Journalise the following transactions in the books of Shri Manoj, Kolkata and prepare Ledger Accounts.Opening Debit Balances:Cash in Hand ₹ 15,000; Cash at Bank ₹ 55,000; Stock ₹ 28,000; Debtors ₹ 25,000 (Sunil ₹ 5,000; Abhay ₹ 10,000 and Alok ₹ 10,000); Fixed Assets : Computer and Printer ₹ 50,000; Furniture ₹ 10,000; Delivery Van ₹ 25,000.Opening Credit Balances:Bank Loan ₹ 90,000; Salaries Outstanding ₹ 15,000; Creditors ₹ 20,000; Bills Payable ₹ 10,000; Capital ₹ 73,000.Transactions for the month of April, 2018 were :(i) Purchased goods from M/s Prabhat Electricals ₹ 10,000 less 10% Trade Discount. Cheque was issued immediately and availed 2% Cash Discount on purchase price.(ii) Cheque was received from Abhay for the balance allowing him discount of 2%*.(iii) Cheque was received from Alok for the balance due* .(iv) Sunil was unable to pay the full dues and offered to pay 75%, which was accepted. Cheque was duly received*.(v) Gave goods costing ₹ 1,000 as charity. These goods were purchased in Kolkata.(vi) In a competition held by the RWA where the shop is located an electric iron costing ₹ 500 was given as an award. It had been purchased from Prabhat Electricals, Delhi.(vii) A debt of ₹ 10,000 that was written off as bad debt in the past was received*.(viii) Salaries amounting to ₹ 15,000 provided in the books for the month of March, 2018 were paid through cheque*.(ix) Sales for the month were: Cash Sales ₹ 15,00,000 (Intra-state) and Credit Sales ₹ 3,00,000 (Inter-state).(x) Purchases for the month were: Cash Purchases ₹ 1,00,000 (Intra-state) and Credit Purchases (Inter-state) ₹ 9,00,000.Cheques Received from Debtors ₹ 2,00,000; Deposited Cash ₹ 15,00,000.(xi) Paid to creditors through cheques ₹ 8,90,000*.(xii) Bank Loan repaid during the month ₹ 20,000*.Inter-state transactions are subject to levy of IGST 12% and Intra-state transactions are subject to levy of CGST and SGST 6% each. GST is not levied on transactions marked with (*).

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Journalise the following transactions in the books of Shri Manoj, Kolkata and prepare Ledger Accounts.Opening Debit Balances:Cash in Hand ₹ 15,000; Cash at Bank ₹ 55,000; Stock ₹ 28,000; Debtors ₹ 25,000 (Sunil ₹ 5,000; Abhay ₹ 10,000 and Alok ​₹ 10,000); Fixed Assets : Computer and Printer ₹ 50,000; Furniture ₹ 10,000; Delivery Van ₹ 25,000.Opening Credit Balances:Bank Loan ₹ 90,000; Salaries Outstanding ₹ 15,000; Creditors ₹ 20,000; Bills Payable ₹ 10,000; Capital ₹ 73,000.Transactions for the month of April, 2018 were :(i) Purchased goods from M/s Prabhat Electricals ₹ 10,000 less 10%  Trade Discount. Cheque was issued immediately and availed 2% Cash Discount on purchase price.(ii) Cheque was received from Abhay for the balance allowing him discount of 2%*.(iii) Cheque was received from Alok for the balance due* .(iv) Sunil was unable to pay the full dues and offered to pay 75%, which was accepted. Cheque was duly received*.(v) Gave goods costing ₹ 1,000 as charity. These goods were purchased in Kolkata.(vi) In a competition held by the RWA where the shop is located an electric iron costing ₹ 500 was given as an award. It had been purchased from Prabhat Electricals, Delhi.(vii) A debt of ₹ 10,000 that was written off as bad debt in the past was received*.(viii) Salaries amounting to ₹ 15,000 provided in the books for the month of March, 2018 were paid through cheque*.(ix) Sales for the month were: Cash Sales ₹ 15,00,000 (Intra-state) and Credit Sales ₹ 3,00,000 (Inter-state).(x) Purchases for the month were: Cash Purchases ₹ 1,00,000 (Intra-state) and Credit Purchases (Inter-state) ₹ 9,00,000.Cheques Received from Debtors ₹ 2,00,000; Deposited Cash ₹ 15,00,000.(xi) Paid to creditors through cheques ₹ 8,90,000*.(xii) Bank Loan repaid during the month ₹ 20,000*.Inter-state transactions are subject to levy of IGST  12% and Intra-state transactions are subject to levy of CGST and SGST  6% each. GST is not levied on transactions marked with (*).

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1.	Journalise the following transactions in the books of Shri Manoj, Kolkata and prepare Ledger Accounts.Opening Debit Balances:Cash in Hand ₹ 15,000; Cash at Bank ₹ 55,000; Stock ₹ 28,000; Debtors ₹ 25,000 (Sunil ₹ 5,000; Abhay ₹ 10,000 and Alok ₹ 10,000); Fixed Assets : Computer and Printer ₹ 50,000; Furniture ₹ 10,000; Delivery Van ₹ 25,000.Opening Credit Balances:Bank Loan ₹ 90,000; Salaries Outstanding ₹ 15,000; Creditors ₹ 20,000; Bills Payable ₹ 10,000; Capital ₹ 73,000.Transactions for the month of April, 2018 were :(i) Purchased goods from M/s Prabhat Electricals ₹ 10,000 less 10% Trade Discount. Cheque was issued immediately and availed 2% Cash Discount on purchase price.(ii) Cheque was received from Abhay for the balance allowing him discount of 2%.(iii) Cheque was received from Alok for the balance due .(iv) Sunil was unable to pay the full dues and offered to pay 75%, which was accepted. Cheque was duly received.(v) Gave goods costing ₹ 1,000 as charity. These goods were purchased in Kolkata.(vi) In a competition held by the RWA where the shop is located an electric iron costing ₹ 500 was given as an award. It had been purchased from Prabhat Electricals, Delhi.(vii) A debt of ₹ 10,000 that was written off as bad debt in the past was received.(viii) Salaries amounting to ₹ 15,000 provided in the books for the month of March, 2018 were paid through cheque.(ix) Sales for the month were: Cash Sales ₹ 15,00,000 (Intra-state) and Credit Sales ₹ 3,00,000 (Inter-state).(x) Purchases for the month were: Cash Purchases ₹ 1,00,000 (Intra-state) and Credit Purchases (Inter-state) ₹ 9,00,000.Cheques Received from Debtors ₹ 2,00,000; Deposited Cash ₹ 15,00,000.(xi) Paid to creditors through cheques ₹ 8,90,000.(xii) Bank Loan repaid during the month ₹ 20,000.Inter-state transactions are subject to levy of IGST 12% and Intra-state transactions are subject to levy of CGST and SGST 6% each. GST is not levied on transactions marked with ().
Answer» Journalise the following transactions in the books of Shri Manoj, Kolkata and prepare Ledger Accounts. Opening Debit Balances: Cash in Hand ₹ 15,000; Cash at Bank ₹ 55,000; Stock ₹ 28,000; Debtors ₹ 25,000 (Sunil ₹ 5,000; Abhay ₹ 10,000 and Alok ₹ 10,000); Fixed Assets : Computer and Printer ₹ 50,000; Furniture ₹ 10,000; Delivery Van ₹ 25,000. Opening Credit Balances: Bank Loan ₹ 90,000; Salaries Outstanding ₹ 15,000; Creditors ₹ 20,000; Bills Payable ₹ 10,000; Capital ₹ 73,000. Transactions for the month of April, 2018 were : (i) Purchased goods from M/s Prabhat Electricals ₹ 10,000 less 10% Trade Discount. Cheque was issued immediately and availed 2% Cash Discount on purchase price. (ii) Cheque was received from Abhay for the balance allowing him discount of 2%. (iii) Cheque was received from Alok for the balance due . (iv) Sunil was unable to pay the full dues and offered to pay 75%, which was accepted. Cheque was duly received. (v) Gave goods costing ₹ 1,000 as charity. These goods were purchased in Kolkata. (vi) In a competition held by the RWA where the shop is located an electric iron costing ₹ 500 was given as an award. It had been purchased from Prabhat Electricals, Delhi. (vii) A debt of ₹ 10,000 that was written off as bad debt in the past was received. (viii) Salaries amounting to ₹ 15,000 provided in the books for the month of March, 2018 were paid through cheque. (ix) Sales for the month were: Cash Sales ₹ 15,00,000 (Intra-state) and Credit Sales ₹ 3,00,000 (Inter-state). (x) Purchases for the month were: Cash Purchases ₹ 1,00,000 (Intra-state) and Credit Purchases (Inter-state) ₹ 9,00,000. Cheques Received from Debtors ₹ 2,00,000; Deposited Cash ₹ 15,00,000. (xi) Paid to creditors through cheques ₹ 8,90,000. (xii) Bank Loan repaid during the month ₹ 20,000. Inter-state transactions are subject to levy of IGST 12% and Intra-state transactions are subject to levy of CGST and SGST 6% each. GST is not levied on transactions marked with ().