Accountancy, asked by Hannibal6886, 10 months ago

Sold half of the goods purchased on 9th April at 20% Profit and 28% GST

Answers

Answered by jeetmishra936
7

answer will be divide it gst = gst/100

Answered by isyllus
18

JOURNAL

Explanation:

For Journal

we have some basic rules

Increase in Liability credit

Decrease in Liability debit

Profit/Sale will be credited

Transaction: sold half goods purchased with gst

Aspect 1. Sale is our revenue so credited  

Aspect 2. there is credit sale means increase debtor that is asset so rule is debit

Aspect 3. during sale we get GST that is income for us so credited

Let we Purchase Total Goods = 100

we sale half of these means = 50 with 20% Profit

so Sale = 60

GST = 28%

Debtors A/C                           74

   To Sale A/C                                                60

    To Output CGST A/C                                    7

     To Output SGST A/C                                   7

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