Practical Problem 10

Journalise the following transactions in the books of Harbhajan & Co. for the month
of 1st April 2019.
Balance on 1st April 2019
Cash in hand Rs 35,000, Cash at Bank Rs 25,000, Furniture Rs 1,50,000, Laptop Rs1,00,000,
Debtors : Sangita Rs 40,000, Viru Rs 30,000
Creditors : Ganesh Rs 10,000, Garima Rs 40,000, Bank loan Rs 50,000.
2019
Apr-01	Purchased goods from Ajay kumar worth Rs 2,50,000 at 10% Trade discount @18% GST
	and paid 1/4 amount in Cash.
5	Purchased shares of Infosysis Company Rs 50,000 and Rs 500 paid as brokerage by DematA/c.
8	Sold goods to Raj worth Rs 90,000 at 10% Trade discount and 1/3 amount received by cash
	and 5% cash discount is allowed.
12	Paid house rent of proprietor Rs 9,000 and office rent Rs 5,000.
15	Purchased Laptop of Rs 60,000 @ 18% GST and paid amount by cheque.
20	Paid transport charges on the above Laptop Rs 1,000 @ 18% GST.
25	Paid Commission Rs 20,000 to Ram.
26	Paid Telephone Charges Rs 1,000.
28	Transferred from private Bank A/c of proprietor to business Bank A/c Rs 40,000.
30	Bought goods for Rs 1,50,000 @ 12% as GST by cheque.
30	Exchanged our Furniture of Rs 30,000 against a Motor car of the same value for business.

In the books of Harbhajan & Co.
Journal Entries
Date	Particular	L.F	Debit	Credit
2019
Apr-01	Cash in Hand A/c ………………………………………………………………….Dr		35,000
	Cash at Bank A/c ………………………………………………………………….Dr		25,000
	Furniture A/c ……………………………………………………………………….Dr		1,50,000
	Laptop A/c …………………………………………………………………………..Dr		1,00,000
	Sangita A/c …………………………………………………………………………..Dr		40,000
	Viru A/c ………………………………………………………………………………Dr		30,000
	To Ganesh A/c			10,000
	To Garima A/c			40,000
	To Bank Loan A/c			50,000
	To Capital A/c			2,80,000
	(Being balance of asset and Liabilities carried forward)
1	Purchase A/c ………………………………………………………………………..Dr		2,25,000
	Input CGST A/c …………………………………………………………………….Dr		20,250
	Input SGST A/c …………………………………………………………………….Dr		20,250
	To Cash A/c			66,375
	To Ajay Kumar A/c			1,99,125
	(Being goods purchased from ajay kumar at 18% GST & 1/4th
	amount paid by Cash)
5	Investment A/c ………………………………………………………………….Dr		50,500
	To Bank A/c			50,500
	(Being Shares of Infosysis purchased and Brokerage Paid)
8	Raj A/c ………………………………………………………………………………..Dr		54,000
	Cash A/c ……………………………………………………………………………..Dr		25,650
	Discount Allowed A/c …………………………………………………………Dr		1,350
	To Sales A/c			81,000
	(Being goods sold to Raj at 10% T.D and 5% C.D and 1/3rd
	Amount received by cash)
12	Drawing A/c ………………………………………………………………………Dr		9,000
	Rent A/c …………………………………………………………………………….Dr		5,000
	To Cash A/c			14,000
	(Being Office rent and Property’s house rent paid)
15	Laptop A/c …………………………………………………………………………..Dr		60,000
	Input CGST A/c ……………………………………………………………………Dr		5,400
	Input SGST A/c …………………………………………………………………….Dr		5,400
	To Bank A/c			70,800
	(Being Laptop Purchased by Cheque at 18% GST)
20	Laptop A/c …………………………………………………………………………..Dr		1,000
	Input CGST A/c ……………………………………………………………………Dr		90
	Input SGST A/c …………………………………………………………………….Dr		90
	To Cash A/c			1,180
	(Being Transport charges paid for laptop at 18% GST)
25	Commission A/c ………………………………………………………………….Dr		20,000
	To Cash A/c			20,000
	(Being Commision paid to Ram)
26	Telephone Charges A/c ………………………………………………………..Dr		1,000
	To Cash A/c			1,000
	(Being Telephone Charges paid)
28	Bank A/c ……………………………………………………………………………..Dr		40,000
	To Capital A/c			40,000
	(Being Capital Introduce by Proprietor )
30	Purchase A/c ………………………………………………………………………..Dr		1,50,000
	Input CGST A/c ……………………………………………………………………Dr		9,000
	Input SGST A/c …………………………………………………………………….Dr		9,000
	To Bank A/c			1,68,000
	(Being goods purchased by Cheque at 12% GST)
30	Motor Car A/c ……………………………………………………………………Dr		30,000
	To Furniture A/c			30,000
	(Being Our furniture exchanged against Motor car for business)
			11,21,980	11,21,980

Practical Problem 10

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