Question

4. Record the following transactions in the books of Ravi & Co., Lucknow assuming all transactions have

been entered within the state of uttar Pradesh, Charging CGST and SGST @6% each.

i. Started business with cash Rs.50,000 and Cheque of Rs. 4,00,000.

ii. Bought goods of the list price of Rs.1,00,000 from Gopal Bros. less 20% trade discount and 5%

Cash discount on purchase price. 60% of the amount was paid immediately cheque.
iii. Sold goods to Manoj and Co. of the list price of rs.2,00,000 less 15% trade discount and 4% Cash

discount on sale price and received 40%by cheque.

iv. Paid to Gauri Shankar Rs. 95,000 by cheque after deducting 5% cash discount.

v. Electricity expenses paid by cheque for office Rs.20,000 and for residence of proprietor

Rs.10,000.

vi. Paid salaries by cheque Rs.25,000

vii. Dinanath , a debtor for Rs.40,000 has become bankrupt and 25% is received from his estate by

cheque.

viii. Withdrew from bank Rs.60,000 for office use and Rs.20,000 for personal use.

ix. Received by cheque for a bad debt written off last year Rs.10,000.

x. Sold goods costing Rs.60,000 to Kishore against Cheque at a profit of 25% on cost less 10% trade

discount. Cash discount allowed @2% on sale price.

Please answer as soon as possible ​

Answer 1

Answer:

paid salaries by cheque Rs.25000

Answer 2

Answer:

tell me all answer and solution

Explanation:

I have not a idea