Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakesh):

2018
Jan 1
Jan 2
Jan 5
Jan 7
Jan 10
Jan 15
Jan 20
Jan 25
Jan 27
Jan 28
Jan 31
Jan 31
Rakesh commenced business with cash
Purchased goods for cash
Purchased goods from Mohan, Delhi on credit
Opened bank account with Bank of India
Purchased furniture for office
Sold goods for cash
Sold goods to Ram, Delhi on credit
Cash sales
Paid to Mohan on account
Ram returns goods
Paid Salaries
Rejected and returned 10% of goods supplied by Mohan ₹
50,000
10,000
6,000
10,000
2,000
8,000
5,000
3,500
3,000
500
9,000

CGST and SGST is levied @ 6% each on intra-state sale and purchase. IGST is levied @12% on inter-state sale and purchase.

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Solution

Journal

Date

Particulars

L.F.

Debit

Amount

(₹)

Credit

Amount

(₹)

2018

Jan 01
Cash A/c
Dr.

50,000

To Capital A/c

50,000

(Started business with cash)

Jan 02
Purchases A/c
Dr.

10,000

Input CGST A/c
Dr.

600

Input SGST A/c
Dr.

600

To Cash A/c

11,200

(Goods purchased)

Jan 05
Purchases A/c
Dr.

6,000

Input CGST A/c
Dr.

360

Input SGST A/c
Dr.

360

To Mohan A/c

6,720

(Goods purchased)

Jan 07
Bank A/c
Dr.

10,000

To Cash A/c

10,000

(Opened Bank A/c)

Jan 10
Furniture A/c
Dr.

2,000

Input CGST A/c
Dr.

120

Input SGST A/c
Dr.

120

To Cash A/c

2,240

(Furniture purchased)

Jan 15
Cash A/c
Dr.

8,960

To Sales A/c

8,000

To Output CGST A/c

480

To Output SGST A/c

480

(Goods sold)

Jan 20
Ram A/c
Dr.

5,600

To Sales A/c

5,000

To Output CGST A/c

300

To Output SGST A/c

300

(Goods sold)

Jan 25
Cash A/c
Dr.

2,800

To Sales A/c

2,500

To Output CGST A/c

150

To Output SGST A/c

150

(Goods sold)

Jan 27
Mohan’s A/c
Dr.

3,000

To Cash A/c

3,000

(Paid to Mohan on account)

Jan 28
Sales Return A/c
Dr.

500

Output CGST A/c
Dr.

30

Output SGST A/c
Dr.

30

To Ram’s A/c

560

(Goods returned by Ram)

Jan 31
Salary A/c
Dr.

9,000

To Cash

9,000

(Paid salaries)

Jan 31
Mohan’s A/c
Dr.

672

To Purchases Return A/c

600

To Input CGST A/c

36

To Input SGST A/c

36

(Returned 10% of the goods supplied by Mohan)

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Similar questions

Q. Record the following transactions in the Journal of Ashoka Furniture Traders, Ludhiana (Punjab):

2018		₹
Jan. 1	Started business with cash	50,000
Jan. 2	Opened a Current Account by personal cheque	3,50,000
Jan. 10	Purchased machinery against cheque	1,00,000
Jan. 15	Paid wages for installation of machinery	2,000
Jan. 20	Purchased timber from Singh & Co., Ludhiana (Punjab) of the list price of ₹ 20,000, allowed 10% trade discount
Jan. 25	Out of the above, timber used for furnishing the office	5,000
Jan. 31	Sold timber to Rakesh of the list price of ₹ 10,000 and allowed him 10% trade discount
Feb.10	Issued to Singh &Co. a cheque in full settlement	21,000
Feb. 15	Received from Rakesh in full and final settlement	10,220
Feb. 20	Paid Wages	15,000
Feb. 28	Issued a cheque for ₹ 5,000 in favour of the landlord for rent of February

CGST and SGST is levied @ 6% each on intra-state sale and purchase. IGST is levied @ 12% on inter-state sale and purchase.

Q. Enter the following transactions in the Journal of Suresh who trades in ready-made garments:

2018		₹
April 1	Suresh paid into bank	60,000
April 2	He bought goods cheque	24,000
April 3	Sold to Mukand & Co.	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 10	Sold to Mahendra of Delhi	18,700
April 11	Returned goods to Ramesh & Bros.	1,500
April 12	Issued cheque to Ramesh & Bros. in full settlement	9,000
April 14	Sold goods for cash	4,900
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.	6,500
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.

Q. Record the following transactions in the Journal of Ashoka Furniture Traders, Ludhiana (Punjab):

2019		₹
Jan. 1	Started business with cash	50,000
Jan. 2	Opened a Current Account by personal cheque	3,50,000
Jan. 10	Purchased machinery against cheque	1,00,000
Jan. 15	Paid wages for installation of machinery	2,000
Jan. 20	Purchased timber from Singh & Co., Ludhiana (Punjab) of the list price of ₹ 20,000 at 10% trade discount
Jan. 25	Out of the above, timber used for furnishing the office	5,000
Jan. 31	Sold timber to Rakesh of the list price of ₹ 10,000 and allowed him 10% trade discount
Feb. 10	Issued to Singh & Co. a cheque in full settlement	20,000
Feb. 15	Received from Rakesh in full and final settlement	10,000
Feb. 20	Paid Wages	15,000
Feb. 28	Issued a cheque for ₹ 5,000 in favour of the landlord for rent of February

CGST and SGST is levied @ 6% each on intra-state sale and purchase. IGST is levied @ 12% on inter-state sale and purchase.

Q. 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.

With Goods and Services Tax (GST)
Journalise the following transactions of Singh Enterprises, Delhi:

2017
June 1
June 2
June 3
June 4
June 11
June 13
June 17
June 20
June 27
June 30

Started business with cash
Deposited cheque from Savings Account in firm's account
Received cash from Ram
Purchased goods for cash
Sold goods to M/s. Hari Sales, Delhi
Paid to Ramavtar
Received from M/s. Hari Sales
Bought furniture from S.R. Furnishers against Cash (including CGST and SGST)
Paid rent
Paid salary

₹

50,000
2,00,000
50,000
15,000
12,000
40,000
10,000
22,400
28,000
50,000

CGST and SGST @ 6% each is levied on Intra-state sale and purchase.

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Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2018
Jan 01	Cash A/c	Dr.		50,000
	To Capital A/c				50,000
	(Started business with cash)

Jan 02	Purchases A/c	Dr.		10,000
	Input CGST A/c	Dr.		600
	Input SGST A/c	Dr.		600
	To Cash A/c				11,200
	(Goods purchased)

Jan 05	Purchases A/c	Dr.		6,000
	Input CGST A/c	Dr.		360
	Input SGST A/c	Dr.		360
	To Mohan A/c				6,720
	(Goods purchased)

Jan 07	Bank A/c	Dr.		10,000
	To Cash A/c				10,000
	(Opened Bank A/c)

Jan 10	Furniture A/c	Dr.		2,000
	Input CGST A/c	Dr.		120
	Input SGST A/c	Dr.		120
	To Cash A/c				2,240
	(Furniture purchased)

Jan 15	Cash A/c	Dr.		8,960
	To Sales A/c				8,000
	To Output CGST A/c				480
	To Output SGST A/c				480
	(Goods sold)

Jan 20	Ram A/c	Dr.		5,600
	To Sales A/c				5,000
	To Output CGST A/c				300
	To Output SGST A/c				300
	(Goods sold)

Jan 25	Cash A/c	Dr.		2,800
	To Sales A/c				2,500
	To Output CGST A/c				150
	To Output SGST A/c				150
	(Goods sold)

Jan 27	Mohan’s A/c	Dr.		3,000
	To Cash A/c				3,000
	(Paid to Mohan on account)

Jan 28	Sales Return A/c	Dr.		500
	Output CGST A/c	Dr.		30
	Output SGST A/c	Dr.		30
	To Ram’s A/c				560
	(Goods returned by Ram)

Jan 31	Salary A/c	Dr.		9,000
	To Cash				9,000
	(Paid salaries)

Jan 31	Mohan’s A/c	Dr.		672
	To Purchases Return A/c				600
	To Input CGST A/c				36
	To Input SGST A/c				36
	(Returned 10% of the goods supplied by Mohan)