Practical Problem 08

Journalise the following transactions in the books of Dhoni Auto Car Centre
2018
Nov-01	Sold 1,000 shares for Rs 100 each and paid brokerage @ 1% and amount credited to our
	account.
4	Purchased goods from Ashish & Co. of Rs 2,00,000.
6	Sold goods to Virat & Co. Rs 1,50,000.
8	Paid for Advertisement Rs 30,000 to Times of India.
10	Paid for Printing and Stationery Rs 7,000.
12	Purchased goods from Prakash & Co. 1,50,000 @18% GST.
15	Paid for Transport charges Rs 10,000 @12% GST.
20	Purchased goods from Vikram & Sons Rs 1,20,000 @ 18% GST and paid half the amount
	immediately.
25	Paid to Prakash & Co. less 10% discount.
30	Invoiced Goods to Sanjay Rs 60,000.
31	Sanjay returned goods of Rs 10,000.
31	Sanjay became insolvent and recovered only 50 paise in a rupee as final settlement
	from him.

In the books of Dhoni Auto car Centre
Journal Entries
Date	Particular	L.F	Debit	Credit
2018
Nov-01	Bank A/c …………………………………………………………………………………………Dr		99,000
	To Investment A/c			99,000
	(Being 1000 Shares Sold for Rs 100 each and paid brokerage @ 1%
	and amount credited to our account)
4	Purchase A/c ………………………………………………………………………………….Dr		2,00,000
	To Ashish & Co. A/c			2,00,000
	(Being goods purchased from Ashish & Co.)
6	Virat & Co. A/c ……………………………………………………………….…….………..Dr		1,50,000
	To Sales A/c			1,50,000
	(Being Goods Sold to Virat & Co.)
8	Advertisement A/c …………………………………………………………………………Dr		30,000
	To Cash A/c			30,000
	(Being advertisement charges paid to Times of India)
10	Printing and Stationery A/c …………………………………………………….……..Dr		7,000
	To Cash A/c			7,000
	(Being Printing and Stationery charges Paid)
12	Purchase A/c ………………………………………………………………………………….Dr		1,50,000
	Input CGST A/c ………………………………………………………………………………Dr		13,500
	Input SGST A/c ……………………………………………………………………….………Dr		13,500
	To Prakash & Co. A/c			1,77,000
	(Being goods purchased from Prakash & Co at 18% GST)
15	Transport Charges A/c ……………………………………………………………………Dr		10,000
	Input CGST A/c ………………………………………………………………………………Dr		600
	Input SGST A/c ………………………………………………………………………………Dr		600
	To Cash A/c			11,200
	(Being transport charges paid at 12% GST)
20	Purchase A/c …………………………………………………………………..…………….Dr		1,20,000
	Input CGST A/c ………………………………………………………………..……………Dr		10,800
	Input SGST A/c ………………………………………………………………..……………Dr		10,800
	To Cash A/c			70,800
	To Vikram & Son’s A/c			70,800
	(Being goods purchased from Vikram & sons at 18% GST and
	paid half the amount immediately)
25	Prakash & Co A/c ……………………………………………………………….…………Dr		1,77,000
	To Cash A/c			1,62,000
	To Discount Received A/c			15,000
	(Being payment made to prakash & Co and received 10% discount)
30	Sanjay A/c ………………………………………………………………………………………Dr		60,000
	To Sales A/c			60,000
	(Being goods sold to Sanjay)
31	Sales Return A/c ……………………………………………………………………………..Dr		10,000
	To Sanjay A/c			10,000
	(Being goods returned by Sanjay)
31	Cash A/c ……………………………………………………………………………………….Dr		25,000
	Bad debts A/c …………………………………………………………………………………Dr		25,000
	To Sanjay A/c			50,000
	(Being Sanjay became insolvent and recovered only 50 paise in a
	rupee as final settlement)
	Total		11,12,800	11,12,800

Practical Problem 08

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