[ISC] Q 2 Solution Accounting of Goods and Services Tax (GST) TS Grewal (2023-24)
Solution of Question number 2 of Accounting of Goods and Services Tax (GST) of TS Grewal class 11 ISC Board 2023-24 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 ₹ 20,000 | 20,000 |
| March 2 | Paid into bank | 7,000 |
| March 3 | Bought goods from Mohan Bros., Lucknow on credit | 6,000 |
| March 4 | Sold goods to Goyal Bros., Kanpur (UP) on credit | 20,000 |
| March 5 | Bought a computer against cheque | 11,800 |
| March 7 | Received from Salesman for goods sold by him | 7,080 |
| March 10 | Goyal Bros., gave cheque; deposited in the bank | 6,700 |
| March 11 | Paid to Mohan Bros. by cheque Discount allowed by him | 300 |
| March 13 | Received an order for goods along with advance of ₹ 1,000 in cash from Mahesh | 5,000 |
| March 15 | Interest received from bank | 400 |
| March 20 | Bank intimates that the cheque of Goyal Bros. is returned dishonoured | |
| March 22 | Paid rent by cheque | 600 |
Solution:-
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