Page 144 - ISCDEBK-12

6.18 Double Entry Book Keeping (Section A)—ISC XII

(iv) Bank A/c ...Dr. 59,000
To Realisation A/c 50,000
To Output CGST A/c 4,500
To Output SGST A/c 4,500
(Being the balance machinery sold, charged CGST and SGST @ 9% each)
(v) Bank A/c ...Dr. 47,200
To Realisation A/c 40,000
To Output CGST A/c 3,600
To Output SGST A/c 3,600
(Being the furniture sold, charged CGST and SGST @ 9% each)
(vi) Sham’s Capital A/c ...Dr. 35,400
To Realisation A/c 30,000
To Output CGST A/c 2,700
To Output SGST A/c 2,700
(Being the car sold to Sham, charged CGST and SGST @ 9% each)

(vii) Bank A/c ...Dr. 62,820
To Realisation A/c 62,820
(Being the Debtors realised)
(viii) Ram’s Capital A/c ...Dr. 6,136
To Realisation A/c 5,200
To Output CGST A/c 468
To Output SGST A/c 468
(Being the stock taken by Ram, charged CGST and SGST @ 9% each)
(ix) Bank A/c ...Dr. 35,400
To Realisation A/c 30,000
To Output CGST A/c 2,700
To Output SGST A/c 2,700
(Being the balance stock sold, charged CGST and SGST @ 9% each)

(x) Realisation A/c ...Dr. 1,00,300
To Bank A/c 1,00,300
(Being the creditors paid)

(xi) Realisation A/c ...Dr. 5,000
Input CGST A/c ...Dr. 450
Input SGST A/c ...Dr. 450
To Bank A/c 5,900
(Being the realisation expenses paid along with CGST and SGST @ 9% each)
(xii) Output CGST A/c ...Dr. 18,018
To Input CGST A/c 450
To Bank A/c 17,568
(Being the Output CGST deposited after setting off Input CGST)
(xiii) Output SGST A/c ...Dr. 18,018
To Input SGST A/c 450
To Bank A/c 17,568
(Being the Output SGST deposited after setting off Input SGST)