Question

Sold goods costing 100000 to anil of delhi at a profit of 20% on sales less 20% trade discount plus CGST and SGST@9% each

Answer 1

Answer:

TRADE DISCOUNT : IT SIMPLY MEANS A DISCOUNT WHICH IS GIVEN TO ALL & THIS DISCOUNT SHOULD NOT BE RECORDED IN THE BOOK

SALES AMOUNT : 50000

LESS TRADE DISCOUNT @10% = 4500

AMOUNT AFTER TRADE DISCOUNT = 45000

CASH DISCOUNT @10% = 4500

AMOUNT AFTER CASH DISCOUNT = 40500

THE JOURNAL ENTRY OF THE ABOVE TRANSACTION IS :

CASH A/C DR 8100

BANK A/C DR 20500

DISCOUNT ALLOWED A/C DR 4500

DEPTORS A/C DR 12150

TO SALES A/C 45000

( BEING SALE MADE WITH TRADE DISCOUNT 5000 & CASH DISCOUNT 4500 )

AMOUNT RECEIVED THROUGH CHEQUE @50%

40500 × 50% = 20250

AMOUNT RECEIVED IN CASH @20%

40500 × 20% = 8100

AMOUNT DUE TO DEPTROS @30%

40500 × 30% = 12150

HOPE U WILL MARK ME AS BRAINLIEST

Answer 2

Answer:

Anil A/C.........Dr 1,18,000

To Sales A/C 1,00,000

To Output CGST A/C 9,000

To Output SGST A/C 9,000

( Being Goods Sold )

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