Question No 12 Chapter No 9 – D.K Goal 11 Class

Question No 12 Chapter No 9

12. Enter the following transactions in Return Inward Book of M/s Kanitkar & Co. of Mumbai Maharashtra assuming CGST @ 2.5% and SGST @ 2.5% and post it into Ledger:

2018
Jan.5	Goods returned to us by Giriraj & Co., Pune Maharashtra worth 40,000, less 10% trade discount
Jan.10	Shah Brothers, Jaipur Rajasthan returned goods, being not according to sample 30,000.
Jan.16	Allowance claimed by Jai Singh & Co., Mathura U.P on account of a mistake in the invoice 10,000
Jan.20	Good returned by Gopal sons, Mumbai being defective 20,000.

The solution of Question No 12 Chapter No 9: –

Return Outwards Book
Date	Particular	Detail	Cost	Output CGST	Output SGST	Output ISGT	Total
2018 Jan.
5	Giriraj & Co., Pune Maharashtra	40,000
	Less: 10% Trade Discount	4,000
		36,000
	Add: 2.5% CGST	900
	Add: 2.5% SGST	900
		37,800	36,000	900	900		37,800
10	Shah Brothers, Jaipur Rajasthan	30,000
	Add: 5% IGST	1,500
		31,500	30,000			1,500	31,500
16	Jai Singh & Co., Mathura U.P.	10,000
	Add: 5% IGST	500
		10,500	10,000			500	10,500
28	Delhi Furniture Shop, Ahmedabad Gujarat	20,000
	Add: 2.5% CGST	500
	Add: 2.5% CGST	500
		21,000	20,000	500	500		21,000
			96,000	1,400	1,400	2,000	1,00,800

Dr.	Sales Return A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
Jan.31	By Sundries as per Sale Return Book		96,000

Dr.	Shah Brothers A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan.10	To Sale Return A/c		30,000
				Jan.10	To Output IGST A/c		1,500

Dr.	Gopal sons A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan.28	To Sale Return A/c		20,000
				Jan.28	To Output CGST A/c		500
				Jan.28	To Output SGST A/c		500

Dr.	Giriraj & Co A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan.05	To Sale Return A/c		36,000
				Jan.05	To Output CGST A/c		900
				Jan.05	To Output CGST A/c		900

Dr.	Jai Singh & Co A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2018				2018
				Jan.16	To Sale Return A/c		10,000
				Jan.16	To Output IGST A/c		500

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Also, Check out the solved question of all Chapters: –

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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