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Standard XII
Accountancy
Changes in Trade Payables
Pass Journal ...
Question

Pass Journal entries of M/s. Bhanu Traders, Delhi from the following transactions. Post them to the Ledger:

2018 ₹
April 1 Commenced business with cash* 1,50,000
April 2 Opened a bank account with PNB* 50,000
April 3 Purchased furniture 20,000
April 7 Bought goods for cash from M/s. Rupa Traders, Delhi 30,000
April 8 Purchased goods from M/s. Hema Traders, Chandigarh 42,000
April 10 Cash sales 30,000
April 14 Sold goods on credit to M/s. Gupta Traders, Kolkata 12,000
April 16 Rent paid 4,000
April 18 Paid Electricity expenses* 1,000
April 20 Received cash from Gupta Traders* 12,000
April 22 Goods returned to Hema Traders 2000
April 23 Cash paid to Hema Traders* 40,000
April 25 Bought postage stamps* 100
April 30

Paid salary to Mohan*

4,000
Intra-state transactions are subject to levy of CGST and SGST @ 6% each whereas inter-state transactions are subject to levy of IGST @ 12%. Out of the above transactions marked (*) are not subject to levy of GST.

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Solution

Journal
Date
Particulars
L.F.
Debit
Amount
(Rs)
Credit
Amount
(Rs)
2018
Apr 01
 Cash A/c
Dr.
1,50,000
To Capital A/c
1,50,000
(Started business with cash)
Apr 02
 Bank A/c
Dr.
50,000
To Cash A/c
50,000
(Opened Bank A/c)
Apr 03
 Furniture A/c
Dr.
20,000
Input CGST A/c
Dr.
1,200
Input SGST A/c
Dr.
1,200
To Cash A/c
22,400
(Furniture purchased)
Apr 07
 Purchases A/c
Dr.
30,000
Input CGST A/c
Dr.
1,800
Input SGST A/c
Dr.
1,800
To Cash A/c
33,600
(Goods purchased)
Apr 08
 Purchases A/c
Dr.
42,000
Input IGST A/c
Dr.
5,040
To M/s Hema Traders A/c
47,040
(Goods purchased)
Apr 10
 Cash A/c
Dr.
33,600
To Sales A/c
30,000
To Output CGST A/c
1,800
To Output SGST A/c
1,800
(Goods sold)
Apr 14
 M/s Gupta Traders A/c
Dr.
13,440
To Sales A/c
12,000
To Output IGST A/c
1,440
(Goods sold)
Apr 16
 Rent A/c
Dr.
4,000
Input CGST A/c
Dr.
240
Input SGST A/c
Dr.
240
To Cash A/c
4,480
(Rent paid)
Apr 18
 Electricity Expenses A/c
Dr.
1,000
To Cash A/c
1,000
(Paid electricity expenses)
Apr 20
 Cash A/c
Dr.
12,000
To Gupta Traders A/c
12,000
(Cash received from Gupta Traders)
Apr 22
 Hema Traders A/c
Dr.
2,240
To Purchases Return A/c
2,000
To Input IGST A/c
240
(Goods returned)
Apr 23
 Hema Traders A/c
Dr.
40,000
To Cash A/c
40,000
(Cash paid)
Apr 25
 Postage A/c
Dr.
100
To Cash A/c
100
(Bought postage stamps)
Apr 30
 Salary A/c
Dr.
4,000
To Cash A/c
4,000
(Paid salary)
Cash Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 01 Capital A/c
1,50,000
 Apr 02 Bank A/c
50,000
Apr 10 Sales A/c
30,000
 Apr 03 Furniture A/c
20,000
Apr 10 Output CGST A/c
1,800
 Apr 03 Input CGST A/c
1,200
Apr 10 Output SGST A/c
1,800
 Apr 03 Input SGST A/c
1,200
Apr 20 Gupta Traders A/c
12,000
 Apr 07 Purchases A/c
30,000
Apr 07 Input CGST A/c
1,800
Apr 07 Input SGST A/c
1,800
Apr 16 Rent A/c
4,000
Apr 16 Input CGST A/c
240
Apr 16 Input SGST A/c
240
Apr 18 Electricity Expenses A/c
1,000
Apr 23 Hema Traders A/c
40,000
Apr 25 Postage A/c
100
Apr 30 Salary A/c
4,000
Apr 30 Balance c/d
40,020
1,95,600
1,95,600
Capital Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 01 Cash A/c
1,50,000
 Apr 30 Balance c/d
1,50,000
1,50,000
1,50,000
Bank Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 02 Cash A/c
50,000
 Apr 30 Balance c/d
50,000
50,000
50,000
Furniture Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 03 Cash A/c
20,000
 Apr 30 Balance c/d
20,000
20,000
20,000
Input CGST Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 03 Cash A/c
1,200
 Apr 30 Balance c/d
3,240
Apr 07 Cash A/c
1,800
Apr 16 Cash A/c
240
3,240
3,240
Input SGST Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 03 Cash A/c
1,200
 Apr 30 Balance c/d
3,240
Apr 07 Cash A/c
1,800
Apr 16 Cash A/c
240
3,240
3,240
Purchases Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 07 Cash A/c
30,000
 Apr 30 Balance c/d
72,000
Apr 08 M/s Hema Traders A/c
42,000
72,000
72,000
Hema Traders Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 22 Purchases Return A/c
2,000
 Apr 08 Purchases
42,000
Apr 22 Input IGST A/c
240
 Apr 08 Input IGST
5,040
Apr 23 Cash A/c
40,000
Apr 30 Balance c/d
4,800
47,040
47,040
Sales Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 30 Balance c/d
42,000
 Apr 10 Cash A/c
30,000
Apr 14 Gupta Traders A/c
12,000
42,000
42,000
Output CGST Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 30 Balance c/d
1,800
 Apr 10 Cash A/c
1,800
1,800
1,800
Output SGST Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 30 Balance c/d
1,800
 Apr 10 Cash A/c
1,800
1,800
1,800
Input IGST Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 08 Hema Traders A/c
5,040
 Apr 22 Hema Traders A/c
240
Apr 30 Balance c/d
4,800
5,040
5,040
Output IGST Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 30 Balance c/d
1,440
 Apr 14 Gupta Traders A/c
1,440
1,440
1,440
Gupta Traders Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 14 Sales A/c
12,000
 Apr 20 Cash A/c
12,000
Apr 14 Output IGST A/c
1,440
 Apr 30 Balance c/d
1,440
13,440
13,440
Rent Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 16 Cash A/c
4,000
 Apr 30 Balance c/d
4,000
4,000
4,000
Electricity Expenses Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 18 Cash A/c
1,000
 Apr 30 Balance c/d
1,000
1,000
1,000
Purchases Return Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 30 Balance c/d
2,000
 Apr 22 Hema Traders A/c
2,000
2,000
2,000
Postage Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 25 Cash A/c
100
 Apr 30 Balance c/d
100
100
100
Salary Account
Dr.
Cr.
Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
Apr 30 Cash A/c
4,000
 Apr 30 Balance c/d
4,000
4,000
4,000

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