Question

Journalise the following transactions of Beta &Co., Delhi who deals in goods of 12% GET Slab
1. Paid water charges Rs. 500
2.Bought goods from Neha &Co.of list price Rs. 20000 less 10% trade discount.
3. Sold goodi costing Rs.20000 at 25% profit on cost less 10% discount to Roma & Co.
4. Returned goods of list price Rs. 4000 to Neha & Co. Being defectI've.
5. Roma & Co. returnedgoods costing Rs. 4000 as it was not up to mark.
6. Paid rent to landlord Rs. 5000.

Answer 1

• water charges A/c ..Dr

to cash A/c 500

• purchases A/c....Dr neha A/c. 2000
• 6 rentA/c...Dr.

to cash A/c