[ISC] Q 5 Solution Accounting of Goods and Services Tax (GST) TS Grewal (2023-24)

Share your love

Solution of Question number 5 of Accounting of Goods and Services Tax (GST) of TS Grewal class 11 ISC Board 2023-24 Session?

Pass Journal entries in the books of Puneet, Delhi for the following:

(i) Received an order from Karan & Co. for supply of goods of ₹ 50,000.

(ii) Received an order from AK & Co. for goods of ₹ 1,00,000 along with a cheque for ₹ 25,000 as advance.

(iii) Paid to statff ₹ 40,000 against outstanding salaries of ₹ 60,000.

(iv) Sold goods to Bharat, Kaithal (Haryana) of ₹ 10,000 plus IGST @ 12% out of which 1/5th were returned by Bharat being defective.

(v) Cheque of ₹ 20,000 issued by Feroz was dishonoured.

(vi) Received 40 paise in a rupee from Feroz against the above dues.

(vii) Received a cheque of ₹ 25,000 from Mohan after banking hours.

(viii) Purchased goods from Barun of Chandigarh of ₹ 10,000 plus IGST @ 12% and sold them to Arun of Shimla (HP) at ₹ 22,400, including IGST @ 12%.

(ix) Arun returned goods of ₹ 6,720, including IGST which were returned to Barun.

(x) Puneet purchased 10 TV sets @ ₹ 20,000 per set and paid IGST @ 12%. It sold all the sets @ ₹ 25,000 per set plus CGST and SGST @ 6% each.

(xi) Paid insurance of ₹ 11,200 including CGST and SGST @ 6% each for a period of one year.

(xii) sold personal car for ₹ 1,00,000 and invested the amount in the firm.

(xiii) Goods costing ₹ 1,00,000 were destroyed in fire. Insurance company admitted the claim for ₹ 75,000. These goods were purchased within Delhi paying CGST and SGST @ 6% each.

(xiv) Purchased machinery for ₹ 56,000 including IGST of ₹ 6,000 and paid cartage thereon ₹ 5,000 and installation charges ₹ 10,000.

(xv) Goods costing ₹ 4,000 sold to Kapil at a profit of 20% on sales less 10% Trade Discount plus CGST and SGST @ 6% each and received a cheque under 2% cash discount.

(xvi) Purchased machinery from New Machinery House for ₹ 50,000 and paid it by bank draft from bank. Paid bank charges ₹ 500. Bank charged CGST and SGST @ 6% each on bank charges.


Below is the list of all solutions of this chapter

1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
Share your love
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 and can download the Android & ios app for free lectures.

Articles: 5229

Leave a Reply

Your email address will not be published. Required fields are marked *


Ad Blocker Detected!

Our Website is made possible by displaying online advertisements to our visitors. Please consider supporting us and remove the AD - Blocker to read this article.


error: Content is protected !!