Question

Journalise the following transactions-

[PLEASE DO THE FULL GENERALTY TRANSACTIONS IN A COPY AND POST IT HERE]

1. Purchase goods worth ₹50000 from Raj and paid 30% as well as levy GST @18%.
2. Goods destroyed by fire worth ₹10000 and insurance company admit a claim of ₹2000.
3. Prepaid salary of ₹3000.
4. Outstanding rent of ₹5000.
5. Gave loan to Raj for ₹5000 as advance.
6. Bad dept to ₹6000.​

Answer 1

Answer:

purchase a/c Dr 50,000

input IGST a/c Dr 9,000

to cash a/c 17,700

to Raj a/c 41,300

2. a. loss by fire a/c Dr 10,000

to purchase a/c 10,000

b. insurance company a/c Dr 2,000

profit and loss a/c Dr 8,000

to loss by fire a/c 10,000

3. prepaid salary a/c Dr 3,000

to salary a/c 3,000

rent a/c Dr 5,000

to outstanding rent a/c 5,000

Raj's loan a/c Dr 5,000

to bank a/c 5,000

bad debts a/c Dr 6,000

to debtors a/c 6,000