Question

24. Journalise the followings transactions:
(1) Purchased goods for cash Rs. 24,000 plus CGST and SGST @ 6% each
(ii) Sold goods to M/s. Sitaram Bros. Rs. 87,000 plus IGST @ 12%
(iii) Withdraw goods for personal use (Cost Rs. 10,000+ IGST @ 12%, Sales Price Rs. 12,500)
(iv) Goods worth Rs.12, 000 lost by fire and Insurance Co accept the claim for Rs. 8,000.
​

Answer 1

Answer:yes

Explanation:

Purchases a/c 24000₹

CGST 1140₹

SGST 1140

To Bank a/c 26280₹

Cash a/c 97440₹

To igst 10440₹

To Sales a/c 87000₹

Withdrawals a/c 10,000₹

Inventory a/c 10000₹

Insurance claim a/c 8000₹

Loss of inventory a/c 4000₹

To inventory a/c 12000₹