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Question
Record journal entries for the following transactions in the books of Anudeep of Delhi:
(a) Bought goods ₹ 2,00,000 from Kanta of Delhi (CGST @ 9%, SGST @ 9%)
(b) Bought goods ₹ 1,00,000 for cash from Rajasthan (IGST @ 12%)
(c) Sold goods ₹ 1,50,000 to Sudhir of Punjab (IGST @ 18%)
(d) Paid for Railway Transport Rs. 10,000 (CGST @ 5%, SGST @ 5%)
(e) Sold goods ₹ 1,20,000 to Sidhu of Delhi (CGST @ 9%, SGST @ 9%)
(f) Bought Air-Condition for office use ₹ 60,000 (CGST @ 9%, SGST @ 9%)
(g) Sold goods ₹ 1,50,000 for cash to Sunil to Uttar Pradesh (IGST 18%)
(h) Bought Motor Cycle for business use ₹ 50,000 (CGST 14%, SGST @ 14%)
(i) Paid for Broadband services ₹ 4,000 (CGST @ 9%, SGST @ 0%)
(j) Bought goods ₹ 50,000 from Rajesh, Delhi (CGST @ 9%, SGST @ 9%)
Solution
| Date | Particulars | L.F. | Dr. Rs. | Cr. Rs. |
| (a) | Purchases A/c Dr. | 2,00,000 | ||
| Input CGST A/c Dr. | 18,000 | |||
| Input SGST A/c | 18,000 | |||
| To Kanta | 2,36,000 | |||
| (Being goods purchased on credit locally) | ||||
| (b) | Purchases A/c Dr. | 1,00,000 | ||
| Input IGST A/c Dr. | 12,000 | |||
| To Cash A/c | 1,12,000 | |||
| (Being goods purchased in cash from Rajasthan) | ||||
| (c) | Sudhir A/c Dr. | 1,77,000 | ||
| To Sales A/c | 1,50,000 | |||
| To Output IGST A/c | 27,000 | |||
| (Being goods supplied on credit to Punjab) | ||||
| (d) | Transport Charges A/c Dr. | 10,000 | ||
| Input CGST A/c Dr. | 500 | |||
| Input SGST A/c | 500 | |||
| To Bank A/c | 11,000 | |||
| (e) | Sidhu A/c Dr. | 1,41,600 | ||
| To Sales A/c | 1,20,000 | |||
| To Output CGST A/c | 10,800 | |||
| To Output SGST A/c | 10,800 | |||
| (Being goods sold on credit locally) | ||||
| (f) | Air Conditioner A/c Dr. | 60,000 | ||
| Input CGST A/c Dr. | 5,400 | |||
| Input SGST A/c Dr. | 5,400 | |||
| To Bank A/c | 70,800 | |||
| (Being goods purchased locally) | ||||
| (g) | Cash A/c Dr. | 1,77,000 | ||
| To Sales A/c | 1,50,000 | |||
| To Output IGST A/c | 27,000 | |||
| (Being goods supplied on credit to Uttar Pradesh) | ||||
| (h) | Motor Cycle A/c Dr. | 50,000 | ||
| Input CGST A/c Dr. | 7,000 | |||
| Input SGST A/c Dr. | 7,000 | |||
| To Bank A/c | 64,000 | |||
| (Being motorcycle purchased locally for office use) | ||||
| (i) | Internet Charges A/c Dr. | 4,000 | ||
| Input CGST A/c Dr. | 360 | |||
| Input SGST A/c Dr. | 360 | |||
| To Bank A/c | 4,720 | |||
| (Being broadband charges paid) | ||||
| (j) | Purchases A/c Dr. | 50,000 | ||
| Input CGST A/c Dr. | 4,500 | |||
| Input SGST A/c Dr. | 4,500 | |||
| To Rajesh | 59,000 | |||
| (Being goods purchased on credit locally) | ||||
| (k) | Purchases A/c Dr. | 50,000 | ||
| Input CGST A/c Dr. | 4,500 | |||
| Input SGST A/c Dr. | 4,500 | |||
| To Rajesh | 59,000 | |||
| (Being goods purchased on credit locally) | ||||
| (l) | Output IGST A/c Dr. | 54,000 | ||
| Output CGST A/c Dr. | 12,000 | |||
| Output SGST A/c Dr. | 12,000 | |||
| To Input IGST A/c | 12,000 | |||
| To Input CGST A/c | 33,000 | |||
| To Input SGST A/c | 33,000 | |||
| (Being GST set off and excess of CGST and SGST to be claimed as a refund) |
||||
Working Note 1
| Particulars | IGST | CGST | SGST |
| Output | 54,000 | 12,000 | 12,000 |
| Input | 12,000 | 35,760 | 35,760 |
| Excess | 42,000 | -23,760 | -23,760 |
| Set off | -42,000 | 21,000 | 21,000 |
| Payable | Nil | -2,760( Refund) | -2,760 (Refund) |
APPEARS IN
RELATED QUESTIONS
Journalise the following transaction in the Book of M/s Beauti traders. Also post them in the ledger.
| Dec. 2017 |
₹ | |
| 1. | Started business with cash | 2,00,000 |
| 2. | Bought office furniture | 30,000 |
| 3. | Paid into bank to open an current account | 1,00,000 |
| 5. | Purchased a computer and paid by cheque | 2,50,000 |
| 6. | Bought goods on credit from Ritika | 60,000 |
| 8. | Cash sales | 30,000 |
| 9. | Sold goods to Karishna on credit | 25,000 |
| 12. | Cash paid to Mansi on account | 30,000 |
| 14. | Goods returned to Ritika | 2,000 |
| 15 | Stationery purchased for cash | 3,000 |
| 16. | Paid wages | 1,000 |
| 18. | Goods returned by Karishna | 2,000 |
| 20. | Cheque given to Ritika | 28,000 |
| 22. | Cash received from Karishna on account | 15,000 |
| 24. | Insurance premium paid by cheque | 4,000 |
| 26. | Cheque received from Karishna | 8,000 |
| 28. | Rent paid by cheque | 3,000 |
| 29. | Purchased goods on credit from Meena Traders | 20,000 |
| 30. | Cash sales | 14,000 |
Give journal entries of M/s Mohit traders, Post them to the Ledger from the following transactions:
| August 2017 |
₹ | |
| 1. | Commenced business with cash | 1,10,000 |
| 2. | Opened bank account with H.D.F.C. | 50,000 |
| 3. | Purchased furniture | 20,000 |
| 7. | Bought goods for cash from M/s Rupa Traders | 30,000 |
| 8. | Purchased good from M/s Hema Traders | 42,000 |
| 10. | Sold goods for cash | 30,000 |
| 14. | Sold goods on credit to M/s. 2020 Gupta Traders | 12,000 |
| 16. | Rent paid | 4,000 |
| 18. | Paid trade expenses | 1,000 |
| 20. | Received cash from Gupta Traders | 12,000 |
| 22. | Goods return to Hema Traders | 2,000 |
| 23. | Cash paid to Hema Traders | 40,000 |
| 25. | Bought postage stamps | 100 |
| 30. | Paid salary to Rishabh | 4,000 |
Journalise the following transaction in the books of Sanjana and post them into the ledger:
| January 2017 | ₹ | |
| 1. | Cash in hand | 6,000 |
| Cash at bank | 55,000 | |
| Stock of goods | 40,000 | |
| Due to Rohan | 6,000 | |
| Due from Tarun | 10,000 | |
| 3. | Sold goods to Karuna | 15,000 |
| 4. | Cash sales | 10,000 |
| 6. | Goods sold to Heena | 5,000 |
| 8. | Purchased goods from Rupali | 30,000 |
| 10. | Goods returned from Karuna | 2,000 |
| 14. | Cash received from Karuna | 13,000 |
| 15. | Cheque given to Rohan | 6,000 |
| 16. | Cash received from Heena | 3,000 |
| 20. | Cheque received from Tarun | 10,000 |
| 22. | Cheque received from to Heena | 2,000 |
| 25. | Cash given to Rupali | 18,000 |
| 26. | Paid cartage | 1,000 |
| 27. | Paid salary | 8,000 |
| 28. | Cash sale | 7,000 |
| 29. | Cheque given to Rupali | 12,000 |
| 30. | Sanjana took goods for Personal use | 4,000 |
| 31. | Paid General expense | 500 |
