Practical Problem 09

Journalise the following transactions in the books of Hero Enterprises.
Balance on 1st April 2019
Cash at Bank Rs 80,000, Sundry Debtors Ram Rs 20,000, Rahim Rs 30,000, Stock Rs 55,000,
Building Rs 1,50,000.
Credit Balances on 1st April 2019
Sundry Creditors Swapna Rs 20,000, Rohit Rs 30,000, Bank Loan Rs 50,000.
2019
Apr-01	Purchased goods worth Rs 1,50,000 from Prashant & Co., less 10% Trade Discount.
4	Sold goods to Mr. Amit Sharma Rs 70,000 at 10% Trade Discount on credit.
9	Purchased goods for cash Rs 2,00,000 @28% GST amount paid by NEFT.
12	Sold Goods to Aditya Ray of Rs 90,000 @28% GST.
15	Paid for Rent Rs 5000 and Salary Rs 18,000.
17	Paid for Proprietor’s house Rent Rs 12,000.
20	Sold half of the goods purchased on 9th April at 20% Profit and 28% GST. (CASH)
25	Paid for Wages Rs 1,500.
25	Purchased Furniture Rs 1,80,000 @12% GST and amount paid by RTGS.
28	Sold an old Furniture of Rs 20,000 for Rs 12,000. (8,000 LOSS)
30	Sold shares of Rs 10,000 for Rs 15,000 and amount received by cheque. (5,000 PROFIT)

In the books of Hero Enterprises.
Journal Entries
Date	Particular	L.F	Debit	Credit
2019
Apr-01	Cash at Bank A/c …………………………………………………….……………..Dr		80,000
	Ram A/c …………………………………………………………………………………Dr		20,000
	Rahim A/c ……………………………………………………………………………..Dr		30,000
	Stock A/c ………………………………………………………………………………Dr		55,000
	Building A/c …………………………………………………………………………..Dr		1,50,000
	To Swapna A/c			20,000
	To Rohit A/c			30,000
	To Bank Loan A/c			5,000
	To Capital A/c			2,35,000
	(Being balances of assets and liabilities brought forward)
1	Purchase A/c …………………………………………………………………………Dr		1,35,000
	To Prashant & Co A/c			1,35,000
	(Being goods purchased from Prashant & Co. at 10% T.D)
4	Amit Sharma A/c ……………………………………………………………………Dr		63,000
	To Sales A/c			63,000
	(Being goods sold to Amit Sharma at 10% T.D)
9	Purchase A/c …………………………………………………………………………Dr		2,00,000
	Input CGST A/c ……………………………………………………..………………Dr		28,000
	Input SGST A/c …………………………………………………………………..…Dr		28,000
	To Bank A/c			2,56,000
	(Being goods purchased @ 28% GST and amount paid by NEFT)
12	Aditya Ray A/c …………………………………………………………………..…..Dr		1,15,200
	To Sales A/c			90,000
	To Output CGST A/c			12,600
	To Output SGST A/c			12,600
	(Being goods sold to Aditya Ray at 18% GST)
15	Rent A/c …………………………………………………………………………………Dr		5,000
	Salary A/c ………………………………………………………………………………Dr		8,000
	To Cash A/c			13,000
	(Being Rent and Salary Paid)
17	Drawings A/c …………………………………………………………………………Dr		12,000
	To Cash A/c			12,000
	(Being Proprietor’s house rent Paid)
20	Cash A/c ………………………………………………………………………………..Dr		1,53,600
	To Sales A/c			1,20,000
	To Output CGST A/c			16,800
	To Output SGST A/c			16,800
	(Being Half goods purchased on 9th April Sold at 20% Profit
	and 28% GST)
25	Wages A/c …………………………………………………………………………….Dr		1,500
	To Cash A/c			1,500
	(Being Wages Paid)
25	Furniture A/c ………………………………………………………………………….Dr		1,80,000
	Input CGST A/c ……………………………………………………..……………….Dr		10,800
	Input SGST A/c ………………………………………………………………..…….Dr		10,800
	To Bank A/c			2,01,600
	(Being Furniture Purchased by RTGS at 12% GST)
28	Cash A/c …………………………………………………………………………….…..Dr		12,000
	Loss on sales of furniture A/c ………………………………………………..Dr		8,000
	To Furniture A/c			20,000
	(Being Old Furniture Sold)
31	Bank A/c ……………………………………………………………………………..…Dr		15,000
	To Investment A/c			10,000
	To Profit on sale of Investment A/c			5,000
	(Being Shares Sold and Amount Received by Cheque)
	Total		13,20,900	13,20,900

Practical Problem 09

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