Samsung
Limited-Period Open
Offers
GST Practical Sums
TRANSACTIONS OF REGISTERED
REGULAR DEALER
Journalize the following transaction of
Newtech Computers GST Registration
Type: Regular (GSTIN:
37AADCB2230M2ZR) RAJAHMUNDRY
transacting in Computer parts @ 18% GST
for the financial year 2017-18
Opening Balances as on 1-7-2017:
Capital: 10,00,000/-; Andhra Bank A/c:
20,000/-; AXIS Bank A/c-50,000/-; stock
:6,25,000/- (Zenith CPU
20nos@15000each,LG Monitors
30nos@8000 each; Logitech Mouses
200@300each; Frontech Keyboard
100@250 each; Debtors:3,15,000/- (Yes
Computers-1,50,000;Byte Computers-
1,65,000); Creditors: 1,80,000/- (Zenith &
Co-1,00,000/-; Sam&Co-30,000/-;Sri
Computer World-50,000); Mobile Van:
1,20,000/-; cash-in-hand:50,000/-
Jul 1 Purchased 50 zenith CPU
from Zenith&Co (GSTIN:
37AABCS1429B1ZT) worth of
Rs. 9,00,000/- @GST 18%
(Local Regular Purchase)
Jul 1 Returned 19 zenith Computer
to Zenith &co (Local Purchase Returns)
Jul 1 Sold 14 Zenith CPU to Byte
Computers Institute (GSTIN:
37AAACI1681G2ZN) for Rs.
2,80,000/-@ GST 18% (Local
Regular Sales)
Jul 1 Byte Computers returned 4
Zenith CPU (Local Sales Returns)
Jul 1 Purchased 100 Zenith
Mouses from Sri Computer
World (Composition Dealer)
(GSTIN: 37FSTPS7508K1ZN)
for Rs. 15,000/- (Local
Composition Purchase)
Jul 1 returned 10 Zenith Mouses to
Sri Computer World (Local
Comp Pur Returns)
Jul 2 Sold 90 Logitech mouses to
Yes Computers (Composition
Dealer) (GSTIN:
37FSTPS9233K1ZL) for Rs.
27,000/- (Local Composition
Sales)
Jul 2 Yes computers returned 10
Logitech Mouses (local Comp
Sales Returns)
Jul 2 Purchased 80 Samsung
Monitors from Sam&Co
(UnRegistered Dealer) for Rs.
4,80,000/-
Jul 2 Returned back 20 Samsung
Monitors (Local UR Purchase Returns)
Jul 31 Sold 50 Samsung Monitors to
Pavan & Co (UnRegistered Dealer) for Rs.
4,00,000/-
Jul 31 Pavan&Co returned 10
monitors
Jul 31 Purchased 100 Acer
Keyboards from Jain&Co,
Mumbai (Regular GSTIN:
27AAACC4175D1ZY) @280/-
each (Inter State Purchase)
Jul 31 Sales 5 LG Monitors@6500,
20 Zenith Mouses@300, 30
Acer keyboards@350 to
JoyRam Spares, Kolkata,
West Bengal (Regual GSTIN:
19AAACI1681G1ZM) (Inter
State Sales)
Jul 31 Sold 1 Zenith CPU Rs.
22,000/-, 1 LG Montor for Rs.
6,500/- , Frontech Keyboard
Rs. 300, 1 Logitech Mouse
Rs. 350/- to Ramesh,
Visakhapatnam (Consumer)
cash received from Ramesh
for above transaction.
Jul 31 Cash Sales 30 zenith CPU @
20000/- each to Yes
Computers through cheque
drawn on SBI, cheque
deposited in AXIS Bank
Jul 31 Cheque No. 450700 drawn
on AXIS Bank for Rs.
5,00,000/- issued to
Zenith&Co.
Jul 31 Cheque No. 142536 drawn
on AXIS bank is received from
Byte Computers Rs.
2,75,000/-
Solution:
Opening B/s: 11,80,000/-
Closing Stock: 5,76,785.29 TB: 37,78,077/-
GP/NP: 2,40,935.29/-;B/S: 21,71,862.29/-
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