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Tally questions
- 1. II – TALLY.ERP 9 (Basic Concepts) 1. Creation of a new company, group, voucher and ledger. Record minimum 10 transactions and display the relevant results. 1)Purchased goods for cash 10,000 2)Purchased stationary 500 3)Purchased furniture 3,000 4)Sold good for cash 8,000 5)Sold goods to geetha 3,000 6)Paid rent 800 7)Sold goods to latha 2,000 8)Paid salary 8,000 9)Goods sold 50,000 10)Commission paid 1,000 2. Preparation of trading, Profit and Loss A/c and Balance Sheet (with minimum of any five adjustments). NAME OF THE ACCOUNT DEBIT CREDIT Drawings 45000 Goodwill 90000 Buildings 60000 Machinery 40000 Bills receivable 6000 Opening stock 40000 Purchase 51000 Wages 26000 Carriage outward 500 Carriage inward 1000 Salary 35000 Rent 3000 Discount 1100 Repairs 2300 Bank 25000 Cash 1600 Debtors 45000 Bad debts 1200 Sales return 2000 Furniture 6000 Advertisement 3500 General expenses 450 Capital 160000 Bills payable 35000 Creditors 70000 Purchase return 2600 Sales 218000 ADJUSTMENTS: 1) Closing stock Rs 35000 2) Depreciation on machinery and furniture at 10% 3) Outstanding wages Rs 1500 4) Prepaid advertisement Rs 500
- 2. 5) Create 5% on debtors for bad debts provision 3. Preparation of Cash flow statement, Fund flow statement and Ratio Analysis by passing minimum 10 transactions. Name of Accounts Debit Rs Credit Rs Opening stock Land and building Machinery Furniture Purchase Salaries General expenses Rent Postage and telegram Stationery Wages Freight on purchase Carriage on sales Debtors Repairs Bad debts Cash in hand Cash at bank Sales return Capital Creditors Purchase return Sundry income Reserve for bad debts Sales 15500 35000 50000 5000 106000 11000 2500 3000 1400 1300 26000 2800 4000 30000 4500 6000 100 6400 5100 90000 9600 2100 1200 300 207000 310200 310200 Adjustment: 1. Additional capital on first April Rs.50000. 2. April 5, furniture purchase for cash Rs.10000. 3. April 8, Cash purchase Rs.50000. 4. April 12, Cash sales Rs.70000. 5. April 25, Paid rent Rs.3000. 6. April 30, Paid salaries Rs.11000.
- 3. 4. Preparation of Trial Balance with minimum 10 transactions. NAME OF THE ACCOUNT DEBIT CREDIT Drawings 45000 Goodwill 90000 Buildings 60000 Machinery 40000 Bills receivable 6000 Opening stock 40000 Purchase 51000 Wages 26000 Carriage outward 500 Carriage inward 1000 Salary 35000 Rent 3000 Discount 1100 Repairs 2300 Bank 25000 Cash 1600 Debtors 45000 Bad debts 1200 Sales return 2000 Furniture 6000 Advertisement 3500 General expenses 450 Capital 160000 Bills payable 35000 Creditors 70000 Purchase return 2600 Sales 218000 ADJUSTMENTS: 1) Closing stock Rs 35000 2) Depreciation on machinery and furniture at 10% 3) Outstanding wages Rs 1500 4) Prepaid advertisement Rs 500 5) Create 5% on debtors for bad debts provision 5. Preparation of inventory statement using (Calculate inventory by using the following methods) a) FIFO b) LIFO c) Average cost Method d) Standard cost Method. 1.4.2016 Purchased 200 units at 20 per unit 4.4.2016 Sold 100 units at 20 per unit 10.4.2016 Sold 500 units at 20 per unit 18.4.2016 Purchased 309 units at 18 per unit 20.4.2016 Sold 50 units at 20 per unit 20.4.2016 Sold 200 units at 18 per unit 30.4.2016 Purchased 100 units at 16 per unit 30.4.2016 Sold 100 units at 18 per unit
- 4. 6. Preparation of Subsidiary Books – Cash book, Purchase book and Sales book with minimum of 10 transactions. 1.4.2016 Purchased 200 units at 20 per unit 4.4.2016 Sold 100 units at 20 per unit 10.4.2016 Sold 500 units at 20 per unit 18.4.2016 Purchased 309 units at 18 per unit 20.4.2016 Sold 50 units at 20 per unit 20.4.2016 Sold 200 units at 18 per unit 30.4.2016 Purchased 100 units at 16 per unit 30.4.2016 Sold 100 units at 18 per unit 7. Prepare Receipts and Payments A/c and Income and Expenditure A/c for Non- Trading Organisation. The following is the receipts and payments A/c of Delhi football association for the first year ending 31st March 2017. Receipts Rs Payments Rs To Donation To Reserve fund (life membership fees and entrance fees received) To Receipts from football matches Revenue Receipts : To Subscriptions To Locker Rents To Interest on Securities To Sundries 50000 4000 8000 5200 50 240 67,840 350 By Pavilion office (Constructed) By Expenses in connection with matches By furniture By Investments at cost Revenue payments: By Salaries By Wages By Insurance By Telephone By Electricity By Sundry expenses By Balance on hand 40000 900 2100 16000 1800 600 350 250 110 210 5520 67,840 Additional Information i. Subscription outstanding for 2017 are Rs.250 ii. Salaries unpaid for 2017 are Rs.170 iii. Wages unpaid for 2017 are Rs.90 iv. Outstanding bill the Sundry expenses is Rs.40 v. Donation received have to be capitalised.
- 5. Prepare from the details given above and Income and Expenditure A/c for the year ended 31.12.2017 and the Balance sheet of the Association as on the date.