Journalise the following transactions in the boods of Rajan of Delhi: (i) Sold goods to Krishna of Delhi at the list price Rs. 20,000 less trade discount `10%` add CGST and SGST @`9%` each., and allowed cash discount `5%`, He paid the amount immediately. (ii) Supplied goods costing Rs, 6,000 to Mohan of Kolkata issued invoice at `10%` abvove cost less `5%` trade discount plus IGST @ ` 18%`. (iii) Goods valued at Rs. 2,500 distributed from stock as samples, as part of an advertising campaign. These goods were purchased paying CGST and SGST @ `9%` each. (iv) Anjan, a customer, to whom goods were sold, was allowed rebate of Rs 2, 000 because they were of poor quality. These goods were sold charging CGST and SGST @` 9%` each. (v) Sold goods costing Rs 1,00,000 to Anil of Delhi at a profit of `20%` on sales less `20%` Trade Discount plus CGST and SGST @` 9%` each and paid cartage Rs. 250 (Not to be charged from customer).
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Sold goods for cash of the list price of Rs 8,000 at 10% trade discount and 3% cash discount. Posting will be made in Discount A/c:
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Pass Journal entry for purchase of goods by Amrit, Delhi form Add Gel Pens, Delhi for Rs. 15,000 less Trade Discount 10% and Cash Discount 3% CGST and SGST is levied @ 6% each. Assume payment is made at the time of purchase.
Pass Journal entry for purchase of goods by Amrit, Delhi from Ayur Products, Agra, (UP) for Rs. 25,000 less Trade Discount @ 15% plus IGST @ 12% .
Pass Journal entry for sale of goods by Rahul, Delhi to Anish, Delhi for Rs. 10,000 less 10% Trade Discount and 2% Cash Discount. Assume payment is received at the time of sale. CGST and SGST is levied @ 6% each.
M/s Auto Aid, Delhi purchased 500 pieces of car horns @ Rs. 200 each less 10% Trade Discount plus IGST @ 12% from M/s Auto Horns, Chandigarh. What is the invoice value?
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(Journal Entries Involving Cash Discount). Pass the Journal entries for the following transactions: (i) Purchased goods from Sanjiv of Rs. 40,000 plus IGST @ 18% at 10% Trade Discount and 2.5% Cash Discount. Paid amount at the time of purches itself. (ii) Purchased goods from Vijay of Rs. 40,000 plus IGST @ 18% at 10% Trade Discount and 3% Cash Discount. Half of the amount paid at the time of purchase. (iii) Sold goods to Anil for Rs. 20,000 plus CGST and SGST @ 9% each, allowed him 10% Trade Discount and 3% Cash Discount. Received half of the amount by cash and balance half by cheque immediately. (iv) Sold goods to Ajay for Rs. 50,000 plus CGST and SGST @ 9% each allowing 10% Trade Discount and 2% Cash Discount. Half of the amount received by cheque immediately. (v) Sold goods costing Rs. 40,000 to Anil against a currect dated cheque at a profit of 25% on cost less 20% trade discount plus IGST @ 18% . Cash discount is allowed @ 2% .
Journalise the following transactions in the books of Mohan, Delhi: (i) Raj of Alwar, Rajasthan who owed Mohan Rs. 25,000 became insolvent and received 60 paise in a ruee as full and final settlement. (ii) Mohan owes to his landlord Rs. 10,000 as rent. (iii) Charge depreciation of 10% on furniture costing Rs. 50,000. (iv) Salaries due to employees Rs. 20,000. (v) Sold to Sunil goods in cash of Rs. 10,000 less 10% trade discount plus CGST and SGST @ 6% each and received a net of Rs. 8,500. (vi) Provided interest on capital of Rs. 1,00,000 @ 10% per annum. (vii) Goods lost in theft Rs. 5,000, which were purchased paying IGST @ 12% from Alwar, Rajasthan.
M/s Vaish Traders, Delhi purchased 500 Parker Pens @ Rs. 200 each less Trade Discount @ 15% from Luxor Pens Ltd., Delhi. CGST and SGST was levied @ 6% each. Further, Cash Discount was allowed @ 5% as the payment was made within specified time. What will be the amount of trade discount and cash discount?
TS GREWAL-JOURNAL-EVALUATION QUESTIONS: QUESTIONS WITH MISSING VALUES
