Question 1.
Journal
Without Goods and Services Tax (GST)
Following transactions of Ramesh for April,2018 are given below. Journalise them.
Answers
Answer:
good morning everyone is my favourite to hack a legend
Journal Entries for the given transactions without GST
Explanation:
In The Books of Ramesh
Journal Entries:
1.4.18 Cash A/c Dr. Rs.1,00,000
To Capital A/c Rs.1,00,000
(Being capital introduced into business)
2.4.18 Bank A/c Dr. Rs.20,000
To Cash A/c Rs.20,000
(Being Cash transferred to bank)
3.4.18 Purchases A/c Dr. Rs.50,000
To Cash A/c Rs.50,000
(Being Goods purchased)
4.4.18 Office and Admn. A/c Dr. Rs.10,000
To Bank A/c Rs.10,000
(Being cash withdrawn from bank for office use)
13.4.18 Krishna A/c Dr. Rs.15,000
To Sales A/c Rs.15,000
(Being goods sold to Krishna on credit)
20.4.18 Purchases A/c Dr. Rs.22500
To Shyam A/c Rs.22500
(Being goods purchased on credit from Shyam)
24.4.18 Cash A/c Dr. Rs.12500
Discount Allowed A/c Dr. Rs.500
To Krishna A/c Rs.13500
(Being cash received from Krishna and discount allowed)
28.4.18 Shyam A/c Dr. Rs.22500
To Discount received A/c Rs.1000
To Cash A/c Rs.21500
(Being payment made to shyam and discount received)
Sales Return A/c Dr. Rs.2000
To Krishna A/c Rs.2000
(Being goods returned by Krishna)
30.4.18 Cash A/c Dr. Rs.80,000
To Sales A/c Rs.80,000
(Being goods sold for cash)
Rent A/c Dr. Rs.5,000
Salary A/c Dr. Rs.10,000
To Cash A/c Rs.15,000
(Being expenses paid)