Page 205 - DEBKVOL-1

8.30 Double Entry Book Keeping—CBSE XII

(ii) Sundry Creditors A/c ...Dr. 1,20,000
To Realisation A/c 1,20,000
(Liability transferred)

(iii) Kumar’s Capital A/c ...Dr. 53,100
To Realisation A/c 45,000
To Outut CGST A/c 4,050
To Output SGST A/c 4,050
(Machinery taken by Kumar, CGST and SGST charged @ 9% each)
(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
(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
(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
(Car sold to Sham, charged CGST and SGST @ 9% each)
(vii) Bank A/c ...Dr. 62,820
To Realisation A/c 62,820
(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
(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
(Balance stock sold, charged CGST and SGST @ 9% each)

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