Scribd
Upload
58 views2 pages

GST 1st Class & Sunrise Ques

Uploaded by

Riddhi Sharma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
58 views2 pages

GST 1st Class & Sunrise Ques

Uploaded by

Riddhi Sharma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

Ques

Ram Kumar started business on April 1, 2017 by introducing Cash ₹ 1,00,000, building ₹ 5,00,000 and
a loan that was borrowed from his friend ₹ 200000. The firm was to deal in furniture
The following transactions took place during the month of April 2017:
April, 2017 Transactions
2 Bought goods on credit from RM Bros. (200 chairs @ ₹ 250 per chair)
3 Cash sales 20 chairs @ ₹ 400 each
4 Sold to Pankaj on credit 50 chairs @ ₹ 500 each
5 Received from Pankaj in full settlement of his claim ₹ 24500
7 Purchased study tables from Narain 400 tables @ ₹ 300 per table
10 Bought 20 chairs @ ₹ 225 each, for cash
10 Paid Narain ₹ 50000
12 Sold 50 chairs @ ₹ 400 each and 50 study tables @ ₹ 600 each to Swami and allowed
him 10% trade discount
13 Opened a bank account with UTI bank by depositing ₹ 30000
14 Paid wages ₹ 4000 and carriage ₹ 2000
16 Paid rent and rates ₹ 5000 and insurance premium ₹ 3000
17 Withdrew cash for office use ₹ 10000 and for private purpose ₹ 5000
30 Paid electricity bill by cheque ₹ 6000 and salary in cash ₹ 10000
Enter the transactions given above in the books of RK Associated and show
1. Profit and Loss Account (Detailed)
2. Balance Sheet (Detailed)

TALLY WITH GST


Ques 1
Ram purchased goods for ₹ 1,00,000 (1000 Parker Rollerball pens @ ₹ 100 each) from X in Uttar
Pradesh (GSTIN No. 09AAACH7409R1ZZ). He sold 750 of the pens @ ₹ 200 each to Y in the same
state. He paid legal fees for ₹ 5,000. He purchased office furniture for ₹ 12000 from Shyam & Co.
Assume that the CGST and SGST each are 8%.

Ques 2
Mr Mohan in UP (GSTIN No. 09AAACH7409R1ZZ) purchased stationary for ₹ 1,50,000 (100 boxes of
Reynolds Pens@ ₹ 1000/box and 50 packets of Natraj pencils @ ₹ 1000/packet) from Mr. B in MP. He
sold 75 boxes of pens for ₹ 1,50,000 in UP to Mr. D and sold 50 packets of pencils for ₹ 1,00,000 in
Rajasthan to Mr. C. He also paid telephone bills for ₹ 5,000. He purchased air cooler for his office for ₹
12,000 from Mr. E in UP. Assume that the CGST and SGST each are 8%.

Ques 3
The details of Sunrise company located in Delhi (GSTIN- 07AKJPJ8201D1ZH) are as follows:
1. NAME- Your Name (Class Roll No)
2. ADDRESS: your address, your phone & mobile no., your email id.
3. Email id :admin@airwalk.ne.jp
4. Currency symbol: Rs
Enter the following transactions and show reports.
• Purchases and sales of goods, payments to creditors, and receipts from debtors are done
through Union Bank
• Any other payment and receipt are done through State Bank of India or Cash
Balance sheet as on 31.03.2017
Liabilities Amount (₹) Assets Amount (₹)
Capital 4,75,000 Land and Buildings 4,00,000
Reserves and Surplus 1,25,000 Furniture 25,000
Secured loan 50,000 Investment 55,000
Bills Payable 30,000 Machinery 50,000
Debentures 75,000 Bills Receivable 25,000
P/L account 2,00,000 Sundry Debtors 85,000
Provision for doubtful debts 20,000 Union Bank 80,000
Sundry Creditors 25,000 State Bank of India 75,000
Outstanding Rent 15,000 Stock 1,46,500
Outstanding Salary 20,000 Cash in hand 93,500
10,35,000 10,35,000
The list of creditors and debtors is given below:
Creditors Amount (₹) Debtors Amount (₹)
Piyush 10,000 Misha 25,000
Rajesh 7,500 Sruti 30,000
Preeti 7,500 Ankita 30,000
The company deals in the following items (applicable GST rate 18%):
Stock Item Group Rate (₹) Qty Amount(₹)
Titan raga Watch 2200.00 20 44,000
Sonata Wall clock digital Wall clock 1500.00 30 45,000
Mi Band 3 Smartwatch 2000.00 10 20,000
Fastrack Watch 2500.00 15 37,500

Record the following transactions during 2017-2018:


Date Transactions
2.5.2017 Purchases from Piyush (registered dealer in Delhi) goods of list price Rs.1,25,000 less
20 % trade discount (Titan Raga watch, Qty. 50, Rate ₹ 2,500)
3.6.2017 Purchases made by cheque from registerd supplier in Haryana -fastrack qty 10 for
₹.35,000
4.7.2017 Goods purchased from Preeti, registered supplier from Delhi (Mi Band 3, qty.15 for ₹
30,000)
5.8.2017 Sales to Misha from Punjab for cash (Sonata Wall Clock digital, Qty.20 for ₹ 36,000)
6.9.2017 Sales to Ankita (Jaipur), Fastrack-Qty. 10 for ₹ 30,000
7.9.2017 Sales returns by Ankita qty 2
8.11.2017 Interest received from Bank Rs.25,000
9.12.2017 Received from Ankita Rs.22,000 in full settlement of her account (for transaction dated
6th and 7th Sept)
10.01.2018 Received from Sruti by cheque ₹ 28,000
11.02.2018 Purchased machinery for 3,000 and spent Rs.100 for its installation
31.3.2018 Outstanding rent and salary paid in cheque and insurance ₹ 5000 paid for the year 2018-
19
31.03.2018 Depreciate Land & Building and furniture by 5 % p.a
You are required to:
1.Create a company as per the details given
2. Create appropriate groups and ledgers
3. Enter the transactions in the appropriate voucher type
4. Display and export the financial statements for the year-end 2017-2018

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy