1.

Journalise the following transactions in the books of Manoj Store:(i) Purchased goods from Ramesh ₹ 20,000 less Trade Discount at 20% plus IGST 12% .(ii) Sold goods costing ₹ 7,000 to Krishna for ₹ 9,000 plus IGST 12%.(iii) Sold goods for ₹ 10,000 and charged IGST 12% against cheque.(iv) ₹ 5,000 were deposited into Savings Account.(v) Machinery costing ₹ 4,00,000 for which order was placed earlier paying advance of ₹ 40,000. The balance amount was paid as follows: (a) An old machine (personal) valued at ₹ 30,000 was given in exchange; (b) Issued a cheque from his savings account for ₹ 1,30,000; and (c) Balance by issue cheque from firm's bank account.(vi) Paid wages ₹ 2,500 for installation of machine.

Answer» Journalise the following transactions in the books of Manoj Store:

(i) Purchased goods from Ramesh ₹ 20,000 less Trade Discount at 20% plus IGST 12% .

(ii) Sold goods costing ₹ 7,000 to Krishna for ₹ 9,000 plus IGST 12%.

(iii) Sold goods for ₹ 10,000 and charged IGST 12% against cheque.

(iv) ₹ 5,000 were deposited into Savings Account.

(v) Machinery costing ₹ 4,00,000 for which order was placed earlier paying advance of ₹ 40,000. The balance amount was paid as follows:

(a) An old machine (personal) valued at ₹ 30,000 was given in exchange;

(b) Issued a cheque from his savings account for ₹ 1,30,000; and

(c) Balance by issue cheque from firm's bank account.

(vi) Paid wages ₹ 2,500 for installation of machine.


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