Question

the following transactions in the books of Mohan Agencies, Karnataka
Oct 1 Commenced business with Cash Rs.1,50,000 and by Rs.1,00,000 by Cheque
Oct 4 Bought goods from Hari Traders, Gujarat of list price of Rs.15,000 less 10% trade
discount and 2% Cash Discount, IGST is levied @12% and paid 40% by cheque.
Oct 10 Provide 10% depreciation on Furniture costing Rs.73,200
Oct 12 Paid to Arjun Rs.23,800, in full settlement of his account Rs. 24,000.
Oct 15 Sold goods of list price of Rs.60,000 at 10% trade discount and 2% cash discount to
Harshit Agencies, Karnataka. CGST and SGST is levied @6% each. Harshit paid the
amount promptly.
Oct 18 Withdrew cash for personal use Rs 6,000 and Rs.4,000 for office use from bank
Oct 20 Satish became insolvent. A first and final compensation of 40 paise in a rupee was
received from his Official Receiver. He owed us Rs.40,000
Oct 21 Salaries due to Arun Rs.20,000
Oct 22 Goods costing Rs2,000 (Sales price Rs.2,500) given as Charity
Oct 25 Charge interest on Drawings Rs.3,750
Oct 27 Paid Rs.6,000 in cash for installation of Machinery
Oct 30 Received commission Rs.55000, half of which is in advance​

Answer 1

Explanation:

Without Goods and Services Tax (GST)

Following transactions of Ramesh for April,2018 are given below. Journalise them.

TS Grewal Accountancy Class 11 Solutions Chapter 5 Journal Q1