Practical Problem 05

Journalise the following transactions in the books of Kunal Stores.
2018
Aug-01	Purchased goods of Rs 90,000 at 10% Trade Discount and 10% Cash Discount from
	Rakesh and 1/3rd amount Paid by cheque.
5	Opened current account in State Bank of India by depositing Rs 60,000.
8	Cash purchases Rs 85,000.
10	Goods sold on credit to Tushar Rs 20,000 @ 10% Trade Discount.
12	Paid Salary Rs 4,000.
16	Tushar returned goods of Rs 250.
17	Goods taken by Kunal for his private use Rs 2,000.
20	Purchased Laptop of Rs 40,000 from Joshi Electronics @18% GST and paid by cheque.
22	Rent paid by cheque Rs 15,000.
25	Purchased Motor car worth Rs 2,00,000 for@ 18% GST and paid by Bank.
26	Goods distributed as free sample Rs 4,000. (Advertisment)
28	Purchased goods from Amit of Rs 60,000 on credit.
29	Paid by ECS cash to Amit Rs 58,500, who allowed us discount Rs 1,500.
30	Sold goods Rs 5,000 at a loss of Rs 1,000 (Cash)
31	Sold goods for Rs 20,000. (cash)

In the books of Kunal Stores.
Journal Entries
Date	Particular	L.F	Debit	Credit
2018
Aug-01	Purchase A/c ………………………………………………………………………………………….………Dr		81,000
	To Bank A/c			24,300
	To Rakesh A/c			54,000
	To Discount Received A/c			2,700
	(Being goods purchased at 10% T.D & 10% C.D and 1/3 amount paid by Cheque)
5	State Bank of India A/c ………….………………………………………………………………………Dr		60,000
	To Cash A/c			60,000
	(Being Cash Deposited in State Bank of India)
8	Purchase A/c …………………………………………………………………………………………………Dr		28,500
	To Cash A/c			28,500
	(Being goods purchase by cash)
10	Tushar A/c ……………………………………………..………………………………………………………Dr		18,000
	To Sales A/c			18,000
	(Being goods sold on credit to tushar at 10% T.D)
12	Salary A/c ……………………………………………………………………………………………………….Dr		4,000
	To Cash A/c			4,000
	(Being Salary Paid)
16	Sales Return A/c ……………………………………………………………………………………………Dr		250
	To Tushar A/c			250
	(Being goods returned by tushar)
17	Drawings A/c ………………………………………………………………………………………………..Dr		2,000
	To Goods withdrawn by Kunal A/c			2,000
	(Being Goods taken by Kunal for his private use )
20	Laptop A/c …………………………………..………………………………………………………………..Dr		40,000
	Input CGST A/c ………………………………………………………………………………………………Dr		3,600
	Input SGST A/c ………………………………………………………………………………………………Dr		3,600
	To Bank A/c			47,200
	(Being Laptot purchase @ 18% GST and paid by Cheque)
22	Rent A/c ………………………………………………………………………………………………………..Dr		15,000
	To Bank A/c			15,000
	(Being Rent paid by Cheque)
25	Motor Car A/c …………………………………………………………………………………..……………Dr		2,00,000
	Input CGST A/c ……………………………………………………………………………………………….Dr		18,000
	Input SGST A/c ……………………………………………………………………………………………….Dr		18,000
	To Bank A/c			2,36,000
	(Being Motor Car Purchased at 28% GST and paid by Cheque)
26	Advertisement A/c ……………………………………………………………………………………….Dr		4,000
	To Goods distributed as free sample A/c			4,000
	(Being goods distributed as free sample)
28	Purchase A/c ………………………………………………………………………………………….………Dr		60,000
	To Amit A/c			60,000
	(Being goods purchase from amit on credit)
29	Amit A/c ………………………………………………………………………………………………………..Dr		60,000
	To Bank A/c			58,500
	To Discount Received A/c			1,500
	(Being Payment done to Amit by ECS and Discount received)
30	Cash A/c …………………………………………………………………………………………………………Dr		4,000
	Loss on sale A/c …………………………………………………………………………………………….Dr		1,000
	To Sales A/c			5,000
	(Being goods sold at loss)
31	Cash A/c …………………………………………………………………………………………………………Dr		20,000
	To Sales A/c			20,000
	(Being goods Sold)
	Total		6,97,450	6,97,450

Practical Problem 05

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