Question

1. business with cash Rs 100,000.
2. Paid rent X commenced for Rs 3000. *
3. Purchased furniture in cash for Rs 44,800 including IGST @12%.
4. Bought goods from Sahil for Rs 10,000. *
5. Sold goods for Rs 10,000 in cash. *
6. Sold goods to Kapil for Rs 30,000 charged IGST @12%. Received Rs 12,000 in
cash and balance to be received after one month.
7. Received Rs 1250 from Raman in full settlement of his account for Rs 1300.
8. Received Rs 800 form Ramesh on his account for Rs 900.
9. Paid Rs 370 to Ram in full settlement on his account for Rs 400.
10. Paid Rs 1200 to Shyam on his account for Rs 1500.
11. Honoured our acceptance in favour of karan by cash Rs 3200.
12. Received Rs 4000 in cash from Shivam for a bill of exchange accepted by him.
13. Sold household furniture for Rs 5000 in cash and paid the money into business.
14. Bought office furniture of Rs 5000 plus CGST and SGST @ 6% from Banerjee
bros.
15. Paid landlord Rs 1500 for rent.
16. Sold household furniture for Rs 5000. It is not levy of GST being personal
property of the proprietor. The proceeds were invested into business.
17. Paid Rs 5000 as income tax.
18. A cheque amounting to Rs 50,000 deposited in the bank from his saving account
returned dishonoured for technical reasons.
19. Ashutosh issued a cheque for Rs 50,000 from his savings account in firm’s name.
20. Purchased goods from D. Lal, Kanpur for Rs 200,000 plus IGST is to be levied
@18% out of which cheque was issued for Rs 60,000.

Answer 1

Answer:

Cash A/C. Dr. Rs 1,00,000

Furniture A/C. Dr Rs 50,000

Purchases A/C. Dr. Rs,10,000

To Capital A/C. Rs.1,60,000

(Being capital brought in the form of cash, stick and furniture)