Q. Pass entries in the books of Ganguli & Sons, assuming all transactions have
been entered in the state of West Bengal :
(i)Purchased goods for 2,00,000 and payment made by cheque.
(ii) Sold goods for 1,60,000 to Devki Nandan & Sons
(iii) Purchased goods for 50,000 on credit.
(iv) Paid for printing and stationery 24,000.
(v) Received for commission 5,000.
(vi) Output GST adjusted against Input GST.
Answers
Here is the answer
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Date Particulars L.F. Debit Credit
Amount Amount
(₹) (₹)
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Purchases A/c Dr. 2,00,000
Input CGST A/c Dr. 12,000
Input SGST A/c Dr. 12,000
To Cheque A/c 2,24,000
(Purchased goods and 1,79,200
paid by cheque) Dr.
Devki Nandan & Sons A/c
To Sales A/c 1,60,000
To Output CGST A/c 9,600
To Output SGST A/c 9,600
(Sold goods toDevki Nandan & Sons)
Purchases A/c Dr. 50,000
Input CGST A/c Dr. 3,000
Input SGST A/c Dr. 3,000
To Creditor A/c
(Purchased goods on credit) 56,000
Printing & Stationery A/c Dr. 4,000
Input CGST A/c Dr. 240
Input SGST A/c Dr. 240
To Cash A/c 4,480
(Paid for printing and stationery)
Cash A/c Dr. 5,600
To Interest Received A/c 5,000
To Output CGST A/c 300
To Output SGST A/c 300
(Interest received)
Advertisement A/c Dr. 30,000
Input CGST A/c Dr. 1,800
Input SGST A/c Dr. 1,800
To Bank A/c 33,600
(Paid for advertisement)
Output CGST A/c Dr. 9,900
Output SGST A/c Dr. 9,900
To Input CGST A/c 9,900
To Input SGST A/c 9,900
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(Input tax credit availed) 5,22,680 5,22,680
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Input CSGT (Balance) = Rs 7,140
Input SGST (Balance) = Rs 7,140
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