Journalise the following transactions in the books of Ashok trading co. (20)
2021 March
1 Started business with Cash ₹ 1,00,000, goods ₹ 15,000 and Building ₹ 5,00,000
3 Bought goods worth ₹ 80,000 from Shama at 10% Trade Discount and 10% Cash
discount. 40% amount paid through cheque.
5 Returned goods worth ₹ 550 to Shama.
7 Deposited cash ₹ 48000 in bank.
10. Sold goods worth ₹ 70,000 to Deepak on credit at 10% Trade Discount.
12 Received Rent ₹ 1,500.
15 Received cheque of ₹ 61,500 from Deepak in full settlement of his account.
18 Purchased Furniture worth ₹ 1,60,000 from Pepperfry by cheque at 12% GST.
20. Invoiced goods to Girish ₹ 60,000 at 12% GST and amount received by cheque.
22 Wages paid ₹ 21,000.
23 Paid for daughter’s School fees ₹ 37000.
27 Sold goods worth ₹ 28,000 to Rani who paid us ₹ 18,000 immediately.
28.Paid for Advertisement ₹ 8,000
29.Purchased goods worth March ₹ 1,80,000 @ 28% GST and amount paid by RTGS.
Answers
Answer:
Journalise the following transactions in the books of Ashok trading co. (20)
2021 March
1 Started business with Cash ₹ 1,00,000, goods ₹ 15,000 and Building ₹ 5,00,000
3 Bought goods worth ₹ 80,000 from Shama at 10% Trade Discount and 10% Cash
discount. 40% amount paid through cheque.
5 Returned goods worth ₹ 550 to Shama.
7 Deposited cash ₹ 48000 in bank.
10. Sold goods worth ₹ 70,000 to Deepak on credit at 10% Trade Discount.
12 Received Rent ₹ 1,500.
15 Received cheque of ₹ 61,500 from Deepak in full settlement of his account.
18 Purchased Furniture worth ₹ 1,60,000 from Pepperfry by cheque at 12% GST.
20. Invoiced goods to Girish ₹ 60,000 at 12% GST and amount received by cheque.
22 Wages paid ₹ 21,000.
23 Paid for daughter’s School fees ₹ 37000.
27 Sold goods worth ₹ 28,000 to Rani who paid us ₹ 18,000 immediately.
28.Paid for Advertisement ₹ 8,000
29.Purchased goods worth March ₹ 1,80,000 @ 28% GST and amount paid by RTGS.