Question

Sold goods to Krishna of Delhi at the list price 20k, trade discount 10% add rate 9% cgst and sgst each, and allow cash discount 5%. He paid the amount immediately

Answer 1

Answer:

. 1008

to sales A/c. 18,000

to output CGST A/c. 1,080

to output SGST A/c. 1,080

calculations

Q:sold goods to krishna of delhi at the list price 20000 less trade discount 10%

therefore,

sales A/c. = 20,000 - 2000

= 18,000

CGST and SGST will be charged on this amount which is excluding the cash discount,

18,000 x 6/100

=1080

now cash discount will be charged on the amount including CGST and SGST, 18000+1080+1080 x 5/100

= 20160x5/100

= 1008,cash discount

thus amount to be debited from krishna A/c will be 20160 - 1008 = 19152

Explanation:

Answer 2

Answer:

18,639

Explanation:

20000 - 10% + 9% - 5%

= 18,639