Ledger page 9.35 question 3 class 11
Answers
Explanation:
Question 3:
Journalise the following transactions in the books of Afzal, Kolkata and post them to the Ledger:
2018 ₹Jan. 1Started business with cash*1,00,000Jan. 3Bought goods on credit from Gupta & Co., Delhi20,000Jan. 5Cash sales5,000Jan. 8Cash purchases8,000Jan. 10Sold goods to Ahmed & Co., Lucknow10,000Jan. 11Deposited cash in bank*50,000Jan. 13Purchased a computer for office20,000Jan. 15Took a loan from Mehboob*70,000Jan. 16Goods returned by Ahmed & Co.2,000Jan. 17Purchased furniture from Mehfil Mart, Kolkata10,000Jan. 18Paid interest to Mehboob*2,000Jan. 19Received claim from Ahmed & Co. for defects in goods supplied to them. Claim was accepted and rebate was allowed.*1,000Jan. 22Paid rent by cheque2,000Jan. 24Withdrew from bank*20,000Jan. 25Sales of goods at counter after allowing trade discount of 10%10,000Jan. 26Goods purchased from Gupta & Co., Delhi were destroyed by accident10,000Jan. 27Advertisement expenses paid through bank5,000Jan. 28Ahmed & Co. settled their account by cheque*7,000Jan. 29Paid to Gupta & Co. by cheque*18,000 Discount allowed by them*2,000Jan. 31Sold old newspapers500
Intra-state transactions are subject to levy of CGST and SGST @ 6% each whereas inter-state transactions are subject to levy of IGST @ 12%. Out of the above transactions, transactions marked (*) are not subject to levy of GST.
ANSWER:
Journal of Afjal, Kolkata
Date
Particulars
L.F.
Debit Amount
(₹)
Credit Amount
(₹)
2018
Jan.01
Cash A/c
Dr.
1,00,000
To Capital A/c
1,00,000
(Business started with cash)
Jan.03
Purchases A/c
Dr.
20,000
Input IGST A/c
Dr.
2,400
To Gupta & Co.
22,400
(Goods purchased on credit @ 12% IGST)
Jan.05
Cash A/c
Dr.
5,600
To Sales A/c
5,000
To Output CGST A/c
300
To Output SGST A/c
300
(Goods sold for cash @ 6% CGST and SGST)
Jan.08
Purchases
Dr.
8,000
Input CGST A/c
Dr.
480
Input SGST A/c
Dr.
480
To Cash A/c
8,960
(Goods purchased for cash @ 6% CGST and SGST)
Jan.10
Ahmed & Co.
Dr.
11,200
To Sales A/c
10,000
To Output IGST A/c
1,200
(Goods sold on credit @ 12% IGST)
Jan.11
Bank A/c
Dr.
50,000
To Cash A/c
50,000
(Cash deposited into bank)
Jan.13
Computers A/c
Dr.
20,000
Input CGST A/c
Dr.
1,200
Input SGST A/c
Dr.
1,200
To Cash A/c
22,400
(Computers purchased @ 6% CGST and SGST)
Jan.15
Cash A/c
Dr.
70,000
To Loan from Mehboob
70,000
(Loan taken from Mehboob)
Jan.16
Sales Return A/c
Dr.
2,000
Output IGST A/c
Dr.
240
To Ahmed & Co.
2,240
(Goods returned by Ahmed & Co.)
Jan.17
Furniture A/c
Dr.
10,000
Input CGST A/c
Dr.
600
Input SGST A/c
Dr.
600
11,200
To Mehfil Mart (Furniture purchased @ 6% CGST and SGST)
Jan.18
Interest on Mehboob Loan A/c
Dr.
2,000
To Cash A/c
2,000
(Interest on Loan paid)
Jan.19
Insurance Claim A/c
Dr.
1,000
To Ahmed & Company
1,000
(Insurance Claim due)
Jan.22
Rent A/c
Dr.
2,000
Input CGST A/c
Dr.
120
Input SGST A/c
Dr.
120
2,240
To Bank A/c (Rent paid with 6% CGST and SGST)
Jan.24
Cash A/c
Dr.
20,000
To Bank A/c
20,000
(Cash withdrawn from bank)
Jan.25
Cash A/c
Dr.
10,080
To Sales A/c
9,000
To Output CGST A/c
540
To Output SGST A/c
540
(Goods sold for cash @ 6% CGST and SGST)
Jan.26
Loss by Accident A/c
Dr.
11,200
To Purchases A/c
10,000
To Input IGST A/c
1,200
(Goods lost by accident and IGST reversed )
Jan.27
Advertisement A/c
Dr.
5,000
Input CGST A/c