CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Byju's Answer
Standard VIII
Mathematics
Sales Tax and Value Added Tax
On 1st April,...
Question

On 1st April, 2019, the following were Ledger balances of M/s. Ram & Co., Delhi:
Cash in Hand ₹ 300; Cash at Bank ₹ 7,000; Bills Payable ₹ 1,000; Zahir (Dr.) ₹ 800; Stock ₹ 4,000; Gobind (Cr.) ₹ 2,000; Sharma (Dr.) ₹ 1,500; Rahul (Cr.) ₹ 900; Capital ₹ 9,700.

Transactions during the month of April, 2019 were:
2019 ₹
April 2 Bought goods from Gobind, Delhi 900
April 3 Sold goods to Sharma, Kanpur 1,000
April 5 Bought goods from Rahul, Delhi 1,200
April 8 Sold goods to Zahir, Kolkata 500
April 15 Paid Gobind by cheque on account* 1,500
April 18 Received from Sharma a cheque of 2,000
Allowed him discount* 50
April 20 Sold goods to Sharma, Kanpur 800
April 20 Paid rent by cheque 200
April 25 Sold goods to Zahir, Kolkata 1,000
April 30 Paid salaries in cash* 300
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 (*).
Post the above transactions to the Ledger and prepare the Trial Balance on 30th April, 2019.
[Trial Balance Total- ₹ 18,148]

Open in App
Solution

Cash in Hand Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 01 Balance b/d
300
 Apr 30 Salaries
300
300
300
Cash at Bank Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 01 Balance b/d
7,000
 Apr 15 Gobind A/c
1,500
Apr 18 Sharma A/c
2,000
 Apr 20 Rent A/c
200
Apr 20 Input CGST A/c
12
Apr 20 Input SGST A/c
12
Apr 30 Balance c/d
7,276
9,000
9,000
Bills Payable Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 30 Balance c/d
1,000
 Apr 01 Balance b/d
1,000
1,000
1,000
Zahir Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 01 Balance b/d
800
 Apr 30 Balance c/d
2,480
Apr 08 Sales A/c
500
Apr 08 Output IGST A/c
60
Apr 25 Sales A/c
1,000
Apr 25 Output IGST A/c
120
2,480
2,480
Stock Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 01 Balance b/d
4,000
 Apr 30 Balance c/d
4,000
4,000
4,000
Gobind Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 15 Bank A/c
1,500
 Apr 01 Balance b/d
2,000
Apr 30 Balance c/d
1,508
 Apr 02 Purchases A/c
900
Apr 02 Input CGST A/c
54
Apr 02 Input CGST A/c
54
3,008
3,008
Sharma Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 01 Balance b/d
1,500
 Apr 18 Bank A/c
2,000
Apr 03 Sales A/c
1,000
 Apr 18 Discount Allowed A/c
50
Apr 03 Output IGST A/c
120
 Apr 30 Balance c/d
1,466
Apr 20 Sales A/c
800
Apr 20 Output IGST A/c
96
3,516
3,516
Rahul Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Balance c/d
2,244
 Apr 01 Balance b/d
900
Apr 05 Purchases A/c
1,200
Apr 05 Input CGST A/c
72
Apr 05 Input CGST A/c
72
2,244
2,244
Capital Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 01 Balance b/d
9,700
 Apr 30 Balance c/d
9,700
9,700
9,700
Purchases Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 02 Gobind A/c
900
 Apr 30 Balance c/d
2,100
Apr 05 Rahul A/c
1,200
2,100
2,100
Input CGST Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 02 Gobind A/c
54
 Apr 30 Balance c/d
138
Apr 05 Rahul A/c
72
Apr 20 Bank A/c
12
138
138
Input SGST Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 02 Gobind A/c
54
 Apr 30 Balance c/d
138
Apr 05 Rahul A/c
72
Apr 20 Bank A/c
12
138
138
Sales Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 30 Balance c/d
3,300
 Apr 03 Sharma A/c
1,000
Apr 08 Zahir A/c
500
Apr 20 Sharma A/c
800
Apr 25 Zahir A/c
1,000
3,300
3,300
Output IGST Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 30 Balance c/d
396
 Apr 03 Sharma A/c
120
Apr 08 Zahir A/c
60
Apr 20 Sharma A/c
96
Apr 25 Zahir A/c
120
396
396
Discount Allowed Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 18 Sharma A/c
50
 Apr 30 Balance c/d
50
50
50
Rent Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 20 Bank A/c
200
 Apr 30 Balance c/d
200
200
200
Salary Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(₹)
Date
Particulars
J.F.
Amount
(₹)
Apr 30 Cash A/c
300
 Apr 30 Balance c/d
300
300
300
Trial Balance
as on Apr 30, 2019
S.No.
List of Items
Debit Balances
(₹)
Credit Balances
(₹)
1
 Bank
7,276
2
 Bills Payable
1,000
3
 Zahir
2,480
4
 Stock
4,000
5
 Gobind
1,508
6
 Sharma
1,466
7
 Rahul
2,244
8
 Capital
9,700
9
 Purchases
2,100
10
 Input CGST A/c
138
11
 Input SGST A/c
138
12
 Sales
3,300
13
 Output IGST A/c
396
14
 Discount Allowed
50
15
 Rent
200
16
 Salary
300
Total
18,148
18,148

flag
Suggest Corrections
thumbs-up
3
similar_icon
Similar questions
Q. R. Chetan, Kolkata has the following balances in his books on 1st March, 2019:
Cash ₹ 15,400; Cash at Bank ₹ 82,500; Stock ₹ 1,92,500; Plant and Machinery ₹ 4,40,000.
Sundry Debtors: Rajesh ₹ 27,500; James ₹ 13,750.
Sundry Creditors: Rao ₹ 19,250, Samanta; ₹ 35,750; Capital ₹ 7,16,650.
The following are the transactions for the month of March 2019:
2019 ₹
March 1 Cash Sales* 2,000
March 2 Purchases machinery by cheque* 5,000
March 4 Paid salaries by cheque 2,750
March 7 Paid wages 440
March 9 Rajesh settled his account by cheque less 5% discount
March 11 Sold goods on credit to James, Patna** 10,000
March 13 Sent a credit note to James for goods returned** (Including IGST reversed) 2,240
March 18 Paid to Rao by cheque in full settlement 18,000
March 20 Took loan from Bank of Baroda 50,000
March 22 Withdrawn from bank for personal purposes 2,500
March 25 Bought goods from Samanta, Delhi** 5,000
March 27 Paid corporation tax by cheque 1,155
March 30 Cash sales (Including CGST and SGST @ 6% each) and paid into bank 4,480
March 31 All cash in hand, with the exception of ₹ 825 retained for change, was paid into the bank

Transactions marked with (*) are intra-state transactions subject to CGST and SGST @ 6% each. Transactions marked with (**) are inter-state transactions subject to IGST @ 12%.
Record these transactions in his subsidiary books, post to the Ledger and prepare a Trial Balance as on 31st March, 2019.
Q. The following purchases were made by Karam, Kolkata, during the month of April, 2019. Prepare Purchases Book and post into Ledger Accounts:
2019
April 8 Purchased on credit from Subodh Brothers, Delhi:
5 chests of tea @ ₹ 7,000 per chest at a Trade Discount of 10% plus IGST @ 12% and packing and other charges ₹ 500.
April 12
 Purchased in cash 20 boxes of tea @ ₹ 500 per box at a Trade Discount of 10% plus CGST and SGST @ 6% each.
April 18 Purchased from Raj Furnishing House:
3 show cases @ ₹ 7,500 per case at a Trade Discount of 10% plus CGST and SGST @ 6% each.
April 20

 Purchased from Siliguri Tea Agency, Siliguri, West Bengal: 15 boxes of tea @ ₹ 600 per box at a Trade Discount of 10% plus CGST and SGST @ 6% each and packing and other charges ₹ 50.
April 25 Purchased from Darjeeling Tea House, Darjeeling, West Bengal: 5 kgs of Special Green Tea @ ₹ 500 per kg at a Trade Discount of 10% plus CGST and SGST @ 6% each for household consumption of proprietor.
Q. On 1st January, 2019, Ram of Kolkata commenced business with a capital of ₹ 50,000 and entered into following transactions:
Pass the following transactions through proper books to the Ledger. Take out a Trial Balance as on 31st January, 2019. The Cash Book must be balanced.
2019 ₹
Jan. 1 Opened a Bank Account and Deposited 12,500
Purchased Goods against Cash Payment* 20,000
Purchased furniture for Shop* 5,000
Sold goods to R. Raman, Kolkata* 5,000
Jan. 2 Bought goods from Man Mohan, Delhi** 10,000
Jan. 3 Bought stationery and paid by cash 1,000
Jan. 5 Received cash from R. Raman 5,300
Discount allowed to him 300
Jan. 6 Sold goods to Bimal, Kolkata* 7,500
Jan. 8 Bimal returned part of the goods supplied on the 6th instant 1,500
Jan. 10 Paid cash into bank 1,000
Jan. 12 Paid wages 1,500
Jan. 13 Bought on credit from the Union Furniture Co., Kolkata office desk* 1,500
Jan. 19 Paid wages 1,500
Jan. 21 Paid to Man Mohan by cheque 10,700
Discount received 500
Jan. 21 Sold goods to Ramesh, Guwahati including IGST** 6,720
Jan. 22 Received cheque from Bimal 6,000
Jan. 23 Bought goods from Man Mohan, Delhi** 7,000
Jan. 24 Drew by cheque for personal use 2,000
Jan. 27 Paid wages 1,500
Jan. 31 Rent due to landlord* 1,000

Transactions marked with (*) are intra-state transactions subject to CGST and SGST @ 6% each.
Transactions marked with (**) are inter-state transactions subject to IGST @ 12%.
Q. On 1st April, 2019, Mohit, Delhi started business with a capital of ₹ 50,000. He made the following transactions during the month of April:
2019 ₹
April 3 Purchased goods from Rita, Delhi on credit for 20,000
April 4 Cash paid to Rita 10,000
April 6 Goods sold to Rohit, Chandigarh 25,000
April 8 Received cash from Rohit 20,000
April 12 Goods purchased from Rita 12,000
April 18 Cash paid to Rita 20,000
April 25 Goods sold to Rohit, Chandigarh 10,000
April 30 Received cash from Rohit 6,000

You are required to journalise the above transactions and show the respective Ledger accounts.
Q. Following balances appeared in the books of Ashok, Delhi on 1st April, 2019:
Assets: Cash ₹ 50,000; Stock ₹ 30,000; Debtors − Ram ₹ 50,000; Machinery ₹ 60,000.
Liabilities: Creditor − Rajesh ₹ 30,000.
The following transactions took place in April, 2019:
2019 ₹
April 4 Sold goods for cash 7,000
April 6 Goods returned by Ram, Delhi 1,000
April 10 Purchased goods from Rajesh, Jaipur (Rajasthan) of list price ₹ 10,000 for 9,000
April 15 Bought goods of list price of ₹ 15,000 from Rakesh, Kolkata less 10% trade
discount and 5% cash discount and paid 40% of amount immediately
April 20 Paid to Rajesh in full settlement of his account* 38,600
April 25 Paid for the life insurance premium of the proprietor* 500
April 30 Received commission (Including CGST and SGST @ 6% each) 2,000

CGST and SGST @ 6% each is levied on intra-state transactions and IGST is levied @ 12% on inter-state transactions. Transactions marked with (*) are not subject to levy of GST.
Pass Journal entries for the above transaction, post them into the Ledger and prepare the Trial Balance on 30th April, 2019.
View More
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Sales Tax and Value Added Tax
MATHEMATICS
Watch in App
explore_more_icon
Explore more
Sales Tax and Value Added Tax
Standard VIII Mathematics
Join BYJU'S Learning Program
book_image
Solve
book_image
Textbooks
book_image
Question Papers
book_image
Install app
CrossIcon