Question 11 Chapter 5 – Unimax Publications of Class 11

Question 11 Chapter 5 – Unimax Publications of Class 11


Question 11 Chapter 5 – Unimax Publications of Class 11

11. Enter the following transactions in the books of Shriya Traders. Assume CGST @ 9%
May 1 Purchased goods for Rs. 9,00,000 from Abhi at 20% .
May 10 Sold goods Rs. 4,50,000 on cash.
May 20 Paid for advertisement Rs. 45,000 by cheque.
May 22 Sold goods for Rs. 1,50,000 and received a cheque.
May 25 Received commission Rs. 15,000
May 28 Purchased goods Rs. 1,50,000 C.D. @ 20%.
May 31 Payment made of balance amount of GST.

The solution of Question 11 Chapter 5 – Unimax Publications of Class 11:


DateParticulars L.F.DebitCredit
May 1Purchases A/cDr. 7,20,000 
 Input CGST A/cDr. 64,800 
 Input SGST A/cDr. 64,800 
 To Abhi A/c   8,49,600
 (Being goods purchased from Abhi) (WNI)    
May 10Cash A/cDr. 5,31,000 
 To Sales A/c   4,50,000
 To Output CGST A/c   40,500
 To Output SGST A/c   40,500
 (Being goods sold for cash)    
May 20Advertisement A/cDr. 45,000 
 Input CGSTDr. 4,050 
 Input SGST A/cDr. 4,050 
 To Bank A/c   53,100
 (Being advertisement paid by cheque)    
May 22Bank A/cDr. 1,77,000 
 To Bank A/c   1,50,000
 To Output CGST A/c   13,500
 To Output SGST A/c   13,500
 (Being goods sold by cheque)    
May 25Cash A/cDr. 17,700 
 To Commission A/c   15,000
 To Output CGST A/c   1,350
 To Output SGST A/c   1,350
 (Being commission received)    
May 20Purchases A/cDr. 1,50,000 
 Input CGST A/cDr. 13,500 
 Input SGST A/cDr. 13,500 
 To cash A/c   1,41,600
 To Discount received A/c   35,400
 (Being goods purchased at C.D) (WN II)    
May 20Output CGST A/cDr. 55,350 
 Output SGST A/cDr. 55,350 
 To Input CGST A/c   55,350
 To Input SGST A/c   55,350
 (Being G.S.T Adjusted)   

Working Notes:

1.List price of goods purchased9,00,000
 Less: Trade discount @20%1,80,000
 Add: CGST@ 9%64,800
2.List price of goods purchased1,50,000
 Add: CGST@ 9%13,500
 Less: Cash discount@ 20%35,400
3.Total Input CGST = Rs. 64,800+74,050 + 13,500 = Rs. 82,350 
 Total Input SGST = Rs. 64,800+ 4,050+ 13,500 = Rs. 82,350 
 Total Output CGST = Rs. 40,500 + 13,500 + 1,350 = Rs. 55,350 
 Total Output SGST = Rs. 40,500 + 13,500 + 1,3350 = Rs. 55,350 

Note: Since Input GST is more than Output GST, there is no tax liability to be paid to the Government. Excess of Input GST is called Input Tax credit. It will be carried forward and will be adjusted in the next year.

End of Solution

Check Out the Solution of all questions for this chapter:

The solutions to all questions of Chapter No. 5 – Goods and Services Tax (GST) : An Introduction Unimax – Class 11 are shown as follows, click on the image of the question to get the solution.

1. Comprehensive Solutions for All Chapters of Advanced Accountancy I Class 11 by Unimax offers a comprehensive solution for students studying Advanced Accountancy I Part 1 in Class 11. With their meticulously curated study material, students can access comprehensive solutions to all the questions included within each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 11 examinations.

2. Punjab School Education Board (PSEB) Solutions of Usha Publication.

If you’re a student enrolled in the Punjab School Education Board Class 11, it’s essential to explore a wide range of books to cover the syllabus thoroughly. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to a variety of writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.


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