Accountancy, asked by Michaeldididika8497, 1 year ago

Pass entries in the book of Devdhar Charging CGST and SGST 9% 2018 March4 purchased goods for 500000 form Sunil Bros

Answers

Answered by DivyamRajvanshi
4
Hey There !

Purchase A/c. Dr 500000
Input CGST A/c Dr 45000
Input SGST A/c. Dr 45000
To sunil bros . 590000

Thanks

Mark as brainliest .
Answered by sujiritha95
3

3 golden rules

• debit the receiver , credit the giver

•       debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

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reason for debit and credit

Purchases A/c - nominal A/c - where its the expenses to the company therefore its debited

Sunil Bros A/c - personal A/c , here the supplier is giver of the goods therefore its credited

CGST & SGST - Its debited

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Journal entry

Purchases A/c   Dr  500000

CGST A/c    Dr            45000

SGST A/c  Dr               45000

               To Sunil Bros A/c             590000

(being credit purchases made )

* it has been assumed that purchase is exclusive of tax  

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