Question

Journalise the following transactions in the books of Varun

2018 Oct.

1 Purchased Machinery of ₹ 95,000 and paid ₹ 5,000 for freight.

3 Purchased goods for ₹ 1,50,000 and amount paid by Bank.

6 Purchased Laptop from Nagesh & Co. worth ₹ 1,80,000 @ 18% GST.

10 Paid into Bank of Baroda ₹ 70,000.

12 Paid for Rent ₹ 4,000 and Commission ₹ 3,000.

15 Bought goods from Tushar Company Ltd. ₹ 1,20,000 at 12% GST and paid 1/2 amount by RTGS.

16 Cash purchases ₹ 50,000 amount paid by cheque.

20 Invoiced goods to Satish ₹ 80,000 at 12% GST and the amount received by cheque.

25 Paid for Telephone charges ₹ 90,000

27 Mrs. Varsha bought goods from us ₹ 90,000 at a 12% Trade Discount.

28 Purchased goods from Abhijeet & Sons ₹ 1,50,000 at 18% GST.

30 Paid to Abhijeet & Sons and received 10% Cash Discount by cheque.

31 Paid for Advertisement ₹ 8,000 and Brokerage ₹ 12,000.

Answer 1

Journal of Varun
Date	Particulars	L.F. No.	Debit Amount (₹)	Credit Amount (₹)
2018 Oct. 1	Machinery A/c    ...Dr.		1,00,000
	To Cash A/c			1,00,000
	(Being the machinery purchased on cash and freight paid)
3	Purchases A/c   ..Dr.		1,50,000
	To Bank A/c			1,50,000
	(Being goods purchased and amount paid by cheque)
6	Laptop (Computer) A/c    ...Dr.		1,80,000
	Input CGST A/c    ...Dr.		16,200
	Input SGST A/c   ...Dr.		16,200
	To Nagesh and Co's A/c			2,12,400
	(Being the laptop purchased with GST on credit from Nagesh and Co.)
10	Bank of Baroda A/c    ...Dr.		70,000
	To Cash A/c			70,000
	(Being cash deposited into the Bank)
12	Rent A/c    ...Dr.		4,000
	Commission A/c    ...Dr.		3,000
	To Cash A/c			7,000
	(Being rent and commission paid in cash)
15	Purchases A/c     ...Dr.		1,20,000
	Input CGST A/c  ...Dr.		7,200
	Input SGST A/c    ..Dr.		7,200
	To Bank A/c			67,200
	To Tushar company Ltd's A/c			67,200
	(Being goods purchased with 12% GST and half of the amount paid by RTGS)
16	Purchases A/C    ...Dr.		50,000
	To Bank A/c			50,000
	(Being goods purchased and amount paid by cheque)
20	Bank A/c    ...Dr.		89,600
	To Sales A/c			80,000
	To Output CGST A/c			4,800
	To Output SGST A/c			4,800
	(Being goods sold with 12% GST and amount received by cheque)
25	Telephone Charges A/c   ...Dr.		90,000
	To Cash A/c			90,000
	(Being telephone charges paid in cash)
27	Mrs. Varsha's A/c   ....Dr.		79,200
	To Sales A/c			79,200
	(Being goods sold on credit at 12% Trade discount)
28	Purchases A/c   ...Dr.		1,50,000
	Input CGST A/c   ...Dr.		13,500
	Input SGST A/c    ...Dr.		13,500
	To Abhijeet and Sons A/c			1,77,000
	(Being goods purchased with 18% GST on credit)
30	Abhijeet & Sons A/c     ...Dr.		1,77,000
	To Bank A/c			1,59,300
	To Discount A/c			17,700
	(Being amount due to Abhijit and sons paid by cheque and earn 10% cash discount)
31	Advertisement A/c   ...Dr.		8,000
	Brokerage A/c    ...Dr.		12,000
	To Cash A/c			20,000
	(Being advertisement and brokerage paid in cash)
	Total		13,56,600	13,56,600

Working note:

1. Oct. 6 - Purchased Laptop from Nagesh & Co. worth Rs. 1,80,000 @18% GST Calculation.

GST 18% - `1","80","000 × 18/100 = 32","400`

CGST 9% - `1","80","000 × 9/100 = 16","200`

SGST 9% - `1","80","000 × 9/100 = 16","200`

2. Oct. 15 - Bought goods from Tushar Company Ltd. Rs. 1,20,000 at 12% GST and paid 1/2 amount by RTGS Calculation.

GST 12% - `1","20","000 × 12/100 = 14","400` 

CGST 6% - `1","20","000 × 6/100 = 7","200`

SGST 6% - `1","20","000 × 6/100 = 7","200`

The bank is paying half of the amount - `1","34","400/2 = 67","200`

3. Oct. 20 - Invoiced goods to satish Rs. 80,000 at 12% GST and amount received by cheque Calculation.

GST 12% - `80","000 × 12/100 = 9","600`

CGST 6% - `80","000 × 6/100 = 4","800`

SGST 6%- `80","000 × 6/100 = 4","800`

4. Oct. 27 - Mrs. Varsha bought goods from us Rs. 90,000 at 12% Trade Discount Calculation.

12% Trade Discount - `90","000 × 12/100 = 10","800`

5. Oct. 28 - Purchased goods from Abhijeet and Sons Rs. 1,50,000 at 18% GST Calculation.

GST 18% - `1","50","000 × 18/100 = 27","000`

CGST 9% - `1","50","000 × 9/100 = 13","500`

SGST 9% - `1","50","000 × 9/100 = 13","500`

6. Oct. 30 - Paid to Abhijeet and Sons and received 10% Cash Discount by cheque Calculation.

10% Cash Discount - `1","77","000 × 10/100 = 17","700`