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Profit and Loss Percent

Prepare the V...

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Prepare the Vouchers to be recorded in the books of M/s Elegant Furnitures, New Delhi:

2019 ₹

Jan. 1 Bought furniture from Modern Furniture for cash vide Cash Memo No. 241* 7,500

Jan. 8 Paid cash to Mani & Sons for purchase of 2 machines vide Cash Memo No. 1230* 5,000

Jan. 20 Paid for conveyance 150

Jan. 27 Sold old typewriter for cash vide cash receipt No. 314* 500

Transactions marked with * are subject to levy of CGST and SGST @ 6% each.

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Q. Prepare the Vouchers to be recorded in the books of M/s. Elegant Furnitures, New Delhi:

2018		₹
Jan. 1	Bought furniture from Modern Furniture for cash vide Cash Memo No. 241*	7,500
Jan. 8	Paid cash to Mani & Sons for purchase of 2 machines vide Cash Memo No. 1230*	5,000
Jan. 20	Paid for conveyance	150
Jan. 27	Sold old typewriter for cash vide cash receipt No. 314*	500

Tranactions marked with * are subject to levy of CGST and SGST @ 6% each.

Q. Prepare the Accounting Vouchers for the following transactions:

2019		₹
Jan. 1	Started business with cash	2,00,000
Jan. 1	Purchased furniture vide Cash Memo No. 210*	10,000
Jan. 5	Opened a Bank Account in Canara Bank	60,000
Jan. 10	Purchased garments on credit from M/s Madras Store vide Bill No. 291*	20,000
Jan. 12	Sold shirts to Ram Parkash on credit vide Bill No. 1*	5,000
Jan. 15	Sold shirts for cash vide Cash Memo No. 1*	7,000
Jan. 20	Withdrew from bank for office use by cheque No. 23301	20,000
Jan. 27	Withdrew for personal use by cheque No. 51003	5,000

Transactions marked with * are subject to levy of CGST and SGST @ 6% each.

Q. Prepare the Vouchers to be recorded in the books of M/s. Computer Aids:

2018		₹
Jan. 1	Bought computer for resale for cash vide Cash Memo No. 512*	7,200
Jan. 8	Salary paid for the month of December, 2017	10,000
Jan. 10	Sold computer for cash vide Cash Memo No. 64*	12,000
Jan. 15	Withdraw cash from bank for office use vide cheque No.13456	1,700

Transactions marked with * are subject to levy of CGST and SGST @ 6% each.

Q. Prepare the Vouchers to be recorded in the books of M/s Computer Aids:

2019		₹
Jan. 1	Bought computer for resale for cash vide Cash Memo No. 512*	7,200
Jan. 8	Salary paid for the month of December, 2018	10,000
Jan. 10	Sold computer for cash vide Cash Memo No. 64*	12,000
Jan. 15	Withdraw cash from bank for office use vide cheque No. 13456	1,700

Transactions marked with * are subject to levy of CGST and SGST @ 6% each.

Q. Enter the following transactions in the Journal of M/s. Karim Bros., Prop. Shri Karim Khan, Kolkata, post to the Ledger and prepare the Trial Balance:

2018		₹
April 1	Assets: Cash in Hand ₹ 20,000; Cash at Bank ₹ 35,000; Stock ₹ 15,000; Furniture ₹ 4,500; Input SGST ₹ 5,000; Input IGST ₹ 2,000 Debtors: Poonam ₹ 20,000; Sonu ₹ 10,000 Creditors: Ashok ₹ 13,500; Pankaj ₹ 21,500
April 4	Purchased goods from Pankaj, Kolkata	5,000
April 7	Paid to Ashok by cheque in full settlement of his account*	13,000
April 10	Sold goods to Poonam, Delhi	11,000
April 12	Purchased goods from Ashok, Delhi	15,000
April 15	Sold goods to Sonu, Kanpur	6,000
April 18	Received cheque from Poonam*	24,500
	Allowed her discount*	1,500
April 25	Paid for stationery	1,200
April 27	Paid telephone bill by cheque	3,500
April 30	Paid salaries*	6,000

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 (*).

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