Accounting Question (Tally) 1.4.08 Started business to cash - 1,00000=00. 2.4.08 Purchase furniture Rs- 3300 to cash . 3. 4. 08 Purchase Electric equipment Rs -2350 to cash. 4. 4.08 Purchase good sold to cash Rs- 50,500=00 . 5. 4. 08 Open Bank Account in SBI Hanuman Nagar and deposit cash Rs5,000=00. 6. 4. 08 Goods sold to cash Rs- 3300=00. 7. 4. 08 Purchase good from Raman Rs- 12500=00. 8. 4. 08 Good sold to shyam to cash Rs - 15,500 =00 . 9. 4. 08 Paid freight Rs-120=00 to cash. 10. 4. 08 Paid Rent to cash Rs- 100=00. 11.4. 08 Paid Electric charge Rs-250=00. 12.4.08 Paid Other Expenses 500= 00. 13.4.08 Paid Mobile Recharge 150=00.
2nd Step Give a Journal Entry in the Book of Raman & Company and classify all Ledger Account(Journal Ledger) 2.5.8 Bank Account in central Bank and deposited cash Rs-5,000=00. 3.5.8 Cheque deposited in to Bank Rs-25,000=00. 4.5.8 Purchase Furniture to cash Rs-2,550=00. 5.5.08 Purchase goods tocash Rs- 25,500=00. 6.5.08 Goods sold to cash Rs-20,300=00. 7.5.8 Paid Freight to cash Rs-150=00. 7.5.9 Paid Raman Started Business to cash Rs-75,000 and cheque Rs25,000=00 . 8.5.8 Rent to cash Rs-1,000=00. 9.5.8 Paid mobile recharge cash Rs -150=00. 10.5.08 Paid Other Expenses Rs -210=00. 11.5.08 Purchase Electric Equipment to cash Rs- 3,100 . 12.5.08 Purchase goods From Rohan Rs- 25,300=00. 13.5.08 Goods Sold to dinesh Rs-20,100=00 . 14.5.08 Cash Received From dinesh Rs-20,000=00. 15.5.08 Cash Paid to Rohan Rs- 20,000=00.
In the Books of x & company for the month of June. (Period -2007-2008) 1.6.8
X Started Business to cash Rs-1,00000=00. 2.6.8 Purchase Furniture/ Fixture Rs- 5,325=00 . 3.6.8 Purchase Electric Equipment Rs-2,525=00. 4.6.8 Purchase goods to cash Rs-3,500=00. 5.6.8 Purchase goods from Raman Rs-20,000=00 Weekly. 6.6.8 Good sold to cash 10,300=00. 7.6.8 Goods sold to Gagan Rs - 6,000=00(Approx) daily . 8.6.8 Cash paid to Raman weekly Bank dues. 9.6.8 Cash Received From Gagan daily Back dues. 10.6.08 Open a Bank Account in central Bank Hanuman Nagar and deposit cash Rs5,000=00. 11.6.08 Paid Rent to cash Rs-1,000=00. 12.6.08 Paid Electricity charge to cash Rs-250=00. 13.6.08 Paid Othre Expenses to cash Rs-200=00. 14.6.08 Paid Salary to cash Rs-1,200=00.
15.6.08 Paid General Expenses to cash Rs- 150=00.
Fundamental of Accounts Accounting is created by double Entry System . Created by LUCAS PACIOLI in year 1494. Advantage:- All Transaction two Aspect. Debit ___________________________ Cradit
Debitom France Language Debitor’s •
Craditom France
Language Creditor’s
What is Debit? Ans:- Increase in all Assets ,Expenses and Losses and Decrease in all capital Liability & gain is called debit . *What is Credit? Ans:- Increase in all capital liability & gain and decrease in all Assets Expenses and Losses is called credit. Assets. Long time Returning value goods is called Assets. There are three types of Assets. (i) Fixed Assets:- Depreciable Assets is called Fixed Assets. Ex:- Furniture & Fixture , Losse & Tools, Electronic & Electric, Goods, Any types of vehicles , etc. (ii) Current Assets:- Flaxuting Assets is called current Assets. Ex:- Sundry debitor’s , stock in hand, Loan & Liability, deposit(Fixed deposite), cash-at bank, cash-in hand . (iii) Fictitious Assets:- Fixed value Assets/ not depreciable Assets is called Fictitious Assets . Ex:- Gold ,Silver, Stone, and Land etc. *Expences:- Any Types of Expences, There are three types of expenses:(i) Direct Expenses:After purchase Related Expenses before godown is called direct expenses. Ex:- Freight, wages, labour charge,carriage in ward, trasporation, etc. (i) Indirect Expenses:Any types of office management releted expenses is called indirect expences. Ex:- Rent, salary, telephone & mobile expenses, electricity charge, other expenses, general expenses, news paper, and periodicals, travalling & etc. (i) (ii) income.
Income:Direct income:Purchase related income is called direct income. = Cash discount, Trade discount. Indirect income:Managements, bank gift job work,etc. releted income is called indirect
Ex:- Commission, Gift, Bank Intrest etc. Losss Loss of fire, loss of gift, loss by brakage, loss by likage, loss by dimage, loss by expiry, loss by train ,loss by transport etc. Capital First time money invested by owner against started new business is called capital. Liability Payment dues business is called liability. (i) Current liability:Sundry craditor’s, provision, duties and taxes, (ii) Loan liability :Bank overdraft, secured loan, unsecured loan, Gain:Income of source. What is Account? Accont is an art of recording, classifying and summarising of all transaction in the terms of money in specific period. There are three types of account (1) Personal Account (2) Impersonal Account (i) Personal Account:Persons releted account is called personal account. There are three types of personal account. (i) Natural person:General person, owner,proprietor partner, director,managing director etc. (ii) Artificial person:Bank ,company, industries, firm, trust, school, college, Ngo , hospital. (ii) Reprasantative person:Drawings, prepaid, dustanding, received in advance,& advance. (2) Impersonal Account:Other than person, There are two types of impersonal account (1)Real Account:# Trangible # Intrangible All Assets Good will (2) Nominal Account:All expenses, losses , income and gain , GOLDEN RULE:(i)Personal Account:- “Debit the receiver and credit the giver”. (ii) Real Account:- “Debit what comes in and credit what goes . Nominal Account:- “ debit all expenses & losses and credit all incomes & gain” Ledger:Ledger is two classification of all account head. Ledger is monthly creation ,one time one ledger creation. Ledger Format
Date Particular st
1
30th
L.F
Amount
Date st
To
1
To Balance c/d (- )
xxx
30th
Particular By
By Balance c/d
L.F
Amount
xxx
(- ) =
= C/d = Carried Down , B/d = Brought Down Cash, Capital, Freight, Electric Equipment,Bank, Sales, Raman, Shyam, Furniture, Rent, Electric Charge, Other Expenses, Mobile Recharge etc. Group of Account Total Name of group 28 type , primary group- 15th, secondary group- 13th, secondary group is merge in primary group. Use of first nine primary group- only for balance sheet. Use of Last six primary group only for profit & loss Account. Name of group& balances: (use in balance sheet) (1.) Capital Account________________ Cr (i) Reserve & surplus (2.) Current Liability _________________ Cr Duties & Taxes, provisions, sundry creditor’s , (3.) Loan Liability ___________________Cr Secured Loan, Bank overdraft/ Bank occ A/c Unsecured Loan, (4.) Current Assets __________________ Dr Sundry Debitor’s ,stock in hand, Loan & Advances, Deposits, Bank Account/ cash at Bank) , Cash A/c / cash in hand,) , (5.) Fixed Assets ____________________ Dr (6.) Investment ______________________ Dr (7.) Miscellaneous Expenses ___________ Dr (Company act 1956) (8.) Branch & Divisions ________________ Cr (9.) Suspence Account _________________ Cr #Use in profit & Loss Account (10.) Purchase Account,(11.) Sales Account, (12.) Direct Expenses, (13.) Direct Income, (14.) Indirect Expences, (15.) Indirect Income. Final Account What types of Account? (i) Trading Account (ii) Non Trading Account. Final Account Trading Business= Sale & Purchase Profit & Loss A/c = Balance sheet • Profit & Loss A/c • Manufacturing A/c • Trading A/c • Profit & Loss Account
• Format:In the books of (company Name) Profit & Loss Account for the Year Enting ------------------Dr Cr particular Amount Particular To opening stock Xxx By Sales xxx To purchase xxx Return in ward ---------Return det ward --------Xxx (Loss sales return)-----Loss purchase return Xxx By direct income Direct Expenses xxx By dirrag goods Gross profit (-) By closing stock (Balance c/d ) By gross loss (-)
Amount Xxx Xxx Xxx xxx Xxx
Gross loss (Balance b/d ) To indirect expenses To Net profi
Xxx Xxx xxx
By gross profit (Balance b/d ) By indirect income By Net loss
xxx xxx
Balance sheet In the books of ( -company name--- ) As on (--date-----------) Capital & Liability Capital xxx Net loss --------------------Less Add Net profit xxx Loss drawing ---------Current Liability Loan Liability Branch & division Suspense Account
Amount Rs
xxx xxx xxx xxx xxx
Assets& properties Rs Fixed Assets Loss deprecitation Investment Miscellancous Expenses ---------Current Assets
Tally Tally is a computerised Accounting System. It is based on double entry system. Advantage • Starting from Tally version . Tally 4.0 Dos mode ,, 4.5 ,, Account only ,, 5.0 Windows Based ,, 5.4 ,, Account only:-Account with in Inventory/ Inventory only ,, 6.0 ,, Multiuser(Internet Facility) ,, 6.3 ,, Internet+Tax Facility ,, 6.8 ,, Gold/ Silver ,, 7.2 ,, VAT/ TDS ,, 8.1 ,, VAT/ TDS/ Servics Tax ,, 9.0 ,, VAT/ TDS/ Servics Tax /,Easy To use option display. Shortcut key Esc:To back one step option screen.
•
Amount xxx xxx xxx xxx
Enter:Finished all option. Back space:- Back one step option. Up/down(Arrow Key) :- Select any option. Page up :- Back one step voucher screen. Page down:- After one step voucher screen. F1:- Select company . Alt+ F1:- Shut company/ Detail display . F2:- Change date . Alt+ F2:- Change period . Alt+F3:- Company information screen/Create. Ctrl+M :- Activate gateway of tally Ctrl+N :- Activate calculator Ctrl+R :- Repeat last ledger name Alt+P :- Print any screen ALT+C:- Direct create any voucher mode Ctrl+A :- Save any data Alt+D:- Delete any selected ledger / voucher Entry . Voucher key F4 :- Contra voucher_ use only bank deposit related entry. F5 :- Payment vouche____ use only cash/bank payment related entry. F6 :- Receipt voucher ____ use only cash / cheque received related entry . F7 :- Journal voucher _____ use only adjustment related entry . F8 :- Sales voucher ______ use only cash / credit sales related entry . F9 :- Purchase voucher _____ use only cash / credit purchase related entry Work on Tally Account only (i) Company creation (ii) View group detail (iii) Group creation (iv) Ledger creation (v) Satting (F1 & F12) (vi) Voucher key (vii) Display = Trail Balance (viii) Profit & Loss Account (ix) Balance Sheet etc. Open Tally Double click left mouse button on the desktop Tally 7.2 0r, Right click = open on the Tally 7.2 Icon 0r, Select Tally Icon on the desktop screen and press enter key. 0r, To open Tally screen. Closing Tally Press “Q” and again press enter key, 0r “y” key. Or, Select Quit and press “y”, or Enter key. Or, Press ESC key and again press “y”, or Enter key .
Quit ? Yes/ No
Tally Screen Tally solution screen 12-April- 2007
Multiuser uvy 10:45:37 sunday
Help/web
Gateway of Tally Current period Current date 1.4.08 to31.3.08 1.4.08 List of select company Name of company Last voucher name
ODBC
Ctrl+ M Gate way of Tally Master, Account Info. Inventory Info. Import of data. Accounting Accounting voucher Inventory voucher Report Profit & Loss Account Balance Sheet Stock Summary Ration Analysis Display Multi Account Printing Ctrl+ N
F1 F2 F3 F4 F5 F6 F7 F8 F9 F10Button bar F11 F12
Calculator bar
Create Company Press Alt+F3 = To open company Info. Select create company (press enter key) Input company detail and accept”y” ,or (press enter key) Use enter key to next potion.
Company Info. Select company Shut Company Create Company Alter Back Ground Restore
Create Company
Ctrl+m
Location c:/ Tally / Data Name:- ABC & Company (press enter key) Alias:- ------------------------------------------------Mailing Name:- ABC & Company (press enter key) Address:- -------------------------------------------State:------B-------------------------Pin Code:- ---------------------------------E. Mail:- --------------------------------------Use VAT TIN:- ------------------------------------------------VAT TIN:- -------------------------------------------------------Income Tax Number:- --------------------------------------Use of currency:Rs Main tain :Account only Accout only Inventory Financial years from:- 1.4.2008 Book bigning form:1.4.2008 Use of Tally vault password (press enter key) Use of security ? No Base currency detail Use of currency: Rs Format name:Rupees Use Number of decimal places ? 2 Use symbol in Amount ? No Amount saffixed in symbol; yes Use Amount in million ? No Space between Amount & symbol ? yes
X
Accept ? Yes / No
View group detail Gateway of tally = select Account Info.(press enter key) Select =group detail (press enter key) Gateway of Tally Company Info. Select “ single group display” (press ente key) Group Open list of group subgroup name (press enter key) Ledger To open selected group detail . Voucher Type View details of group = press ESC Key. Quit Group Single group Create Display Alter Multiple group Create Display Alter Quit
• • •
Group Creation Gateway of Tally = select Account Info.(press enter key) Select group (press enter key ) Select single group “create” (press enter key)
•
Open group creation screen = Input group detail and accept “y” or, enter key.
Group creation Name:- Purchase (presenter key) (Alias) :Under :- Purchase Account Use group behave, like subgroup ? No
x
Accept Yes / No
Group Altering • Gateway of tally =select account info. (press enter key) • Select group (press enter key ) • Select single group alter (press enter key ) • Open list of group = select group name (press enter key) • Open group altering screen = modify any detail and accept “y” or, enter key Group Altering Name:- Purchase (press enter key) (Alias) :Accept ? Under:-Purchase Account Use group behave like subgroup? No Yes / No
x
