Question

21. (VAT) Journalise to following transactions in the books of Ram:
1. Bought goods from Amar for 25,000 less 20% trade discount
plus VAT @ 10%.
2. Sold goods costing 10,000 to Mohan for 14,000 plus VAT @
10%.
3. Sold the balance goods for 21,000 and charged VAT @ 10% to
Sohan against cheque which was deposited in the bank.
4. Deposit the VAT into Government Account by cash.
[VAT collected paid 1,500]
[Ans. Total 64,000]​

Answer 1

Answer:

1. purchase a/c dr.

To amar a/c

To discount received a/c

2. mohan a/c dr.

discount allowed a/c dr.

To sales a/c