1.

Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakesh): 2018 Jan 1 Jan 2 Jan 5 Jan 7 Jan 10 Jan 15 Jan 20 Jan 25 Jan 27 Jan 28 Jan 31 Jan 31 Rakesh commenced business with cash Purchased goods for cash Purchased goods from Mohan, Delhi on credit Opened bank account with Bank of India Purchased furniture for office Sold goods for cash Sold goods to Ram, Delhi on credit Cash sales Paid to Mohan on account Ram returns goods Paid Salaries Rejected and returned 10% of goods supplied by Mohan ₹ 50,000 10,000 6,000 10,000 2,000 8,000 5,000 3,500 3,000 500 9,000 CGST and SGST is levied 6% each on intra-state sale and purchase. IGST is levied 12% on inter-state sale and purchase.

Answer» Journalise the following transactions of Rakesh Agencies, Delhi (Proprietor Shri Rakesh):








2018

Jan 1

Jan 2

Jan 5

Jan 7

Jan 10

Jan 15

Jan 20

Jan 25

Jan 27

Jan 28

Jan 31

Jan 31

Rakesh commenced business with cash

Purchased goods for cash

Purchased goods from Mohan, Delhi on credit

Opened bank account with Bank of India

Purchased furniture for office

Sold goods for cash

Sold goods to Ram, Delhi on credit

Cash sales

Paid to Mohan on account

Ram returns goods

Paid Salaries

Rejected and returned 10% of goods supplied by Mohan		 ₹
50,000

10,000

6,000

10,000

2,000

8,000

5,000

3,500

3,000

500

9,000


CGST and SGST is levied 6% each on intra-state sale and purchase. IGST is levied 12% on inter-state sale and purchase.


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