Q.

11 Solution: In the books of R. Singh & Co. Kanpur (UP)

JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
2018
July 1 Cash A/c ...Dr. 80,000
To Capital A/c 80,000
(Being the business started with cash)
July 1 Bank A/c ...Dr. 50,000
To Cash A/c 50,000
(Being the cash paid into bank)
July 1 Stationery A/c ...Dr. 300
Input CGST A/c ...Dr. 18
Input SGST A/c ...Dr. 18
To Cash A/c 336
(Being the stationery purchased and CGST and SGST paid @ 6%)
July 2 Purchases A/c ...Dr. 21,000
Input CGST A/c ...Dr. 1,260
Input SGST A/c ...Dr. 1,260
To Cash A/c 23,520
(Being the goods purchased and CGST and SGST @ 6% also paid)
July 5 Cash A/c ...Dr. 8,400
To Sales A/c 7,500
To Output CGST A/c 450
To Output SGST A/c 450
(Being the goods sold for cash charging CGST and SGST @ 6%)
July 6 Furniture A/c ...Dr. 5,000
Input CGST A/c ...Dr. 300
Input SGST A/c ...Dr. 300
To Banerjee Bros. 5,600
(Being the furniture purchased on credit, CGST and SGST payable @ 6%)
July 11 Mahendra ...Dr. 11,200
To Sales A/c 10,000
To Output CGST A/c 600
To Output SGST A/c 600
(Being the goods sold to Mahendra charging CGST and SGST @ 6%)
July 12 Bank A/c ...Dr. 11,200
To Mahendra 11,200
(Being the cheque received from Mahendra)
July 16 Ramesh & Co. ...Dr. 5,600
To Sales A/c 5,000
To Output CGST A/c 300
To Output SGST A/c 300
(Being the goods sold on credit charging CGST and SGST @ 6%)

1
July 20 Purchases A/c ...Dr. 20,000
Input IGST A/c ...Dr. 2,400
To S. Seth & Bros. 22,400
(Being the goods purchased on credit, IGST payable @ 12%)
July 23 Purchases A/c ...Dr. 2,250
Input IGST A/c ...Dr. 270
To Cash A/c 2,520
(Being the goods purchased paying IGST @ 12%)
July 26 Cash A/c ...Dr. 2,500
To Ramesh & Co. 2,500
(Being the amount received from Ramesh & Co.)
July 28 S. Seth & Bros. ...Dr. 22,400
To Bank A/c 22,000
To Discount Received A/c 400
(Being the amount paid to S. Seth & Bros. and discount received)
July 31 Rent A/c ...Dr. 1,000
To Outstanding Rent A/c 1,000
(Being the rent due but not yet paid)

Q.12 Solution: In the books of Ashoka Furniture Traders, Ludhiana (Punjab)

JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
2019
Jan. 1 Cash A/c ...Dr. 50,000
To Capital A/c 50,000
(Being the business started with cash)
Jan. 2 Bank A/c ...Dr. 3,50,000
To Capital A/c 3,50,000
(Being the current account opened by personal cheque)
Jan. 10 Machinery A/c ...Dr. 1,00,000
Input CGST A/c ...Dr. 6,000
Input SGST A/c ...Dr. 6,000
To Bank A/c 1,12,000
(Being the machinery purchased paying CGST and SGST @ 6%)
Jan. 15 Machinery A/c ...Dr. 2,000
To Cash A/c 2,000
(Being the wages paid for installation of machinery)
Jan. 20 Purchases A/c ...Dr. 18,000
Input CGST A/c ...Dr. 1,080
Input SGST A/c ...Dr. 1,080
To Singh & Co. 20,160
(Being the goods purchased on credit, CGST and SGST payable @ 6%)
Jan. 25 Furniture and Fixtures A/c ...Dr. 5,000
To Purchases A/c 5,000
(Being the timber used for furnishing the office)
Jan. 31 Rakesh ...Dr. 10,080
To Sales A/c 9,000
To Output CGST A/c 540
To Output SGST A/c 540
(Being the good sold and charged CGST and SGST @ 6%)

2
Feb. 10 Singh & Co. ...Dr. 20,160
To Bank A/c 20,000
To Discount Received A/c 160
(Being the amount paid to Singh & Co. in full settlement)
Feb. 15 Cash A/c ...Dr. 10,000
Discount Allowed A/c ...Dr. 80
To Rakesh 10,080
(Being the cash received and discount allowed)
Feb. 20 Wages A/c ...Dr. 15,000
To Cash A/c 15,000
(Being the wages paid in cash)
Feb. 28 Rent A/c ...Dr. 5,000
Input CGST A/c ...Dr. 300
Input SGST A/c ...Dr. 300
To Bank A/c 5,600
(Being the rent paid through cheque, CGST and SGST also paid)

Q.13 Solution: `
Purchase Price (500 × ` 200) 1,00,000
Less: 10% Trade Discount 10,000
90,000
Add: 12% IGST 10,800
Invoice Value 1,00,800

Q.14 Solution: `
Purchase Price (500 × ` 200) 1,00,000
Less: 15% Trade Discount 15,000
85,000
Add: 6% CGST 5,100
6% SGST 5,100
95,200
Less: 5% Cash Discount 4,760
Invoice Value 90,440
So, Trade Discount = ` 15,000
Cash Discount = ` 4,760

Q.15 Solution: `
Purchase Price (500 × ` 100) 50,000
Less: 10% Trade Discount 5,000
45,000
Add: 12% IGST 5,400
Invoice Value 50,400
5% Cash Discount (Not allowed) as payment is made after stipulated time.
3
Q.16 Solution: JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
Ajay ...Dr. 5,000
To Bank A/c 4,800
To Discount Received A/c 200
(Being the payment made to Ajay and discount received)

Q.17 Solution: JOURNAL

Date Particulars L.F. Dr. (`) Cr. (`)
Cash/Bank A/c ...Dr. 9,878
Discount Allowed A/c ...Dr. 202
To Sales A/c 9,000
To Output CGST A/c 540
To Output SGST A/c 540
(Being the goods sold for cash and discount allowed charging CGST and
SGST @ 6% each)

Q.18 Solution: JOURNAL

Date Particulars L.F. Dr. (`) Cr. (`)
Purchases A/c ...Dr. 21,250
Input IGST A/c ...Dr. 2,550
To Ayur Products 23,800
(Being the goods purchased from Ayur Products and paid 12% IGST)

Q.19 Solution: JOURNAL

Date Particulars L.F. Dr. (`) Cr. (`)
Purchases A/c ...Dr. 13,500
Input CGST A/c ...Dr. 810
Input SGST A/c ...Dr. 810
To Cash/Bank A/c 14,666
To Discount Received A/c 454
(Being the goods purchased, paid CGST and SGST @ 6% and
discount received)

Q.20 Solution: In the Books of Mittal Cycles

JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
(i) Purchases A/c ...Dr. 1,08,000
Input IGST A/c ...Dr. 12,960
To Hero Cycles 1,20,960
(Being the cycles purchased from Hero Cycles, IGST payable @ 12%)
(ii) Hero Cycles ...Dr. 12,096
To Purchases Return A/c 10,800
To Input IGST A/c 1,296
(Being the cycles returned and Input IGST reversed)
(iii) Hero Cycles ...Dr. 1,08,864
To Bank/Cash A/c 1,05,598
To Discount Received A/c 3,266
(Being the payment made to Hero Cycles and discount availed)

4
Q.21 Solution: In the Books of Oswal Woollen Mills
JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)

2019
Jan. 4 Gupta Shawls ...Dr. 16,800
To Sales A/c 15,000
To Output IGST A/c 1,800
(Being the goods sold to Gupta Shawls, charged IGST @ 12%)

Jan. 14 Cash A/c ...Dr. 8,400

To Gupta Shawls 8,400
(Being the half payment received)

Feb. 10 Cash A/c ...Dr. 8,400

To Gupta Shawls 8,400
(Being the balance 50% payment received)
Note: Gupta Shawls will not get cash discount as full payment is not made by it within 14 days.

Q.22 Solution: In the Books of Ashok

JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)

(i) Cash A/c ...Dr. 11,700

Discount Allowed A/c ...Dr. 300
To Hari Krishan 12,000
(Being the amount received in full settlement from Hari Krishan and
discount allowed)

(ii) Cash A/c ...Dr. 11,700

To Shyam 11,700
(Being the amount received from Shyam)

(iii) Cash A/c ...Dr. 4,900

Bad Debts A/c ...Dr. 2,100
To Rajagopal 7,000
(Being 70 paise in a rupee received from Rajagopal who owed
` 7,000)

(iv) A.K. Mandal ...Dr. 3,000

To Cash A/c 2,880
To Discount Received A/c 120
(Being payment made in full settlement to A.K. Mandal of his account
for ` 3,000 and discount availed)

(v) S.K. Gupta ...Dr. 2,880

To Cash A/c 2,880
(Being ` 2,880 paid to S.K. Gupta on his account for ` 3,000)

5
Q.23 Solution: In the Books of Suresh
JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
2019
April 1 Bank A/c ...Dr. 60,000
To Capital A/c 60,000
(Being the amount invested into business)
April 2 Purchases A/c ...Dr. 24,000
Input CGST A/c ...Dr. 1,440
Input SGST A/c ...Dr. 1,440
To Bank A/c 26,880
(Being the goods purchased and paid by cheque)
April 3 Mukand & Co. ...Dr. 7,504
To Sales A/c 6,700
To Output CGST A/c 402
To Output SGST A/c 402
(Being the goods sold to Mukand & Co., Delhi)
April 4 Cash A/c ...Dr. 12,208
To Sales A/c 10,900
To Output CGST A/c 654
To Output SGST A/c 654
(Being the goods sold for cash)
April 5 Sundry Expenses A/c ...Dr. 3,000
To Cash A/c 3,000
(Being the sundry expenses paid in cash)
April 8 Furniture and Fittings A/c ...Dr. 4,000
Input CGST A/c ...Dr. 240
Input SGST A/c ...Dr. 240
To Bank A/c 4,480
(Being the office furniture and fittings purchased by cheque)
April 9 Purchases A/c ...Dr. 10,600
Input IGST A/c ...Dr. 1,272
To Ramesh & Bros. 11,872
(Being the goods purchased from Ramesh & Bros. Faridabad)
April 11 Ramesh & Bros. ...Dr. 1,680
To Purchases Return A/c 1,500
To Input IGST A/c 180
(Being the goods returned to Ramesh & Bros.)
April 12 Ramesh & Bros. ...Dr. 10,192
To Bank A/c 9,500
To Discount Received A/c 692
(Being the cheque issued to Ramesh & Bros. in full settlement)
April 30 Bank Interest A/c ...Dr. 200
To Bank A/c 200
(Being the interest charged by bank)

6
April 30 Bank A/c ...Dr. 50,000
To Loan from Ridhi A/c 50,000
(Being the amount borrowed from Ridhi)
April 30 Bank A/c ...Dr. 6,000
To Mahendra 6,000
(Being the amount received from Mahendra)
April 30 Cash A/c ...Dr. 2,000
To Capital A/c 2,000
(Being the household furniture sold and amount invested into business)
April 30 Cash A/c ...Dr. 5,376
To Sales A/c 4,800
To Output CGST A/c 288
To Output SGST A/c 288
(Being the goods sold for cash at a profit of 20% on cost, less 20%
trade discount)
April 30 Sunil ...Dr. 22,550
To Sales A/c 20,000
To Output CGST A/c 1,200
To Output SGST A/c 1,200
To Cash A/c 150
(Being the goods sold to Sunil and cartage to be charged from him)

Q.24 Solution: In the Books ...

JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
2019
April 1 Bank A/c ...Dr. 21,000
To Cash A/c 21,000
(Being the cash paid into bank to open Current Account)
April 2 Drawings A/c ...Dr. 5,000
To Cash A/c 5,000
(Being the cash withdrawn for personal use)
April 4 Cash A/c ...Dr. 3,000
To Bank A/c 3,000
(Being the cash withdrawn from bank)
April 5 Bank Fixed Deposit A/c ...Dr. 5,000
To Bank A/c 5,000
(Being the fixed deposit made by transfer from Current Account)
April 10 Cheques-in-Hand A/c ...Dr. 2,940
Discount Allowed A/c ...Dr. 60
To Shiv & Co. 3,000
(Being the cheque received from Shiv & Co. and discount allowed to him)
April 14 Bank A/c ...Dr. 2,940
To Cheques-in-Hand A/c 2,940
(Being the cheque deposited into bank)
April 16 Shiv & Co. ...Dr. 3,010
To Bank A/c 2,950
To Discount Allowed A/c 60
(Being the cheque dishonoured and bank charges charged by bank)
April 17 Bank A/c ...Dr. 3,000
Discount Allowed A/c ...Dr. 50
To Shiv & Co. 3,010
To Interest A/c 40
(Being Shiv & Co. settled his account by means of a cheque)

7
Q.25 Solution: In the Books of Amit Saini
JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)

(i) Drawings A/c ...Dr. 5,600

To Purchases A/c 5,000
To Input CGST A/c 300
To Input SGST A/c 300
(Being the goods taken by owner for personal use and GST paid reversed)

(ii) Bad Debts A/c ...Dr. 2,000

To Sohan 2,000
(Being the amount due to Sohan becomes bad debt)

(iii) Loss of Goods by Fire A/c ...Dr. 6,720

To Purchases A/c 6,000
To Input CGST A/c 360
To Input SGST A/c 360
(Being the goods lost by fire and GST reversed)

(iv) Machinery A/c ...Dr. 4,000

To Cash A/c 4,000
(Being the wages paid for installation of machinery)

(v) Cash A/c ...Dr. 19,152

Discount Allowed A/c ...Dr. 1,008
To Sales A/c 18,000
To Output IGST A/c 2,160
(Being the goods sold for cash and discount received)

(vi) Cash A/c ...Dr. 2,000

To Bad Debts Recovered A/c 2,000
(Being the debt recovered which was written-off as irrecoverable last year)

(vii) Donation/Charity A/c ...Dr. 1,120

To Purchases A/c 1,000
To Input CGST A/c 60
To Input SGST A/c 60
(Being the goods given as charity and GST reversed)

(viii ) Cash A/c ...Dr. 9,750

Discount Allowed A/c ...Dr. 250
To Ramesh 10,000
(Being the amount received in full settlement from Ramesh)

(ix) Prepaid Rent A/c ...Dr. 4,000

Input CGST A/c ...Dr. 240
Input SGST A/c ...Dr. 240
To Cash A/c 4,480
(Being the rent paid in advance)

8
Q.26 Solution: In the Books of Mohan
JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
(i) Cash A/c ...Dr. 15,000
Bad Debts A/c ...Dr. 10,000
To Raj 25,000
(Being the cash received from Raj)
(ii) Rent A/c ...Dr. 10,000
To Outstanding Rent A/c 10,000
(Being the rent due but not paid)
(iii) Depreciation A/c ...Dr. 5,000
To Furniture A/c 5,000
(Being the depreciation charged on furniture)
(iv) Salaries A/c ...Dr. 20,000
To Outstanding Salaries A/c 20,000
(Being the salaries due but not paid)
(v) Cash A/c ...Dr. 8,500
Discount Allowed A/c ...Dr. 1,580
To Sales A/c 9,000
To Output CGST A/c 540
To Output SGST A/c 540
(Being the goods sold for cash and discount allowed to him)
(vi) Interest on Capital A/c ...Dr. 10,000
To Capital A/c 10,000
(Being the interest on capital provided)
(vii ) Loss of Stock by Theft A/c ...Dr. 5,600
To Purchases A/c 5,000
To Input IGST A/c 600
(Being the goods lost by theft and GST reversed)

Q.27 Solution: In the Books of Puneet

JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
(i) No entry
(ii) Bank A/c ...Dr. 25,000
To Advance against Sales A/c 25,000
(Being the cheque received in advance for order)
(iii) Outstanding Salary A/c ...Dr. 40,000
To Cash A/c 40,000
(Being the outstanding salary paid)
(iv) (a) Bharat ...Dr. 11,200
To Sales A/c 10,000
To Output IGST A/c 1,200
(Being the goods sold to Bharat)
(b) Sales Return A/c ...Dr. 2,000
Output IGST A/c ...Dr. 240
To Bharat 2,240
(Being the goods returned to Bharat)

9
 (v) Feroz ...Dr. 20,000
To Bank A/c 20,000
(Being the cheque dishonoured and amount receivable from Feroz)

(vi) Cash A/c ...Dr. 8,000

Bad Debts A/c ...Dr. 12,000
To Feroz 20,000
(Being the amount received from Feroz and bad debts recorded)

(vii) Cheques-in-Hand A/c ...Dr. 25,000

To Mohan 25,000
(Being the cheque received from Mohan after banking hours)

(viii) (a) Purchases A/c ...Dr. 10,000

Input IGST A/c ...Dr. 1,200
To Barun 11,200
(Being the goods purchased from Barun)
(b) Arun ...Dr. 22,400
To Sales A/c 20,000
To Output IGST A/c 2,400
(Being the goods sold to Arun)

(ix) (a) Sales Return A/c ...Dr. 6,000

Output IGST A/c ...Dr. 720
To Arun 6,720
(Being the goods returned by Arun)

(b) Barun ...Dr. 3,360

To Purchases Return A/c 3,000
To Input IGST A/c 360
(Being the goods returned to Barun)

(x) ABC & Co. ...Dr. 2,24,000

To Sales A/c 2,00,000
To Output IGST A/c 24,000
(Being the goods sold to ABC & Co.)
Note: Since we are preparing the books of Puneet so record all the entries
related to Puneet only and ABC & Co. purchased goods from Puneet so
he is his debtor and in this question it is not mentioned that the transaction
is in cash so it is credit transaction.

(xi) Insurance A/c ...Dr. 12,000

Input CGST A/c ...Dr. 720
Input SGST A/c ...Dr. 720
To Cash A/c 13,440
(Being the insurance paid in cash)

(xii) Cash A/c ...Dr. 1,00,000

To Capital A/c 1,00,000
(Being the personal car sold and amount invested in the business)

10
 (xiii ) (a) Loss of Goods by Fire A/c ...Dr. 1,12,000
To Purchases A/c 1,00,000
To Input CGST A/c 6,000
To Input SGST A/c 6,000
(Being the goods lost by fire and GST reversed)
(b) Insurance Company A/c ...Dr. 1,12,000
To Loss of Goods by Fire A/c 1,12,000
(Being the claim lodged to Insurance company)
(c) Bank A/c ...Dr. 75,000
Loss of Goods by Fire A/c (Profit and Loss A/c) ...Dr. 37,000
To Insurance Company 1,12,000
(Being the amount paid by Insurance Company and loss recorded)
(xiv) (a) Machinery A/c ...Dr. 50,000
Input IGST A/c ...Dr. 6,000
To Cash A/c 56,000
(Being the machinery purchased)
(b) Machinery A/c ...Dr. 5,000
To Cash A/c 5,000
(Being the cartage paid in cash)
(c) Machinery A/c ...Dr. 10,000
To Cash A/c 10,000
(Being the installation charges paid in cash)
(xv) Bank A/c ...Dr. 49,392
Discount Allowed A/c ...Dr. 1,008
To Sales A/c 45,000
To Output CGST A/c 2,700
To Output SGST A/c 2,700
(Being the goods sold and discount allowed)
(xvi) Machinery A/c ...Dr. 50,000
Bank Charges A/c ...Dr. 500
To Bank A/c 50,500
(Being the machinery purchased and payment made through draft)

Q.28 Solution: In the Books of D. Chadha

JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
2019
Jan. 1 Cash A/c ...Dr. 25,000
To Capital A/c 25,000
(Being the business started with cash)
Jan. 2 Bank A/c ...Dr. 2,25,000
To Savings A/c 2,25,000
(Being the bank account opened)
Jan. 3 Purchases A/c ...Dr. 54,000
Input CGST A/c ...Dr. 3,240
Input SGST A/c ...Dr. 3,240
To Ramesh & Co. 60,480
(Being the goods purchased on credit)

11
Jan. 3 Rajesh ...Dr. 67,200
To Sales A/c 60,000
To Output CGST A/c 3,600
To Output SGST A/c 3,600
(Being the goods sold on credit)

Jan. 7 Purchases A/c ...Dr. 65,000

Input IGST A/c ...Dr. 7,800
To Rahul 72,800
(Being the goods purchased on credit)

Jan. 8 Wages A/c ...Dr. 8,000

To Cash A/c 8,000
(Being the wages paid)

Jan. 8 Mahesh ...Dr. 67,200

To Sales A/c 60,000
To Output IGST A/c 7,200
(Being the goods sold on credit)

Jan. 10 Bank A/c ...Dr. 66,000

Discount Allowed A/c ...Dr. 1,200
To Rajesh 67,200
(Being the cheque received and discount allowed)

Jan. 11 Ramesh & Co. ...Dr. 54,000

To Cash A/c 51,300
To Discount Received A/c 2,700
(Being the payment made and discount received)

Jan. 12 Rent A/c ...Dr. 45,000

Input CGST A/c ...Dr. 2,700
Input SGST A/c ...Dr. 2,700
To Cash A/c 50,400
(Being the rent paid)

Jan. 15 Office Expenses A/c ...Dr. 700

To Cash A/c 700
(Being the expenses paid)

Jan. 21 Rakesh ...Dr. 28,000

To Sales A/c 25,000
To Output CGST A/c 1,500
To Output SGST A/c 1,500
(Being the goods sold on credit)

Jan. 22 Office Expenses A/c ...Dr. 500

To Cash A/c 500
(Being the expenses paid)

Jan. 22 Rahul ...Dr. 64,500

To Bank A/c 61,300
To Discount Received A/c 3,200
(Being the payment made)

12
Jan. 25 Bank A/c ...Dr. 65,700
Discount Allowed A/c ...Dr. 1,500
To Mahesh 67,200
(Being the payment received)

Jan. 27 Sales Return A/c ...Dr. 2,000

Output CGST A/c ...Dr. 120
Output SGST A/c ...Dr. 120
To Rakesh 2,240
(Being the goods returned by Rakesh and GST reversed)

Jan. 31 Salaries A/c ...Dr. 20,000

To Cash A/c 20,000
(Being the salaries paid)

Q.29 Solution: In the Books of Manoj Store

JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)

(i) Purchases A/c ...Dr. 16,000

Input IGST A/c ...Dr. 1,920
To Ramesh 17,920
(Being the goods purchased from Ramesh)

(ii) Krishna ...Dr. 10,080

To Sales A/c 9,000
To Output IGST A/c 1,080
(Being the goods sold to Krishna)

(iii) Bank A/c ...Dr. 11,200

To Sales A/c 10,000
To Output IGST A/c 1,200
(Being the goods sold through cheque)

(iv) Drawings A/c ...Dr. 5,000

To Cash A/c 5,000
(Being the amount deposited into Savings Account)

(v) Machinery A/c ...Dr. 4,00,000

To Capital A/c 1,60,000
To Bank A/c 2,00,000
To Advance for Machinery A/c 40,000
(Being the machinery purchased and payment made)

(vi) Machinery A/c ...Dr. 2,500

To Cash A/c 2,500
(Being the wages paid for installation of machinery)

13
Q.30 Solution: JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)

2019
April 1 Cash A/c ...Dr. 11,200
Bank A/c ...Dr. 2,57,600
Bills Receivable A/c ...Dr. 68,800
Jai Ram ...Dr. 16,000
Ram Kumar ...Dr. 48,080
Office Furniture A/c ...Dr. 52,800
Stock A/c ...Dr. 4,16,000
To Doulat Ram 1,74,720
To Hari Ram 2,16,960
To Bills Payable A/c 80,000
To Capital A/c (Balancing Figure) 3,98,800
(Being the opening entry passed)

Q.31 Solution: JOURNAL

Date Particulars L.F. Dr. (`) Cr. (`)

2019
April 1 Stock A/c ...Dr. 2,88,000
Bank A/c ...Dr. 2,16,000
Plant and Machinery A/c ...Dr. 1,20,000
Debtors A/c ...Dr. 60,000
Investment A/c ...Dr. 2,40,000
To Bills Payable A/c 48,000
To Creditors A/c 96,000
To Loan from Suresh 1,80,000
To Capital A/c 6,00,000
(Being the opening entry passed)

Q.32 Solution: JOURNAL

Date Particulars L.F. Dr. (`) Cr. (`)

2019
April 1 Land and Building A/c ...Dr. 1,50,000
Plant and Machinery A/c ...Dr. 2,50,750
Chandra & Sons A/c ...Dr. 71,270
Closing Stock A/c ...Dr. 56,250
Cash A/c ...Dr. 15,700
Bank A/c ...Dr. 75,250
Input CGST A/c ...Dr. 5,000
To Capital A/c 5,65,230
To Salary Payable A/c 15,000
To Magic Trades 27,220
To Babbar & Co. 11,770
To Output SGST A/c 5,000
(Being the opening entry passed)

14