Journal Level 2

Propreitor started a business with cash ₹50,000 , goods ₹50,000 and bank overdraft ₹20,000. Capital Account will be credited by...

• ₹80,000
• ₹1,20,000

• ₹1,00,000

• ₹20,000

Purchased Machinery of ₹80,000 at 12% GST. Value of CGST is...

• ₹9,600

• ₹4,800

• ₹96,000

• ₹84,800

Sold goods to Urmila ₹30,000 at 5% Trade Discount. Value of sales is...

• ₹28,500
• ₹30,000
• ₹31,500
• ₹1,500

Paid transport charges ₹10,000 at 5% GST. Total amount in Debit side will be...

• ₹9,500

• ₹10,000
• ₹11,000

• ₹10,500

Sold goods of ₹1,00,000 at 10% Trade Discount and 10% cash discount to Ram. Half of the amount was received by cheque. How much money was transferred to the bank?

• ₹81,000

• ₹90,000

• ₹40,500

• ₹45,000

Paid ₹58,500 cash to Amit who had allowed us discount of ₹1,500. Amit Account should be debited by...

• ₹58,500
• ₹57,000
• ₹60,000
• ₹1,500

Sold 1,000 shared at ₹100 each. Paid brokerage 1%. What amount is received in bank?

• ₹99,000

• ₹1,00,000

• ₹1,01,000

• ₹1,00,000

Sanjay owes us ₹80,000. He became insolvent and paid us 60 paise in a rupee. The value of bad debts is...

• ₹48,000

• ₹32,000

• ₹80,000

• ₹12,000

Ram Purchased furniture for ₹10,000 at GST 12%. The value of IGST is...

• ₹1,200

• ₹600

• ₹10,600

• ₹11,200

Shyam purchased shares of TCS worth ₹50,000. He also paid brokerage at 1%. The amount debited in Shares Account will be...

• ₹49,500

• ₹51,000
• ₹50,000
• ₹50,500