https://www.computercentre.in/2021/01/journal-entries.html
  


 

 


 This illustration is all about Purchase, Sales Purchase Return , and Sales Return of Material.

1. Purchased goods for Rs. 20000 cash

2. Purchased goods for Rs. 10000 from Ram

3. Purchased goods for Rs. 4000 from Ravi for cash 

4. Purchased materials for Rs. 4000 from Hari, he allowed us 10% trade discount.

5. Tarun sold goods to us for Rs. 3000 out of which Rs. 1000 were to paid him immediately 

6. Timber purchased from Deepak Furniture for cash Rs. 82500.

7. Goods Rs. 100000 Purchased from Sai Industries with GST@12%

8. Goods Sold for cash Rs. 10000

9. Cash Sales Rs. 2000

10. Goods sold to Rajesh for cash Rs. 4000.

11. Goods sold to Mahesh for Rs. 12000

12. Goods sold to Tara for cash RS. 2000 & on Credit Rs.6000

13. Nandu Purchased goods from us for Rs.1200.

14. Goods Costing Rs.2500 sold to Ramesh at Rs.3000 &Allowed him 5%Trade Discount. 

15. Goods sold to Niharika Sales Rs. 50000 with GST@ 12%.

16. Goods sold to Rajiv Rs. 12000 & allowed him 10% Trade Discount & 5% Cash Discount for Payment in 15 days.  He Paid 50% in Cash.

17. Goods Returned by Raj Rs. 200.

18. Sales Returns from Hari Rs. 400

19. Goods Returned back to Parag Rs. 140.

20. Defected goods Retreturned to Rajesh Rs. 300

21. Goods of Rs. 400 sold previously to Hari at Rs. 600 returned by him which in turn returned to Wasim from whom these were purchased.

22. Returned goods of Rs. 400 to Arun had been purchased for cash but amount has not been recovered yet. 

 

 Solutions

                                   

 1      Purchase A/c                         Dr.                                20000                                   

                     To cash A/c                                                                                                     20000 

 2     Purchase A/c                         Dr.                                 10000        

                    To Ram A/c                                                                                                       10000

3    Purchase A/c                           Dr.                                 4000

                   To cash A/c                                                                                                        4000

4   Purchase A/c                          Dr.                                  3600

                  To Hari's A/c                                                                                                      36005

5   Purchase A/c                          Dr.                                 3000

                 To Tarun A/c                                                                                                       2000                                   To cash A/c                                                                                                         1000

6  Purchase A/c                           Dr.                               82500

                To cash A/c                                                                                                         82500

7   Purchase A/c                            Dr.                              100000

     Input CGST A/c                       Dr                                  6000

     Input SGST A/c                       Dr                                  6000

                To Sai Industries A/c                                                                                          112000

Cash A/c                                 Dr.                               10000

             To Sales A/c                                                                                                          10000

Cash A/c                                Dr.                              2000

              To  Sales A/c                                                                                                         2000

 10  Cash A/c                            Dr.                              4000

               To Sales A/c                                                                                                        4000

11   Mahesh A/c                      Dr.                                12000                                       

                 To Sales A/c                                                                                                     12000

12  Cash A/c                         Dr.                                  2000

      Tara A/c                          Dr.                                  6000

              To Sales A/c                                                                                                       8000

13  Nandu A/c                    Dr.                                    1200

               To Sales  A/c                                                                                                     1200

14  Ramesh A/c               Dr.                                      2850

                To Sales A/c                                                                                                     2850

15    Niharika Sales A/c     Dr.                                     56000

                  To Output SGCT                                                                                              3000

                  To Output CGST                                                                                              3000

                  To Sales A/c                                                                                                     50000


16  Cash A/c                       Dr.                                   5130

      Rajiv A/c                      Dr.                                   5400

     Discount allowed A/c    Dr.                                    270

                     To Sales A/c                                                                                                 10800


17 Sales Return A/c                       Dr.                                      200                                           

              To Raj A/c                                                                                                            200

18 Sales Return A/c                         Dr.                                    400

              To Hari A/c                                                                                                        400

19   Parag A/c                                   Dr.                                    140

              To purchase Return A/c                                                                                       140

20     Raja A/c                                   Dr                                     300

                   To purchase Return A/c                                                                                  300

21   Sales Return A/c                      Dr.                                    600

              To Hari A/c                                                                                                         600                           

 

     Wasim A/c                             Dr.                                        400

                 To Purchase Return A/c                                                                                    400

22 Arun A/c                               Dr.                                       400

              To Purchase Return A/c                                                                                       400


         

 

 

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