5. Record the following transactions in the books of Sahdev & Sons assuming all transactions have been entered within the state of Bihar, Charging CGST and SGST @ 9% each.
| (i) | Bought goods from Nanak Bros. for ₹4,00,000 at 10% trade discount and 3% cash discount on purchase price. 25% of the amount paid at the time of purchase. |
|---|---|
| (ii) | Sold goods to Kumar & Sons. for ₹2,00,000 at 20% trade discount and 5% cash discount on sale price. 60% of the amount received by Cheque. |
| (iii) | Received from Gopi Chand ₹38,000 by Cheque after deducting 5% cash discount |
| (iv) | Paid ₹20,000 for rent by Cheque. |
| (v) | Paid ₹50,000 for salaries by Cheque. |
| (vi) | Goods worth ₹10,000 distributed as free samples. |
| (vii) | ₹5,000 due from Chanderkant are bad-debts. |
| (viii) | Sold household furniture for ₹15,000 and the proceeds were invested into business. |
Ignore adjustment of GST.
D.K.Goel/2024 Edition/Practical Questions/Q-05
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
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