Question

With Goods and Services Tax (GST)
3. Journalise the following transactions in the books of Afzal, Kolkata and post them to the Ledger:
ant
2018
Jan.
5 Cash sales
Jan
Jan.
Jan
Jan.
Jan.
Jan.
Jan
Jan
Jan.
Jan.
Jan.
₹
1,00,000
20,000
5,000
8,000
10,000
50,000
20,000
70,000
2,000
10,000
2,000
1 Started business with cash
3 Bought goods on credit from Gupta & Co., Delhi
8 Cash purchases
10 Sold goods to Ahmed & Co., Lucknow
11 Deposited cash in bank
13 Purchased a computer for office
15 Took a loan from Mehboob
16 Goods returned by Ahmed & Co.
17 Purchased furniture from Mehfil Mart, Kolkata
18 Pald interest to Mehboob*
19 Received claim from Ahmed & Co. for defects in goods supplied to them. Claim was
accepted and rebate was allowed.*
22 Paid rent by cheque
24 Withdrew from bank*
25 Sales of goods at counter after allowing trade discount of 10%
Jan. 26 Goods purchased from Gupta & Co., Delhi were destroyed by accident
Jan. 27 Advertisement expenses paid through bank
Jan. 28 Ahmed & Co. settled their account by cheque
Jan. 29 Paid to Gupta & Co. by cheque*.
Discount allowed by them
Jan. 31 Sold old newspapers ..
Jan
Jan.
Jan.
1,000
2,000
20,000
10,000
10,000
5,000
7,000
18,000
2,000
500
Intra-state transactions are subject to levy of CGST and SGST @ 6% each whereas inter-state
1
Ta​

Answer 1

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