FINANCIAL ACCOUNTING PRACTICAL
Time
Allowed : 1 Hour maximum marks:20
The company details are as follow ;
-
Name – your name ( College Roll No)
-
Address : Your Name ,Your Phone and mobile No.
-
Currency symbol:Rs
Enter the following transaction of the company in Tally and show
various reports
Balance
sheet as on 31st
March, 2020
Liabilities
|
Amount
|
Assets
|
Amount
|
Capital
|
6,00,000
|
Personal Computer
|
42,000
|
Reserves
|
25,000
|
Plant and Machinery
|
2,00,000
|
Profit and Loss Account
|
50,000
|
Furniture
|
20,000
|
Secured loan
|
25,000
|
Stock
|
1,00,000
|
10% Debentures
|
50,000
|
Debtors
|
1,80,000
|
Loan from ABC Ltd
|
45,000
|
Bills Receivables
|
50,000
|
Bills Payable
|
5,000
|
Oriental Bank of Commerce
|
1,65,000
|
Sundry Creditors
|
1,85,000
|
State Bank Of Jaipur
|
1,41,960
|
Salaries outstanding
|
5,000
|
Cash in Hand
|
91,040
|
|
9,90,000
|
|
9,90,000
|
Name of the items
|
Group
|
Quality
|
Rate
|
Opening stock Value
|
Electric bulbs
|
Lights
|
50 pcs
|
100
|
5,000
|
LED Lights
|
Lights
|
150 pcs
|
180
|
27,000
|
Coolers
|
Cooling Products
|
10 pcs
|
400
|
4,000
|
Ceiling fans
|
Cooling Products
|
80 pcs
|
800
|
64,000
|
Total
|
|
|
|
1,00,000
|
Debtors
|
AMOUNT(Rs)
|
Creditors
|
Amount(Rs)
|
Arvind
|
75,000
|
M/s Kapoor Brothers
|
1,10,000
|
Uday
|
60,000
|
Ramesh Brothers
|
25,000
|
Madan
|
27,000
|
Rakesh &Co.
|
30,000
|
Kamlesh
|
18,000
|
Nitin
|
20,000
|
|
1,80,000
|
|
1,85,000
|
sr.No
|
Transaction
|
Amount(Rs)
|
1
|
Cash deposited in Sbj
|
10,000
|
2
|
Paid carriage inwards
|
4,400
|
3
|
Purchased 40 LED Lights from Rakesh & Co. for
list price Rs 180 each
|
|
4
|
Rakesh &Co. allows trade discount@10%
|
|
5
|
Sales to Uday of 50 electric bulbs.
|
7,500
|
6
|
10 electic bulbs returned by Uday
|
|
7
|
Uday paid by cheque in full settlement for
current year transcations.
|
5,500
|
8
|
Interest paid on 10% Debentures.
|
|
9
|
Depreciate plant and machinery , having a useful
life of 10 years.
|
|
You are required to:-
-
Create a company as per details given above
-
Create appropriate groups and ledger Accounts.
-
Enter the transactions as given selecting appropriate voucher type.
-
Display the following statements in details view:
-
Profit and loss Accounts
-
Balance sheet
-
Day Book
-
Ratio Analysis