Enter the following transactions of AB Ltd Tally and show various reports

Balance Sheet as at 31st March, 2018

Liabilities Amount (₹) Assets Amount (₹)
Capital 2,75,000 Land and Building 2,20,000
Sundry creditors 1,45,000 Furniture 47,000
Reserve and surplus 2,10,000 Investment 80,000
Bank Loan 1,90,000 Sundry debtors 1,65,000
Secured Loan 2,40,000 Cash in hand 32,000
Profit and Loss A/c 25,000 Bank of Commerce 1,60,000
Debentures 1,62,000 Machinery 50,000
Outstanding salary 7,000 Stock 5,11,000
Bills Payable 11,000
Total 12,65,000 Total 12,65,000
The company deals in the following items
Stock Item Group Rate (₹) Quantity Amount (₹)
Samsung S5E Tablet 16,000 12 1,92,000
Nokia 3310 Mobile 4,000 10 40,000
Samsung Galaxy M40 Mobile 19,000 9 1,71,000
Sony 4G tablet Tablet 18,000 6 1,08,000
The list of company debtors and creditors is as follows:
Debtors Balance due (₹) Creditors Balance due (₹)
Aman 45,000 Pradeep 38,000
Raman 62,000 Sanjay 34,000
Ramesh 58,000 Rahim 73,000
Total 1,65,000 Total 1,45,000
Record the following transactions that take place during the year 2018-19:
Date Transaction
15- Apr Purchases from Sanjay 3 Sony 4G Tablets for ₹ 51000 & 5 Nokia 3310 Mobiles for ₹ 25,000
2- May Purchased from Rahim 2 Samsung S5E Tablets for ₹ 28,000 by paying cash
22- May Goods returned to Sanjay (1 Sony 4G tablet)
4- Jun Cash withdrawn from bank ₹ 8000
12- Jun Sold 2 Samsung S5E tablets for ₹ 40,000 To Aman
6- Jul Salary paid (including outstanding salary) in cash ₹ 29,000
26- Aug Sold 3 Samsung Galaxy M40 for ₹ 63,000 for cash
8- Sep Raman declared insolvent. Only 80 Paise in a rupee recovered from his estate in cash
22-Oct Paid cash to Pradeep ₹ 36000 as full and final settlement
11- Dec Commission received in cash ₹ 60,000
29- Jan Received in cash ₹ 82,000 from Aman as full and final settlement
14- Mar Paid by cheque
1. General expenses ₹ 4500
2. Electricity bill ₹ 5000
31- Mar Depreciate Furniture and Machinery @10% p.a.
31- Mar Paid Rent in cash ₹ 12000. Rent worth ₹ 3000 is still outstanding`

You are required to:

1. Create a company as per details given above
2. Create appropriate groups and Ledger Accounts.
3. Enter the transactions as given selecting appropriate voucher type.
4. Display the following statements for the year ended 31st March, 2019:
a. Profit and Loss Account
b. Balance Sheet