Naman, Delhi)

Mar. 10	Raj, Jaipur A/c	Dr.		22,000
	To Cash A/c				22,000
	(Being payment made to Raj)

Mar. 15	Cash A/c	Dr.		11,700
	Discount Allowed A/c	Dr.		300
	To Naman, Delhi A/c				12,000
	(Being payment received in cash)

Mar. 16	Wages A/c	Dr.		5,000
	To Cash A/c				5,000
	(Being wages paid)

Apr. 16	Furniture A/c	Dr.		4,000
	Input CGST A/c	Dr.		240
	Input SGST A/c	Dr.		240
	To Cash A/c				4,480
	(Being Rent paid to Landlord)

Mar. 20	Drawing A/c	Dr.		1,000
	To Cash A/c				1,000
	(Being wages paid)

Mar. 22	Rent A/c	Dr.		3,000
	Input CGST A/c	Dr.		180
	Input SGST A/c	Dr.		180
	To Bank A/c				3,360
	(Being rent paid by cheque)

Mar. 23	Drawing A/c	Dr.		2,240
	To Purchase A/c				2,000
	To Input IGST A/c				240
	(Being goods taken for household purpose)

Mar. 24	Cash A/c	Dr.		6,000
	To Bank A/c				6,000
	(Being cash withdrawal from bank for office use)

Mar. 26	Cash A/c	Dr.		1,000
	To Commission received A/c				1,000
	(Being payment received in cash for commission)

Mar. 27	Bank Charges A/c	Dr.		300
	To Bank A/c				300
	(Being bank charges deducted by bank)

Mar. 28	DrawingA/c	Dr.		3,000
	To Bank A/c				3,000
	(Being life insurance premium paid of proprietor’s life)

Mar. 29	Salary A/c	Dr.		10,000
	To Cash A/c				10,000
	(Being bank charges deducted by bank)

Mar. 30	Cash A/c	Dr.		22,400
	To Sales A/c				20,000
	To Output CGST A/c				1,200
	To Output SGST A/c				1,200
	(Being goods Sold for cash)

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Ledger balancing or Closing of ledger account | Ledger

Dr.	Cash A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Apr. 1	To Capital A/c		1,50,000	Apr. 2	By Bank- PNB A/c		50,000
Apr. 5	To Sales A/c		33,600	Apr. 11	By Furniture A/c		22,400
Apr. 15	To M/s Gupta Traders A/c		12,000	Apr. 13	By Purchase A/c		33,600
				Apr. 16	By Rent A/c		4,480
				Apr. 18	By Electricity A/c		1,000
				Apr. 23	By Hema Traders A/c		40,000
				Apr. 25	By Postage & Stamps A/c		100
				Apr. 30	By SalaryA/c		4,000
				Apr. 30	By Balance C/d		40,020

			1,95,600				1,95,600

Dr.	Capital A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Apr. 1	By Cash A/c		1,50,000
Apr. 30	By Balance C/d		1,50,000

			1,50,000				1,50,000

Dr.	Bank – PNB A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Apr. 2	To Cash A/c		50,000
				Apr. 30	By Balance C/d		50,000

			50,000				50,000

Dr.	Furniture A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Apr. 3	To Cash A/c		22,400
				Apr. 30	By Balance C/d		22,400

			22,400				22,400

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Dr.	Purchase A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Apr. 7	To Cash A/c		33,600
Apr. 8	To M/s Hema Trader, Kolkata A/c		47,040
				Apr. 30	By Balance C/d		80,640

			80,640				80,640

Dr.	Sales A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Apr. 10	By Cash A/c		33,600
				Apr. 14	By M/s Gupta Traders, CHD A/c		13,440
Jan. 31	By Balance C/d		47,040

			47,040				47,040

Dr.	M/s Hema Traders, Chandigarh A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan. 15	To Sales A/c		6,000
				Jan. 31	By Balance C/d		6,000

			6,000				6,000

Dr.	Anurag, Kanpur A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan. 19	To Purchase Return A/c		5,000	Jan. 18	By Purchase A/c		50,000
Jan. 31	By Balance C/d		45,000

			50,000				50,000

Dr.	Purchase Return A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan. 19	By Anurag, Kanpur A/c		5,000
Jan. 31	By Balance C/d		5,000

			5,000				5,000

Dr.	Electricity Charges A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan. 22	To CashA/c		1,000
				Jan. 31	By Balance C/d		1,000

			1,000				1,000

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Dr.	Telephone Charges A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan. 28	To CashA/c		500
				Jan. 31	By Balance C/d		500

			500				500

Dr.	Rent A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan. 29	To CashA/c		800
				Jan. 31	By Balance C/d		800

			800				800

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Dr.	Wages A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan. 31	To CashA/c		3,000
				Jan. 31	By Balance C/d		3,000

			1,000				1,000

Question No 5 Chapter No 9 – T.S. Grewal 11 Class

Solution of Question No 5 Chapter No 9: –

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