Question

18. Journalise the following transactions

2019

Jan 1 Manish commenced business with a capital of ? 2,00,000

Mar 18 Received a cheque from Rashmi & Co for ? 6,000 and cash? 4,000 on

account and allowed them discount? 200.

Oct 21 Cash sales 11,000; plus CGST 6% and SGST 6%

Cash purchases? 4,300; plus CGST 6% and SGST 6%.

Dec 31 Rent due to landlord 73,000

Interest on drawings 2,000​

Answer 1

Cash A/c. Dr. 200000

To Capital A/c. 200000

BankA/c. Dr. 6000

CashA/c. Dr. 4000

Discount Allowed A/c. Dr. 200

To Rashmi & Co. 10200

Rent A/c. Dr. 73000

To Cash A/c. 73000

CapitalA/c. Dr. 2000

To Intrest on Drawings 2000

Sorry, But I don't know how to deal with GST