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Record the following transaction in the …

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Record the following transaction in the book of sir Deva and sons asuming all the transactions have been entered with in the state of Bihar charging cgst and sgst at the death 9% is first question broad good from Nayak Bros for rupees for leg at 10% trade discount and 3% cash discount on the purchase price 25% of the amount paid at the time of purchase

Posted by Anuj Paliwal 6 years, 4 months ago

CBSE > Class 11 > Accountancy

1 answers

Nikita Yadav 6 years, 3 months ago

Firstly we purchased for 400000 now less trade discount of 10% means 40000 we get 360000 now 25% of 400000 will be 90000 less cash discount of 3% means 2700 on 90000 we get 87300 now cgst and sgst of 9% at 400000 and after getting them cgst sgst and actual purchase we will debit and nanak & bros discount received and cash will be credited ( amount left to nanak bros is equal to total amount less amount paid including discount)

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