Question 12 Chapter 5 – Unimax Publications of Class 11

Question 12 Chapter 5 – Unimax Publications of Class 11


Question 12 Chapter 5 – Unimax Publications of Class 11

12. Pass entries in the books of Mandeep Rai of Punjab assuming CGST @ 9% and SGST @ 9%
Oct. 1 Purchased goods for Rs. 7,50,000 from Prince of Haryana.
Oct. 3 Purchased goods for Rs. 75,000 from Hitesh of Punjab on cash.
Oct. 9 Sold goods Rs. 1,50,000 to Bhawna of Delhi to 10% T.D.
Oct. 10 Sold goods at Haryana Rs. 6,00,000 at 10% C.D.
Oct. 15 Paid for advertisement Rs. 15,000
Oct. 18 Purchased a computer for office use Rs. 60,000 and payment made by cheque
Oct. 20 Proprietor withdrew Rs. 30,000 for his personal use.
Oct. 25 Paid Salaries by cheque Rs. 30,000
Oct. 26 Paid electricity expenses Rs. 37,500
Oct. 27 Received commission Rs. 45,000
Oct. 28 Sold goods Rs. 1,50,000 for cash.
Oct. 29 Paid printing & stationery Rs. 15,000
Oct. 30 Payment made of balance amount of GST

The solution of Question 12 Chapter 5 – Unimax Publications of Class 11:


DateParticulars L.F.DebitCredit
Oct. 1Purchases A/cDr. 7,50,000 
 Input IGST A/cDr. 1,35,000 
 To Prince A/c   8,85,000
 (Being goods purchased outside the state)    
Oct.3Purchases A/cDr. 75,000 
 Input CGST A/cDr. 6,750 
 Input SGST A/cDr. 6,750 
 To Cash A/c   88,500
 (Being goods purchased inside the state)    
Oct. 9Bhawna A/cDr. 1,59,300 
 To Sales A/c   1,35,000
 To Output IGST A/c   24,300
 (Being goods sold outside the state) (WNI)    
Oct. 10Cash A/cDr. 6,37,200 
 Discount allowed A/cDr. 70,800 
 To Sales A/c   6,00,000
 To Output IGST A/c   1,08,000
 (Being good sold outside the state at C.D) (WNII)    
Oct. 15Advertisement A/cDr. 15,000 
 Input CGST A/cDr. 1,350 
 Input SGST A/cDr. 1,350 
 To Cash A/c   17,700
 (Being advertisement paid)    
Oct. 18Office equipment A/cDr. 60,000 
 Input CGST A/cDr. 5,400 
 Input SGST A/cDr. 5,400 
 To Bank A/c   70,800
 (Being computer purchased)    
Oct. 20Drawings A/cDr. 30,000 
 To Cash A/c   30,000
 (Being proprietor withdrew for personal use)    
Oct. 25Salaries A/cDr. 30,000 
 To Cash A/c   30,000
 (Being salaries paid)    
Oct. 26Electricity Expense A/cDr. 37,500 
 To Cash A/c   37,500
 (Being electricity bill paid)    
Oct. 27Cash A/cDr. 53,100 
 To Commission Received A/c   45,000
 To Output CGST A/c   4,050
 To Output SGST A/c   4,050
 (Being commission received)    
Oct. 28Cash A/cDr. 1,77,000 
 To Sales A/c   1,50,000
 To Output CGST A/c   13,500
 To Output SGST A/c   13,500
 (Being goods sold for cash)    
Oct. 29Printing and Stationary A/cDr. 15,000 
 Input CGST A/cDr. 1,350 
 Input SGST A/cDr. 1,350 
 To Cash A/c   17,700
 (Being printing& stationery paid)    
Oct. 30Output IGST A/cDr. 1,32,300 
 To Input IGST A/c   1,32,300
 (Being IGST adjusted) (WN III)    
 Output CGST A/cDr. 17,500 
 To Input CGST A/c   14,850
 To Input IGST A/c   2,700
 (Being CGST adjusted) (WN IV)    
 Output SGST A/c  17,550 
 To Input SGST A/c   14,850
 To Bank A/c   2,700
 (Being SGST adjusted and payment of balance amount Paid) (WN V)   

Working Notes:

1.List price of goods Sold1,50,000
 Less: Trade discount@ 10%15,000
 Add: IGST@ 18%24,300
2.List price of goods sold6,00,000
 Add: IGST@ 18%1,08,000
 Less: C.D @ 10%70,800
3.First of all output IGST will be adjusted against Input IGST 
 Input IGST1,35,000
 Less Output IGST (i.e 24,300+1,08,000= 1,32,300)1,32,300
 IGST credit2,700
4.This balance of Rs. 2,700 of 1GST credit will be first applied to set off CGST and the balance IF any will be applied to set off SGST 
 Total Output CGST (Rs. 4,050+Rs. 13,500)17,550
 Less: Input CGST (6,750+1,350 +5,400 +1,350)14,850
 amount adjusted against IGST credit2,700
5.Total Output CGST (Rs. 4,050+Rs. 13,500)17,550
 Less: Total Input SGST (6,750+1,350 +5,400 +1,350)14,850
 Balance paid off2,700

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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