Question No 09 Chapter No 9 – D.K Goal 11 Class

Question No 09 Chapter No 9

09.Record the following transaction in the Purchases Book of Modern Furniture House, New Delhi assuming CGST @ 6% and SGST @6%, and post it into Ledger:

Nov.3	Purchased goods from Sachdeva Furniture Store, New Delhi :
	50 Chairs @ 2,000 each
	5 Tables @ 10,000 each
	Less: 10% Trade Discount
Nov.10	Purchased furniture from Mahadeva & Co., Jaipur Rajasthan valued 2,00,000, less 12 1/2 % Trade Discount
Nov.18	Purchased furniture from Fashion Furniture House, Chandigarh of the list price of 2,50,000, less 15%.
Nov.20	Purchased from India Furniture House, New Delhi :
	100 Chairs @ 1,800 each
Nov.25	Purchased from Mohan Lal & Sons furniture of the value of 20,000 for cash.

The solution of Question No 09 Chapter No 9: –

Purchases Book
Date	Particular	Detail	Cost	Input CGST	Input SGST	Input ISGT	Total
2018 Nov.
4	Sachdeva Furniture Store, New Delhi
	50 Chairs @ Rs 2,000 each	1,00,000
	05 Tables @ Rs 10,000 each	50,000
		1,50,000
	Less: 10% Trade Discount	15,000
		1,35,000
	Add: 12% IGST	16,200
		1,51,200	1,35,000			16,200	1,51,200
10	Mahadeva & Co. Jaipur Rajasthan	2,00,000
	Less : 12 1 2% Trade Discount	25,000
		1,75,000
	Add: 6% CGST	10,500
	Add: 6% SGST	10,500
		1,96,000	1,75,000	10,500	10,500		1,96,000
18	Fashion Furniture House, Chandigarh Punjab	2,50,000
	Less: 15% Discount	37,500
		2,12,500
	Add: 6% CGST	12,750
	Add: 6% SGST	12,750
		2,38,000	2,12,500	12,750	12,750		2,38,000
20	India Furniture House, New Delhi
	100 Chairs @ 1,800 each	1,80,000
	Add: 12% IGST	21,600
		2,01,600	2,01,600			21,600	2,01,600
			7,02,500	23,250	23,250	37,800	10,36,000

Dr.	Purchases A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Nov.30	By Sundries as per Purchases Boo		7,02,500

Dr.	Sachdeva Furniture Store A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Nov.03	By Purchases A/c		1,35,000
				Nov.03	By Input IGST A/c		16,200

Dr.	Mahadeva & Co A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Nov.10	To Purchases A/c		1,75,000
				Nov.10	To Input CGST A/c		10,500
				Nov.10	To Input SGST A/c		10,500

Dr.	Fashion Furniture House A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Nov.18	To Purchases A/c		2,12,500
				Nov.18	To Input CGST A/c		12,750
				Nov.18	To Input SGST A/c		12,750

Dr.	India Furniture House A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Nov.20	By Purchases A/c		1,80,000
				Nov.20	By Input IGST A/c		21,600

Note: Transaction on Nov. 25 will not be recorded in the Purchases Book as it is a cash transaction.
2 Input CGST, Input SGST and Input IGST according to text book are Rs.18,900, 18,900 and Rs.46,500 respectively while as per our calculation Input CGST, Input SGST and Input IGST are Rs.23,250, 2,250 and Rs.37,800 respectively

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D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

• Chapter 1 Evolution of Accounting & Basic Accounting Terms
• Chapter 2 Accounting Equations
• Chapter 3 Meaning and Objectives of Accounting
• Chapter 4 Double Entry System
• Chapter 5 Books of Original Entry – Journal 
• Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
• Chapter 7 Books of Original Entry – Cash Book (Coming soon)
• Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
• Chapter 9 Ledger (Coming soon)
• Chapter 10 Trial Balance and Errors (Coming soon)
• Chapter 11 Bank Reconciliation Statement (Coming soon)
• Chapter 12 Depreciation (Coming soon)
• Chapter 13 Bills of Exchange (Coming soon)
• Chapter 14 Generally Accepted Accounting Principles(GAAP) 
• Chapter 15 Bases of Accounting
• Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
• Chapter 17 Capital and Revenue 
• Chapter 18 Provisions and Reserves 
• Chapter 19 Final Accounts (Coming soon)
• Chapter 20 Final Accounts – With Adjustments (Coming soon)
• Chapter 21 Errors and their Rectification (Coming soon)
• Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
• Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
• Chapter 24 Computerised Accounting System (Coming soon)
• Chapter 25 Introduction to Accounting Information System (Coming soon)

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