[ISC] Q 2 Solution Accounting of Goods and Services Tax (GST) TS Grewal (2022-23)

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Are you looking for the solution of Question number 2 of Accounting of Goods and Services Tax (GST) of TS Grewal class 11 ISC Board 2022-23 Session?

Journalise the following transactions in the books of Gupta Bros., Lucknow (UP):

2022
March 1
Started business with cash ₹ 30,000; goods of ₹ 15,000 and furniture of ₹ 20,00020,000
March 2Paid into bank7,000
March 3Bought goods from Mohan Bros., Lucknow on credit6,000
March 4Sold goods to Goyal Bros., Kanpur (UP) on credit20,000
March 5Bought a computer against cheque11,800
March 7Received from Salesman for goods sold by him7,080
March 10Goyal Bros., gave cheque; deposited in the bank6,700
March 11Paid to Mohan Bros. by cheque
Discount allowed by him
300
March 13Received an order for goods along with advance of ₹ 1,000 in cash from Mahesh5,000
March 15Interest received from bank400
March 20Bank intimates that the cheque of Goyal Bros. is returned dishonoured
March 22Paid rent by chequeGoyal Bros. gave cheque; deposited in the bank

Solution:-

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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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