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Answer» Narration of the transaction from journal Is as under: (1) BeIng goods of 2,400 destroyed in accident, for which Insurance Company accepted a claim of 2,000 and remaining amount Is debited to Loss by Accident A/c.
(2) BeIng interest of 500 credited by bank.
(3) Being sold old bicycle for 1,600 for cash.
(4) Being dividend of 700 credited by bank.
(5) Being sold goods of 8,000 for cash at 10 % cash discount.
(6) Being cash 1,000 and goods of 1,500 given as donation from the business. Points to be Remembered When Write the Journal with GST Transactions
★ SGST with CGST is applicable for the Intrastate Supply.
★ UTGST with CGST is applicable for the Union Territory Supply.
★ IGST is applicable for the Interstate Supply. | Transactions | GST for Intrastate Supply | GST for Interstate Supply | | 1. For Purchase of Goods | Input Central GST A/c Dr
Input State GST A/c Dr | Input Intergrated GST A/c Dr | | 2. For Purchase Returns | Input Central GST A/c Cr
Input State GST A/c Cr | Input Intergrated GST A/c Cr | | 3. For Sale of Goods | Output Central GST A/c Cr
Output State GST A/c Cr | Output Intergrated GST A/c Cr | | 4. For Sales Returns | Output Central GST A/c Dr
Output State GST A/c Dr | Output Intergrated GST A/c Dr | | 5. For Service Expenses | Input Central GST A/c Dr
Input State GST A/c Dr | Input Intergrated GST A/c Dr | | 6. For Service Incomes | Output Central GST A/c Cr
Output State GST A/c Cr | Output Intergrated GST A/c Cr | | 7. For Purchase of Asset | Input Central GST A/c Dr
Input State GST A/c Dr | Input Intergrated GST A/c Dr |
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