The Institute of Computer Accountants

AB-26, Shalimar Bagh

New Delhi-110088
Busy Assignment
Session 1

1. Create a new company with following Detail :

a. Name of the Company----Khandelwal & Sons.
b. Financial year--------------01-04-2006
c. Address---------------------B-905, Sector-01, Rohini
New Delhi
d. Ward no.--------------------25
e. Tel no.---------------------- 09911203903
f. IT Pan----------------------RK30091983DL
g. Country--------------------India
h. State------------------------Delhi
i. Enable Vat-----------------Yes
j. TIN-------------------------ICA110088ZO

2. Prepare the following Balance Sheet for the year ending

31-03-2005
Liabilities Amount Assets Amount
Capital 150000 Building 45000
Capital Reserve 45000 Cash in hand 50000
Profit & Loss 16000 UTI Bank 46700
Sundry 54000 Sundry Debtors 50000
Creditors
Outstanding 20000 Closing Stock 33300
Rent
Outstanding 5000 Prepaid 15000
Salary Insurance
Bank Overdraft 15000 Machinery 65000
305000 305000
Detail of Sundry Creditors
Singh & Co. DS/48/774 15000
Ajay & Co. AY/985/424 14000
GS Brothers GS/534/747 25000
54000
Detail of Sundry Debtors
Kamal SJ/47/2225 10000
P.L & Sons PA/4543/34534 25000
SK & Sons SK/471/114 15000
50000
Detail of Closing Stock
Particular Unit Qty Amount
Wire Mtr 14000 28000
Switches Pcs 650 1300
LCD Pcs 1000 4000
33300

Session 2

1. Mr. Sunil join as a new business partner and Borrowed

Rs.850000 from Ansal Investment Co. and deposited the money
into a UTI Bank Account on 01-04-2006.
2. An additional cash introduced into the business amount of
Rs.950000 on 08-04-2006..
3. Rs.4000 paid on account of salary to the cashier Dhawan from
Account Dept on 08-04-2006.
4. Manager’s Salary of rs.25000 was paid by cheque drawn on
UTI bank Cheque No. 09051 dated 10-04-2006.
5. Purchase a new machinery from m/s Mukesh & Co. on credit
Rs.78000 on 12-04-2006.
6. On obtaining the delivery of machinery it was found that the
some part is damage worth Rs.3500 Mukesh & Co. agree to
adjust the amount on 15-04-2006.
7. Outstanding Rent has been cleared by cash on 20-04-2006.
 8. A demand draft has prepared for Rs.4500 from a UTI Bank after
paying Rs150 for bank charges on 28-04-2006.
9. Received a crossed cheque from Kamal of Rs.7000 in full
settlement on 28-04-2006 and deposited into the UTI Bank on
same day.

Session 3

1. On 01-05-2006 Purchase the 500mtr wire @75per mtr from M/s

Gagan Electronics Bill No.MG/01 against C –Form with
4%CST and 2%Surcharge.
2. On 02-05-2006 Purchase 600pcs Switches @5/- from Punit
Electronics (Tin No-PT43438GF) with 12.5% Vat. Bill
No.PT/01.
3. C-Form issued to M/s Gagan Electronics C form no. 045487
dated 04-05-2006.
4. Sold 400mtr wire @115 to Deepak with 10%CST on 03-05-
2006 vide Bill No.DT/01.
5. Sold 600pcs Switches @9/- sold to Harish Electronics (Tin no-
HT57444HGT) on 08-05-2006 with 12.5%Output Vat Bill
No.HE/01.
6. 5pcs found damage due to technical fault Harish Electronics
return the same pcs to company treated the return as a sales
return on 10-05-2006..
7. Adjust the Vat amount and Deposit the balance amount into the
UTI Bank on 15-05-2006 through Cheque No.090502, Challan
no is CH74322.
8. Mr.Dinesh from Marketing Dept takes the advance from
company on account of traveling Rs.900 on 15-05-2006.

Session 4
1. On 18-05-2006 Purchase the following item from sanjay traders
item are treated as a raw material for the point of Excise.Bill
No.ST/01.
4000pcs LCD @ 30/-
4000 Battery Cover @850/-
12000mtr Wire @ 14/-
With 16%Excise Duty and 2%Education Cees.
Record the transaction in appropriate Excise register
2. Company has set a production formula to generate 01pcs of
battery.
7Pcs LCD
2pcs Switches
1Pcs Battery cover
5mtr Wire
3. Check whether the Sufficient material available for
manufacturing 70pcs of battery as per the BOM.
4. On 01-06-2006 Produce 70pcs of battery and store in Shalimar
Godown.
5. Transfer the 5pcs of Batteries from Shalimar to Rajouri Godown
on 03-06-2006.
6. 1pcs of battery is given to Punit Traders as a Sample on 05-06-
2006..
7. 6pcs of battery sold to Ekta Manufacturing Co. @9500/-per pcs
on 5days credit on 08-06-2006 bill no.EKT/001.
8. 3pcs of batteries is used for internal office Use on 10-06-2006.
9. 01 pcs of Battery is returned by Ekta Manufacturing Co on 11-
06-2006 company ia planed to unassembled the same.

Session 5
1. Purchase the following item from Harish & sons on 15-06-2006
on 3days creit bill No.HS/01
4000pcs lcd @ 25/-
Rs.250/- is charged towards Cartage a/c.
2. Sold the 40pcs of battery @ 9000/-per pcs to Rajesh
Electronics with 16% Excise Duty and 2% Education Cees.on
20-06-2006 Bill no.RE/01
Sale deed is finalized by the broker (Ajit Tyagi)
3. Paid the balance excise duty through TR-6 Challan by UTI
Bank Ch No.090503. and maintain the register of Excise
Duty.25-06-2006
4. Adjust the Excise Amount in appropriate Register
5. Company has paid Rs.75000 to Advertising Agency and deducts
the Service Tax 12% and Surcharge 2% on 28-06-2006.
6. Make the adjustment entry and paid the balance service tax
amount through UTI bank Challan No.0723233 dated 30-06-
2006 Ch No.090504.

Session 6

1. Company hire a Godown for Rent Rs.1800000 from

A.B.Associates on 01-07-2006.
A.B Associates is Individual Resident , Deduct the TDS-15%
and Education Cees 2%., Tds ref no TDS/01 on
2. Deduct the TDS amount from A.B. Associates 15-07-2006.
3. Paid the TDS & Education Cees amount through UTI Bank
cheque no. 090505 dated 18-07-06.
4. Paid the balance amount to AB Associates in on 20-07-2006
through Cheque No-09056.
5. Charged 10% Depreciation on Machinery on 25-07-2006.
6. Paid the due amount of Harish & Sons with 5% Interest on 25-
07-2006.
7. Mr.Anil is the legal advisor of company has Rs.5000 as paid
towards legal expenses on 27-07-2006..
8. Calculate the Brokerage amount of Ajit Tyagi and paid in cash
on 28-07-2006.

Session 7

1. Create a new author S.K Das he will charge 5% royalty for Tally
Books. The MRP of book is Rs.150/- .
2. Purchase 50pcs of tally books @100/- from Lalit & Co bill no.
LC/01 dated 01-08-2006 .
3. Sold the 40pcs of Tally Books to Ramesh @145/- bill no.RT/01
dated 05-08-2006.
4. Calculate the Royalty amount and paid the royalty amount to
the Author on 15-08-2006.
5. A sale bill is made to Manish for 10pcs of Tally Books @135/-
on 18/08/2006 but as per the instruction from stock incharge
books are delivered after 2 days.
6. Company will merge the stock of LCD with colour lcd.
7. Set an credit limit for Lalit & Co. for Rs.3000/- and try to pay
the amount of Rs.3500/- we want to set Don’t allow action.
8. Set the criteria whenever we can login the company if the
company cash balance is going to negative it will shown an
warning message at the time of startup of the company.
9. Cheque status As per the Bank statement 20-08-2006.
Cheque No Clearing Date
090501 14-04-2006
090502 18-05-2006
090503 28-06-2006
090504 03-07-2006
090505 22-07-2006

10. As on 01-09-2006 freeze the data of company.