You are required to pass necessary journal entries of the following (i) Employees had taken stock worth - 50,000 (Cost price - 45,000) on the eve of…

Particulars Dr. Amount (₹) Cr. Amount (₹) (i) Salaries A/c Dr. 45,000 To Purchase A/c (Being entry made for stock taken by employees) 45,000 (ii) Machinery A/c Dr. 16,000 To Bank A/c (Being wages paid for erection of machinery) 16,000 (iii) Drawings A/c 7,000 To Purchases A/c 6,000 To Cash A/c (Being goods and cash withdrawn for personal use) 1,000 (iv) Purchase A/c 54,000 To Bank A/c 52,500 To Discount Received A/c (Being the goods purchased from Sandeep for 60,000 @10% trade discount and cash discount of 1,500) 1,500 (v) Machinery A/c Dr. 3,00,000 Input CGST A/c Dr. 18,000 Input SGST A/c Dr. 18,000 To Bank A/c 1,00,000 To Jawahar Industries A/c (Being machinery purchased from Jawahar and paid - 1,00,000 immediately CGST and SGST @6% each) 2,36,000