Balance on 1st April 2019
Cash at Bank Rs.80,000, Sundry Debtors Ram Rs.20,000, Rahim Rs.30,000, Stock Rs.55,000, Building Rs.1,50,000.
Credit Balance on 1st April 2019
Sundry Creditors Swapna Rs.20,000, Rohit Rs.30,00, Bank Loan Rs.50,000.

2019 April
1. Purchased goods worth Rs.1,50,000 from Prashant & Co. less 10% T.D.

4. Sold goods to Mr. Amit Sharma Rs.70,000 at 10% T.D on credit.

9. Purchased goods for Cash Rs. 2,00,000 @28% GST amount paid by NEFT.

12. Sold goods to Aditya Ray of Rs. 90,000 @28% GST.

15. paid for Rent Rs. 5,000 and Salary Rs. 18,000.

17. paid for proprietor's House rent Rs. 12,000.

20. Sold half of the goods purchased on 9th April at 20% Profit and 28% GST.

25. Paid for Wages Rs. 1,500.

25. Purchased Furniture Rs. 1,80,000 @12% GST and amount paid by RTGS.

28. Sold an old Furniture of Rs. 20,000 for Rs. 12,000.

30. Sold share of Rs. 10,000 for 15,000 and amount received by cheque.
Solution:

In the books of Hero Enterprises.
DATE
PARTICULARS
L/F
DEBIT
CREDIT
2011 April 1
Cash at Bank A/c Dr.
Sundry Debtors Ram A/c Dr.
Rahim A/c Dr.
Stock A/c Dr.
Building A/c Dr.
To Sundry Creditors Swapna A/c
To Rohit A/c
To Bank Loan A/c
[Being Balance brought forward from last year]

80,000
20,000
30,000
55,000
1,50,000

20,000

30,000
50,000
1
Purchase A/c Dr.
  To Prashant & Co. A/c
[Being Purchased goods at 10% T.D]

1,35,000

1,35,000
4
Amit Sharma A/c Dr.
To Sales A/c
[Being sold goods to Mr. Amit Sharma on credit at 10% T.D]

63,000

63,000
9
Purchase A/c Dr.
Input CGST 14%   Dr.
Input SGST 14% Dr.
To Bank A/c
[Being purchased goods @28% GST and paid by NEFT]

2,00,000
28,000
28,000

2,56,000
12
Aditya Ray A/c Dr.
To Sales A/c
To Output CGST 14%
To Output SGST 14%
[Being sold goods to Aditya Ray @28% GST]

1,52,000

90,000
12,600
12,600
15
Rent A/c Dr.
Salary A/c Dr.
To Cash A/c
[Being paid rent and salary]

5,000
18,000

23,000

17
Drawings A/c        Dr.
          To Cash A/c
[Being paid for proprietor's house rent]

12,000

12,000
20
Cash A/c                            Dr.
Profit A/c                          Dr.
           To Sales A/c
           To Output CGST 14%
           To Output SGST 14%
[Being sold goods at 20% Profit and 28% GST]

1,33,000
20,000

1,20,00016,800
16,800
25
Wages A/c                         Dr.
            To Cash A/c
[Being Paid Wages]

1,500

1,500
25
Furniture A/c                     Dr.
Input CGST 14%                Dr.
Input SGST 14%                Dr.
          To Bank A/c
[Being purchased furniture at 28% GST by RTGS]

1,80,000
25,200
25,200

2,30,400
28
Cash A/c                             Dr.
Loss A/c                              Dr.
          To Furniture A/c
[Being Sold an old Furniture]

12,000
8,000

15,000
30
Bank A/c                           Dr.
Profit A/c                          Dr.
           To Shares A/c
[Being sold shares of Rs.10,000 for 15,000 and amount received by cheque]

10,000
5,000

15,000

Explanatory Notes:

Calculation:
1. Purchased goods worth Rs.1,50,000 from Prashant & Co. less 10% T.D Calculation:
10% T.D. - 1,50,000 10/100 = 15,000

4. Sold goods to Mr. Amit Sharma Rs.70,000 at 10% T.D on credit Calculation:
10% T.D. - 70,000 10/100 = 7,000

9. Purchased goods for Cash Rs. 2,00,000 @28% GST amount paid by NEFT Calculation:
GST 28% - 2,00,000 28/100 = 56,000
CGST 14% - 2,00,000 14/100 = 28,000
SGST 14% - 2,00,000 14/100 = 28,000

12. Sold goods to Aditya RAy of Rs. 90,000 @28% GST Calculation:
GST 28% - 90,000 28/100 = 25,200
CGST 14% - 90,000 14/100 = 12,600
SGST 14% - 90,000 14/100 = 12,600

20. Sold half of the goods purchased on 9th April at 20% Profit and 28% GST Calculation:
20% Profit = 1,00,000 20/100 = 20,000
GST 28% - 1,20,000 28/100 = 33,600
CGST 14% - 1,20,000 14/100 = 16,800
SGST 14% - 1,20,000 14/100 = 16,800

25. Paid for Wages Rs. 1,500 Calculation:
GST 12% - 1,80,000 12/100 = 21,600
CGST 6% - 1,80,000 6/100 = 10,800
SGST 6% - 1,80,000 *6/100 = 10,800

3 Gold Rule of Accounting.
Personal Account: 1. Debit the Receiver.
2. Credit The Giver.
Real Account: 1. Debit What Comes In.
2. Credit What Goes Out.
Nominal Account: 1. Debit All Expenses and Losses.
2. Credit All Income and Gain.
JOURNALIZE THE FOLLOWING TRANSACTIONS IN THE BOOKS OF HERO ENTERPRISES

Edaccountancy

DATE	PARTICULARS	L/F	DEBIT	CREDIT
2011 April 1	Cash at Bank A/c Dr. Sundry Debtors Ram A/c Dr. Rahim A/c Dr. Stock A/c Dr. Building A/c Dr. To Sundry Creditors Swapna A/c To Rohit A/c To Bank Loan A/c [Being Balance brought forward from last year]		80,000 20,000 30,000 55,000 1,50,000	20,000 30,000 50,000
1	Purchase A/c Dr. To Prashant & Co. A/c [Being Purchased goods at 10% T.D]		1,35,000	1,35,000
4	Amit Sharma A/c Dr. To Sales A/c [Being sold goods to Mr. Amit Sharma on credit at 10% T.D]		63,000	63,000
9	Purchase A/c Dr. Input CGST 14% Dr. Input SGST 14% Dr. To Bank A/c [Being purchased goods @28% GST and paid by NEFT]		2,00,000 28,000 28,000	2,56,000
12	Aditya Ray A/c Dr. To Sales A/c To Output CGST 14% To Output SGST 14% [Being sold goods to Aditya Ray @28% GST]		1,52,000	90,000 12,600 12,600
15	Rent A/c Dr. Salary A/c Dr. To Cash A/c [Being paid rent and salary]		5,000 18,000	23,000

17	Drawings A/c Dr. To Cash A/c [Being paid for proprietor's house rent]	12,000	12,000
20	Cash A/c Dr. Profit A/c Dr. To Sales A/c To Output CGST 14% To Output SGST 14% [Being sold goods at 20% Profit and 28% GST]	1,33,000 20,000	1,20,00016,800 16,800
25	Wages A/c Dr. To Cash A/c [Being Paid Wages]	1,500	1,500
25	Furniture A/c Dr. Input CGST 14% Dr. Input SGST 14% Dr. To Bank A/c [Being purchased furniture at 28% GST by RTGS]	1,80,000 25,200 25,200	2,30,400
28	Cash A/c Dr. Loss A/c Dr. To Furniture A/c [Being Sold an old Furniture]	12,000 8,000	15,000
30	Bank A/c Dr. Profit A/c Dr. To Shares A/c [Being sold shares of Rs.10,000 for 15,000 and amount received by cheque]	10,000 5,000	15,000