Record the following transaction in the Sales Book of Karunakaran & Sons, Chennai (Tamilnadu) assuming CGST @ 90% and SGST @ 9% and post them into Ledger :-

2017

Dec. 5 Sold of M/s Banwari Lal & Sons, Chennai, goods valued at ₹ 2,00,000 less Trade Discount 10%.

10 Sold to M/s Kanti Bhai & Sons, Bengaluru (Karnataka) :

75 Electric Fans @ ₹ 4,000 each

20 Room Coolers @ ₹ 10,000 each

Less: Trade Discount 8%

16 Mahindra & Co., Kochi (Kerala) purchased from us goods of ₹ 1,20,000, less: 5%.

24 Sold goods for cash ₹ 60,000.

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Solution

Sales Book of Karunakaran & Sons, Chennai (Tamilnadu)

Date Particulars L.F. Details (₹) Sales (₹) Output CGST
(₹) Output SGST
(₹) Output IGST
(₹) Total Amount
(₹)

2017

Dec. 05 M/s Banwari Lal & Sons, Chennai 2,00,000

Less: 10% Trade Discount 20,000

1,80,000

Add: 9% CGST 16,200

9% SGST 16,200

2,12,400 1,80,000 16,200 16,200 – 2,12,400

Dec. 10 M/s Kanti Bhai & Sons, Bengaluru (Karnataka)

75 Electric Fans @ Rs 4,000 each 3,00,000

20 Room Coolers @ Rs 10,000 each 2,00,000

5,00,000

Less: 8% Trade Discount 40,000

4,60,000

Add: 18% IGST 82,800

5,42,800 4,60,000 – – 82,800 5,42,800

Dec. 16 Mahindra & Co., Kochi (Kerala) 1,20,000

Less: 5% Trade Discount 6,000

1,14,000

Add: 18% IGST 20,520

1,34,520 1,14,000 – – 20,520 1,34,520

Dec. 31 7,54,000 16,200 16,200 1,03,320 8,89,720

Sales Account

Dr. Cr.

Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount
(₹)

2017

Dec. 31 Sundries as per Sales Book 7,54,000

M/s Banwari Lal & Sons

Dr. Cr.

Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)

2017

Dec. 05 Sales A/c 1,80,000

Dec. 05 Output CGST A/c 16,200

Dec. 05 Output SGST A/c 16,200

M/s Kanti Bhai & Sons Account

Dr. Cr.

Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)

2017

Dec. 10 Sales A/c 4,60,000

Dec. 10 Outpput IGST A/c 82,800

Mahindra & Co. Account

Dr. Cr.

Date Particulars J.F. Amount (₹) Date Particulars J.F. Amount (₹)

2017

Dec. 16 Sales A/c 1,14,000

Dec. 16 Outpput IGST A/c 20,520

Note: Transaction on Dec. 24 will not be recorded in the Sales Book as it is a cash transaction.

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Similar questions

2017
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	50 Chairs @ ₹ 2,000 each
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10	Purchased furniture from Mahadeva & Co., Jaipur (Rajasthan) valued ₹ 2,00,000, less $12 \frac{1}{2}$ % Trade Discount.
18	Purchased furniture from Fashion Furniture House, Chandigarh of the list price of ₹ 2,50,000, less 15%.
20	Purchased from India Furniture House, New Delhi :
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March 1	Sold to Vandna Electronics, Kolkata (West Bengal) Vide Invoice No. 1255 :
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15	Sold to Superior Watch Company, Ranchi Vide Invoice No. 1257 :
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2017
Nov. 7	Returned to Sachdeva Furniture Store, Ahmedabad (Gujarat) :
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	1 Table for ₹ 15,000
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22	Returned 8 Chairs to India Furniture House, Jodhpur (Rajasthan) @ ₹ 1,500 each, being not of specified quality.
24	Returned one Dining Table to Arora & Co., Jaipur (Rajasthan) being not according to sample ₹ 50,000.
28	Allowance claimed from Delhi Furniture Shop, Ahmedabad (Gujarat) on account of mistake in the invoice ₹ 16,000.

2017
June 4	Sold to Gupta Furniture House, Agra (U.P.) :-
	120 Chairs @ ₹ 2,500 per Chair
	25 Tables @ ₹ 8,000 per Table
	Less: 5%
8	Sold to Raja Furniture House, Ahmedabad (Gujarat) :-
	8 Almirahs @ ₹ 15,000 each
	9 Steel Cabinets @ ₹ 20,000 each
	Less: Trade discount of 10%
12	Sold old Computer for ₹ 1,500 to Mohan & Co. on Credit.
20	Sold 4 Sofa sets @ ₹ 25,000 each to Varun & Co. for cash
25	Sold to New Furniture House, Jaipur:-
	5 Sofa sets @ ₹ 20,000 each
	10 Tables @ ₹ 8,000 each
28	Purchased from Ram Lal & Co. Jaipur on credit :-
	50 chairs @ ₹ 2,000 each

2018
March 1	Purchased goods for ₹ 5,00,000 from Mehta Bros.
March 10	Sold goods for ₹ 8,00,000 to Munjal & Co.
March 15	Paid for advertisement ₹ 40,000 by cheque.
March 18	Purchased furniture for office use ₹ 50,000 and payment made by cheque.
March 25	Paid for printing and stationery ₹ 8,000.
March 31	Payment made of balance amount of GST.

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2017
Dec. 5	Sold of M/s Banwari Lal & Sons, Chennai, goods valued at ₹ 2,00,000 less Trade Discount 10%.
10	Sold to M/s Kanti Bhai & Sons, Bengaluru (Karnataka) :
	75 Electric Fans @ ₹ 4,000 each
	20 Room Coolers @ ₹ 10,000 each
	Less: Trade Discount 8%
16	Mahindra & Co., Kochi (Kerala) purchased from us goods of ₹ 1,20,000, less: 5%.
24	Sold goods for cash ₹ 60,000.

Sales Book of Karunakaran & Sons, Chennai (Tamilnadu)
Date	Particulars	L.F.	Details (₹)	Sales (₹)	Output CGST (₹)	Output SGST (₹)	Output IGST (₹)	Total Amount (₹)
2017
Dec. 05	M/s Banwari Lal & Sons, Chennai		2,00,000
	Less: 10% Trade Discount		20,000
			1,80,000
	Add: 9% CGST		16,200
	9% SGST		16,200
			2,12,400	1,80,000	16,200	16,200	–	2,12,400
Dec. 10	M/s Kanti Bhai & Sons, Bengaluru (Karnataka)
	75 Electric Fans @ Rs 4,000 each		3,00,000
	20 Room Coolers @ Rs 10,000 each		2,00,000
			5,00,000
	Less: 8% Trade Discount		40,000
			4,60,000
	Add: 18% IGST		82,800
			5,42,800	4,60,000	–	–	82,800	5,42,800

Dec. 16	Mahindra & Co., Kochi (Kerala)		1,20,000
	Less: 5% Trade Discount		6,000
			1,14,000
	Add: 18% IGST		20,520
			1,34,520	1,14,000	–	–	20,520	1,34,520
Dec. 31				7,54,000	16,200	16,200	1,03,320	8,89,720