Question

Enter the following transactions in the Journal of Suresh, Delhi who trades in ready-made garments:

2019		₹
April 1	Suresh paid into bank as Capital*	60,000
April 2	He bought goods and paid by cheque	24,000
April 3	Sold goods to Mukand & Co., Delhi	6,700
April 4	Sold goods for cash	10,900
April 5	Paid sundry expenses in cash*	3,000
April 8	Paid for office furniture and fittings by cheque	4,000
April 9	Bought goods from Ramesh & Bros., Faridabad (Haryana)	10,600
April 11	Returned goods to Ramesh & Bros.	1,500
April 12	Issued cheque to Ramesh & Bros. in full settlement*	9,500
April 30	Bank charged interest*	200
April 30	Borrowed from Ridhi @ 10% per annum interest*	50,000
April 30	Received from Mahendra on account*	6,000
April 30	Sold household furniture and paid the amount into business*	2,000
April 30	Sold goods costing ₹ 5,000 to Anita for cash at a profit of 20% on cost, less 20% trade discount
April 30	Sold goods costing ₹ 20,000 to Sunil at a profit of 20% on sale less 20% Trade Discount and paid cartage ₹ 150 (to be charged from customer).

CGST and SGST is levied @ 6% each on intra-state sale and purchase. IGST is levied @ 12% on inter-state sale and purchase. Out of the above, transactions marked with (*) are not subject to levy of GST.

Answer 1

Books of Suresh Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2019
April 01	Bank A/c	Dr.		60,000
	To Capital A/c				60,000
	(Paid into Bank as Capital)
April 02	Purchases A/c	Dr.		24,000
	Input CGST A/c	Dr.		1,440
	Input SGST A/c	Dr.		1,440
	To Bank A/c				26,880
	(Bought goods for cheque @ 6% CGST and SGST)
April 03	Mukand & Co.	Dr.		7,504
	To Sales A/c				6,700
	To Output CGST A/c				402
	To Output SGST A/c				402
	(Sold Goods to Mukand & Co. @ 6% CGST and SGST)
April 04	Cash A/c	Dr.		12,208
	To Sales A/c				10,900
	To Output CGST A/c				654
	To Output SGST A/c				654
	(Sold goods for Cash @ 6% CGST and SGST)
April 05	Sundry Expenses A/c	Dr.		3,000
	To Cash A/c				3,000
	(Paid Sundry Expenses)
April 08	Furniture A/c	Dr.		4,000
	To Bank A/c				4,000
	(Bought Office furniture by cheque)
April 09	Purchases A/c	Dr.		10,600 1,272
	Input IGST A/c	Dr.
	To Ramesh and Bros.				11,872
	(Bought goods from Ramesh and Bros. @ 12% IGST)
April 11	Ramesh and Bros.	Dr.		1,680
	To Purchase Return A/c To Input IGST A/c				1,500 180
	(Good returned to Ramesh and Bros. and IGST @12% reversed)
April 12	Ramesh Bros. A/c	Dr.		10,192
	To Bank A/c				9,500
	To Discount Received A/c				692
	(Cheque sent to Ramesh and Bros. and discount received)
April 30	Interest A/c	Dr.		200
	To Bank A/c				200
	(Bank charged Interest)
April 30	Cash A/c	Dr.		50,000
	To Loan from Ridhi A/c				50,000
	(Borrowed from Ridhi @10% per annum)
April 30	Cash A/c	Dr.		6,000
	To Mahendra				6,000
	(Received from Mahendra on account)
April 30	Cash A/c	Dr.		2,000
	To Capital A/c				2,000
	(Sold household furniture and paid the amount into business)
April 30	Cash A/c	Dr.		5,376
	To Sales A/c				4,800
	To Output CGST A/c				288
	To Output SGST A/c				288
	(Sold goods for Cash @ 6% CGST and SGST)
April 30	Sunil	Dr.		22,550
	To Sales A/c				20,000
	To Output CGST A/c				1,200
	To Output SGST A/c				1,200
	To Cartage A/c				150
	(Sold goods to Anil @ 6% CGST and SGST and cartage charges levied; profit on sales is 20% i.e. profit on cost is 25%)