B.

COM SEMESTER -1 - TALLY PRACTICAL EXAM

Academic Session: 2022 — 2023

NAME OF STUDENT…………………………

ROLL NUMBER………………………………

Company Details: The Company is based in Delhi.

Company name: Student name followed by your examination Roll Number.
Address: 123, first floor, malviya nagar, new delhi-110047
Phone Number : 9999999999
Email Id: hansrajcollege@hrc.du.ac.in
GSTIN: 07GGGGG1314R9Z6
Rate of tax : 12%
NOTE: All transactions related to Receipts and Payments have been done through Bank.

Balance Sheet as at 31-3-2023

Liabilities Amount Assets Amount
(In

Capital 25,00,000 Land & Building 25,00,000

General Reserve 35,00,000 Plant & Machinery 30,00,000

Profit & Loss A/c 4,00,000 Investment 1,40,000

(Face Value: Rs,1,00,000)

10% Debentures 4,00,000 Stock 5,00,000

(Secured)

Sundry Creditors 3,00,000 Sundry Debtors 2,50,000

Provision for Tax 2,75000 Bills Receivable 60,000

Outstanding Salary 25,000

State Bank of India 9,00,000

Cash in Hand 50,000

Total 74,00,000 Total 74,00,000

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Details of Stock on 31/03/2023. GST Applicable for Shirts and Trousers is 12%.
Name of the Items Group Quanti Rate Value
ty (In
Pcs)
ABC Shirt Cotton Cotton 400 ? 140,000

ABC Shirt Wollen Wollen 300 400 ?

ABC Shift Terricot Terricot 75 200 15,000

XYZ Trouser Cotton Cotton 200 450 90,000

XYZ Trouser Wollen Wollen 250 500 ?

XYZ Trouser Terricot 40 250 10,000

Terricot

Lists of the Company's Debtors and Creditors as of 31/03/2022 are as follows:

Sundry Debtors Amount Sundry Creditors Amount

B Ltd. of Delhi 80,000 M Ltd. of Delhi 1,00,000

G Ltd. of Delhi 50,000 S Ltd. of Punjab 60,000

V Ltd. Of De1hi 70,000 A Ltd. of Delhi 80,000

R Ltd. of Haryana 40,000 D Ltd. of Delhi 40,000

C Ltd Of De1hi 10,000 E of Delhi 20,000

Total 2,50,000 Total 3,00,000

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Record the following transactions that took place during the financial year 2022 —
2023. Narrations are not required.
S.No. Transactions

01. Purchase from M Ltd. of Delhi vide invoice no: 27 dated 01 04 2023, 300 pcs of
ABC Shift Cotton @ 360 per pcs amounting to 1,08,000.

02. Sale to G Ltd. of Delhi on 01 05 2023, 200 pcs of ABC Shins Wollen @ 1,000
per pcs amounting to 2,00,000.

03. Sale to R Ltd. of Haryana on 01 06 2023, 100 pcs of XYZ Trousers Cotton @ 2,
100 per pcs amounting to 2, 10,000.

04. Paid Rs. 1,15,000 to M Ltd. on 01/07 2023 in full settlement (including GST)
for the transaction at S. No. I above.

05. Received Rs. 2,30,000- - from R Ltd. on 01 07 2022 in full settlement (including
GST) for their transactions at S. No. 3 above.

06. Purchase from E of Delhi who is an registered dealer vide invoice no: 57 dated
01 08 2023, 100 pcs of ABC Shirt Wollen@ 410 per pcs amounting to 41,000.

07. Sale to C of Delhi who is a customer on 01 10 2023— 10 pcs of ABC Shilts

Tenycot @ 1 680- - per pcs amounting to 15,000.(After Trade Discount)

08. Purchased Land and Building (GST Exempted) from ABC Ltd. of Delhi for Rs.
30,00,000 on 01 12 2023

09. To pay ABC Ltd., the company borrowed from the bank, an unsecured loan of
Rs. 10,00 000 @ 12 % p.a. and issued a fully paid 10% Debentures (Secured) for
the balance on 01/01/2023.

S.No. Transactions

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 10. Sold all the investments on 01 02 2023. 60% of Investments have been sold at a
profit of 50 % of Face Value, and

11. The remaining investments had been sold at a profit of 20 % of book value.

12. Paid on 31/03 2023

(i) Electricity (GST Exempt) 20,000
(ii) Telephone Expenses 16,520
(iii) Salaries (including Outstanding at the beginning) 1,00,000

13. Rent received for the current financial year is Rs.50,000

14. Charge Depreciation for the period 1/4/2022 to 31/03 2023 on Land & building
@5 % p.a. and on Plant & Machinery @ 20% p.a.

15. Provide for income tax provision Rs. 1,50,000

You are required to create a folder on your system on desktop by the your name followed
by Examination Roll Number and record the above transactions and prepare and save
the following in the above folder:
(A) Backup of Tally Data.
(B) Day Book for the financial year 2022 — 2023.
(C) Trial Balance for the financial year 2022 — 2023.
(D) Profit & Loss A/c for the financial year 2022 2023.
(E) Balance Sheet as of 31/03/2023.
(F) GSTR 3B Report for the financial year 2022-2023.