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Subtraction of Decimals

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Question

Record the following transactions in the Purchases Return Book of Kamla Stores, Delhi for April, 2019:

2019

April 6 Returned goods to Ramesh Brothers, Delhi purchased for ₹ 5,000 plus CGST and SGST @ 6% each

April 8 Returned goods to Sohan Brothers, Meerut purchased for ₹ 10,000 plus IGST @ 12%

April 17 Returned goods to Mahesh Brothers of ₹ 2,000 plus CGST and SGST @ 6% each

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Solution

Books of Kamla Stores

Purchases Return Book

Date

Particulars

Debit

Note No

L.F.

Details

(₹)
Cost
(₹) Input CGST
(₹) Input SGST
(₹) Input IGST
(₹) Total
(₹)

2019

April 06

Ramesh Brothers, Delhi

5,000

Add: 6% CGST 300

6% SGST 300

5,600 5,000 300 300 - 5,600

April 08

Sohan Brothers, Meerut

10,000

Add: 12% IGST 1,200

11,200 10,000 - - 1,200 11,200

April 17 Mahesh Brothers 2,000

Add: 6% CGST 120

6% SGST 120

2,240 2,000 120 120 - 2,240

April 30

17,000 420 420 1,200 19,040

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Q. Record following transactions in the Purchases Return Book of Kamla Stores for June 2017:

2018
June 6	Returned goods to Ramesh Brothers, Delhi purchased for ₹ 5,000 plus CGST and SGST @ 6% each
June 8	Returned goods to Sohan Brothers, Meerut purchased for ₹ 10,000 plus IGST @ 12%
June 17	Returned goods to Mahesh Brothers of ₹ 2,000 plus CGST and SGST @ 6% each

Q. Prepare Sales Return Book of Shiv Shankar, Delhi from the following transactions and post them into Ledger:

2019
Feb. 10	Rama Stores, Delhi returned:
	2 Televisions Sony sold @ ₹ 20,000 each plus CGST and SGST @ 9% each
Feb. 20	Sohan Singh & Co. Dehradun returned:
	3 Washing Machines Videocon sold @ ₹ 10,000 each plus IGST @ 18%

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
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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.

Q. Pass Journal entries in the books of Puneet, Delhi for the following:
(i) Received an order from Karan & Co. for supply of goods of ₹ 50,000.
(ii) Received an order from AK & Co. for goods of ₹ 1,00,000 along with a cheque for ₹ 25,000 as advance.
(iii) Paid to staff ₹ 40,000 against outstanding salary of ₹ 60,000.
(iv) Sold goods to Bharat, Kaithal (Haryana) of ₹ 10,000 plus IGST @ 12% out of which 1/5th were returned being defective.
(v) Cheque of ₹ 20,000 issued by Feroz was dishonoured.
(vi) Received 40 paise in a rupee from Feroz against the above dues.
(vii) Received a cheque of ₹ 25,000 from Mohan after banking hours.
(viii) Purchased goods from Barun of Chandigarh of ₹ 10,000 plus IGST @ 12% and sold them to Arun of Shimla (HP) at ₹ 22,400, including IGST @ 12%.
(ix) Arun returned goods of ₹ 6,720, including IGST which were returned to Barun.
(x) ABC & Co. purchased 10 TV sets @ ₹ 20,000 per set and paid IGST @ 12%. It sold all the sets @ ₹ 25,000 per set plus CGST and SGST @ 6% each.
(xi) Paid insurance of ₹ 12,000 plus CGST and SGST @ 6% each for a period of one year.
(xii) Sold personal car for ₹ 1,00,000 and invested the amount in the firm.
(xiii) Goods costing ₹ 1,00,000 were destroyed in fire. Insurance company admitted the claim for ₹ 75,000. These goods were purchased within Delhi.
(xiv) Purchased machinery for ₹ 56,000 including IGST of ₹ 6,000 and paid cartage thereon ₹ 5,000 and installation charges ₹ 10,000.
(xv) Goods costing ₹ 40,000 sold to Mr. X at a profit of 20% on sales less 10% Trade Discount plus CGST and SGST @ 6% each and received a cheque under 2% cash discount.
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Q. Shri S. K. Gupta, Chandigarh commenced business on 1st April, 2019 with a capital of ₹ 1,20,000 of which ₹ 60,000 was paid into his Bank Account and balance retained as cash. His other transactions during the month were as follows:

2019		₹
April 2	Bought office furniture	20,000
April 5	Purchased goods	16,000
April 8	Purchased goods from Ramesh, Chandigarh	11,000
April 12	Sold goods to Sameer, Delhi	21,000
April 13	Purchased stationery for cash	1,800
April 13	Paid to Ramesh in cash on account*	10,000
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April 17	Withdrawn cash for office use*	4,000
April 18	Sen of Chandigarh sold goods to S.K. Gupta	30,000
April 19	Cash received from Sameer on account*	20,000
	Allowed him discount*	1,000
April 20	Sold to Raj Banwari, Delhi	40,000
April 28	Cash sales	1,400
April 30	Paid salary by cheque*	8,000
April 30	Paid rent by cheque	5,000
April 30	Paid telephone expenses by cheque	2,000
April 30	Paid cash into bank*	2,000

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 (*).
Journalise the above transactions and post them to the Ledger.

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