Practical Problem 03

Journalise the following transactions in the books of Ashok General Stores.
2019
May-01	Received Rs 5,000 from Ram on behalf of Bharat.
4	Purchased Goods for cash Rs 55,000.
8	Paid for Salary Rs 8,000.
12	Purchased goods from Ganesh Rs 30,000 on credit.
17	Sold goods to Mrs. Neha Rs 60,000 on credit.
20	Purchased Machinery of Rs 80,000 @ 12% GST and amount paid by cheque.
25	Paid to SG & Sons by cheque Rs 30,000.
28	Received Commission Rs 10,000 from Ganesh.
30	Paid Rent Rs 5000.
31	Purchased Shares of Atul Company Ltd. for Rs 10,000 through Demat account.

In the books of Ashok General Stores.
Journal Entries
Date	Particular	L.F	Debit	Credit
2019
May-01	Cash A/c ……………………………………………………………………………..Dr		5,000
	To Bharat A/c			5,000
	(Being amount received from Ram on behalf of Bharat)
4	Purchase A/c ………………………………………………………………………Dr		55,000
	To Cash A/c			55,000
	(Being goods Purchased by Cash)
8	Salary A/c ……………………………………………………………………………Dr		8,000
	To Cash A/c			8,000
	(Being Salary Paid)
12	Purchase A/c ………………………………………………………………………Dr		30,000
	To Ganesh A/c			30,000
	(Being Goods purchase from ganesh on Credit)
17	Neha A/c ……………………………………………………………………………Dr		60,000
	To Sales A/c			60,000
	(Being goods sold to Mrs Neha on credit)
20	Machinery A/c ……………………………………………………………………Dr		80,000
	Input CGST A/c ……………………………………………………………..Dr		4,800
	Input SGST A/c …………………………………………………………………..Dr		4,800
	To Bank A/c			89,600
	(Being Machinery purchase by Cheque at 12% GST)
25	SG & Son’s A/c ……………………………………………………………………Dr		30,000
	To Bank A/c			30,000
	(Being Amount paid to SG & Son’s by Cheque)
28	Cash A/c ……………………………………………………………………………..Dr		10,000
	To Commission A/c			10,000
	(Being Commission received from Ganesh)
30	Rent A/c ………………………………………………………………………………Dr		5,000
	To Cash A/c			5,000
	(Being Rent Paid)
31	Investment A/c ……………………………………………………………………Dr		10,000
	To Bank A/c			10,000
	(Being sahres of Atul Company Ltd purchased through DEMAT )
	Total		3,02,600	3,02,600

Practical Problem 03

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