Question

Journalize the following transactions :-
1) Purchased motor car from Tata & Company worth ₹ 200000 at 18% GST.
2) Paid transport charges ₹ 10000 @ 5% GST.
3) Bought goods from Ranjan ₹ 10000 @ 5% GST and 10% cash discount.
4) Received cheque of ₹ 90000 from Kiran in full settlement of his account ₹100000/-.
5) Sold goods of ₹100000 at 10% trade discount and 10% cash discount to Ram and
received 50% amount by cheque.

Answer 1

Answer:

1. purchase account. Dr. 2,00,000

output. G.S.T. Dr. 36,000

to. cash account. 2,36,000

2. transport charges account. Dr. 10,000

output GST. Dr. 500

to. cash account. 10,500