Question

Journalise the following transactions in the Journal of M/s. Gupta Brothers (Prop. Shri R. K. Gupta), Delhi and post them to the Ledger:

2018		₹
March 1	Started business with cash*	2,00,000
March 2	Opened bank account with SBI*	80,000
March 4	Goods purchased from Raj, Jaipur (Rajasthan)	22,000
March 5	Goods purchased for cash	30,000
March 8	Goods sold to Naman, Delhi	12,000
March 10	Cash paid to Raj*	22,000
March 15	Cash received from Naman*	11,700
	Discount allowed*	300
March 16	Paid wages*	200
March 18	Furniture purchased for office use	5,000
March 20	Withdrawn from bank for personal use*	4,000
March 22	Issued cheque for rent	3,000
March 23	Goods taken for household purpose. These goods were purchased from Raj	2,000
March 24	Drawn cash from bank for office use*	6,000
March 26	Commission received	1,000
March 27	Bank charges	300
March 28	Cheque issued for insurance premium of Proprietor*	3,000
March 29	Paid salary*	10,000
March 30	Cash sales	20,000

Inter-state transactions are subject to levy of IGST @ 12% and Intra-state transactions are subject to levy of CGST and SGST @ 6% each. GST is not levied on transactions marked with (*).

Answer 1

Books of M/s Gupta Brothers
Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
2018
Mar.01	Cash A/c	Dr.		2,00,000
	To Capital A/c				2,00,000
	(Started business with Cash)
Mar.02	Bank A/c	Dr.		80,000
	To Cash A/c				80,000
	(Opened Bank account with SBI)
Mar.04	Purchases A/c Input IGST A/c	Dr. Dr.		22,000 2,640
	To Raj				24,640
	(Purchased goods on credit @ 12% IGST)
Mar.05	Purchases A/c Input CGST A/c Input SGST A/c	Dr. Dr. Dr.		30,000 1,800 1,800
	To Cash A/c				33,600
	(Purchased goods in cash @ 6% CGST and SGST)
Mar.08	Naman A/c	Dr.		13,440
	To Sales A/c To Output CGST A/c To Output SGST A/c				12,000 720 720
	(Sold good to on credit @ 6% CGST and SGST)
Mar.10	Raj	Dr.		22,000
	To Cash A/c				22,000
	(Cash Paid to Raj)
Mar.15	Cash A/c	Dr.		11,700
	Discount Allowed A/c	Dr.		300
	To Naman				12,000
	(Cash received from Naman and discount allowed)
Mar.16	Wages A/c	Dr.		200
	To Cash				200
	(Paid Wages)
Mar.18	Furniture A/c Input CGST A/c Input SGST A/c	Dr. Dr. Dr.		5,000 300 300
	To Cash				5,600
	(Purchased furniture in cash @ 6% CGST and SGST)
Mar.20	Drawings A/c	Dr.		4,000
	To Bank A/c				4,000
	(Withdrawn from bank for personal use)
Mar.22	Rent A/c Input CGST A/c Input SGST A/c	Dr. Dr. Dr.		3,000 180 180
	To Bank A/c				3,360
	(Paid Rent through cheque with 6% CGST and SGST)
Mar.23	Drawings A/c	Dr.		2,240
	To Purchases A/c To Input IGST A/c				2,000 240
	(Goods taken for personal use and IGST reversed)
Mar.24	Cash A/c	Dr.		6,000
	To Bank				6,000
	(Cash withdrawn from bank)
Mar.26	Cash A/c	Dr.		1,120
	To Commission A/c To Output CGST A/c To Output SGST A/c				1,000 60 60
	(Cash received for commission plus CGST and SGST @ 6% each)
Mar.27	Bank Charges A/c Input CGST A/c Input SGST A/c	Dr. Dr. Dr.		300 18 18
	To Bank A/c				336
	(Bank Charges debited plus CGST and SGST @ 6% each)
Mar.28	Drawings A/c	Dr.		3,000
	To Bank				3,000
	(Amount withdrawn to pay Insurance Premium of proprietor)
Mar.29	Salary A/c	Dr.		10,000
	To Cash A/c				10,000
	(Paid Salary)
Mar.30	Cash A/c	Dr.		20,000
	To Sales A/c To Output CGST A/c To Output SGST A/c				20,000 1,200 1,200
	(Sold goods for Cash plus CGST and SGST @6% each)

Ledger
Cash Account
Dr.									Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
2018					2018
Mar.01		Capital		2,00,000	Mar.02	Bank		80,000
Mar.15 Mar.24 Mar.26		Naman Bank Commission		11,700 6,000 1,000	Mar.05 Mar.05 Mar.05	Purchases Input CGST Input SGST		30,000 1,800 1,800
Mar.26 Mar.26		Output CGST Output SGST		60 60	Mar.10 Mar.16	Raj Wages		22,000 200
Mar.30 Mar.30		Sales Output CGST		20,000 1,200	Mar.18 Mar.18	Furniture Input CGST		5,000 300
Mar.30		Output SGST		1,200	Mar.18 Mar.29 Mar.31	Input SGST Salary Balance c/d		300 10,000 89,820
				2,41,220				2,41,220

Bank Account
Dr.									Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
2018					2018
Mar.02		Cash		80,000	Mar.20	Drawings		4,000
					Mar.22 Mar.22 Mar.22	Rent Input CGST Input SGST		3,000 180 180
					Mar.24	Cash		6,000
					Mar.27 Mar.27 Mar.27	Bank Charges Input CGST Input SGST		300 18 18
					Mar.28	Drawings		3,000
					Mar.31	Balance C/d		63,304
				80,000				80,000

Capital Account
Dr.									Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
2018					2018
Mar.31		Balance c/d		2,00,000	Mar.01	Cash		2,00,000
				2,00,000				2,00,000

Purchases Account
Dr.									Cr.
Date		Particulars	L.F.	Amount (Rs)	Date	Particulars	L.F.	Amount (Rs)
2018					2018
Mar.04		Raj		22,000	Mar.23	Drawings		2,000
Mar.05		Cash		30,000	Mar.31	Balance c/d		50,000
				52,000				52,000

Raj Account
Dr.									Cr.
Date		Particulars	L.F.	Amount (Rs)	Date	Particulars	L.F.	Amount (Rs)
2018					2018
Mar.10 Mar.31		Cash Balance c/d		22,000 2,640	Mar.04 Mar.04	Purchase Input IGST		22,000 2,640
				24,640				24,640

Sales Account
Dr.									Cr.
Date		Particulars	L.F.	Amount (Rs)	Date	Particulars	L.F.	Amount (Rs)
2018					2018
					Mar.08	Naman		12,000
Mar.31		Balance c/d		32,000	Mar.30	Cash		20,000
				32,000				32,000

Naman
Dr.									Cr.
Date		Particulars	L.F.	Amount (Rs)	Date	Particulars	L.F.	Amount (Rs)
2018					2018
Mar.08 Mar.08 Mar.08		Sales Output CGST Output SGST		12,000 720 720	Mar.15 Mar.15	Cash Discount Allowed		11,700 300
					Mar.31	Balance c/d		1,440
				13,440				13,440

Discount Allowed Account
Dr.									Cr.
Date		Particulars	L.F.	Amount (Rs)	Date	Particulars	L.F.	Amount (Rs)
2018					2018
Mar.15		Naman		300	Mar.31	Balance c/d		300
				300				300

Wages Account
Dr.									Cr.
Date		Particulars	L.F.	Amount (Rs)	Date	Particulars	L.F.	Amount (Rs)
2018					2018
Mar.16		Cash		200	Mar.31	Balance c/d		200
				200				200

Furniture Account
Dr.									Cr.
Date		Particulars	L.F.	Amount (Rs)	Date	Particulars	L.F.	Amount (Rs)
2018					2018
Mar.18		Cash		5,000	Mar.31	Balance c/d		5,000
				5,000				5,000

Drawings Account
Dr.									Cr.
Date		Particulars	L.F.	Amount (Rs)	Date	Particulars	L.F.	Amount (Rs)
2018					2018
Mar.20		Bank		4,000
Mar.23 Mar.23 Mar.28		Purchases A/c Input IGST Bank		2,000 240 3,000	Mar.31	Balance c/d		9,240
				9,240				9,240

Commission Account
Dr.									Cr.
Date		Particulars	L.F.	Amount (Rs)	Date	Particulars	L.F.	Amount (Rs)
2018					2018
Mar.31		Balance c/d		1,000	Mar.26	Cash		1,000
				1,000				1,000

Bank Charges Account
Dr.									Cr.
Date		Particulars	L.F.	Amount (Rs)	Date	Particulars	L.F.	Amount (Rs)
2018					2018
Mar.22		Bank A/c		300	Mar.31	Balance c/d		300
				300				300

Rent Account
Dr.									Cr.
Date		Particulars	L.F.	Amount (Rs)	Date	Particulars	L.F.	Amount (Rs)
2018					2018
Mar.22		Bank		3,000	Mar.22	Balance c/d		3,000
				3,000				3,000

Salary Account
Dr.									Cr.
Date		Particulars	L.F.	Amount (Rs)	Date	Particulars	L.F.	Amount (Rs)
2018					2018
Mar.29		Cash		10,000	Mar.31	Balance c/d		10,000
				10,000				10,000

Input IGST Account
Dr.									Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
2018					2018
Mar.04		Raj		2,640	Mar.23	Drawings		240
					Mar.31	Balance c/d		2,400
				2,640				2,640

Input CGST Account
Dr.									Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
2018					2018
Mar.05 Mar.18 Mar.22 Mar.27		Cash Cash Bank Bank		1,800 300 180 18	Mar.31	Balance c/d		2,298
				2,298				2,298

Output CGST Account
Dr.									Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
2018					2018
Mar.31		Balance c/d		1,980	Mar.08	Naman		720
					Mar.26	Cash		60
					Mar.30	Cash		1,200
				1,980				1,980

Input SGST Account
Dr.									Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
2018					2018
Mar.05		Cash		1,800	Mar.31	Balance c/d		2,298
Mar.18 Mar.22 Mar.27		Cash Bank Bank		300 180 18
				2,298				2,298

Output SGST Account
Dr.									Cr.
Date		Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
2018					2018
Mar.31		Balance c/d		1,980	Mar.08 Mar.26	Naman Cash		720 60
					Mar.30	Cash		1,200
				1,980				1,980