TS Grewal Accountancy Class 11 Solution Chapter 5 Journal

Read TS Grewal Accountancy Class 11 Solution Chapter 5 Journal 2023 2024. Students should study TS Grewal Solutions Class 11 Accountancy available on Studiestoday.com with solved questions and answers. These chapter-wise answers for Class 11 Accountancy have been prepared by expert teachers of Grade 11. These TS Grewal Class 11 Solutions have been designed as per the latest accountancy TS Grewal Book for Class 11 and if practiced thoroughly can help you to score good marks in standard 11 Accounts class tests and examinations.

Class 11 Accounts Chapter 5 Journal TS Grewal Solutions

TS Grewal Solutions for Chapter 5 Journal Class 11 Accounts have been provided below based on the latest TS Grewal Class 11 book. The answers have been prepared based on the latest 2023 2024 book for the current academic year. TS Grewal Solutions Class 11 will help students to improve their concepts and easily solve accountancy questions for Class 11. Class 11 Grewal solutions should be revised regularly as more practice will help you get a better rank and easily solve more questions.

Chapter 5 Journal TS Grewal Class 11 Solutions

PAGE NO 8.51:

Question 1:

Journal
Without Goods and Services Tax (GST)
Following transactions of Ramesh for April, 2018 are given below. Journalise them.

2018
April 1
April 2
April 3
April 4
April 13
April 20
April 24

April 28

April 28
April 30
April 30
April 30

Ramesh started business with cash
Paid into bank
Bought goods for cash
Drew cash from bank for office use
Sold goods to Krishna on credit
Bought goods from Shyam on credit
Received from Krishna
Allowed him discount
Paid cash to Shyam
Discount received
Krishna returned goods
Cash sales for the month
Paid rent
Paid salary

1,00,000
20,000
50,000
10,000
15,000
22,500
12,500
500
21,500
1,000
2,000
80,000
5,000
10,000

Answer 1:

Statement showing Journal Entries

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
2018
Apr 01	Cash A/c	Dr.		1,00,000
	To Capital A/c				1,00,000
	(Being Commenced business with cash by Ramesh)

Apr 02	Bank A/c	Dr.		20,000
	To Cash A/c				20,000
	(Being Deposited amount into bank)

Apr 03	Purchases A/c	Dr.		50,000
	To Cash A/c				50,000
	(Being Goods purchased for cash)

Apr 04	Cash A/c	Dr.		10,000
	To Bank A/c				10,000
	(Being Amount withdrawn from bank for office use)

Apr 13	Krishna ‘s A/c	Dr.		15,000
	To Sales A/c				15,000
	(Being Goods sold to Krishna on credit)

Apr 20	Purchases A/c	Dr.		22,500
	To Shyam A/c				22,500
	(Being Goods purchased from Shyam on credit)

Apr 24	Cash A/c	Dr.		12,500
	Discount Allowed A/c	Dr.		500
	To Krishna A/c				13,000
	(Being Received from Krishna and discount allowed to him)

Apr 28	Shyam A/c	Dr.		22,500
	To Cash A/c				21,500
	To Discount Received A/c				1,000
	(Being Paid to Shyam and discount received from him)

Apr 28	Sales Return A/c	Dr.		2,000
	To Krishna A/c				2,000
	(Being Goods returned by Krishna)

Apr 30	Cash A/c	Dr.		80,000
	To Sales				80,000
	(Being goods sold by Cash)

Apr 30	Rent A/c	Dr.		5,000
	To Cash A/c				5,000
	(Being Rent Paid to landlord)

Apr 30	Salary A/c	Dr.		10,000
	To Cash A/c				10,000
	(Being Salary Paid to employ)

PAGE NO 8.52:

Question 2:

Journalise the following transactions of Mr. Rahul:

2018		Rs
Jan. 1	Rahul started business with cash	1,00,000
Jan. 2	Paid into bank	60,000
Jan. 3	Bought goods from M/s. Singh & Co. on credit	20,000
Jan. 3	Paid cartage	300
Jan. 4	Purchased furniture	2,000
Jan. 4	Place an order for HP Printers for Rs15,000, amount advanced	5,000
Jan. 4	Purchased calculator	1,000
Jan. 4	Purchased computer through cheque	13,000
Jan. 6	Paid for postage	150
Jan. 8	Sold goods for cash	4,000
Jan. 9	Sold goods on credit to M/s. Sharda & Co.	10,000
Jan. 9	Paid cartage	200
Jan. 15	Paid to M/s Singh & Co. on account	17,500
Jan. 25	Sold goods to M/s. Ray & Co.	5,600
Jan. 27	Received cheque from M/s. Sharda & Co. in full settlement of amount due from them	9,750
Jan. 31	Paid for electricity charges	1,000
Jan. 31	Paid salary	1,500
Jan. 31	Paid rent of building by cheque , half of the building is used by the proprietor for residential use	5,000
Jan. 31	Drew for private use	3,500

Answer 2:

Statement showing Journal Entries of Mr.Rahul’s

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
2018
Jan.01	Cash A/c	Dr.		1,00,000
	To Capital A/c				1,00,000
	(Being Business started with cash by Rahul)

Jan.02	Bank A/c	Dr.		60,000
	To Cash A/c				60,000
	(Being Cash deposited into Bank)

Jan.03	Purchases A/c	Dr.		20,000
	To M/s Singh & Co.				20,000
	(Being stock purchased from M/s Singh & Co,)

Jan.03	Cartage A/c	Dr.		300
	To Cash A/c				300
	(Being Cartage paid)

Jan.04	Furniture A/c	Dr.		2,000
	To Bank A/c				2,000
	(Being furniture purchased by cheque)

Jan.04	HP Printers A/c	Dr.		5,000
	To Bank A/c				5,000
	(Being Advance Amount paid for placing an order for printer)

Jan.04	Office Equipments A/c	Dr.		1,000
	To Bank A/c				1,000
	(Being Calculator purchased by cheque)

Jan.04	Computer A/c			13,000
	To Bank A/c				13,000
	(Being Computer purchased by cheque)

Jan.06	Postage A/c	Dr.		150
	To Cash A/c				150
	(Being Postage paid)

Jan.08	Cash A/c	Dr.		4,000
	To Sales A/c				4,000
	(Being goods Sold for cash)

Jan.09	M/s Sharda & Co. A/c	Dr.		10,000
	To Sales A/c				10,000
	(Goods Sold to M/s Sharda & Co.)

Jan.09	Cartage A/c	Dr.		200
	To Cash A/c				200
	(Being Cartage paid)

Jan.15	M/s Singh & Co. A/c	Dr.		17,500
	To Cash A/c				17,500
	(Being amount paid to M/s Singh & Co.)

Jan.25	M/s Ray & Co. A/c	Dr.		5,600
	To Sales A/c				5,600
	(Goods Sold to M/s Ray & Co.)

Jan.27	Bank A/c	Dr.		9,750
	Discount Allowed A/c	Dr.		250
	To M/s Sharda & Co. A/c				10,000
	(Payment Received from M/s Sharda & Co.)

Jan.31	Electricity Charges A/c	Dr.		1,000
	To Cash A/c				1,000
	(Being amount paid for Electricity Charges)

Jan.31	Salary A/c	Dr.		1,500
	To Cash A/c				1,500
	(Being Salary paid to employs)

Jan.31	Rent A/c	Dr.		2,500
	Drawings A/c	Dr.		2,500
	To Cash A/c				5,000
	(Being Rent paid half from it for personal use)

Jan.31	Drawings A/c	Dr.		3,500
	To Cash A/c				3,500
	(Being amount withdrawn for personal use)

PAGE NO 8.52:

Question 3:

Journalise the following transactions in the books of M/s. R.K. & Co.:
(i) Purchased goods at list price of  Rs 20,000 from Vishal at 20% trade discount against cheque payment.
(ii) Purchased goods at list price of  Rs 20,000 from Naman at 15% trade discount against cash.
(iii) Purchased goods at list price of  Rs 30,000 from Amrit at 20% trade discount.
(iv) Purchased goods at list price of  Rs 40,000 for Rs 35,000 for cash.
(v) Goods returned of list price Rs 10,000 purchased from Amrit.
(vi) Sold goods to Parul at list price of  Rs 40,000 at 10% trade discount against cheque payment.
(vii) Sold goods to Aman at list price of  Rs 30,000 at 10% trade discount against cash.
(viii) Sold goods to Pawan at list price of  Rs 20,000 at 10% trade discount.
(ix) Sold goods to Yamini at list price of  Rs 25,000 for Rs 23,000.
(x) Sold goods costing Rs 10,000 at cost plus 20% less 10% trade discount to Bhupesh.
(xi) Sold goods purchased at list price of  Rs 50,000 less 15% trade discount sold at a profit of 25% less 10% trade discount against cheque.
(xii) Aman returned goods of list price of Rs 10,000 sold to him at 10% trade discount.

Answer 3:

Statement showing Journal Entries of M/s R.K. & Co.

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)

(i)	Purchase A/c	Dr.		16,000
	To Bank A/c				16,000
	(Being Purchased Goods from Vishal by cheque @ 20% trade discount received)

(ii)	Purchase A/c	Dr.		17,000
	To Cash A/c				17,000
	(Being purchased Goods by cash @ 15% trade discount received)

(iii)	Purchase A/c	Dr.		24,000
	To Amrit’s A/c				24,000
	(Being Goods purchased from Amrik on credit mode @ 20% trade discount received)

(iv)	Purchase A/c	Dr.		35,000
	To Cash A/c				35,000
	(Being Goods purchased by cash @ Rs. 5000 discount received)

(v)	Amrit’s A/c	Dr.		8,000
	To Purchase Returns A/c				8,000
	(Being Goods returned to Amrik)

(vi)	Bank A/c	Dr.		36,000
	To Sales A/c				36,000
	(Being sold Goods to Parul by cheque @ 10% trade discount allowed)

(vii)	Cash A/c	Dr.		27,000
	To Sales A/c				27,000
	(Being Goods sold cash mode @ 10% trade discount allowed)

(viii)	Pawan’s A/c	Dr.		18,000
	To Sales A/c				18,000
	(Being Goods sold to Pawan on credit mode @ 20% trade discount allowed)

(ix)	Yamini’s A/c	Dr.		23,000
	To Sales A/c				23,000
	(Being Goods sold to Yamini on credit mode)

(x)	Bhupesh’s A/c	Dr.		10,800
	To Sales A/c				10,800
	(Being Goods sold to Bhupesh on credit mode)

(xi)	Bank A/c	Dr.		47,812.50
	To Sales A/c				47,812.50
	(Being Goods sold by cheque)

(xii)	Sales Returns A/c	Dr.		9,000
	To Aman				9,000
	(Being sales returned by Aman )

Points of Knowledge:-

Working Notes:

Working Note 1: Calculation of Selling price

Selling Price = Cost Price + Profit- Trade Discount

= 10,000 + 2,000 – 1200 =10,800

Profit = 10,000(cost price) × 20%= 2,000

Calculation of Trade Discount =12000 × 10%=Rs 1,200

Working Note 2: Calculation of Purchase price and selling price

Purchase Price = List Price – Trade Discount

= 50,000 – 7,500 = 42,500

Trade Discount = 50,000 × 15% = Rs. 7,500

Sales Price = Purchase Price + Profit – Trade Discount

= 42,500 + 10,625 – 5312.5 = 47,812.5

Calculation of profit = 42,500 × 25% = Rs. 10,625

Calculation of Trade Discount = 53,125 × 10% =5,312.5

PAGE NO 8.52:

Question 4:

Journalise the following transactions in the books of Bhushan Agencies:
(i) Received from Bharat cash Rs 20,000, allowed him discount of  Rs 500.
(ii) Received from Vikas  Rs 35,000 by cheque, allowed him discount of  Rs 750.
(iii) Received from Akhil  Rs 38,000 in settlement of his dues of  Rs 40,000 in cash.
(iv) Received from Amrit  Rs 50,000 by cheque on account against dues of  Rs 60,000.
(v) Paid cash  Rs 40,000 to suresh, availed discount of 2%.
(vi) Paid by cheque  Rs 25,000 to Mehar and settled her dues of  Rs 26,000.
(vii) Paid  Rs 25,000 to Yogesh by cheque on account.
(viii) Purchased goods costing  Rs 1,00,000 against cheque and availed discount of 3%.
(ix) Purchased goods costing  Rs 60,000 from Akash & Co., paid 50% immediately availing 3% discount.
(x) Sold goods of  Rs 30,000 against cheque allowing 2% discount.
(xi) Sold goods of  Rs 60,000 to Vimal received 50% of due amount allowing 2% discount.

Answer 4:

Statement showing Journal Entries of Bhushan Agenchies

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)

(i)	Cash A/c	Dr.		20,000
	Discount Allowed A/c	Dr.		500
	To Bharat’s A/c				20,500
	(Being Amount Received from Bharat and Discount allowed)

(ii)	Bank A/c	Dr.		35,000
	Discount Allowed A/c	Dr.		750
	To Vikas’s A/c				35,750
	(Being Amount Received from Vikas and discount allowed)

(iii)	Cash A/c	Dr.		38,000
	Discount Allowed A/c	Dr.		2,000
	To Akhil’s A/c				40,000
	(Being Amount received from Akhil and discount allowed)

(iv)	Bank A/c	Dr.		50,000
	To Amrit’s A/c				50,000
	(Being Amount received from Amrit Rs. 50,000)

(v)	Suresh’s A/c	Dr.		40,000
	To Cash A/c				39,200
	To Discount Received A/c				800
	(Being amount paid to Mr. Suresh and discount received from him)

(vi)	Mehar’s A/c	Dr.		26,000
	To Bank A/c				25,000
	To Discount Received A/c				1,000
	(Being amount paid to Mr. Meher and discount received)

(vii)	Yogesh’s A/c	Dr.		25,000
	To Bank A/c				25,000
	(Being amount paid to Yogesh)

(viii)	Purchases A/c	Dr.		97,000
	To Bank A/c				97,000
	(Being stock bought against cheque and discount received @ 3%)

(ix)	Purchases A/c	Dr.		60,000
	To Akash & Co. A/c				30,000
	To Cash A/c				29,100
	To Discount Received A/c				900
	(Being stock bought from Akash & Co., half amount paid and discount received @ 3%)

(x)	Bank A/c	Dr.		29,400
	Discount Allowed A/c			600
	To Sales A/c				30,000
	(Being Goods sold and cheque received and discount allowed 2%)

(xi)	Vimal’s A/c	Dr.		30,000
	Cash A/c	Dr.		29,400
	Discount Allowed A/c	Dr.		600
	To Sales A/c				60,000
	(Being Goods sold to Vimal, half amount received in cash & discount allowed @ 2%)

Points of Knowledge:-

In 4^th transection amount received from amrita Rs. 50,000; amount due with her now Rs 10,000.

Goods Purchased of Rs. 60,000. Half of it Rs. 60,000 × ½ = 30,000.

Discount received on cash payment = Rs. 30,000 × 3% = 900

Cash Amount Paid = 30,000 – 900 = Rs. 29,100

Goods Sold of Rs. 60,000. Half of it Rs. 60,000 × ½ = 30,000.

Discount allowed on cash payment = Rs. 30,000 × 2% = 600

Cash Amount Paid = 30,000 – 600 = Rs. 29,400

PAGE NO 8.53:

Question 5:

Journalise the following transactions:

		Amount (Rs)
(i)	Shyam became insolvent. A first and final compensation of 75 paise in a rupee was received from his Official Receiver . He owed us	10,000
(ii)	Received cash for a bad debt written off last year .	5,000
(iii)	Rent due to landlord.	8,000
(iv)	Salaries due to clerks.	10,000
(v)	Placed an order with Rakesh Mohan for the supply of goods of the list price of Rs 1,00,000 . In this connection, Raman paid 10% of the list price as an advance by cheque.

Answer 5:

Statement showing Journal Entries

Journal
Sr. No.	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)

(i)	Cash A/c	Dr.		7,500
	Bad Debts A/c	Dr.		2,500
	To Shyam’s A/c				10,000
	(Being Mr. Shyam was Insolvent and only 75 paisa in a rupee is recoverable)

(ii)	Cash A/c	Dr.		5,000
	To Bad Debts Recovered A/c				5,000
	(Being Amount received from bad debts recovered)

(iii)	Rent A/c	Dr.		8,000
	To Outstanding Rent A/c				8,000
	(Being amount of Rent due to landlord)

(iv)	Salary A/c	Dr.		10,000
	To Outstanding Salary A/c				10,000
	(Being amount of Salary due to clerk)

(v)	Advance Paid A/c	Dr.		10,000
	To Bank A/c				10,000
	(Being an advance amount paid to Rakesh Mohan for an order)

Point of knowledge:-

· 1 rupee = 100 paisa

Amount recoverable = 10,000 × 75/100 = Rs. 7,500

PAGE NO 8.53:

Question 6:

Journalise the following entries:

(i) Goods worth Rs 500 given as charity.
(ii) Sold goods to Mayank of Rs 1,00,000, payable 25% by cheque at the time of sale and balance after 30 days of sale.
(iii) Received Rs 975 from Harikrishna in full settlement of his account for 1,000.
(iv) Received a first and final dividend of 60 paise in a rupee from the Official Receiver of Rajan, who owed us Rs 1,000.
(v) Charged depreciation on plant Rs 1,000.
(vi) Charge interest on Drawings Rs 1,500.
(vii) Sold goods costing Rs 40,000 to Anil for cash at a profit of 25% on cost less 20% trade discount and charged 8% Value Added Tax and paid cartage Rs 100, which is not to be charged from customer.

Answer 6:

Statement showing Journal Entries

Journal
Sr. No.	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
(i)	Charity A/c	Dr.		500
	To Purchases A/c				500
	(Being goods gives as charity)

(ii)	Bank A/c	Dr.		25,000
	Mayank’s A/c	Dr.		75,000
	To Sales A/c				1,00,000
	(Being Goods sold to Mr. Mayank 25% amount received at the time of sale)

(iii)	Cash A/c	Dr.		975
	Discount Allowed A/c	Dr.		25
	To Harikrishna A/c				1,000
	(Being amount received from Mr. Harikrishna in full settlement & discount allowed to him)

(iv)	Cash A/c	Dr.		600
	Bad Debts A/c	Dr.		400
	To Rajan A/c				1,000
	(Being Mr. Ranjan was Insolvent and only 60 paisa in a rupee is recoverable)

(v)	Depreciation A/c	Dr.		1,000
	To Plant A/c				1,000
	(Being Value of plant Depreciated)

(vi)	Drawings A/c	Dr.		1,500
	To Interest on Drawings A/c				1,500
	(Being amount received from Interest on drawings)

(vii)	Cash A/c	Dr.		40,000
	To Sales A/c				40,000
	(Being goods sold to Anil at 25% of profit and 20% Trade Discount allowed on it)

	Cartage A/c	Dr.		100
	To Cash A/c				100
	(Being amount paid of Cartage)

Point of knowledge :-

Selling Price	=	Cost Price	+	Profit	-	Trade Discount
	=	40,000	+	10,000	-	10,000
	=	40,000
Calculation of Profit	=	40,000	×	25%
	=	10,000
List Price	=	40,000	+	10,000
	=	50,000
Calculation of Trade discount	=	50,000	×	20%
	=	10,000

PAGE NO 8.53:

Question 7:

Journalise the following transaction

(a)

(b)
(c)
(d)
(e)
(f)
(g)

Shyam became insolvent. A first and final compensation of 75 paise in a rupee was received from his official receiver. He owed a debt of
Received cash for a bad debt written off last year
Rent due to landlord
Depreciation on office furniture
Salaries due to staff
Paid income tax
Received commission Rs 25,000, half of which is in advance

50,000
25,000
40,000
5,000
50,000
1,50,000

Answer 7:

Statement showing Journal Entries

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
(a)	Cash A/c	Dr.		37,500
	Bad-Debts A/c	Dr.		12,500
	To Shyam A/c				50,000
	(Being Mr. Shyam is insolvent and 75 paise in a rupee received from him)

(b)	Cash A/c	Dr.		25,000
	To Bad-Debts Recovered A/c				25,000
	(Being cash received from bad-debts recover)

(c)	Rent A/c	Dr.		40,000
	To Rent Outstanding A/c				40,000
	(Being Rent outstanding)

(d)	Depreciation A/c	Dr.		5,000
	To Office Furniture A/c				5,000
	(Being Value of furniture is Depreciated)

(e)	Salary A/c	Dr.		50,000
	To Salary Outstanding A/c				50,000
	(Being Salary Outstanding)

(f)	Drawings A/c	Dr.		1,50,000
	To Cash A/c				1,50,000
	(Being income tax amount paid)

(g)	Cash A/c	Dr.		25,000
	To Commission A/c				12,500
	To Advance Commission A/c				12,500
	(Being Commission received and half it received in advance)

PAGE NO 8.53:

Question 8:

With Goods and Services Tax (GST)

Journalise the following transactions of Singh Enterprises, Delhi:

2017
June 1
June 2
June 3
June 4
June 11
June 13
June 17
June 20
June 27
June 30

Started business with cash
Deposited cheque from Savings Account in firm's account
Received cash from Ram
Purchased goods for cash
Sold goods to M/s. Hari Sales, Delhi
Paid to Ramavtar
Received from M/s. Hari Sales
Bought furniture from S.R. Furnishers against Cash (including CGST and SGST)
Paid rent
Paid salary

50,000
2,00,000
50,000
15,000
12,000
40,000
10,000
22,400
28,000
50,000

CGST and SGST @ 6% each is levied on Intra-state sale and purchase.

Answer 8:

Statement showing Journal Entries of Singh Enterprises, Delhi

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
2017
June 01	Cash A/c	Dr.		50,000
	To Capital A/c				50,000
	(Being business Started with cash)

June 02	Bank A/c	Dr.		2,00,000
	To Capital A/c				2,00,000
	(Being Amount deposited into bank from Savings A/c to Firm’s A/c as capital)

June 03	Cash A/c	Dr.		50,000
	To Ram’s A/c				50,000
	(Being amount Received from Mr. Ram)

June 04	Purchases A/c	Dr.		15,000
	Input CGST A/c	Dr.		900
	Input SGST A/c	Dr.		900
	To Cash A/c				16,800
	(Being goods purchased and GST applied)

June 11	M/s Hari A/c	Dr.		13,440
	To Sales A/c				12,000
	To Output CGST A/c				720
	To Output SGST A/c				720
	(Being goods sold on credit and GST applied)

June 13	Ramavtar’s A/c	Dr.		40,000
	To Cash A/c				40,000
	(Being amount paid to Mr. Ramavtar)

June 17	Cash A/c	Dr.		10,000
	To M/s Hari A/c				10,000
	(Being Amount received from M/s Hari)

June 20	Furniture A/c	Dr.		20,000
	Input CGST A/c	Dr.		1,200
	Input SGST A/c	Dr.		1,200
	To Cash A/c				22,400
	(Being furniture purchaseed for cash)

June 27	Rent A/c	Dr.		28,000
	To Cash A/c				28,000
	(Being rent paid to landlord)

June 30	Salary A/c	Dr.		50,000
	To Cash A/c				50,000
	(Being salary paid to employes)

Points of Knowledge:-

CGST & IGST include in amount 22,400

Calculation of Price of Furniture
Price Including Tax	=	22,400
Calculation of Tax	=	22,400	×	12/112
	=	2,400
Price Excluding Tax	=	Price Including Tax	-	Tax
	=	22,400	-	2,400
	=	20,000

CGST	=	20,000 × 6%	=	1,200
SGST	=	20,000 × 6%	=	1,200

PAGE NO 8.54:

Question 9:

Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakesh):

2018
Jan 1
Jan 2
Jan 5
Jan 7
Jan 10
Jan 15
Jan 20
Jan 25
Jan 27
Jan 28
Jan 31
Jan 31

Rakesh commenced business with cash
Purchased goods for cash
Purchased goods from Mohan, Delhi on credit
Opened bank account with Bank of India
Purchased furniture for office
Sold goods for cash
Sold goods to Ram, Delhi on credit
Cash sales
Paid to Mohan on account
Ram returns goods
Paid Salaries
Rejected and returned 10% of goods supplied by Mohan

50,000
10,000
6,000
10,000
2,000
8,000
5,000
3,500
3,000
500
9,000

CGST and SGST is levied @ 6% each on intra-state sale and purchase. IGST is levied @12% on inter-state sale and purchase.

Answer 9:

Statement showing Journal Entries of Rakesh Agencies Delhi

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
2018
Jan 01	Cash A/c	Dr.		50,000
	To Capital A/c				50,000
	(Being business Started with cash)

Jan 02	Purchases A/c	Dr.		10,000
	Input CGST A/c	Dr.		600
	Input SGST A/c	Dr.		600
	To Cash A/c				11,200
	(Being goods purchased in cash and GST applied)

Jan 05	Purchases A/c	Dr.		6,000
	Input CGST A/c	Dr.		360
	Input SGST A/c	Dr.		360
	To Mohan A/c				6,720
	(Being goods purchased on credit and GST applied)

Jan 07	Bank A/c	Dr.		10,000
	To Cash A/c				10,000
	(Being Cash deposited into bank account)

Jan 10	Furniture A/c	Dr.		2,000
	Input CGST A/c	Dr.		120
	Input SGST A/c	Dr.		120
	To Cash A/c				2,240
	(Being purchased Furniture and GST applied)

Jan 15	Cash A/c	Dr.		8,960
	To Sales A/c				8,000
	To Output CGST A/c				480
	To Output SGST A/c				480
	(Being material sold in cash and GST applied)

Jan 20	Ram A/c	Dr.		5,600
	To Sales A/c				5,000
	To Output CGST A/c				300
	To Output SGST A/c				300
	(Being goods sold on credit basis and GST applied)

Jan 25	Cash A/c	Dr.		2,800
	To Sales A/c				2,500
	To Output CGST A/c				150
	To Output SGST A/c				150
	(Being material sold in cash and GST applied)