Question No 9 Chapter No 8 - T.S. Grewal 11 Class

Question No 9 Chapter No 8

Journalise the following transactions of Rakesh Agencies, Delhi(Proprietor Shri Rakesh):

2018		Rs
Jan-01	Rakesh commenced business with cash	50,000
Jan-02	Purchased goods for cash	10,000
Jan-05	Purchased goods from Mohan, Delhi on credit	6,000
Jan-07	Opened Bank account with Bank of India	10,000
Jan-10	Purchased furniture for office	2,000
Jan-15	Sold goods cash	8,000
Jan-20	Sold goods to Ram, Delhi on credit	5,000
Jan-25	Cash sales	3,500
Jan-27	Paid to Mohan on account	3,000
Jan-28	Ram Returns goods	500
Jan-31	Paid Salaries	9,000
Jan-31	Rejected and returned 10% of goods supplied by Mohan

CGST and SGST @6% each on intra-state sale and purchase. IGST is lived @ 12% on inter-state sale and purchase.

Solution of Question No 9 Chapter No 8: –

In the Books of Singh Enterprises, Delhi

Date	Particulars		L.F.	Debit	Credit
Jan 1	Cash A/c	Dr.		50,000
	To CapitalA/c				50,000
	(Being Rakesh commenced business with cash.)

Jan 2	Purchase A/c	Dr.		10,000
	CGST Input A/c	Dr.		600
	SGST Input A/c	Dr.		600
	To Cash A/c				11,200
	(Being goods purchased for Cash.)

Jan 5	Purchase A/c	Dr.		6,000
	CGST Input A/c	Dr.		360
	SGST Input A/c	Dr.		360
	To Mohan A/c				6,720
	(Being goods purchased from Mohan)

Jan 7	Bank A/c	Dr.		10,000
	To Cash A/c				10,000
	(Being opened a bank account.)

Jan 10	Furniture A/c	Dr.		2,000
	CGST Input A/c	Dr.		120
	SGST Input A/c	Dr.		120
	To Cash A/c				2,240
	(Being Furniture purchased)

Jan 15	Cash A/c	Dr.		6,960
	To Sales A/c				6,000
	To CGST Output A/c				480
	To SGST Output A/c				480
	(Being goods sold for cash)

Jan 20	Ram A/c	Dr.		5,600
	To Sales A/c				5,000
	To CGST Output A/c				300
	To SGST Output A/c				300
	(Being goods sold to Ram)

Jan 25	Cash A/c	Dr.		3,920
	To Sales A/c				3,500
	To CGST Output A/c				210
	To SGST Output A/c				210
	(Being goods sold for cash)

Jan 27	Mohan A/c	Dr.		3,000
	To Cash A/c				3,000
	(Being cash paid to mohan)

Jan 28	Sale Returned A/c	Dr.		500
	CGST Input A/c	Dr.		30
	SGST Input A/c	Dr.		30
	To Ram A/c				560
	(Being goods returned by ram.)

Jan 31	Salary A/c	Dr.		9,000
	To Cash A/c				9,000
	(Being salary paid.)
Jan 31	Mohan A/c	Dr.		672
	To Purchase Returned A/c				600
	To CGST Output A/c				36
	To SGST Output A/c				36
	(Being goods returned to Mohan )

Explanation of All Transactions with images: –

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.

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Transaction No. 1

Name of Account	Type of Account	Rule which will Applicable	What happen in the transaction	Rule applied	According to Rule It will be
Cash	Assets	Real Account	Cash received by business	Cash Comes In	Debit
Capital (owner)	Personal	Personal Account	Giving cash to business	Owner is Giver	Credit

Transaction No. 2

Transaction No. 2 Question No.9 – Chapter No.8 – T.S. Grewal +1 Book 2019

Name of Account	Type of Account	Rule which will Applicable	What happen in the transaction	Rule applied	According 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. 3

Name of Account	Type of Account	Rule which will Applicable	What happen in the transaction	Rule applied	According 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
Mr. Mohan	Person	Personal Account	Making payment	Ram is Giver	Credit

Transaction No. 4

Name of Account	Type of Account	Rule which will Applicable	What happen in the transaction	Rule applied	According to Rule It will be
Cash	Assets	Real Account	Cash giving by business	Cash goes out	Credit
Bank	Personal	Personal Account	Receiving cash from business	Bank is Receiver	Debit

Transaction No. 5

Name of Account	Type of Account	Rule which will Applicable	What happen in the transaction	Rule applied	According 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. 6

Name of Account	Type of Account	Rule which will Applicable	What happen in the transaction	Rule applied	According to Rule It will be
Cash	Assets	Real Account	Cash received by business	Cash Comes In	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

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Transaction No. 7

Name of Account	Type of Account	Rule which will Applicable	What happen in the transaction	Rule applied	According to Rule It will be
Ram	Person	Personal Account	Goods received	Ram 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. 8

Name of Account	Type of Account	Rule which will Applicable	What happen in the transaction	Rule applied	According to Rule It will be
Cash	Assets	Real Account	Cash received by business	Cash Comes In	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. 9

Name of Account	Type of Account	Rule which will Applicable	What happen in the transaction	Rule applied	According to Rule It will be
Cash a/c	Assets	Real Account	cash paid by Business	cash goes out	Credit
Mohan a/c	Person	Personal Account	Goods received	Ramavtar is receiver	Debit

Transaction No. 10

Name of Account	Type of Account	Rule which will Applicable	What happen in the transaction	Rule applied	According to Rule It will be
Ram	Person	Personal Account	Goods returned by Ram	Ram is giver	Credit
Sales Return (Goods)	Assets	Real Account	Goods giving by Business	Goods Goes out	Debit
CGST Input A/c	Expenses	Nominal Account	Tax returned by buyer	All Expenses and loss	Debit
SGST Input A/c	Expenses	Nominal Account	Tax returned by buyer	All Expenses and loss	Debit

Transaction No. 11

Name of Account	Type of Account	Rule which will Applicable	What happen in the transaction	Rule applied	According 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

Transaction No. 12

Name of Account	Type of Account	Rule which will Applicable	What happen in the transaction	Rule applied	According to Rule It will be
Purchase (Goods)	Assets	Real Account	Goods giving by Business	Goods Goes out	Credit
CGST Input A/c	Income	Nominal Account	Tax collected from buyer	All income and gains	Credit
SGST Input A/c	Income	Nominal Account	Tax collected from buyer	All income and gains	Credit
Mr. Mohan	Person	Personal Account	Goods received	Ram is receiver	Debit

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