Made by Aruna Mam

INDIA TECHNICAL
EDUCATION CENTRE

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TALLY LEDGERS CREATIONS

Name of the Ledgers Under the Group Name of the Ledgers Under the Group
Punjab National Bank Bank A/C Discount Received Indirect Income
Bank Bank A/C Rent Received Indirect Income
Commission Received Indirect Income
Capital Capital A/C Interest Received Indirect Income
Drawing Capital A/C
Income Tax Capital A/C Carriage Outward Indirect Expense
Life Insurance Capital A/C Freight & Carriage Indirect Expense
Equity share Capital Share Capital A/C Factory Lighting Indirect Expense
Preference share Capital Share Capital A/C Import Duty Indirect Expense
Purchase Purchase A/C Travelling Expenses Indirect Expense
Purchase Return Purchase A/C Royalty Indirect Expense
Advertisement Expenses Indirect Expense
Sales Sale A/C Salary Indirect Expense
Sales Return Sale A/C Packing Expenses Indirect Expense

Cash Cash in Hand A/C Commission Allow Indirect Expense

Profit and Loss Profit And Loss A/C Painting & Stationary Indirect Expense
Trade Expense Indirect Expense
Goodwill Current Asset Bank Charges Indirect Expense
Short Term Investment Current Asset Charity Indirect Expense
Bill Receivable Current Asset Bad Debt Indirect Expense
National Plant Current Asset Postage Indirect Expense
Goods(Stock In Hand) Current Asset Travelling Expense Indirect Expense
Markerable Security Current Asset Rent Paid Indirect Expense
Accrued Income Current Asset Office Electricity Bill Indirect Expense
Advance Expenses Paid Current Asset Depreciation Indirect Expense
Repair & Maintainces Direct Expense
Bill Payable Current Liabilities Wages Direct Expense
Bank Overdraft Current Liabilities Carriage Inward Direct Expense
Outstanding Expenses Current Liabilities Power & Fuel Direct Expense
Advance Received Current Liabilities Factory Lighting Direct Expense
Salary Payable Current Liabilities Factory Rent Direct Expense
Duty on Purchase Direct Expense
Furniture Fixed Asset
Land & Building Fixed Asset Input VAT Duties Taxes
Plant & Machinery Fixed Asset Output VAT Duties Taxes
Long Term Investment Fixed Asset

Security Premium Reserve & Surplus

Closing Stock Stock in Hand A/C
Preliminary Expenses

Step of Creation of Ledgers- Gateway of Tally > Account Info> Ledgers Creation > Create
Sundary Debtors Sale Goods On Credit
Any Person Name Sundary Creditors Purchase Goods On Credit

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Assignment for Vouchers (Basic)
Enter the following Transactions in Single Column Cash Book.
Commenced Business with Cash 25000
Bought Goods for Cash 10000
Paid Carriage 200
Sold goods for cash 6000
Received from Ram 1000
Paid to shiv Kumar 2600
Cash Sales 8400
Purchase Furniture for cash for office use 5000
Paid to Advertisement 500
Purchased goods from Mahesh on credit 600
Paid to Mahesh 4000
Paid Wages 400
Received For Commission 1500
Withdrew for Personal use 2200
Paid Salary 700
(Cash Balance: Rs 18300)

Enter the following Transactions in Two Column Cash Book:

Cash in Hand 2710

Cash at Bank 27500
Received form Subhash 3500
Sold goods for cash 10000
Paid rent by Cheque 800
Paid Sohan by Cheque 8000
Bought goods for Cash 15000
Paid cash for Stationary 200
Withdrew form Bank for office use 8000
Receive Cheque from Surendra and sent it to Bank 6600
Paid for Advertisement 750
Issue Cheque in Favour of Nath brothers 4300
Cash Sales 13000
Deposit into Bank 15000
Received Cheque form Vinod and sent it to bank 2400
Bought Scooter and Paid for the same by Cheque 1800
Paid Salary by Cheque 7200
Paid for Trade Expenses 200
ASSIGNEMENTS
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Assignment 2:-
BILL WISE
PURCHASE
PARTIE BILL NO AMOUNT DAYS
M/S KUMAR BROS CH101 6000 15
PATIL.CO CH102 5000 10
KAPUR’S PVT LTD. CH103 5000 12
RIWAZ & SONS CH104 8000 14
M/S KUMAR BROS CH105 16500 13
PATIL.CO CH106 15500 15
KAPUR’S PVT LTD. CH107 15000 10
RIWAZ & SONS CH108 18000 10
M/S KUMAR BROS CH109 25000 12
PATIL.CO CH1010 28000 14
KAPUR’S PVT LTD. CH1011 24000 15
RIWAZ & SONS CH1012 8000 20

SALES
PARTIE BILLNO AMOUNT DAYS
ZEET PVT LTD SOS21 11000 10
KL CO. SOS22 12000 12
JK & SONS SOS23 13000 15
M/S JEAWAL BROS SOS24 14000 12
ZEET PVT LTD SOS25 15000 14
KL CO. SOS26 16000 12
JK & SONS SOS27 17500 10
M/S JESWAL BROS SOS28 18400 10
ZEET PVT LTD SOS29 18100 15
KL CO. SOS30 14500 12
JK & SONS SOS31 16200 11
M/S JESWAL BROS SOS32 13800 20

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ASSIGNMENTS
PAYMENT

PARTIE BILL NO AMOUNT DAYS

M/S KUMAR BROS CH101 6000 15
PATIL.CO CH102 5000 10
KAPUR’S PVT LTD. CH103 5000 12
RIWAZ & SONS CH104 8000 14
M/S KUMAR BROS CH105 16500 13
PATIL.CO CH106 15500 15
KAPUR’S PVT LTD. CH107 15000 10
RIWAZ & SONS CH108 18000 10
M/S KUMAR BROS CH109 25000 12
PATIL.CO CH1010 28000 14
KAPUR’S PVT LTD. CH1011 24000 15
RIWAZ & SONS CH1012 8000 20

RECEIPT

PARTIE BILLNO AMOUNT DAYS

ZEET PVT LTD SOS21 11000 10
KL CO. SOS22 12000 12
JK & SONS SOS23 13000 15
M/S JESWAL BROS SOS24 14000 12
ZEET PVT LTD SOS25 15000 14
KL CO. SOS26 16000 12
JK & SONS SOS27 17500 10
M/S JEAWAL BROS SOS28 18400 10
ZEET PVT LTD SOS29 18100 15
KL CO. SOS30 14500 12
JK & SONS SOS31 16200 11
M/S JEAWAL BROS SOS32 13800 20

Assignment on Inventory-2 (Basic + Discount + Godown)

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To Enable Discount coloum > In F11 Features >Separate discount Column on
Invoice – Yes

To Enable Godown Coloum > In F11 Features > Maintain Multiple Godown –
Yes

1. Opening Balance :- cash=1 Lakh

2. Purchase Goods from Mr. Akash on Credit
a. 150 Pcs chair @Rs 200
b. 40 Pcs Table @Rs 600 Unit Of Measure
c. 50 Pcs Sofa set @Rs 1000 Pcs
d. 50 Pcs Study Table @Rs 700 Stock Group
In Delhi Gate Godown
Furniture
3. Company Sale Good to Vishal Furniture House
Stock Item
a. 70 Pcs Chair @Rs 200
b. 20 Pcs Sofa set @Rs 1000 Furniture Chair Almira
c. 10 Pcs Study Table @Rs 700 Table
And also Give Discount Of 10% on Each items Sofa Set
Form Delhi Gate Godown Study Table
4. Company purchase Form Mr. Rakesh Godown
a. 10 Pcs Almira @Rs 1000 Delhi Gate
b. 10 Pcs Chair @Rs 150 Rampur7
On Cash and Receive Discount Of 10%
Rampur Godown

5. Company Sold Some Good To Mr. Sandeep

a. 30 Pcs Chair @Rs 220 Delhi Gate Godowns
b. 10 Pcs Almira @Rs 1050 Rampur Godown
c. 20 Pcs Study Table @Rs 750 Delhi Gate Godowns

On Credit Basic and Given Trade Discount 10%

6. Receive Cash From Sandeep and allow Cash Discount 10%

7. Mr. Deepak Furniture Com. Sold Good to Us
a. 2 Pcs Almira @Rs 2000 Cash
b. 3 Pcs Chair @Rs 100 Cash
Less: Trade Discount 5% in Rampur Godown
8. Company Sold Good to Mr. Raj
a. 2 Pcs Almira @Rs2000
b. 5 Pcs Chair @Rs 180
c. 10 Pcs Study Table @Rs 1000

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9. Purchase Good from Ram Lal And Co. and Receive 10% Discount
a. 50 Pcs Chair @Rs 1000 Main Location
b. 10 Pcs almira @Rs 2500 Main Location

Analysis: Purchase book Balance:-220935

Discount Allowed:- 2889
Stock held in Godown :- Rampur
Delhi Gate

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Assignment On Inventory
Mr Verma started Business with cash of Rs 10,000
1. Company Purchase Goods from Rohan
a. 100 mtr Silk @Rs 45/mtr
b. 75 mtr Velvet @Rs 80/mtr Unit of Measure
2. Company Sold Good on Cash Mtr
Pcs
a. 60 mtr Silk @Rs 50/mtr
Pair
b. 50 mtr Velvet @Rs 82.50/mtr
Stock Categories
3. Company Sold Good to Manoj Cloth
a. 30 mtr Silk @Rs 52.50/mtr Stationery
b. 20 mtr Velvet @Rs 85/mtr Stock Group
4. Roop Narian & Sons Purchased by us On Credit Raw
a. 10 mtr Silk @Rs 60/mtr Material
b. 5 mtr Velvet @Rs 87.50/mtr Stationery
5. Purchase Goods form Hera Lal on Credit Ready Made
Stock Item
a. 50 pcs English book @Rs 130/pcs
Raw Silk
b. 80 pcs Hindi book @Rs 65/pcs Material Velvet
6. Purchase form Mohan Lal on Credit Stationery English
a. Shirting Cloth 70mtr @Rs 100mtr Book
b. Sarees 25 Pcs @Rs 1000/Pcs Hindi Book
7. Shri Ram & Sons Sold to Us by Cash Shirting
a. Long Cloth 10Pcs @Rs 1000/Pcs Cloth
b. Shirt 100Pcs @Rs 250/Pcs Ready Made Sarees
Cloths Long Cloth
8. Company sold Goods to Krishna & Sons
Shirt
a. Shirt 10 Pcs @Rs 120/Pcs Dhoti
b. Sarees 12 Pcs @Rs 1000/Pcs
c. Dhoti 20 Pair @Rs 250/Pair
9. Company Sold Good in Cash
a. Long Cloth 5Pcs @Rs 500/Pcs
10. Company Receive All Dues By Manoj.
11. Company Pay Amount to Mr. Rohan in Full settlement only Rs.10500

Analysis:- Purchase Book : 89,200 Sales Books: 32,137.50

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Assignment (Discount + Inventory)
Opening Balance
Assets:- Cash in Hand =12400, Stock= 350000, Furniture=225000
Debtors: Abhilash= 20000, Bhuwan= 30000, Charu= 52000
Creditor:- Dinesh=15000, Abhishek=25000.
1. Purchase from Raghu Raj and Sons:-80Pcs Electric Kettles @ 300 Each
40Pcs Electric Irons @ 420 Each
20% Trade Discount.

2. Withdrew form Bank Rs.20,000.

3. Acceptance Received from Abhilash at one Month for the Amount Due form
Him.
4. Purchase a Computer from Gulshan Bros. on Credit for office use 40,000
5. Return 10 Pcs of Electric Kettles at discounted value to Raghu Raj.
6. Paid balance amount to Raghu Raj thought Cheque.
7. Paid to Gulshan Bros. Rs. 30,000 in cash and the balance by Cheque.
8. Paid Wages in cash 500.
9. Purchase form Dinesh-10Pcs Washing Machine @Rs 1600 Each
4Pcs Vacuum Cleaner @Rs 6000 Each
10. Sold to Charu: 200Pcs Electric Shavers @Rs 250 Each
400Pcs toster @Rs 200 Each
450Pcs Heater @Rs 200 Each
10% Trade Discount.
11. Received from Charu a cheque in full settlement of his Account. The Cheque
is Deposit into Bank 2,30,000.{Hint-20,000 allowed discount}
12. Cheque paid to Dinesh in Full Settlement of his Account 31,000.
{Hint:- Receive Discount form him of Rs.3000}
13. Sold for cash 20 Pcs Electric Irons @ Rs 450.
14. Deposit into the Bank Rs.5000.
15. Paid Staff Salary by Cheque Rs. 15,000.
16. Bank charges Expense Rs. 1250.

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Assignment-Order
1. Company places a purchase order on 01-07-2013 (Order No :ord/100) to
subham for the following items.
Lux soap 100Pcs@Rs18/- Premium soap 200Pcs@Rs22/-

2. Goods Received at Delhi Gate Godown on 1-7-2013 against ((Order

No :ord/100) from subham (Challan No:- CH/101)
3. Received the Purchase bill on 2-7-2013 from subham against (Challan
No:- 001)
4. Company places another Purchase order on 2-7-2013 (Oder No:
ord/101) to M/S Genlite for the following items.
Dettol 50 Bottles @50/- Ami 50 Bottles @30/-
5. Goods Received at ABC godown on 2-7-2013 against the Order No:
ord/101 from M/S Genlite (Challan No: ch/101).
6. Received the Purchase Bill (Pur 101) on 2-7-2013 from M/S Genlite
against the (Challan No:CH/101)
7. Company Received an Order (Order No: ord/500) on 2-7-2013 from
Rakesh Brother for the following items, which can be dispatched form
any godown.
Lux soap 50 Pcs @19/- Dettol 50 Bottle @52/- Premium soap
25 Pcs @58/-
8. According to the Order (Order No: ord/500) goods have been delivered
on 2-7-2013 from Delhi Gate Godown to Takesh with Challan No:ch/500.
9. State bill has made on 2-7-2013 and sent to Rakesh Brothers against the
Challan No: ch/500.
10. Order sales (bill no:501) made including trade discount @1% on 2-7-
2013 with the following items from Delhi Gate godown.
Lux soap 25 Pcs @40/- Ami 50 Bottles @35/-

Analysis:- Purchase A/C Rs. 10,200/-

Sales A/C Rs. 10,197.50/-

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Assignment On Inventory
On 1st April Started Business with cash :- 50,00,000/-
On 2nd April, Deposit Cash into HDFC Bank:- 30,00, 000/-
On 31st May, Purchased the Following good from “RBC LTD”, Bill No:-
Ac/15
STOCK ITEM PEN DRIVE 4GB MOUSE PRINTER DESK
STOCK GROUP: ELECRONIC GOOD ELECRONIC GOOD ELECRONIC GOOD
STOCK CATEGORY HP HYTECH HP
GODOWN EDL SHOWROOM EDL SHOWROOM EDL SHOWROOM
PART NO: 4GB SLIM PS2 7620 CN07CCD
DESCRIPTION: TOW YEAR WARRANTY 6 MONTHS WARRANTY ONE YEAR
WARRANTY
REMARK: CONDITIONAPPLY ON WARRANTY
QUANITITY: 400 PCS 500 PCS 100 PCS
STANDARD COST: RS 300/- RS 150/- RS 1500/-
{Hint:- press F12 configuration from stock item creation , Allow advance
entries in master part no: Description ,remark, standard, rates:- Yes}

1st June, Company sold the following goods to “WTO LTD” Bill No: sales/101 30
days credit per
STOCK ITEM PEN DRIVE 4GB MOUSE PRINTER DESK
QUANTITY 100 PCS 150 PCS 40 PCS
SELLING PRICE RS 350/- RS 200/- RS 2000/-
{Hint: In Inventory info > item > alter > standard rate- Yes}

2nd June, Purchase from ”Sail” bill No: rd/85 30 days credit period.
STOCK ITEM SKIPPING ROPE TENNIS RAQUET BADMINTON
RAQUET
STOCK GROUP: SPORTS GOODS SPORTS GOODS SPORTS GOODS
STOCK MADE IN CHINA YONEX YONEX
CATEGORY:
GODOWN: PACIFIC SHOWROOM PACIFIC SHOWROOM PACIFIC SHOWROOM
PART NO: MODEL NO. LS146 S-FIT1 NANO SPEED 9900
DESCRIPTION: DIGITAL WITH PULSE G-5 GRIP G-3 GRIP
METER
REMARK: NO WARRANTY
QUANTITY 1000 PCS 300 PCS 600 PCS
STANDARD COST: RS. 50/- RS. 1500/- RS. 1750/-
AND SALE PRICE: RS. 95 RS. 2000/- RS. 2500/-
ADE DIS. 10% 5% 2%

1ST Aug, sold to “ASBC”. Bill no:- sales/102 30 days credit period.
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STOCK ITEM SKIPPING PEN DRIVE TENNIS BADMINTON MOUSE PRINTER
ROPWE 4GB RAQUET RAQUET DESJET
QUANITITY 100 PCS 10PCS 50PCS 30PCS 45PCS 20PCS
TR.DISCOUNT 5% 5% 5% 5% 5% 5%

1ST Aug, make payment to RBC Ltd (Discount Received-15%) by HDFC Cheque.
Sep, only 80% could collect from WTO Ltd by cash (Bad debt 20%)
Sept, withdraws form HDFC Bank for personal use Rs. 1 Lakh.

Balance Sheet:- 65,14,950 Gross Profit:-90,700 Net Profit:-1,13,450

Cash:-

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Assignment {Discount + Inventory}
Opening balance:
Assets:-cash in Hand:-Rs8,500 Cash at Bank:Rs1,40,000
Opening stock:-Rs.2,20,000 Furniture and Equipment:-Rs3,00,000
Debtors:-Mohan Rs 30,000, Deep Chand Rs 24,000
Liability:-Due to Sumit Rs 15,000
Purchase Form Rahul:- 300 Mtr Cotton @Rs 60 per mtr
500 Mtr Silk @Rs 120 Per mtr
Less:- Trade Discount @ 10%
Sold Goods to Suraj:- 60 Mtr Silk @Rs 150 Per mtr
100 Mtr Cotton @Rs 70 Per mtr
Less:- Trade Discount @ 12.50%
Suraj Returne4d 40 Mtr Cotton @Rs 61.25.
Withdraw form Bank Rs. 20,000.
Received Amount from Mohan by Cheque, after Allowing Discount of 3%.
Sold Goods to Vinita for cash Rs. 10,000.
Paid to Rahul by Cheque of Rs 45,000, Discount Allowed by him Rs.200.
Paid to sunil Rs. 14,850 after Receiving Discount of 1%.
Company owner took away 5 Mtr of silk Costing Rs 100 Per Mtr for his
personal use.
Paid Rent by Cheque Rs 2,000.
Received from Suraj of Rs 11,000 In full Settlement For his Account.
Old Newspaper sold for cash Rs 400.
Paid Stationery And Postage Rs 500.
Sold 400 Mtr Silk @ 160 per mtr to Mr Gaurav.
Received Cash Rs 40,000 from Mr Gaurav and Also a bill Received from him for
the Balance Amount Due Form him For 2 Months.

Analysis:-
Cash in Hand:-58,550 Cash At Bank:- 10,200
Purchase:-70,200 Sale:-74,000
Bill Receivable:-24,000 Bill Payable:-25,000

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Assignment – Order
John player’s Garment Company
1. Opening Balance of Stock
Straight Jeans @Rs 700/-
Nero Pants @Rs 700/-
2. (A) Purchase order of Park Avenue Company (order no-PA1002)
Shirt 150 Pcs @Rs 500/-
Jeans 110 Pcs @Rs 600/-
Trousers 120 Pcs @Rs 500/-
Tie 100 Pcs @Rs 100/-
(B) Receive Stock form Park Avenue Company but bill not Receive.
(as per purchase order ) and (new tracking no. 101)
(C) Rejection out To Park Avenue Company ( agnt tracking no.101)
Shirt 10 Pcs @Rs 500/-
Jeans 10 Pcs @Rs 600/-
Trousers 5 Pcs @Rs 500/-
Tie 10 Pcs @Rs 100/-
(D) Enter record Net Purchase in Purchase voucher
(Against Tracking no & order no)
(E) Paid Cheque to Park Avenue Company of Rs. 1,96,500/-

(F) Sales Order to Anand Store. (order no. AS1001)

Shirt 80Pcs @Rs 550/-
Trousers 80Pcs @Rs 600/-
Tie 50 Pcs @Rs140/-
Nero pants 70 Pcs @Rs 550/-
Straight jeans 60 Pcs @Rs 800/-
(G) Delivery Stock to Anand Store bill not made.
(as per sales order) and (new tracking no.201)
(H) Rejection in from Anand Store.
15 Shirt Pcs @Rs 550/-
20 Trousers Pcs @Rs 600/-
5 Tie Pcs @Rs 140/-
Enter Net Sales in Sale Voucher
(I) Receive Cheque from Anand Store of Rs. 1,64,550/-

(J) Sales order to Vishal Store (order No. VS1003).

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90 Shirt Pcs @Rs 500/-
100Trousers Pcs @Rs 600/-
60 Tie Pcs @Rs 140/-
80 Jeans Pcs @Rs 800/-
50 Straight Jeans Pcs @Rs 800/-
(K) Delivery Stock to Vishal Store but bill not made.
{As Per sales order } and {new tracking no.203}
(L) Rejection in From Vishal Store
5 Shirts Pcs @Rs 550/-
15 Trousers Pcs @Rs 600/-
8 Tie Pcs @Rs 140/-
10 Jeans Pcs @Rs 800/-
(M) Enter Net sales in Sales Voucher
(N) Receive Cheque from Vishal Store of Rs.2,01, 030/-
(O) Purchase order to Reebok Company (order no-RC1004)
150 Shirt Pcs @Rs 400/-
110 Jeans Pcs @Rs 500/-
(P) Receive Stock From Reebok Company but bill not made.
{As Per purchase order} and {new tracking No.}
(Q) Rejection out to Reebok Company{agnt tracking no.}
10 Shirt Pcs @Rs 400/-
30 Jeans Pcs @Rs 500/-
(R) Enter record Net Purchase in Purchase voucher.
{Agnst Tracking no. & Order No.}
(S) Paid Cheque to Reebok Company of Rs. 96,000/-

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Assignment – Vat
Ques.1 (Simple Vat)
Create the Company with the following details:
Financial Year:- 2013-14 State:- Delhi
No:- 11 digits (0774563214) Type of dealer:- Regular
{Hint:- GOT > F11 > Statutory and Taxation > Unable value added tax- yes)

Opening Cash Balance as On 1-4-2013 :- Rs.6 lakh

On 1st April, Purchase the following goods from :”HEAVEN PVT.LTD.” On Credit.
{Bill no:- ST45} Input Vat @ 5%.
S.NO ITEM QTY. RATE VAT RATE
1 Bicycles 300 Pcs Rs 3700/- PCs 5%
{Hint: At Purchase screen > F12 > Use Common Ledger Allocation-Yes}

On 1st April, Sold to “PLUTO ENGINEERING WORKS” On Credit.{Bill

no:PEW/163}
S.NO ITEM QTY. RATE VAT RATE
1 Bicycles 295 Pcs Rs 5000/- Pcs 5%
Output Vat @ 5%

Ques:2 (Purchase/sale exempt)

On 1st April, Purchase the following goods form “MANISH” on Credit { Bill No:-
14}
S.NO ITEM QTY. RATE VAT RATE
1 Bread 600 Pkt Rs 8/- Pkt Nil(EXEMPT)

1ST May, Sold to “KINGSTORE” on Credit ( Bill No:- KS-91)

S.NO ITEM QTY. RATE VAT RATE
1 Bread 450 Pkt Rs 10/- Pkt Nil(EXEMPT)
Note:- Vat is not Charged on Goods

(Vat Multi Rate)

On 1st May, Purchase the following goods from “QUEEN FIRM” on Credit. PCS
{Bill No:- VAT 005}
ITEM ITEM QTY. RATE VAT RATE
1 PEN DRIVE (4GB) 98 PCS RS. 450/- PCS 5%
2 COMPUTER 50 PCS RS. 18,000/- PCS 12.55%
3 GOLD CHAIN 5 PCS RS. 5,000/- PCS 1%
{Hint:- At Purchase screen > F12 > use Common Ledger Allocation – No}

On 2nd May, Sold to “KINGSTORE” on Credit. {Bill No:- KS-92}

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ITEM ITEM QTY. RATE VAT RATE
1 PEN DRIVE (4GB) 90PCS RS. 470/- PCS 5%

2 COMPUTER 50 PCS RS. 20,000/- PCS 12.55%

3 GOLD CHAIN 5 PCS RS. 7,000/- PCS 1%

Check Vat Computation report of 1st Quarter (April-June)

{> GOT > DISPLAY > STATUTORY > VAT REPORT > VAT COMPUTATION}
Assessable Tax Vat Assessable Tax
Value Value Value Value
@1% 35,000 350 Input Vat @1% 25,000 250
12.5% 10,00,000 1,25,000 Input Vat @12.5% 9,00,000 1,12,500
@5% 15,17,300 75,865 Input Vat @5% 11,54,100 57,705
Vat Payable 30,660 Vat Refundable 0

Ques. 3(Packing Expenses)

On 1st July, Purchase the following goods from “Little Master” On Credit { Bill
No:- 1001}
S.NO ITEM QTY. RATE VAT RATE
1 Television LCD 30 Pcs Rs 17,000/- Per Pcs 12.5%
Chargers: Rs. 5,000/-
Create the Ledger “Packing Expense” Under INDIRECT EXPENSES
Assessable Calculation: Yes Apportion For: Vat
Method of Apportion: Based on Quantity

On 1st July, Sold to “Green Valley” On Credit . {Bill No: 045}

S.NO ITEM QTY. RATE VAT RATE
1 Television LCD 19 Pcs Rs 25,000/- Per Pcs 12.5%
Charges:- Rs. 8,000/-
On July, Purchase the following goods from “Abc Ltd” On Credit: {Bill No:462}
ITEM ITEM QTY. RATE VAT RATE
1 PEN DRIVE (4GB) 20PCS RS. 500/- PCS 5%

2 COMPUTER 50 PCS RS. 22,000/- PCS 12.55%

Charges:- Rs. 2,000/-
3 Pcs Television LCD Return to “Little Master”
F12 Configuration-Activate “Use for” field during entry to- Yes }
In Debit Note:- Underclass: Purchase return or Rejected out}
Little Master:- 57,875 To Purchase 12.5%:- 51,000 To Input Vat12.5%:-
6,375

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Assignment- Tax Collected at source-{TCS}

ENTER TCS COLLECTOR DETAILS
TAX ASSESSMENT NUMBER WSCG12345A
INCOME TAX/CIRCLE WARD{TDS} DSCL-532
COLLECTOR TYPE Government
NAME OF RESPONSIBLE PERSON XYZ
DESIGNATION Charted Accountant
LEDGERS:-

S.NO LEDGERS UNDER NATURE OF PAYMENT

1 TCS On Tendu Leaves Duties & Tendu Leaves
2 TCS On Scrap Taxes Scrap
3 TCS On Alcohol Alcoholic liquor for Human
consumption
4 TCS On Timber Timber obtain under for lease
5 Output Vat @ 12.5% Vat

S.NO LEDGERS UNDER DEDUCTEE TYPE

1 Dutta & Comp. Sundry Individual/HUF- Resident
2 Mehra & Comp. Debtors
3 Chaudhary & Comp.
4 Sales @ 12.5% Sales
Stock Items:-

S.No ITEMS UNIT

1 Tendu Leaves Kgm,{Kilogrammes}
2 Scrap Kgm,{Kilogrammes}
3 Alcohol Btl,{Bottles}
Entries:-

Sold Tendu Leaves to Mehra & Comp. 120Kgs @Rs. 500/-

Sold Scrap to Chaudhary & Comp. 150Kgs @RS. 400/-
Sold Alcohol to Dutta & Comp. 200Kgs @Rs. 150/-
Received Amount from Mehra & Comp.
Received Amount from Chaudhary Brothers.
Received Amount from Dutta & Comp.

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Sold Timber to Ganesh at Lower Rate @1.5% and Vat also charged 50 Kg @Rs.
8,400/-
Hint:- At Time of Party Ledger Creation
Is TCS Applicaion to YES?
Is Lower/No Collection Applicable? To Yes
Selection Number 206C
Specify 1.5% in TCS Lower Rate(%)
Ignore Surcharge Exemption Limit to No.
Note:- TCS is calculated at Lower rate (1.5%) and not at all the regular rate of
2.5% Ensure

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Assignment
Company madhav it solutions Purchased item from Manik Techanicals with
from Manik Technicals with order no.(SHIVIA)
a) Microwaves 23 Ltrs 30 Pcs
b) Refrigerator 300 Ltrs 25 Pcs
c) Color LED TV 21 Inch 51 Pcs
d) Juicer Mixer Grinder 41 Pcs
e) Vacuum Cleaner 19 Pcs

Manik Technicals give the Receipt note on behalf of order no. They give the
receipt note no.(NR 148) and give the pieces of
a) Microwaves 32 Ltrs 15 Pcs
b) Refrigerator 300 Ltrs 10 Pcs
c) Color LED TV 21 Inch 14 Pcs

Company receives another receipt note (NR 158) and receives the pieces of
a) Color LED TV 21 Inch 12 Pcs
b) Juicer Mixer Grinder 29 Pcs
c) Vacuum Cleaner 9 Pcs

Company receives another Receipt note (NR 168)

a) Microwaves 23 Ltrs 9 Pcs
b) Refrigerator 300 Ltrs 4 Pcs
c) Color LED TV 21 Inch 15 Pcs

Company receives another receipt note (NR 178)

a) Color LED TV 21 Inch 10 Pcs
b) Juicer Mixer Grinder 6 Pcs
c) Vacuum Cleaner 5 Pcs
And Receives the another receipt note (NR 186) and purchased the remaining
items.

After receiving the receipt note company find the default in 2 Pcs of
refrigerator of Receipt note of (NR 148), 6 Pcs of juicer mixer grinder and 4 Pcs
of Color LED TV 21 Inch by Receipt Note no (NR 158) and 3 PCs of Microwaves
23 Ltrs and 2 Pcs Refrigerator form Receipt not no(NR 168)
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Company Purchased the Remaining no of items form Receipt note no

a) Microwaves 23 Ltrs @ Rs 36,000
b) Refrigerator 300 Ltrs @ Rs 15,000
c) Color LED TV 21 Inch @ Rs 20,000
d) Juicer Mixer Grinder @ Rs 11,500
e) Vacuum Cleaner @ Rs 10,000

After Purchasing the item company find problem in 2 Pcs of Color LED TV 21
Inch from Receipt note no. (NR 148) and gave debit note (ND 540) To Manik
Technicals.

Company made all Payment to the Manik Technicals

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Assignment of VAT
LEDGERS UNDER TYPE OF DUTY VAT/ TAX CLASS
Input vat @1% Duties & Taxes VAT Input vat @1%
Input Vat @ 4% Duties & Taxes VAT Input Vat @ 4%
Input Vat @ 12.5% Duties & Taxes VAT Input Vat @ 12.5%
Output Vat @ 1% Duties & Taxes VAT Output Vat @ 1%
Output Vat @ 4% Duties & Taxes VAT Output Vat @ 4%
Output Vat @ Duties & Taxes VAT Output Vat @ 12.5%
12.5%

LEDGERS UNDER Used in Vat Vat/Tax Class

Returns
Purchase @ 1% Purchase A/C Yes Purchase @ 1%
Purchase @ 4% Purchase A/C Yes Purchase @ 4%
Purchase @ 12.5% Purchase A/C Yes Purchase @ 12.5%
Purchase Exempt Purchase A/C Yes Purchase Exempt
Sales @ 1% Sales A/C Yes Sales @ 1%
Sales @ 4% Sales A/C Yes Sales @ 4%
Sales @ 12.5% Sales A/C Yes Sales @ 12.5%
Sales Exempt Sales A/C Yes Sales Exempt
Voucher Entries
Purchase Voucher (F9)
1. 5 Wagon R Cars Purchased from Maruti Automobiles on Credit with 4%
of VAT.:-4,00,000/-
2. 10 Santro cars Purchased from Hyundai on Credit:-3,50,000/-
3. 8 Indica Cars Purchased by cash with 4% Vat:- 5,00,000/-
4. 5 Sumo cars Purchased form Tata Automoblies on Credit with 1% Vat :-
3,00,000/-
5. 2 Indica cars Purchased from Tata Automoblies on Credit:- 40,00,000/-
6. 2 Esteem Cars Purchased by cash with 12.5% of Vat :- 2,50,000/-
7. 2 Esteem Cars Purchased from Maruti Automoblies on Credit with 12.5%
of VAT.:- 30,00,000/-
Sales Vouchers (F8)
1. 2 Santro sold to Vicky Automoblies on credit with 1% Vat :- 40,00,000/-
2. 1 Sumo sold to Bagga Automoblies on credit with 4% Vat:- 3,20,000/-
3. 2 Santro car sold by cash with 1% of Vat:- 4,00,000/-
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4. 2 Esteem sold to Vicky Automoblies on credit with 12.5% Vat :-
3,00,000/-
5. 1Indica sold to Bagga Automoblies on credit with 4% Vat:-60,00,000/-
6. 2 Wagon R sold to Vicky Automoblies on credit with 4% Vat :- 5,00,000/-
7. 1 Wagon R sold by cash with 4% Vat:- 5,00,000/-
Receipt Voucher (F6)
1. Received Rs. 7,00,000 from Bagga Automoblies by cash.
2. Received Rs. 8,00,000 form Vicky Automoblies by SBI Bank.
3. Received Rs. 3,50,000 from Begga Automoblies by SBI Bank.
Payment Voucher (F5)
1. Paid to Maruti Automoblies Rs. 1.00.000 By SBI Bank.
2. Paid to Hyundai Automoblies Rs. 1,50,000 by Cash.

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Assignment on Journal Entries

1. Anurag started business with cash as Rs.1,00,000/-

2. Bought goods for cash Rs. 5,000/-

3. Drew Cash from Bank Rs 1,000/-

4. Sold goods to Krishna on Credit of Rs. 1,500/-

5. Bought from shyam goods on Credit Rs. 2,000/-

6. Receive From Krishna Rs. 1,500/-

7. Sold goods to Mohan Rs. 22,000/-

8. Paid for Advertisement Rs. 1,200/-

9. Purchase Stationery for Cash Rs. 200/-

10. Goods Purchase form Shyam Rs. 31,500/-

11. Purchase computer form Gaurav Computer of Rs. 35,000/-

12. Paid Cash for Salary Rs. 5,000/-

13. Paid rent by Cheque Rs. 4,000/-

14. Purchase Furniture of Rs80,000/- and Payment made by Cheque.

15. Paid Wages Rs. 30,000/-

16. Purchase land & Building for Cash 50,000/-

17. Sold goods on Credit to Ramesh Rs. 1,60,000/-

18. Received Rs. 1850/- From Vicky Infotech . In Full Settlement of his

Account for Rs. 2000/-

19. Paid bank Charges Rs.1,200/-

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20. Purchase land & Building from Satish properties on credit Rs. 200000/

21. Paid to Rs. 900/- to Shiva. In Cash in Full Settlement for Rs. 1000/-

22. Old newspaper sold Rs. 500/