Practical File

For

Basic Accounting Software

BCOM- 211

SEMESTER- 3RD

SUBMITTED BY:

R U PSinghal
NAME: Sahil IN RUSTAGI

03114788822
ENROLLMENT NO: 03114788821

SEMESTER: 3RD

CLASS: 3A

SUBMITTED TO: Srishti

Dr. Rachita AggarwalProfessor
garg, Assistant ,Assistant Professor

Department of Commerce
Maharaja Agrasen Institute of Management Studies
Affiliated to Guru Gobind Singh Indraprastha University, Delhi
Sector -22, Rohini, Delhi -110086, India; www.maims.ac.in

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 INDEX
S.NO TOPICS PG
NO
1. Creating a company 3
2. Alteration, Deletion, Shutting down company 7
3. Steps For creating groups and ledgers 11
4. Creating Groups 18
5. Creating Ledgers 20
6. Ledgers in a GST enabled Company 22
7. Vouchers In Tally 25
8. Journal Entries 31
9. Voucher Types 33
10. Memorandum Voucher, Reversing Journal 36
11. Journal Entry 41
12. Creation, Alteration, Deletion of Stock Groups, Stock Items, 43
Units
13. Creation, Alteration, Deletion of Stock Categories, Godown 50
14. Entry of Stock Groups, Stock Categories, Stock Items 55

15. Creation and usage of Inventory Vouchers 59

16. Entry of Inventory Vouchers. 64
17. Creating Stock groups, Stock Items, Units, Stock Categories 65
18. Backing Up Tally 69
19. Restoring data in Tally 71
20. Bank Reconciliation System in Tally 73
21. Exporting Of Data 75
22. Importing Of Data 78
23. Accounting Ratios 80
24. Interest Calculations 81
25. Bills Of Materials 85
26. Exception Reports 87
27. Generate and Print reports in Tally 89
28. National Traders Transaction 91
29. Journal Entry 94
30. Journal Entry 96

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 TALLY PRIME
ASSIGNMENT 1
CREATING A COMPANY
Q.1 Write down the necessary steps for creating a new company in Tally along with
necessary screenshots. Create 5 companies in Tally with your name.

SOLUTION:
STEP 1: Open the software Tally Prime.

STEP 2: Click on Create Company and a new window will open.

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STEP 3: Now fill the data respectively.

STEP 4: After accepting “yes”, a new window will open stating Company created
successfully. And fill the data.

Rupin_03114788822

STEP 5: After accepting “yes” again, Gateway of Tally will open now.

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STEP 6: Now similarly create 4 more companies.

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 ASSIGNMENT 2
ALTERING, DELETING, SHUT DOWN
Q.1 Write down the necessary steps for Alteration, Deletion and Shutting down a company in
Tally along with necessary screenshots.
SOLUTION:
STEP 1: Click on K: Company on the left hand side and choose option “ALTER”. A window
will appear asking which company to alter and choose and press enter.

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Rupin
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STEP 2: Deleting a company. Click on K: Company on left hand side corner and click on
alter. Select a company and click on “ALT+D” on keyboard. The company would be deleted.

STEP 3: Shutting down company. Click on K: Company on the left hand side. Now click on
shut option. A window will appear and choose the company to shut down. That company will
shut down.

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 ASSIGNMENT 3
CREATING GROUPs & LEDGER

Q.1. Write down the steps along with screenshots for creating groups and ledgers in Tally.
Also show and explain in detail the already existing groups and ledgers in Tally.

SOLUTION:

STEP 1: Open Tally prime and after creating a company, go to the Gateway of Tally and go
to Chart of Accounts.

STEP 2: After Clicking on it, a window will appear, called List of Masters. There would be
Accounting Masters, click on Groups.

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STEP 3: After opening the Groups, a list of groups will appear. This is the list of 28 different
groups. These are the already added groups in the tally prime.

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STEP 4: Now for the Ledgers, again to the Gateway of tally. Then click on Chart of
Accounts. After clicking on it, the list will appear again. Now click on Ledgers in Accounting
Masters.

STEP 5: A window will open, and on the right side there is a tab, Ledger’s view. Click on
that.

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STEP 6: After clicking on that, a window will appear. Two already recorded ledger will
appear.

STEP 7: Now for creating Ledger, Click on Create in Gateway of Tally.

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STEP 8: A table will open and fill the data accordingly. After finishing it accept it.

STEP 9: After creating, go back to the Chart of accounts. Click on ledger then on ledger view
and your ledger would be shown.

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STEP 10: For Creating a Group, go to the Gateway Of tally. Click on create, then on groups.

STEP 11: A new window would open, and fill it accordingly and then accept yes.

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STEP 12: After accepting yes, Go to the Chart Of accounts and then on groups. Your newly
Created Group is now shown.

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 ASSIGNMENT 4
Creating Groups According to the Table

Ques.1) Create the following Accounting Groups:

Name of the Group Under
North India Debtors Sundry Debtors
South India Debtors Sundry Debtors
North Delhi Debtors North India Debtors
Bhopal Debtors North India Debtors
Mysore Debtors South India Debtors
Secunderabad Debtors South India Debtors
Paste Appropriate screenshots of all the groups.
Ques.2) Create the following groups under groups creation option:
Name of the Group Under
Buildings Fixed Asset
Union Bank of India Bank Accounts
Machinery Fixed Asset
Employee expenses Indirect Expenses
Calcutta Office Branch and Divisions
Office Equipment Fixed Assets
Paste Appropriate screenshots.

SOLUTION:
STEP 1: Create the groups according to Table 1 given in the question.

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STEP 2: Create the groups according to Table 2 given in the question.

The final Group window would look like this.

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 ASSIGNMENT 5
LEDGERS IN TALLY

Ques.1) Create the following Ledgers in Tally under single ledger creation option:
Ledger Name Under Opening Balance Dr./Cr.
Proprietor’s Capital Capital Account 25,000 Cr.
Account
Land & Building Fixed Assets 60,000 Dr.
Milton & Co. Sundry Debtors 15,000 Dr.
Kaltronic Ltd. Sundry Creditors 85,000 Cr.
State Bank of India Bank Accounts 35,000 Dr.
Local Sales Sales Accounts - -
Local Purchases Purchase Accounts - -
Conveyance Indirect Expenses - -
Bank Interest Indirect Incomes - -
Paste Appropriate Screenshots.

SOLUTION:

STEP 1: Go to create from Gateway of Tally, click on ledgers and create the following.

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 ASSIGNMENT 6
CREATING LEDGERS IN A GST ENABLED COMPANY
Q1. According to the picture:

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 ASSIGNMENT 7
VARIOUS TYPES OF VOUCHERS
Ques.1) Explain in detail using appropriate screenshots about all the vouchers in Tally. Give
details of
 Various types of vouchers
 Voucher creation under single entry and double entry mode
 Short cut keys for creating vouchers
SOLUTION:

1. Payment Voucher: Payment voucher in accounting vouchers in tally

records all business transactions related to Payment. Any payment made
by the company through cash, cheque, online payment or any other mode
comes under this voucher type

(Double entry)

Single entry

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2. Contra Voucher : In contra voucher, all the company’s transactions
include deposits or money withdrawal from its bank account. The entry is
made in this voucher if the amount is transferred from bank to bank or
cash to cash.

(double entry)

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 Single Entry

3. Receipt Voucher: The Receipt voucher under accounting vouchers in

tally records all money transactions received by the company. The
amount received could be in the form of cash, cheque or online.

(Double entry)

Single Entry

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4. Journal Voucher: Tally’s inventory and accounting vouchers, users can
use it as an optional voucher in Tally to make sales and purchases. An
accountant can also use it to adjust or transfer stock from one warehouse
to the other and for tax calculations and tax adjustment entries.

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5. Purchase Voucher: In this voucher, all the transaction related to company
purchases is recorded. The purchase can be made in cash or borrowed or
in the form of goods and services.

6. Sales Voucher: It is one of the most used accounting vouchers in tally.

Accountants can create two different formats, such as invoice and
voucher in this type. Sales voucher records all sales transactions of the
company in credit or cash. In vouchers, one can store transactional
records electronically and print them for customers.

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 Shortcut Keys:

 Contra – F4
 Payment – F5
 Receipt – F6
 Journal – F7
 Sales – F8
 Purchase – F9
 Credit note – alt+F6
 Debit note – alt+F5

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 ASSIGNMENT 8
JOURNAL ENTRIES
Q.1 Pass journal entries for the following transactions:
Transaction details Amount (Rs)
Started business with cash 5000
Purchased furniture in cash 500
Opened a Bank Account 1000
Goods Purchased in Cash 2000
Goods sold in Cash 1500
Goods purchased on credit from Roy 3000
Paid salaries 800
Paid rent by cheque 500
Goods sold on credit to Bose 1800
Cash paid to Roy 2500
Cash collected from Bose 1500
Cash deposited in Bank 1600
Cash withdrawn for Household Purposes 500
Cheque drawn for office purposes 1000
SOLUTION:

These are the following Screenshots:

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 ASSIGNMENT 9
VOUCHER TYPES
Q.1 How to create different Voucher types in Tally. Explain with the help of
screenshots and steps.

SOLUTION:

STEP 1: Go to create in the Gateway of tally.

STEP 2: Then click on Voucher types.

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STEP 3: Click on Voucher Type Creation and create a voucher type.

STEP 4: Your Voucher is created.

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 ASSIGNMENT 10
Q.1 How to enable/disable Memorandum Voucher, Reversing Journal in Tally. Explain
their purpose. What is the use of Post Dated and Optional Vouchers in Tally. Explain with
the help of example and screenshots.

STEP 1: Go to Vouchers from Gateway of Tally.

STEP 2: Open the list of vouchers and enable the memorandum voucher.

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STEP 3: Click on yes and see on the list of voucher to see whether it is
activated.

STEP 4: To disable it go to Voucher types and select the memorandum a tab

will appear.

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STEP 5: Do the same and Reversing Journal will also be activated.

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STEP 6: For Post Dated, look at right corner of the memorandum voucher and
click on postdated.

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 ASSIGNMENT 11
JOURNAL ENTRIES

Here are the following screenshots:

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 ASSIGNMENT 12

Q.1 Write down the necessary steps for Creation, Alteration, Deletion of Stock
Groups, Stock Items and Units of Measure in Tally.

SOLUTION:
STOCK GROUP:
STEP 1: Go to create on gateway of tally.

STEP 2: Go to Stock Groups.

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UNIT:
Step 1: Go to unit in create.

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STOCK ITEM:

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FOR ALTERATION OF STOCK GROUP, STOCK ITEM & UNIT

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FOR DELETION OF STOCK GROUP, STOCK ITEM AND UNITS
STEP 1: Go to Chart of accounts and select accordingly and click on alt+d

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 ASSIGNMENT 13

Q.1 Write down the necessary steps for Creation, Alteration, Deletion of Stock Categories
and Godown in Tally.

STEP 1: Go to create from Gateway Of Tally and go to Stock Category.

STEP 2: Go to Alter from Gateway of Tally and do the required alteration.

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FOR DELETION: Go to Chart of accounts and select stock categories and click
alt+d.

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FOR GODOWN CREATION:

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FOR GODOWN ALTERATION:

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FOR DELETION OF GODOWN:

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 ASSIGNMENT 14

Q1. Create Stock groups as given:

Stock group Under Items Addable (Yes/No)
Computers Primary Yes
Printers Primary Yes
Peripherals Primary Yes
Accessories Peripherals Yes
Components Peripherals Yes

Q2. Create Stock categories as follows:

Name Under
National Primary
HCL Primary
IBM Primary
HP Primary
Samsung Primary

Q3. Create following unit of measurement:

Type Symbol Formal Name No. of Decimal Places
Simple Nos Number of 0
Simple Box Boxes 0

Q4. Create following Stock Items as given:

STOCK PARTICULARS COST(RS) On Warehouse TOTAL RETAIL
site VALUE PRICE
Computers
HCL PIV 17500 1 4 Nos 87500 21,500
IBM PIV 17100 - 4 68400 24,785
Peripherals
Accessories
CD ROM DISKA 100S 450 - 5 2250 500
DUST COVERS 35 2 8 350 40
Components
USB PEN DRIVE 16 GB 1250 - 10 12500 1600
WIRELESS KEYBOARD 490 10 15 12250 700
WIRELESS MOUSE 250 10 10 5000 430
Printers
HP LASERJET 8200 0 7 57400 9500
1010SRIES
SAMSUNG LASERJET 8100 0 5 40500 9850
1500

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 ASSIGNMENT 15
CREATION OF INVENTORY VOUCHERS
Q.1 Explain in detail the creation and usage of Inventory Vouchers in Tally.

STEP1: First show inactive inventory vouchers.

STEP 2: Double click on them and activate them.

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1. Delivery Note: A delivery note is a document that accompanies a
shipment of goods. It provides a list of the products and quantity of the
goods included in the delivery.

2. Material In: This voucher type can be used to record the material transfer
In (of Raw materials or Finished Goods) transactions.

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3. Material Out: This voucher type can be used to record the material
transfer out (of Raw materials or Finished Goods) transactions.

4. Physical Stock: Physical Stock Voucher is used for recording the actual
stock which is verified or counted. It could happen that the Book Stocks
and the Physical Stock do not match. It is not unusual that the company
finds a discrepancy between actual stock and computer stock figure.

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5. Receipt Note: A Receipt Note voucher is used to record receipt of
goods/items at stores. For example, the Company receives new stock
item from a Supplier.

6. Rejections In: A Rejections In Voucher is used to record goods that are

rejected and returned by the customer.

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7. Rejections Out: The Rejections Out Voucher records goods that are
rejected and returned to a supplier.

8. Stock Journal: Stock journal is a journal in which all types of stock

adjustments are entered.

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 ASSIGNMENT 16
INVENTORY VOUCHERS
Q. Create Inventory Vouchers for the following transactions:
National Traders-Inventory Transactions for April 2017
Date Transaction Details
1-4-2022 Delivered 1 HCL PIV from On-Site to Spectrum Computers
2-4-2022 Received delivery of 2 HP LaserJet 1010 Series from Silver Plus Computers
2-4-2022 Transferred 2 HCL PIV from On Site to Warehouse
1-5-2022 Returned 1 HP LaserJet 1010 Series (Faulty) to Silver Plus Computers
1-5-2022 Spectrum Computers returned 1 HCL PIV which was ordered incorrectly
1-6-2022 Stock check reveals physical stock of 3 Nos of CD ROM Disks 100s in On Site
Godown

SOLUTION:
Here is the entry of inventory vouchers according to the table.

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 ASSIGNMENT 17
Q. In a different company, Create the following Stock Groups:

Stock Group Name Under Items addable (Yes/No)

Television Primary Yes
Music systems Primary Yes
Sony TV Television Yes
Philips TV Television Yes
Videocon TV Television Yes
Sony Music Systems Music Systems Yes
Videocon Music systems Music Systems Yes
A-1 Sony Sony TV Yes
A-2 Philips Philips TV Yes
A-3 Videocon Videocon TV Yes

Stock Categories:

Stock Category Name Under

29 inches TV Primary
25 inches TV Primary

Unit of Measurement:

Type Symbol Formal name No. of Decimal places

Simple Nos Numbers 0

Stock Items under Televisions as shown in the table:

Name Under Category Units

Sony 29 inches TV Sony TV 29 inches TV Nos
Sony 25 inches TV Sony 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 Videocon TV 29 inches TV Nos
TV
Videocon 25 inches Videocon TV 25 inches TV Nos
TV

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- Videocon Music Not Applicable Nos
Recorder Systems

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 Videocon CD-Player Videocon Music Not Applicable Nos
Systems

Create following Stock items:

Group A-Television
A1-Sony (Sub groups) A1a-Sony 29 inches TV
A1b-Sony 25 inches TV
A2-Philips A2a-Philips 29 inches TV
A2b-Philips 25 inches TV
A3-Videocon A3a-Videocon 29 inches TV
A3b-Videocon 25 inches TV

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SOLUTION:

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 ASSIGNMENT 18
Q.1 Write down the steps for backing up data in Tally. Also show the same with the help of
screenshots.
Solution:

STEP 1: Go to Gateway of tally and press alt+y. The data column will open and click on
backup.

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STEP 2: Then you can also configure the path of data.

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STEP 3: Now after clicking the backup, we have to select companies for backup from list of
companies.

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STEP 4: Press enter and your files would be backed up.

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 ASSIGNMENT 19
Q.1 Write down the steps for restoring data in Tally. Also show the same with the help of
screenshots.
SOLUTION:

STEP 1: Fist go to gateway of tally and click ALT+Y and go to restore. We have already
configured the data path.

STEP 2: Now from the list of companies we have choose the files that need to be restored.

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 rupin_03114788821

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STEP 3: After selecting the files, press enter and files would be restored.

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 ASSIGNMENT 20
Q.1 How can we use Bank Reconciliation Statement in Tally. Explain by taking a good
example of any previous company created. Also use screenshots for the same.
SOLUTION:
Bank Reconciliation: Bank reconciliation in Tally Prime is a process that explains
the difference between the bank balance shown in an organization’s bank statement,
as supplied by the bank, and the corresponding amount shown in the organization’s
own [accounting] records at a particular point of time.
We can do bank reconciliation from two ways:

1.Auto Bank Reconciliation: For banks enabled with the feature of auto
reconciliation in ledger master, the buttons:

 Alt+O (Reconcile Unlinked) and Alt+O (Reconcile All Unlinked) appear on

the right side button bar.
 Alt+V (Delete Unlinked) and Alt+W (Delete All Unlinked) appears on the
button bar above Info Panel.

2.Manually Reconciliation: The Bank Reconciliation option in the Banking menu

enables you to reconcile bank accounts. You can access bank reconciliation to print or
configure the reconciliation statements, according to your requirements .

STEPS TO GET BANK RECONCILIATION:

STEP 1: First Go to any Balance Sheet or Trial Balance and click on the bank you
want to have the bank reconciliation.

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STEP 2: Now click on ALT+R and get the reconciliation statement or either go to Gateway
of Tally and go to Banking and then go to Bank reconciliation and press Enter.

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 ASSIGNMENT 21
Q.1 Explain the process of Exporting of data from Tally with the help of screenshots.

In Tally Prime you can export masters and transactions from anywhere in the product,
without moving out from the screen in which you are working. You can also export the
reports in different formats, as per your business requirements.

Export Masters – For ease of using existing masters in another company.

Export Transactions – For ease of using existing masters in another company, and for
sharing the data with customers. For example, instead of printing the hard copies of
transactions, you can save paper by exporting the transactions and sharing with concerned
persons.

STEPS TO DO EXPORT IN TALLY:

STEP 1: First go to Gateway of Tally and go to the export column(ctrl+E). And configure
the location of Export.

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STEP 2: Now go back and chose accordingly whether to chose from Masters or from
Transactions. And configure them accordingly and your data would be exported.

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 ASSIGNMENT 22
Q.1 Explain the process of Importing of data to Tally from xml file with the help of screenshots.
SOLUTION:
With Tally Prime, you can not only maintain your business data, but also easily import the
masters and transactions from anywhere in the product. You can import the data from the
screen in which you are working, without moving out of your ongoing work.
STEP 1: Go to gateway of Tally, and click on Alt+O and an import drop down will appear.
We can import from either Transactions, Masters and Bank Details.

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STEP 2: Now choose from which files to import and their data type i.e. XML and proceed
accordingly.

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 ASSIGNMENT 23
Q.1 Explain in detail how to generate Accounting Ratios Report in Tally.

Ratio Analysis in Tally Prime is a powerful tool for financial analysis. The analysis of a
financial statement is made possible by the use of financial ratios.

Ratio Analysis in Tally Prime helps you compare different sets of financial data. This
comparison gives an understanding of the financial position of a bu siness unit. The Ratio
Analysis report consists of Principal Groups and Principal Ratios. The Principal Groups
are the key figures that give meaning to the ratios.

STEPS TO GENERATE RATIO ANALYSIS ARE:

STEP 1: First go to Gateway of Tally and go to reports and then on Ratio Analysis.

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STEP 2: Click on it and you’ll get the desired analysis.

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 ASSIGNMENT 24

Q.1 Show Interest Calculations in Tally with the help of suitable example.
SOL: First enable Interest Calculations in the company. The steps are:
1. While creating a company change interest calculations to “yes”.

2. Now the Interest Calculations are activated.

NOW WE WOULD SEE HOW TO DO INTEREST CALCULATIONS:

1. Gateway of Tally > Alter > Ledger > select the bank ledger > and press Enter.
Alternatively, press Alt+G (Go To) > Alter Master > Ledger > select the bank
ledger > and press Enter.

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2. Set the option Activate interest calculation to Yes. The Interest Parameters screen
appears.

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3. In the Calculate Interest Based On field select the Date Type, as required.

The option to calculate interest based on either Bank reconciliation date or voucher

date will be displayed for ledgers grouped under Bank Accounts, Bank OCC A/c

and Bank OD A/c. The interest calculated on:

o Voucher Date will be displayed in the Ledger Interest report.

o Bank/Reco Date will be displayed in Bank Reconciled Transactions report.

4. Set Include transaction date for interest calculation, as needed. This can be

enabled For Amounts added and/or For Amounts Deducted.

5. Enter the Rate of interest.

6. Select the Interest Style, as required. The rate of interest will be calculated on the

basis of the interest style applied .

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Now to see the results of the interest calculation. You need to follow these steps:
1. First go to Gateway of Tally < Display More Reports < Statement Of Accounts <
Interest Calculations.

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2. Here is how it would Display.

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 ASSIGNMENT 25

Q.1 Explain Bills of Material in Tally.

SOLUTION:
A Bill of Materials is a list of constituent items along with quantity details that can be allotted for
the manufacture of a certain product, by-product or likewise. This facilitates immediate reduction
in stock of the item automatically. This process of listing the items that make up another item is
made possible in Tally by enabling the Bill of Materials Facility.

Bill of Material (BoM) is created only for those items that are being assembled in-house.
Therefore, you need to specify a BoM at the time of creating a Stock Item or while altering the
stock item. For trading items, you do not need a BoM.

Bill of Material feature is useful for manufacturing organisations.

STEPS TO HOW YOU CAN CONFIGURE BILLS OF MATERIAL:

1. Go to Masters in Gateway Of Tally and then to create and click on Stock Item.
2. From there, go to more details on the right-hand side panel and a window will appear. There
click on Show more.

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3. Now click on Components List (BoM) and a window will appear.

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 National Traders_Atishya

We can create different Bills of Material that includes:

1. Single Bill of Material for a Stock Item: Single BOM can be created for a stock item
where you use standard set of inputs to manufacture finished goods.

2. Multiple Bill of Material for a Stock Item: Multiple BOM can be created for a stock item
where you use varying set of components to manufacture a specific finished goods based
on the availability of goods or customer requirements.

3. Manufacturing Journal for a Stock Item with Multiple Bill of Materials.

4. Single/Multiple Bill of Material with Type Of item.

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 ASSIGNMENT 26
Q.1 Were can we find Exception Reports in Tally. Generate some exception reports. Paste the
necessary screenshots along with proper steps.
SOLUTION:
Exception Reports track unusual transactions or balances.
STEPS TO FOLLOW TO FIND EXCEPTION REPORTS:

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STEP 1: First go to Gateway of Tally, then on display more reports and then we will find
Exception Reports.

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STEP 2: Click on Exception Reports and new tab would open with various options:
HERE ARE EXAMPLES OF SOME GENERATED REPORTS:
1. List Of Negative Ledger Accounts

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2. Ledgers Without Email ID:

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 ASSIGNMENT 27

Q.1 Show with the help of screenshots how to generate and print various reports in Tally.
SOLUTION:
STEP 1: Tally Prime has made it all easy to access reports. Go to Gateway of Tally and there
are the reports including Display More reports where all other reports are given.

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 National Traders_Atishya

National Traders_Atishya
Atishya_01514788821

STEP 2: Generating a report is very easy as all need to do is to click and according to your
entries the report would be generated. Here are the some examples:

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 National Traders_Rupin
National Traders_Atishya

FOR PRINTING OF THE REPORTS:

Printing of reports in Tally Prime is simple. Similar to other features like Export

National Traders_Atishya
National Traders_Atishya

and E-mail, the Print feature helps you to configure the process and also decide the
information you want to print on the reports every time. For ex ample, if you need to
use a specific printer every time you print or want the company logo to be included
in the document, you can set such configurations across all reports (and vouchers).
However, based on your preference for certain reports (on or more reports), you can
change the print configuration for that specific report to override the common
configurations.

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National Traders_Atishya

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 ASSIGNMENT 28

(PART-1): Record the following business transaction of NATIONAL TRADERS_Your Name

for the
month of April 2012:
DATE TRANSACTION DETAILS

2-4-2012 Paid Rs.500 to Challenger system by cheque

2-4-2012 Bought office supplies for Rs.150 with petty cash

2-4-2012 Wages of Rs.600 paid to employees by cheque

5-4-2012 Banked a cheque for Rs.5000 received from Data Link

Technologies
6-4-2012 Sold 1 IBM Pentium 1V to Spectrum Computers to for Rs.24785

6-4-2012 Withdrew Rs.200 from bank account for petty cash

7-4-2012 Bought 1 Laseret 1500 (Printer Purchase) from Silver Plus

computers on credit for Rs.8100

(PART-2): Record the following transactions of NATIONAL TRADERS for the month
of May and June 2012:

Date Transaction Details

10-5-2012 Bank Advice received for bank interest of Rs.500 credited to the deposit
account.
11-5-2012 Electricity bill (Office costs) for Rs.400 received from Horizon Enterprises.
14-5-2012 Sold 1 NO. - HP Laserjet 1010 Series (Printer Sales) for Rs.9500 to a cash
customer,retaining the money as petty cash.
19-5-2012 Salaries of Rs.2500 paid through Bank Account.

24-5-2012 Sold 1 Nos. – HCL Pentium 1V ( Computer Sales) for Rs.21500 to Supreme
Computers.

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30-5-2012 Purchases 5 Nos. – USB Pen Drive 16 GB @ Rs.1250 ( Purchase) from
Challenger Systems on credit.
1-6-2012 Paid freight charges of Rs.200 from Petty Cash.
1-6-2012 Paid Challenger Systems Rs. 11,500 by cheque.

15-6-2012 Cheque for Rs 15000 received from Spectrum Computers deposited in

Bank Account.
22.-6-2012 Purchased 4 Ns.- IBM Pentium 1V for Rs.17100 each (Computer
Purchase) from a new supplier and paid by cheque.
22-6-2012 Sold 2 Nos. – IBM Pentium for RS;.24785 ( Computer Sales) to a customer
who paid by cheque .

SOLUTION:

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National Traders_Atishya

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National Traders_RUPIIN
National Traders_Rupin

National Traders_Rupin

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 ASSIGNMENT 29

QUESTION:
Particulars Assets Liabilities
Bank Account 35000
Deposit Account 40000
Petty Cash 500
Compu Care Systems 5400
Data Link Technologies 26000
Spectrum Computers 12400
Supreme Computers 13500
Sundry Debtors (Total) 57300
Buildings 75000
Building Accumulated 8000
Depreciation 25000
Office Equipment 4500
Office equipment 4780
accumulated depreciation 13600
Tax deducted at source
Sales Tax
Challenger System 65650
Horizontal Enterprises 44750
Silver Plus Computers 45600
Sundry Creditors (Total) 156000
Mutual Trust Loan 50000
Equity Capital 250000
Profit and Loss Account 32070
Difference in Opening 286150
Balances
Total 518950 518950

*Show Trial Balance and Balance Sheet.

SOLUTION:

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 National Traders_Rupin
National Traders_Rupin

National Traders_Rupin
National Traders_Rupin National Traders_Rupin

National Traders_Rupin
National Traders_Atishya

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 ASSIGNMENT 30
Enter the following transactions of the Company in Tally (CT1.FULLNAME.SECTION) and
show various reports
 All purchase and sales transactions of goods, Payment to creditors, and receipt from
debtors are done through Oriental Bank of Commerce
 Any other payment and receipt are done through State Bank of India or cash.

 The company deals in the following stocks:

Name of the items Group Quantity Rate(Rs) Opening stock value

Cotton Shirts 100 pcs. 600 60,000
Woollen Shirts 125 pcs. 1000 1,25,000
Teri cot Shirts 108 pcs. 600 64,800
Denim Trousers 400 pcs. 1500 6,00,000
Woollen Trousers 100 pcs. 2500 2,50,000
Cotton Trousers 500 pcs. 1250 6,25,000
Total 17,24,800

The list of company debtors and creditors is as follows:

Debtors Balance Due Creditors Balance payable
Pooja 45,000 Shalu 25,000
Prerna 89,000 Sangeeta 30,500
Pawan 52,000 Sapna 67,500
Pankaj 30,000 Sandeep 42,600
Prakash 46,000 Siddharth 59,000
Total 2,62,000 Total 2,24,600
Record the following transactions that took place during the April, 2022 to March
2023.

S.No. Transaction Item Quantity Amount

1 Purchase from Shalu (credit) Cotton Shirts 20 7,000

2 Sale to Prerna (credit) Woollen Shirts 125 2,40,000

3 Sale to Pankaj (credit) Denim trousers 100 4,50,000

4 Paid to Shalu 5,000

5 Purchase from Sangeeta Woollen Shirts 160 1,60,000

(credit)

6 Purchase from Sapna (credit) Cotton Shirts 200 2,00,000

7 Purchased furniture (SBI) 25,000

8 Paid insurance premium (SBI) 15,600

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 9 Purchased Land and Building from XY Ltd. for Rs 10,00,000. To pay this the
company borrowed from bank a loan of Rs 6,00,000 and issued fully paid
debenture of Rs 4,00,000 to XY Ltd.

10 Sold all the investment (SBI) 2,50,000

11 Paid
1. Outstanding Salaries 20,000
2. Electricity 10,000
3. Telephone 5,000
4. Current salaries 50,000
5. Rent (including outstanding) 80,000

12
1. Total salaries outstanding 50,000
2. Total rent outstanding 40,000

13 Charge Depreciation for the period 1/4/2022 to 31/3/2023 on furniture@15% p.a

and Machinery @ 8% p.a

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
a. Trial Balance as on 31/3/2023
b. Profit and Loss Account as on 31/3/2023
c. Balance sheet as on 31/3/2023
d. Balance Sheet as at 1.4.2022
e. Cash book
f. Ratio Analysis

SOLUTION:

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