DK Goel Solutions Chapter 10 Accounting for Goods and Service Tax (GST)

DK Goel Accountancy Class 11 Solutions Chapter 10 Accounting for Goods and Service Tax (GST) which are outlined by expert Accountancy teachers from the latest version of DK Goel Class 11 Accountancy books. We at BYJU’S provide DK Goel Solutions to assist students to comprehend all the theories in particular. There are numerous concepts in Accountancy, but the concepts of Trial Balance, Depreciation and Bank Reconciliation Statement (BRS) are required.

DK Goel Accountancy Class 11 Solutions – Chapter 10

Question 1

Prepare a book for all the parties mentioned below assuming CGST and SGST 9% each.

2018
April 5

April 7

April 15

April 20

Good sold by manufacturer Anu of Delhi to a dealer Biraj of Delhi for ₹50,000

Sold goods by Biraj to Chandan of Punjab for ₹1,20,000

Sold goods by Chandan to Deepa of Punjab for ₹1,50,000

Sold goods by Deepa to Eila of Maharashtra for ₹1,50,000 at a profit of 33 ½% on cost.

Solution

Journal For Anu
Date Particular L.F Amount Dr.

Amount Cr.

2018

April 5

Biraj Dr.

To Sales A/c

To Output CGST A/c

To Output SGST A/c

59,000 50,000

4,500

4,500

Journal For Biraj
Date Particular L.F Amount Dr.

Amount Cr.

2018

April 5

Purchase A/c Dr.

Input CGST A/c Dr.

Input SGST A/c Dr.

To Anu

(Goods purchased within the same state)

50,000

4,500

4,500

59,000
April 7 Chandan Dr.

To Sales A/c

To Output IGST A/c

(Goods sold outside the state)

1,41,000 1,20,000

21,600

Journal For Chandan
Date Particular L.F Amount Dr.

Amount Cr.

2018

April 7

Purchase A/c Dr.

Input IGST A/c

To Biraj

(Goods purchased from outside the state)

1,20,000

21,000

1,41,600
April 15 Deepa Dr.

To Sales A/c

To Output CGST A/c

To Output SGST A/c

(Goods sold within the same state)

1,77,000 1,50,000

13,500

13,500

Journal For Deepa
Date Particular L.F Amount Dr.

Amount Cr.

2018

April 15

Purchase A/c Dr.

Input CGST A/c

Input SGST A/c

To Chandra

(Goods purchased within the same state)

1,50,000

13,500

13,500

1,77,000
April 20 Eila Dr.

To Sales A/c

To Output IGST A/c

(Goods sold outside the state costing ₹1,50,000 at a profit of 33 ½% on cost)

2,36,000 2,00,000

36,000

Journal For Eile
Date Particular L.F Amount Dr.

Amount Cr.

2018

April 5

Purchase A/c Dr.

Input IGST A/c Dr.

To Deepa

(Goods purchased from outside the state)

2,00,000

36,000

2,36,000

Question 2

Pass entries in the books of Ashok Bros. assuming that all transactions have been entered within Delhi and assuming CGST @6% and SGST @ 6%.

2018
Jan 2

5

10

20

22

31

Purchased goods for ₹2,00,000

Sold goods for ₹3,00,000 on credit

Purchased computer printer for office for ₹50,000 and payment made by cheque

Paid legal consultation fee ₹10,000

Paid rent ₹20,000 by cheque

Payment made of the balance amount of GST

Solution

Journal of Ashok Bros.
Date Particular L.F Amount Dr.

Amount Cr.

2018

Jan 2

Purchase A/c

Input CGST A/c

Input SGST A/c

Dr.

Dr.

Dr.

2,00,000

12,000

12,000

      To Creditor A/c

(Purchase of goods on credit) 

2,24,000
Jan 5 Debtors A/c Dr. 3,36,000
      To Sales A/c

       To Output CGST A/c

       To Output SGST A/c

(Sales of goods on credit)

3,00,000

18,000

18,000

Jan 10 Office Equipment A/c

Input CGST A/c

Input SGST A/c

Dr.

Dr.

Dr.

50,000

3,000

3,000

      To Bank A/c

(Purchased computer printer)

56,000
Jan 20 Office Equipment A/c

Input CGST A/c

Input SGST A/c

Dr.

Dr.

Dr.

10,000

600

600

    To Cash A/c

(Paid legal consultation fee)

11,200
Jan 22 Rent A/c

Input CGST A/c

Input SGST A/c

Dr.

Dr.

Dr.

20,000

1,200

1,200

      To Bank A/c

(Paid rent)

22,400
Jan 31 Output CGST A/c (working note)

 Output SGST A/c

Dr.

Dr.

18,000

18,000

      To Input CGST A/c

      To Input SGST A/c

      To Bank A/c (₹1,200 + ₹1,200)

(Adjustment of GST and payment of balance amount)

16,800

16,800

2,400

Total ₹ 6,85,600 6,85,600

Also Check: Chapter 11 Books of Original Entry – Cash Book

The above-provided solutions are considered to be the best solution for ‘DK Goel Solutions Accountancy Class 11 Chapter 10 – “ Accounting for Goods and Service Tax (GST)”. Stay tuned for updated Class 11 accountancy solutions.

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