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

Question No. 8 - Chapter No.8 - T.S. Grewal +1 Book 2019
Question No. 8 - Chapter No.8 - T.S. Grewal +1 Book 2019

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Question No 8 Chapter No 8

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Journalise the following transactions of Singh Enterprises, Delhi::

2017 Rs
June 01Started business with cash 50,000
June 02Deposited cheque from Savings Account in firm’s account2,00,000
June 03Received cash from Ram50,000
June 04Purchased goods of  cash 15,000
June 11Sold goods to M/s. Hari Sales, Delhi12,000
June 13Paid to Ramavtar40,000
June 17Received from M/s Hari Sales 10,000
June 20Bought furniture from S.R. Furnishers against Cash ( Including CGST and SGST)22,400
June 27Paid rent 28,000
June 30Paid salary 50,000

CGST and SGST @6% each is levied on Intra-state sale and purchase.

Solution of Question No 8 Chapter No 8: –

In the Books of Singh Enterprises, Delhi

Date  Particulars
L.F.DebitCredit
June 1Cash A/cDr. 50,000 
            To CapitalA/c  50,000
 (Being started business with cash.)   
      
June 2BankA/cDr. 2,00,000 
           To Capital A/c   2,00,000
 (Being cheque deposited from his saving account.)   
      
June 3Cash A/cDr. 50,000 
           To Ram A/c   50,000
 (Being amount received from Ram.)   
      
June 4Purchase A/cDr. 15,000 
 CGST Input A/cDr. 900 
 SGST Input A/cDr. 900 
           To Cash A/c   16,800
 (Being goods purchased for Cash.)   
      
June 11M/s. Hari Sales A/cDr. 13,440 
           To Sales A/c   12,000
           To CGST Output A/c   720
           To SGST Output A/c   720
 (Being goods sold to Hari sales.)   
      
June 13Ramavtar A/cDr. 40,000 
           To Cash  A/c   40,000
 (Being payment made to Ramavtar.)   
      
June 17Cash A/cDr. 10,000 
             To M/s Hari Sales A/c  10,000
 (Being payment received from Hari Sales.)   
     
June 20Furniture A/cDr. 20,000 
 CGST Input A/cDr. 1,200 
 SGST Input A/cDr. 1,200 
             To Cash A/c  22,400
 (Being Furniture purchased)   
     
June 27Rent A/cDr. 28,000 
           To Cash  A/c   28,000
 (Being rent paid.)   
      
June 30Salary A/cDr. 50,000 
           To Cash  A/c   20,000
 (Being salary paid.)   
     

Explanation of All Transactions with images: –

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This is not a part of the solution, So you don’t have to write it in the exam. So, why we explained if it is not needed. Because This explanation will help you to understand all transactions with logic and you don’t need to remember all the transactions but just understand and remember the logic use behind it.

Transaction No. 1

Transaction No. 1 Question No.8 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 1 Question No.8 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Cash

 Assets

 Real Account

 Cash received by business

Cash Comes In

Debit

Capital

 Personal

 Personal Account

 Giving cash to business

Owner is Giver

Credit

Transaction No. 2

Transaction No. 2 Question No.8 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 2 Question No.8 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Bank

Artificial Person

  Personal  Account

 Bank receiving cheque

Bank is receiver

Debit

Capital

 Personal

 Personal Account

 Giving cash to business

Owner is Giver

Credit

Transaction No. 3

Transaction No. 3 Question No.8 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 3 Question No.8 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

 Cash

Assets

Real Account

Payment received in cash

 Cash comes in  

Debit

 Mr. Ram

Person

Personal Account

Making payment

Ram is Giver

Credit

Transaction No. 4

Transaction No. 4 Question No.8 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 4 Question No.8 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Purchase (Goods)

 Assets

 Real Account

 Goods received by business

Goods comes in

Debit

CGST Input A/c

Expenses

Nominal Account

Tax collected from buyer

All Expenses and losses

Debit

SGST Input A/c

Expenses

Nominal Account

Tax collected from buyer

All Expenses and losses

Debit

 Cash

Assets

 Real Account

Payment made in cash

Cash goes out

Credit

Transaction No. 5

Transaction No. 5 Question No.8 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 5 Question No.8 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

 M/s. Hari Sales

 Person

 Personal Account

Goods received

Pawan is receiver

Debit

Sales a/c (Goods)

 Assets

 Real Account

 Goods giving by Business

Goods Goes out

Credit

CGST Output A/c

Income

Nominal Account

Tax collected from buyer

All income and gains

Credit

SGST Output A/c

Income

Nominal Account

Tax collected from buyer

All income and gains

Credit

Transaction No. 6

Transaction No. 6 Question No.8 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 6 Question No.8 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Cash a/c

 Assets

 Real Account

 cash paid by Business

cash goes out

Credit

 Ramavtar a/c

 Person

 Personal Account

Goods received

Ramavtar is receiver

Debit

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Transaction No. 7

Transaction No. 7 Question No.8 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 7 Question No.8 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Cash

 Assets

 Real Account

 Cash received by business

Cash Comes In

Debit

 M/s. Hari Sales

Person

Personal Account

Making payment

Ram is Giver

Credit

Transaction No. 8

Transaction No. 8 Question No.8 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 8 Question No.8 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

 Furniture

 Assets

 Real Account

 Goods received by business

Goods comes in

Debit

CGST Input A/c

Expenses

Nominal Account

Tax collected from buyer

All Expenses and losses

Debit

SGST Input A/c

Expenses

Nominal Account

Tax collected from buyer

All Expenses and losses

Debit

 Cash

Assets

 Real Account

Payment made in cash

Cash goes out

Credit

Transaction No. 9

Transaction No. 9 Question No.8 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 9 Question No.8 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Rent A/c

Loss

Nominal Account

Expenses incurred

 All Expenses and Losses

Debit

 Cash

Assets

 Real Account

Payment made in cash

Cash goes out

Credit

Transaction No. 10

Transaction No. 10 Question No.8 - Chapter No.8 - T.S. Grewal +1 Book 2019
Transaction No. 10 Question No.8 – Chapter No.8 – T.S. Grewal +1 Book 2019
Name of AccountType of AccountRule which will ApplicableWhat happen in the transactionRule appliedAccording to Rule It will be

Salary A/c

Loss

Nominal Account

Expenses incurred

 All Expenses and Losses

Debit

 Cash

Assets

 Real Account

Payment made in cash

Cash goes out

Credit

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