Question No 05 Chapter No 6 - D.K Goal Class 11

Question No 05 Chapter No 6

05.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

(i)	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.
(ii)	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.
(iii)	Received from Gopi Chand 38,000 by Cheque after deducting 5% cash discount.
(iv)	Paid 20,000 for rent by Cheque
(v)	Paid 20,000 for rent by Cheque
(vi)	Goods worth 10,000 distributed as free samples
(vii)	5,000 due from Chanderkant are bad-debts.
(viii)	Sold household furniture for 15,000 and the proceeds were invested into business.

The solution of Question No 05 Chapter No 6: –

In the Books of Radhika Traders
Date	Particulars		L.F.	Debit	Credit
2019
i	Purchases A/c	Dr.		3,60,000
	Input CGST A/c	Dr.		32,400
	Input SGST A/c	Dr.		32,400
	To Cash A/c				1,03,014
	To Nanak Bros. A/c				3,18,600
	To Discount Received A/c				3,186
	(Being Purchased from Mehta Bros.)

ii	Kumar & Sons A/c	Dr.		75,520
	Bank A/c	Dr.		1,07,616
	Discount Allowed A/c	Dr.		5,664
	To Sale A/c	.			1,60,000
	To Output CGST A/c				14,400
	To Output SGST A/c				14,400
	(Being Sold goods to Munjal & Co..)

iii	Bank A/c	Dr.		38,000
	Discount Allowed A/c	Dr.		2,000
	To Gopi Chand A/c				40,000
	(Being Paid for advertisement.)

iv	Rent A/c	Dr.		20,000
	Input CGST A/c	Dr.		1,800
	Input SGST A/c	Dr.		1,800
	To Bank A/c				23,600
	(Being Purchased office furniture.)

v	Salaries A/c	Dr.		50,000
	To Bank A/c				50,000
	(Being Paid Salaries)

vi	Advertisement A/c	Dr.		11,800
	To Purchases A/c				10,000
	To Input CGST A/c				900
	To Input SGST A/c				900
	(Being Goods distributed as free samples)

vi	Bad Debts A/c	Dr.		5,000
	To Chanderkant A/c				5,000
	(Being Debtor proved bad)

viii	Cash A/c	Dr.		15,000
	To Capital A/c				15,000
	(Being Invested money into business)