Recording of Transactions - 2 — Account STD 11 Commerce — Question

You are to open the books of Rajesh Prabhu, Gurugram (Haryana) a trader, through the Journal to record the assets and liabilities and then post the transactions to the Ledger for the month of April, 2019.
Inter-state transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with (*).

Mohit has the following transactions, prepare accounting equation:

a.	Business started with cash	₹ 1,75,000
b.	Purchased goods from Rohit	₹ 50,000
c.	Sales goods on credit to Manish (Costing ₹ 17,500)	₹ 20,000
d.	Purchased furniture for office use	₹ 10,000
e.	Cash paid to Rohit in full settlement	₹ 48,500
f.	Cash received from Manish	₹ 20,000
g.	Rent paid	₹ 1,000
h.	Cash withdrew for personal use	₹ 3,000

(Ans: Cash ₹ 1,32,500 + Goods ₹ 32,500 + Furniture ₹ 10,000 = ₹ 1,75,000; Liabilition = Capital ₹ 1,75,000)

Distinguish between Journal and Ledger.

Following transactions took place in M/s Goodluck Computers. Prepare the Accounting Vouchers

2019	Particular	₹
Jan-1	Bought Computer Mouse (4 Nos.) vide Cash Memo No. 338*	6,000
Jan-8	Wages paid for the month of December, 2018	10,000
Jan-12	Purchased two Desktop Computers from M/s Computech for cash vide Cash Memo No. 170	32,500
Jan-25	Paid cash to Hari & Sons vide receipt No. 102 for repairs	1,000
Jan-28	Paid postage	200
Jan-30	Cash withdrawn from bank	10,000

Transactions marked with * are subject to levy of CGST and SGST @ 6% each.

Find out the due dates of the bills in the following cases:

	Date of the Bills	Period
I.	29th May, 2017	4 months
II.	31st March, 2017	1 month
III.	21st July, 2017	60 days
IV.	14th May, 2017	90 days
V.	28th January, 2016	1 month
VI.	31st January, 2016	1 month
	Emergency holiday 22nd September

Journalise the following transaction in the Book of M/s. Beauti traders Also post them in the ledger.

Dec. 2017		₹
1	Started business with cash	2,00,000
2	Bought office furniture	30,000
3	Paid into bank to open an current account	1,00,000
5	Purchased a computer and paid by cheque	2,50,000
6	Bought goods on credit from Ritika	60,000
8	Cash sales	30,000
9	Sold goods to Karishna on credit	25,000
12	Cash paid to Mansi on account	30,000
14	Goods returned to Ritika	2,000
15	Stationery purchased for cash	3,000
16	Paid wages	1,000
18	Goods returned by Karishna	2,000
20	Cheque given to Ritika	28,000
22	Cash received from Karishna on account	15,000
24	Insurance premium paid by cheque	4,000
26	Cheque received from Karishna	8,000
28	Rent paid by cheque	3,000
29	Purchased goods on credit from Meena Traders	20,000
30	Cash sales	14,000

What are ‘Books of Original Entry'?

Enter the following transactions in the Journal of Manohar Lal & Sons:

2019		₹
March 1	Manohar Lal & Sons started business with cash	60,000
March 2	Purchased furniture for cash	10,000
March 4	Purchased goods for cash	25,000
March 5	Bought goods from Kamlesh	15,000
March 10	Paid cash to Kamlesh	15,000
March 16	Purchased goods from Sohan	6,000
March 18	Purchased goods from Sohan for cash	8,000
March 20	Paid rent for the office	1,000

Open 'T' shape account of our creditor 'Raghubir' and write the following transactions on the proper side:

1. Purchased goods from Raghubir on credit for ₹ 50,000.
2. Returned goods to Raghubir for ₹ 5,000.
3. Paid to Raghubir ₹ 30,000.
4. Purchased goods from Raghubir on credit for ₹ 16,000.
5. Paid to Raghubir ₹ 20,000.

Record the following transactions in the books of Sahdev & Sons assuming all transactions have been entered within the state of Bihar, Charging CGST and SGST @ 9% each.

1.	Bought goods from Nanak Bros. for ₹ 4,00,000 at 10% trade discount and 3% cash discount on purchase price. 25% of the amount paid at the time of purchase.
2.	Sold goods to Kumar & Sons. for ₹ 2,00,000 at 20% trade discount and 5% cash discount on sale price. 60% of the amount received by Cheque.
3.	Received from Gopi Chand ₹ 38,000 by Cheque after deducting 5% cash discount.
4.	Paid ₹ 20,000 for rent by Cheque.
5.	Paid ₹ 50,000 for salaries by Cheque.
6.	Goods worth ₹ 10,000 distributed as free samples.
7.	₹ 5,000 due from Chanderkant are bad-debts.
8.	Sold household furniture for ₹ 15,000 and the proceeds were invested into business.