Question

/Q. 4. Record the following transactions in the books of Sahdev & Sons assuming
all transactions have been entered within the state of Bihar, Charging CGST and SGST
@ 9% each
(1) Bought goods from Nanak Bros. for 34,00,000 at 10% trade discount and 3% cảsh
discount. 25% of the amount paid at the time of purchase.
(i) Sold goods to Kumar & Sons. for 2,00,000 at 20% trade discount and 5% cash.
discount. 60% of the amount received by Cheque.!
(it) Received from Gopi Chand 38,000 by Cheque after deducting 5% cash discount.
(iv) Paid *20,000 for rent by Cheque.
(v) Paid 50,000 for salaries by Cheque.
(vi) Goods worth 10,000 distributed as free samples.
(vii) *5,000 due from Chanderkant are bad-debts.
(viii) Sold household furniture for 15,000 and the proceeds were invested into business.​

Answer 1

Answer:

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