BCom (H), Ist Semester

Financial Accounting (Tally)

Duration: Max Marks:

The company details are as follows:
1. NAME- Your Name (Class Roll No)
2. ADDRESS: your address, your phone & mobile no., your email id.
3. Email id :admin@airwalk.ne.jp
4. Currency symbol: Rs
Enter the following transactions and show reports.

• Purchases and sales of goods, payments to creditors, and receipts from debtors are done through Union Bank
• Any other payment and receipt are done through State Bank of India or Cash

Balance sheet as on 31.03.2017

Liabilities Amount (₹) Assets Amount (₹)

Capital 4,75,000 Land and Buildings 4,00,000
Reserves and Surplus 1,25,000 Furniture 25,000
Secured loan 50,000 Investment 55,000
Bills Payable 30,000 Machinery 50,000
Debentures 75,000 Bills Receivable 25,000
P/L account 2,00,000 Sundry Debtors 85,000
Provision for doubtful debts 20,000 Union Bank 80,000
Sundry Creditors 25,000 State Bank of India 75,000
Outstanding Rent 15,000 Stock 1,46,500
Outstanding Salary 20,000 Cash in hand 93,500
10,35,000 10,35,000
The list of creditors and debtors is given below:

Creditors Amount (₹) Debtors Amount (₹)

Piyush 10,000 Misha 25,000
Rajesh 7,500 Sruti 30,000
Preeti 7,500 Ankita 30,000
The company deals in the following item:

Stock Item Group Rate (₹) Qty Amount(₹)

Titan raga Watch 2200.00 20 44,000
Sonata Wall clock digital Wall clock 1500.00 30 45,000
Mi Band 3 Smartwatch 2000.00 10 20,000
Fastrack Watch 2500.00 15 37,500
Record the following transactions during 2017-2018:

Date Transactions
2.5.2017 Purchases from Piyush goods of list price Rs.1,25,000 less 20 % trade discount and received 2 percent cash
discount on payment of 40 % by cheque (Titan Raga watch, Qty. 50, Rate 2,500)
3.6.2017 Purchases made by cheque -fastrack qty 10 for Rs.35,000
4.7.2017 Goods purchased from Preeti (Mi Band 3, qty.15 for Rs 30,000)
5.8.2017 Sales to Misha for cash (Sonata Wall Clock digital, Qty.20 for Rs.36,000)
6.9.2017 Sales to Ankita Fastrack-Qty. 10 for Rs.30,000
7.9.2017 Sales returns by Ankita qty 2
8.11.2017 Interest received from Bank Rs.25,000
9.12.2017 Received from Ankita Rs.22,000 in full settlement of her account (for transaction dated 6th and 7th Sept)
10.01.2018 Received from Sruti by cheque Rs.28,000
11.02.2018 Purchased Cooler for 3,000 and spent Rs.100 for its installation
31.3.2018 Outstanding rent and salary paid in cheque
31.03.2018 Depreciate Land & Building and furniture by 5 % p.a
You are required to:
1.Create a company as per the details given
2. Create appropriate groups and ledgers
3. Enter the transactions in the appropriate voucher type
4. Display and export the financial statements for the year-end 2017-2018