Tally Assignment No - 2

Create New Company , Create Chart of Accounts

P - Pre-defined Group (no action)

L - Ledger account required

NG - New Group required

NPG - New Primary Group required

 Trial Balance

Particulars Debit Credit

Bank account 35000

Deposit Account 40000
Petty Cash 500
Opening Stock 286150
Sundry Debtors (Total) 57300
Compu Care Systems 5400
Data Link Technologies 26000
Spectrum Computers 12400
Supreme Computers 13500
Buildings (NG) & (L) 75000
Buildings AccumDeprn 8000
Office Equipment (NG) & (L) 25000
Office Equip AccumDeprn 4500
Tax Deducted at Source 4780
Sales tax 13600
Sundry Creditors (Total) 156000
Challenger Systems 65650
Horizon Enterprises 44750
Silverplus Computers 45600
Mutual Trust Loan 50000
Equity Capital 250000
Profit & Loss A/c 32070
Total 518950 518950

Create Inventory Items

Stock Group

1. Televisions (main stock group)

Sony TV – stock group under Televisons

Philips TV – stock group under Televisons
Videocon TV – stock group under Televisons
2. Music Systems (main stock group)

Sony Music Systems – Stock Group under Music Systems

Videocon Music Systems – Stock Group under Music Systems
 Create the following Stock Groups in the similar manner

Name Under Can Quantitiesof

itemsbeADDED
Philips TV Televisions Yes
Videocon TV Televisions Yes
Sony Music Systems Music Systems Yes
Videocon Music Systems Music Systems Yes

i. Create Stock Category 29 inches TV Under Primary

ii. Create Stock Category 25 inches TV under Primary
 i. Create a Godown – Lahore under Primary.
ii. Create a Godown – Islamabad under Primary.
iii. Create a Godown – On-Site under Primary.

Creating Units of Measure:- Create the unit Nos.

1. Type: Simple
2. Symbol: Nos
3. Formal Name: Numbers
4. Number of Decimal Places: 0
i. Create a Stock Item Sony 29 inches TV, under the Group Sony TV

Create the following Stock Items under Televisions:-

Name Under Category Units

Sony 25 inches TV S ony TV 25 inches TV Nos

Philips 29 inches TV Philips TV 29 inches TV Nos
Philips 25 inches TV Philips TV 25 inches TV Nos
Videocon 29 inches TV Videocon TV 29 inches TV Nos
Videocon 25 inches TV Videocon TV 25 inches TV Nos
Create the following Stock Items under Music Systems.

Name Under Category Units

Sony Tape - Recorder Sony Music Systems Not Applicable Nos

Sony CD - Player Sony Music Systems Not Applicable Nos
Videocon Tape - Recorder Videocon Music Systems Not Applicable Nos
Videocon CD - Player Videocon Music Systems Not Applicable Nos
Create the stock groups and sub-groups as shown:

Stock Group Under

Computers Primary
Printers Primary
Peripherals Primary
Accessories Peripherals
Components Peripherals
Creating Multiple Stock Categories
Under Category Name of Category
Primary HCL
Primary IBM
Primary HP
Primary Samsung
Creating Units of Measure
Type Symbol Formal Name Number of DecimalPlaces
Simple Nos Number Of 0
Simple Box Boxes 0
Create Stock Items
Stock Cost Warehouse On-Site Total Qty TotalValue Retail Price
COMPUTERS
HCL PIV 17,500 1 4 5 Nos 87,500 21,500
IBM PIV 17,100 0 4 4 Nos 68,400 24,785
PERIPHERALS
Accessories
CD ROM Disks 100s
450 0 5 5 Box 2,250 500
Dust Covers 35 2 8 10 Nos 350 40

USB Pen Drives 64MB

1,250 0 10 10 Nos 12,500 1,600

Wireless Keyboard
490 10 15 25 Nos 12,250 700

Wireless Mouse
250 10 10 20 Nos 5,000 430

PrintersHP Laserjet 1010 Series

8,200 0 7 7 Nos 57,400 9,500

Samsung Laserjet 1500

8,100 0 5 5 Nos 40,500 9,850

Total 2,86,150

Date Transaction Details

1. Paid Rs 500 to Challenger Systems by cheque

2. Bought office supplies for Rs 150 with Petty Cash
3. Wages of Rs 600 paid to employees by cheque
4. Banked a cheque for Rs 5000 received from Data Link Technologies
5. Sold 1 IBM Pentium IV to Spectrum Computers for Rs 24,785.
6. Withdrew Rs 200 from Bank Account for Petty Cash
7. Bought 1 Laserjet 1500 from Silver Plus computers on credit for Rs 8,100
8. Cash Withdraw from Bank HBLRs.20,000/-for Office use
9. Cash Withdraw from bank MCBRs. 30,000/- for office Use
10. Bought Office Table for Cash Rs.20,000/-
11. Purchased Office Chairs for Cash Rs.15,000/-
12. Bought Office Computer for Bank (HBL) Rs.25,000/-
13. Purchased Office Stationery from Creditors Rs.15,000/- on Account
14. Purchased Office Printer from Creditors Rs.25,000/- on Account
15. Amount withdrawn from Bank “MCB” for personal use Rs.15000.
16. Paid Salaries to Employees Rs. 25,000/- from MCB
17. Paid Repair & Maintenance of Car Rs. 5,000/-
18. Printing Charges Rs. 500/- paid in Cash
19. Small stationery items purchased out of Petty Cash Rs. 200/-
20. Fee Received from 04 Students under the following heads
a. Admission charges 10,000/-
b. Registration Charges 2,000/-
c. Security Charges 10,000/-
d. Tuition Fee 7,000/-
e. Stationery and Books 5,000/-
f. I.D. Card Charges 500/-
 g. Security & Health Charges 500/-
21. Sales of Old Newspaper for Rs. 500/-
22. Professional Services provided against Rs. 5,000/-
23. Diesel purchased for Rs. 1,000/-
24. Fresh Investment made by owner in business Rs. 50,000/-
25. Purchased office Telephone Set for Rs. 1000 “Cash in Hand”
Check Reports:

Balance Sheet, Income Statement, Day Book, Trial Balance and Ledgers, Stock Summery