DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672

TALLY NOTES
ASSET:Properties of every description owned by a person will be called Asset E.g. Land & Building, Plant & Machinery, Cash balance, Bank balance. LIBILITIES:Liabilities represents the total amount payable to creditor debts arise because goods may be purchase out but payment may be made at the time o purchasing goods. DEBTOR:Debtor is a person who owes something he is the person who has to pay to the other person. E.g. A bought goods from B for Rs. 700/- In this case A will be called a debtor as the owed Rs. 700/- to B Dr is an abbreviation of the word Debtor CREDITORS: A creditor is a person to whom we owes some thing. He is person to whom we have to pay. E.g. if you purchase goods of Rs. 1000/- from Mr. A he will be called a Creditor, because we have to pay Rs. 1000/- to Mr. A EXPENCES: It is the amount spend on manufacturing and selling of goods and services. DRAWING: Drawing is the total amount withdrawn by trader from his business for his personal use. Classification of account and rules of debit & credit The accounts maintained in the general Ledger may be broadly classification into: PERSONAL ACCOUNT REAL ACCOUNT Account related to any person or firm e.g. Accounts for customer, Suppliers. Accounts of fixed and current such as cash, Building, plant & machinery, vehicles etc. Account relating to expenses and income Such as sales, purchase, discount allowed, Discount received, salaries, interest etc. Debit: The receiver (Debtor) Credit: The Giver (Credit) Debit: What Comes in Credit: What goes out Debit: All expenses and losses Credit: All income & gain

NOMINAL ACCOUNT Rules: PERSONAL ACCOUNT REAL ACCOUNT

NOMINAL ACCOUNT

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672

TALLY NOTES
Different Versions Of Tally. 1. Version 4.5: It is a DOS based program which has a facility of handling only accounts and not inventory. 2. Version 5.4: It is a Windows based program which has a facility of handling both accounts and inventory. 3. Version 6.3: It is a Windows based program that has a facility of handling both accounts and inventory. It also has an Internet facility through which you can transfer your accounts from one destination to another and an online help. Introduction: The term accountancy relates of the formulation of the principles or rules to be followed in the recording of business transactions. It means accountancy is a science. Accountancy includes the making of adjustments, and rectification, preparation of Trial Balance and Final Accounts. 1. Cash Transactions: A Business transaction in which cash is paid or received immediately is a cash transaction. 2. Credit Transactions: A credit transaction is one in which cash is not paid or received immediately at the time of a transaction, but it is paid or received at a later date. 3. Goods: The term goods refers to merchandise, commodities, articles or things in which a trader trades. 4. Purchase & Sales: These terms are used to indicate purchase and sale of trading goods. 5. Purchase Returns or Returns Outwards: This term indicates goods returned to suppliers out of goods purchased from them. 6. Sales Returns or Returns Inwards: This term indicates goods retuned by the customers of the business out of goods sold to them. 7. Debtor: A person who owns money to the business becomes a debtor of the business. 8. Creditor: A person to whom a business owes money becomes a creditor of the business. 9. Debt: The money due from debtor. 10. Assets: Total possessions of and debts due to the business. 11. Fixed Assets: Assets purchased by the business for its own use and not for resale. 12. Liabilities: Accounts payable by the business to its proprietors and others. 13. Capital: Total amount of cash, goods or any other assets invested by the proprietor into the business from time to time is called capital. 14. Drawings: Total amount of goods cash or any other assets withdrawn by the proprietor from the business for his self use are called drawings. 15. Discount: Discount means an allowance given by the seller to the purchaser. There are two types of discount (i) Trade Discount and (ii) Cash Discount. Trade discount does not appear in the books of accounts separately. Cash discount appears in the books of accounts. 16. Entry: Recording a transaction in the Journal or Ledger. Thus, the term entry may mean journal entry or ledger entry. 17. Voucher: any documentary in support of a business transaction is called a voucher. Different Groups In Tally 1. Capital account: The primary group Capital account has also a subgroup Reserves and Surplus. This subgroup can accommodate Ledgers for Reserves generated such as

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672 Investment allowance and Surplus from Earning after disbursement of dividends etc. The amount, which is used to start a business. 2. Current assets: This is a primary group and covers all the assets which are grouped under six Subgroups. i. ii. Bank accounts: This subgroup covers all the Bank accounts. Current and Servings, etc. in all the Banks being maintained by the Company. Cash in hand: The second subgroup is used for the ledger on cash held. Currently having cash on hand. Deposits (Asset): this subgroup is for deposits made by company. For examples, Fixed deposits, Security deposits etc. Loan and Advance Assets: This Subgroup is for the ledgers on all types of loans and advances for purchases. Stock in hand: This subgroup is to keep record of opening and closing stock for accounting purposes. This data is for internal accounting and no transaction takes place. Sundry Debtors: This subgroup is for keeping the accounts of companies and parties that supply goods on credit to the company. The people to whom you are selling a product and in return you are receiving a particular amount. This transaction is in sales.

iii. iv.

v.

vi.

3. Current Liabilities: This is a primary group in which the liabilities of the company including Statutory liabilities are maintained. i. ii. Duties and taxes: All the duties and taxes like Excise duty, Sales Tax-both central and state are maintained under this head. Provision: This subgroup is for keeping track of various statutory and non-statutory provision like Income tax, Provident fund, etc. Sundry Creditors: This subgroup is for keeping the accounts of creditors of the company to whom credit has been provided. The person from whom you are purchasing the product and in return you are paying him a particular amount. This transaction is in purchase.

iii.

4. Fixed assets: This is a primary group to keep track of all the fixed assets of the company; such as Value of Machinery, etc. 5. Investments: Again a primary group where information on all investment such as shares, bonds and other company in bought. Ledgers on all these can be maintained in this group. 6. Loans (Liabilities): This is a primary group and as the name suggests it is meant to keep ledgers on all loans taken by the company and has three subgroup as below: i. Bank OD (Over Draft) account: This is also useful for loans. In this there are various formalities A) Mortgage required i.e. security deposit. B) Valid for only six months. C) Maximum limit to loans in six lakhs. Bank OCC (Over Draft Cash Credit: This is useful for loans. In this there are various formalities. A) To give stock statement. B) To give outstanding statement. C) Every year renewal of rate of interest D) No mortgage i.e. security deposit. E) No limit to loans.

ii.

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672 ii. iii. Secured loans: This subgroup is ment to keep track of the loans taken by the company securities against the fixed assets, either from financial institution or banks. Unsecured loans: This subgroup is meant to keep unsecured loans taken by the company from any party, including directors and partners or a bank.

7. Suspense account: This is a primary group to keep suspense accounts and is meant to keep track of money paid or received by the company for which the details of transaction are yet to be finalized. Most advance fall into this category, like advances given for miscellaneous purchases or travel advances for which the details will be available after the purchase bill or TA bill is submitted. 8. Miscellancous expenses (Asset): This primary group is meant to keep preliminary and preoperative or any other similar expenses which have been capitalized and only the portion that has not been written off. 9. Sales account: It is meant to keep all sales accounts of the company. 10. Purchase account: It is meant to keep all the purchase transaction of the company. 11. Direct Income (Income Direct): In this primary group, ledger accounts for all the direct income of the company that is income arising out of sales of goods produced by the company are maintained. 12. Indirect Income (Income Indirect): Under this primary group ledger for indirect income, that is income from sources other than produced goods, like interest or rent received, is maintained. 13. Direct Expenses (Expenses Direct): This primary group is meant to keep the ledger on direct expenses like cost of labour, transportation of goods, utilities like fuel, electricity, etc. 14. Indirect Expenses (Expenses Indirect): This primary group is for the ledger on indirect expenses such as advertising, maintainance and administrative expenses. 15. Branches / Divisions: In this primary group, all the names of branches, divisions and subsidiaries of the company are maintained. Voucher Types 1. Contra: Transaction related to bank i.e. cash deposit and cash withdraw and bank to bank transactions. 2. Credit Note: If you have sold a product and if there is a defect in that product then we have to pass the credit note i.e. in Sales. 3. Debit Note: If you have purchased a product and if there is a defect in that product then we have to pass the debit note i.e. in purchase. 4. Delivery Note: The note that is given at the time of acceptance of goods. 5. Journal: Transaction using more than one ledger account or adjustment entries. 6. Memorandum: Temporary voucher that saves the voucher in the memory. 7. Payment: To make payments to the creditors. 8. Physical Stock: Current stock of the company. 9. Purchase: To purchase goods from the creditors. 10. Purchase order: Written confirmation of the order placed given to the debtor before purchasing the product. 11. Receipt: To receive payments from the debtors. 12. Receipt Note: The confirmation given to the debtor after receiving a particular amount.

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672 13. Rejection In: The product that we have sold which has defect and returned back by the debtor. 14. Rejection Out: The product that we have purchased that has defect and returned back by the creditor. 15. Sales: To sell goods to the debtors. 16. Sales Order: Written confirmation of the order placed received from the debtor before selling the product. 17. Stock Journal: Goods transferred from one go-down to another. Important keys: 1. F2 2. F4 3. F5 4. F6 5. F7 6. F8 7. F9 8. F10 -

For changing the Date Contra Payment Receipt Journal (Debit note, Credit note, Journal) Sales Purchase Memo

F4 - CONTRA Contra Entry are passed when cash is deposited into the Bank or Withdrawn from Bank or transferred from one Bank to another bank. Thus, contra entries are passed for internal fund transferred. I When Cash is deposited into Bank Bank A/c Dr. To Cash A/c For e.g.: Deposited Rs. 5000/- into National Bank. Entry National Bank A/c Dr. To Cash A/c When cash is withdrawn from Bank Cash A/c Dr. To Bank A/c For e.g.: Withdrawn Rs. 8000/- from SBI Entry Cash A/c To SBI

5000 5000

II

Dr.

8000 8000

III

When cash is Transferred from one Bank to another Bank. For e.g.: Transferred Rs. 10000/- from Canara bank to Dena bank Entry Dena Bank A/c Dr. 10000 To Canara Bank

10000

F5 - PAYMENT Payment is one of the important aspect of business payment can be made by cheque or in cash. Payment is made for expenses of business or to the party. I Payment of Expenses Expenses A/c Dr. To Cash/Bank A/c For e.g.: Salaries paid Rs. 5000/Entry - Salary A/c Dr. 5000 To Cash A/c 5000 II Payment to party Party A/c To Cash/Bank Payment to party & Discount Received.

Dr.

III

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672 Party A/c Dr. To Cash/Bank A/c To Discount Received For e.g.: Paid Rs. 14000/- by cheque to Sam Ltd. In full settlement of Rs.16000/Entry Sam ltd. A/c Dr. 16000 To Bank A/c 14000 To Discount Received 2000 F6 - RECEIPTS Payment may be received either in cash or by cheque. There are two ways of receipts i.e., from party or income received. I Income Received. Cash/ Bank A/c Dr. To Income A/c For e.g.: Commission Received Ts. 4000/Entry - Cash A/c Dr. 4000 To Commission Received A/c 4000 II Receipt from Party. Cash/Bank A/c Dr. To Party III Receipt from party & Discount allowed. Cash/Bank A/c Dr. Discount allowed Dr. To party A/c OUTSTANDING EXPENSES: For adjustment of outstanding expenses we required to create outstanding expenses account under the group current liabilities and entry under Journal Voucher Entry: - Expenses A/c Dr. To Outstanding Expenses A/c 5000 5000

Ex.: - Salary Outstanding Rs. 5000 Salary A/c Dr. To Outstanding Salary

PREPAID EXPENSES (Paid in Advance) For adjustment of prepaid expenses you required to create expenses account under the group current assets and entry under Journal Voucher.

Entry: - Prepaid Expenses A/c Dr. To Expenses A/c Ex. :- Insurance paid Rs. 5000 includes Rs. 500 prepaid Prepaid Insurance A/c Dr. 500 To Insurance

500

For e.g.: Received Rs. 17000/- from Lakhan Ltd. In full settlement of Rs. 20000/Entry Cash A/c Dr. 17000 Discount allowed A/c Dr. 3000 To Lakhan Ltd A/c 20000 F7 - JOURNAL I Debit Note: Debit note is prepared when goods are returned to party due to some Reason. It is also known as purchase return or return outward. Party A/c Dr. To Purchase return A/c II Credit Note:

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672 Credit note is prepared when party return goods due to some reason. It is also known as sales return or Return Inward. Return Inward/ sales return A/c Dr. To Party A/c III Journal: All adjustment entries & transfer entries are passed through Journal Voucher. For e.g.: Depreciation on fixed assets. Deprecation A/c Dr. To Assets A/c F8 - SALES There are two types of sales i.e. Credit sales & cash sales I Credit Sales: In case of Credit Sales we required to passed only one entry. Party A/c Dr. To Sales A/c II Cash Sales: In case of Cash Sales we required to passed two entries to give effect in sales Register as well as Cash Register. a) Create Cash Sales A/c under the group Sundry Debtor & Passed Entry under sales Voucher Cash Sales A/c Dr. To Sales A/c b) Pass entry under Receipt Voucher Cash/ Bank A/c Dr To Cash Sales A/c F9 - PURCHASE I Credit Purchase: In case of credit Purchase we have to passed only one entry Purchase A/c Dr. To Party A/c II Cash Purchase: In case of cash purchase we have to passed two entries to give effect in Purchase Register as well as Cash Book. a) Create Cash purchase A/c under the group Sundry Creditor & Passed entry under Purchase Voucher. Purchase A/c Dr. To Cash Purchase A/c b) Pass entry under payment Voucher Cash Purchase A/c Dr. To Cash/Bank A/c

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672 TALLY ASSIGNMENT

LEDGERS
Dena Bank Union Bank Ravindra Mustafa Santosh Wages Factory Rent Electricity Bill Telephone Bill Staff Salary Discount Given Printing and Stationary Conveyance Notary Charges Bank Interest Discount Received Commission Received Purchase Sales Return Sales Purchase Return Videocon International Bpl Ltd Samsung Elecronics Chetak Elecronics Nec Ltd Samtron Elecronics Capital Machinery Goodwill Patents and Copyrights Land and Building Loan From IDBI Bank of India Cash in hand

UNDERGROUPS
Bank Accounts Bank Accounts Capital Accounts Capital Accounts Capital Accounts Direct Expenses Direct Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Indirect Expenses Direct Incomes Indirect Incomes Indirect Incomes Purchase Accounts Purchase Accounts Sales Accounts Sales Accounts Sundry Debtors Sundry Debtors Sundry Debtors Sundry Debtors Sundry Creditors Sundry Creditors Capital Accounts Fixed Assets Fixed Assets Fixed Assets Fixed Assets Secured Loan Bank Accounts Cash In hand

OPENING BALANCE

Rs. 150000 Rs. 150000 Rs. 75000 Rs. 25000 Rs. 50000 Rs. 600000 Rs. 75000 Rs. 50000

MAKE INVENTORY
SYMBOL
DZN KG LTR MTR PC

FORMAL NAME
Dozen Kilogram Liter Meter Pieces

NO OF DECIMAL
2 3 3 2 0

STOCK GROUP A B C D

UNDER GROUP Primary Primary Primary Primary

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672

STOCK ITEM
STOCK ITEM Cabinet CDROM Floppy Drive Keyboard Mouse Speaker Aeroplane Aprone Cloth Aarey Ghee Bats Banana Lock Caps Cups Television VCR Picture Tubes Circuits UNDER GROUP A A A A A A B B B B B C C C D D D D UNIT PC PC PC PC PC PC PC MTR KG PC DZN PC PC DZN PC PC PC PC OPENING 10 10 10 10 10 10 10 6 100 10 10 10 10 10 1000 1000 1000 1000

PURCHASE & PAYMENT ENTRY

APRIL DATE th 4 th 18 JUNE DATE th 12 rd 3 AUGUST DATE th 15 th 26 VOUCHER 1000 Picture Tubes @ Rs.5000/- Each From Nec Ltd. Bill No. Nec101 2000 Circuits @ Rs.1000/- Each From Samtron Bill No.Sam101

VOUCHER 500 Tubes @ Rs.5000/- Each From Nec Bill No. Nec 102 1000 Circuits @ Rs.900/- Each From Samtron Bill No. Sam 102

VOUCHER 1000 Tubes @ Rs.5500/- Each From Nec Bill No. Nec 103 2000 Circuits @ Rs.900/- Each From Samtron Bill No. Sam 103

SEPTEMBER DATE VOUCHER nd 2 1500 Tubes @ Rs.5500/- Each From Nec Bill No. Nec 104 th 15 3000 Circuits @ Rs.1000/- Each From Samtron Bill No. Sam 104 DECEMBER th 5 500 Tubes @ Rs.5500/- Each From Nec Bill No. Nec 105 th 8 1000 Circuits @ Rs.900/- From Samtron Bill No. Sam 105

SALES & RECEIPT ENTRY

MAY th 15 th 18 JUNE 900 TV Sets @Rs.10000/Each To Videocon Bill No. 1 1000 Vcr @ Rs.5000/- Each To Bpl Ltd. Bill No. 2

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672 10 th 28 JULY th 10 th 18 AUGUST th 10 th 28

th

500 TV Sets @ Rs.10000/- Each To Videocon Bill No. 101 900 Vcr @Rs.4500/Each To Bpl Bill No. 102

500 Vcr @ Rs.5000/- Each To Chetak Electronics Bill No. 201 150 TV @ Rs.10500/- Each To Samsung Electronics Bill No. 202

200 TV Sets @ Rs.10000/- Each To Videocon Bill No. 301 900 Vcr @ Rs.5500/- Each To Bpl Bill No. 302

DECEMBER th 19 300 Vcr @Rs.5000/- Each To Chetak Electronics Bill No.401 th 28 150 TV @Rs.9500/- Each To Samsung Electronics Bill No. 402 DIRECT EXPENSES (Below Rupees 3000/- Cash & Above Rs.3000/- Bank) Factory : 80% Stores Packaging : : 10% 10% PARTICULARS DATE 7 April th 20 April th 25 April th 26 April 7 May th 20 May th 25 May th 26 May 7 June th 15 June th 20 June th 26 June
th th th

AMOUNT Rs.1,00,000/Rs.25,000/Rs.20,000/Rs.2,000/Rs.1,00,000/Rs.25,000/Rs.18,000/Rs.2,000/Rs.1,00,000/Rs.25,000/Rs.20,000/Rs.2,000/-

Wages To Workers Factory Rent Electricity Machinery Servicing Charges Wages To Workers Factory Rent Electricity Machinery Servicing Charges Wages To Workers Factory Rent Electricity Machinery Servicing Charges

INDIRECT EXPENSES (Below Rs. 5000/- Cash & Above Rs.5000/- Bank) Rent : 45% Rate : 35% Taxes : 20% DATE th 26 April th 27 April th 28 April th 29 April th 30 April 3 May th 7 May th 8 May th 20 May th 25 May 14 June
th rd

PARTICULARS Conveyance Traveling Postage Hotel Printing Conveyance Traveling Postage Hotel Printing Conveyance

AMOUNT Rs.25,000/Rs.35,000/Rs.2,000/Rs.15,000/Rs.1,000/Rs.20,000/Rs.15,000/Rs.8,000/Rs.3,000/Rs.5,000/Rs.2,000/-

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672 18 June th 19 June th 25 June th 28 June
th

Traveling Postage Hotel Printing

Rs.10,000/Rs.5,000/Rs.15,000/Rs.10,000/-

JOURNALISE THE FOLLOWING TRANSACTIONS DATE 1 June 2 June rd 3 June th 4 June th 5 June th 6 June th 7 June th 8 June th 9 June th 10 June th 11 June th 12 June 13 June 14 June th 15 June th 16 June th 17 June th 18 June th 19 June th 20 June st 21 June nd 22 June rd 23 June th 24 June th 25 June th 26 June th 27 June th 28 June th 29 June th 30 June st 1 July nd 2 July rd 3 July th 4 July th 5 July th 6 July th 7 July th 8 July th 9 July th 10 July th 11 July
th th nd st

TRANSACTION Mr.Prabhu started business with the following Machinery Rs.1,25,000/-, Furniture Rs.50,000/-, Cash Rs.25,000/-, Bank a/c Rs.25,000/Goods Purchased On Credit 45000/Conveyance Paid Rs.350/Cash Purchase Rs.5000/Postage And Stationary Expenses Rs.250/Xeroxing Charges PaidRs.300/Sold Goods To XYZ Enterprises On Credit Rs.60000/Received Part Payment By Cheque From XYZ Enterprises Against Sale Rs.35000/Insurance Premium Paid Rs.4715/Cash Sale Rs.8000/Cash Deposited In Bank Rs.5000/Purchased Goods On Credit From Mathur & Co. Rs.26000/Gurudas Started Business Cash Rs.10000/Opened Bank A/C In State Bank By Deposing Rs.2000/Bought goods (subject 5% trade discount.) Rs.2000/Sold Good Worth Rs.500/Gurudas Withdrawn Cash Worth Rs.100/- For Private Use. Received Rs.475/- From Kiran In Full Settlement Of his Ac Of Rs.485. Paid Sundry Expense Rs.50/Paid To Ramakant The Amount Rs.1000/- In Full Settlement Of Rs.1020/Paid Insurance Premium Of Rs.175/- On The Property Of Business. Cash Sales Rs.1000/Received Rs.14000/- From Mr.Anil In Full Settlement Of His Account. Withdraw Rs.10000/- For Office Use And Rs.5000/- For Personal Use. Ch 1321 Received From Raju International Of Rs.35000/Ch 1254 Given To Datapoint Of Rs.10000/Cash Withdraw Of Rs.25000/Ch 1231 Received From Rahul International Of Rs.40000/Interest Received Rs.7000/Interest Given Rs.7000/Cash Withdraw Of Rs.5000/Fixed Deposit In Bank Of Rajesh Of Rs.25000/- and Mahesh Of Rs.25000/Salary Due But Not Paid Rs.2000 Goods Of Rs.3000 Returned By Good Luck Ltd. Goods Of Rs.1000/- Destroyed By Fire. L.I.C. Premium Of Proprietor Paid By Cheque Rs.5000/Rent Due But Not Paid Rs.2500/Purchase Motor Car Of Rs.50000/- In Exchange Of Furniture Of Rs.45000/Goods Of Rs.1000/- As Well As Cheque Of Rs.10000/- Received From Anjali. Goods Of Rs.3000/- Returned to Softech Paid Interest On Loan Rs.5000/-

Q1. Mr. Jay Started Business with cash of Rs. 100000 on 1.7.2000 the name of Jay Co 02.07.2000 Open Bank A/c in National Bank by depositing Rs. 85000 05.07.2000 Sold Goods in Raman Ltd. Of Rs. 29000. 07.07.2000 Purchase Goods from Ajay Ltd. Of Rs. 31000.

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672 08.07.2000 10.07.2000 12.07.2000 15.07.2000 16.07.2000 18.07.2000 20.07.2000 21.07.2000 23.07.2000 24.07.2000 25.07.2000 27.07.2000 29.07.2000 30.07.2000 31.07.2000 Commission received Rs. 3000 Purchase goods from Sonal Ltd. Of Rs. 23500 Received Cheque of Rs. 11000 from Raman Ltd. Rent paid Rs.750 Sold goods to Saurav Ltd. Of Rs. 43000 Paid Rs.3500 to Sonal Ltd. Salary Rs. 5000 & Wages of Rs. 7500 paid by Cheque Purchase goods from Nikit Ltd. Of Rs. 14000 Advertisement Exp. Paid Rs. 2000 Received Rs. 13000 by cheque from Saurav Ltd. Sold goods to Jayesh Ltd. Of Rs. 19000 Received Rs. 5000 from Raman Ltd. Paid Rs. 10000 by cheque to Sonal Ltd. Paid Rs. 13000 by cheque to Ajay Ltd. Paid Rs. 4000 by Cheque to Nikit Ltd.

Q2. Mr. NAYAN started business with a cash of Rs. 75000, motor car of Rs. 5000 & furniture of Rs. 25000 in 01.01.99 in the name of M/S. NAYAN ENTERPRISES. 03.01.99 Purchase goods from Sanjay of Rs. 25000 05.01.99 Open Bank A/c in Bank of India by depositing Rs. 60000 10.01.99 Printing & stationery charges paid Rs. 900 13.01.99 Cash Purchases of Rs. 5000 16.01.99 Sold Goods to Anil Ltd. Of Rs. 39000 21.01.99 Paid Rs. 5000 Cash & Cheque of Rs. 10000 to Sanjay Enterprises. 25.01.99 Insurance paid by cheque Rs. 2000 31.01.99 Received cheque of Rs. 19000 from Anil Ltd. 03.02.99 Purchases Furniture of Rs. 15000 & paid by cheque. 08.02.99 Cash Sales of Rs. 11000 10.02.99 Withdrawn from Bank Rs. 10000 10.02.99 Salary of Rs. 6500 & Wages of Rs. 3500 paid 12.02.99 Purchase goods from Sagar Ltd. Of Rs. 12000 15.02.99 Telephone charges paid Rs. 12000 18.02.99 Sold goods of Rs. 19000 to Anil Ltd. 21.02.99 Withdrawn from Bank for Personal use Rs. 2000 23.02.99 Anil Ltd. Returned some goods of Rs. 1000 and paid of Rs. 5000 25.02.99 Paid Rs. 7000 by cheque to Sagar Ltd. 28.02.99 Commission received Rs. 3000 and Interest Rs. 1000 Q3. Miss ANKITA & NIKITA started business by contributing Rs 70000 and Rs. 80000 respectively in th 15 December 1998 in the name of M/S. NAINA Ltd. 17.12.98 They open Bank A/c with Abhyudaya Bank by depositing Rs. 130000 19.12.98 Purchase Goods of Rs. 35000 from Raj Ltd. 23.12.98 Some Defective goods returned to Raj Ltd. Of Rs.2500 26.12.98 Sold goods of Rs. 50000 to Dinraj Ltd. 28.12.98 Dinraj Ltd. Returned some goods of Rs. 2000 30.12.98 Traveling Expenses paid Rs. 2500 05.01.99 Cash Purchase of Rs.12000 08.01.99 Paid Rs. 30000 by cheque of Raj ltd. In full settlement his A/c 10.01.99 Received a cheque of Rs. 15000 from Dinraj ltd 13.01.99 Cash Sales Rs. 15000 15.01.99 Withdrawn from Bank Rs. 5000 16.01.99 Rent paid RS. 3500 18.01.99 Received Cash of Rs. 5000 and cheque of Rs. 10000 from Dinraj Ltd. 22.01.99 Purchase goods of Rs. 45750 from Super Fine Ltd. 25.01.99 Sold goods to Good Luck & co of Rs. 59850 28.01099 Sundry Expenses Rs. 1500, Insurance Rs. 2500 & Salary Rs. 4000 paid By Cheque. 30.01.99 Paid Rs. 15750 to Super Fine Ltd. By Cheque. 31.01.99 Received a Cash of Rs. 9850 and Cheque of Rs. 15000 from Good Luck & Co

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672

Q4. Mr. Raj Started Business with Cash of Rs. 50000 on 01.01.2001 the name of Raj & co. 02.01.2001 Open bank account in Bank of India Rs. 25000 04.01.2001 Purchase goods for cash Rs. 2000 06.01.2001 Sold goods for cash Rs. 5000 08.01.2001 Paid office cleaning charges Rs. 250 10.01.2001 Received commission Rs. 1000 15.01.2001 Purchase goods from LG Ltd. RS. 15000 17.01.2001 Sold goods to Manish Ltd Rs. 10000 18.01.2001 Paid to Neha Rs. 1000 20.01.2001 Received cash from Manish ltd. 5000 25.01.2001 Paid Salary Rs. 1000 & Wages of Rs. 500 27.01.2001 Paid Rs. 1000 to Yash Ltd 28.01.2001 Bought furniture for Rs. 10000 31.01.2001 Received cash from Manish Ltd. RS. 2000 03.02.2001 Sold goods to jay ltd Rs. 5000 05.02.2001 Goods return from Jay Ltd. Rs. 1500 06.02.2001 Withdrawn from bank for personal use Rs. 1000 09.02.2001 Deposited into bank Rs. 5000 10.02.2001 Paid for advertisement Rs.1000 13.02.2001 Received cash from Jay Ltd Rs. 2000 Budgets Provides an extensive financial and cost budget you can set annual and monthly budgets which are flexible to be modified according to change situation and get various budget. Every business has its objectives and goals. To reach its goals it must have an efficient mechanism to set its targets and appraisal of achievement in respect of an target to achieve the important managerial controls, its provides flexible system of budget Q4. Mr.Nikhil started business with a cash of Rs.150000 and equipment of Rs.75000, motor car Rs.25000 and furniture of Rs.25000 on 1.10.1998 in the name of NIKHIL INTERNATIONAL. 08.10.1998 15.10.1998 20.10.1998 23.10.1998 30.10.1998 05.11.1998 10.11.1998 15.11.1998 18.11.1998 23.11.1998 30.11.1998 05.12.1998 10.12.1998 15.12.1998 19.12.1998 23.12.1998 27.12.1998 31.12.1998 07.01.1999 14.01.1999 28.01.1999 08.02.1999 18.02.1999 27.02.1999 05.03.1999 Opened bank account in Maratha Mandir co.op. Bank by depositing Rs. 125000 Cash Purchase Rs. 10000 Bill No. 86. Purchase goods from Sahil Ltd. Rs 37000 as per Bill No. 281. Advertisement Exp. Paid Rs. 2500 (Budget to be created giving single payment limit Rs. 2250 and budget for the year Rs. 36000) Sold Goods to Anil Ltd. Of Rs. 51000 as per Bill No. 01 Cash Sales Rs. 21000 Bill No. 02. Paid Rs. 17000 by Cheque to Sahil Ltd. Purchased goods of Rs. 41000 from Robin & co. as per Bill No. 145 Goods returned to Robin & Co. of Rs. 1000 Received Rs. 11000 cash and Cheque of RS. 15000 from Anil Ltd. Investment purchased of Rs, 25000 by cheque. Delivery van exp paid Rs. 1000 (Budget to be created giving single payment limit Rs. 1500) Sold goods to Agarkar Ltd. Of Rs. 38000 as per bill no. 03 : Printing & stationery charges paid Rs. 2000 Agarkar Ltd. Returned defective goods of Rs. 3000. Received Rs. 5000 fro, Anil Ltd. Paid Rs. 18000 to Sahil Ltd. In full settlement of his account. Received Cheque of Rs. 15000 from Agarkar Ltd. Paid Rs. 10000 by cheque to Robin & co. Purchased goods from Nayan Ltd. Of Rs.15000 as per Bill No. 138 Dividend received Rs. 1000 Sold goods to Karan Ltd. Of Rs. 27000 bill no. 04 Insurance paid Rs. 2000 Withdrawn from bank for personal use Rs. 5000. Rent paid by cheque Rs.5000

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672 Q5. Mr. Vijay Started business with a cash of Ts. 60000, Machinery for Rs. 40000 and Furniture of Rs. 15000 on 01.04.1999 in the name of Vijay & Co. 12.04.1999 Purchase goods from Sanjay & Co. of Rs. 9500 as per bill no. 153 Credit allowed by the Co. 25 days. 15.04.1999 Some defective goods were returned to Sanjay & Co. of Rs. 500 17.04.1999 Sold goods to Ajay & co of Rs. 14000 s per bill no. 001 allowing credit period of 30 days. 20.04.1999 Paid for advertisement Rs. 2000. 21.04.1999 Deposited Rs. 50000 into Maharashtra Bank. 23.04.1999 Purchase goods from Sachin & co. of Rs. 18000 as per bill no. 105 Credit allowed by Co. 28 days. 25.04.1999 Paid for printing & stationery Rs. 1000. 30.04.1999 Purchase goods of Rs. 11000 from Sanjay & co. as per bill no. 169 Credit allowed by Co. 20 days. 02.05.1999 Paid Rs. 5000 by cheque to Sanjay & co. against bill no. 153. 05.05.1999 Sold Goods of Rs. 31000 to Martin and Co. as per bill no. 002 allowing credit period of 20 days. 07.05.1999 Salary paid Rs. 5000 by cheque. 09.05.1999 Paid Rs. 8000 by cheque to Sachin and Co. again bill no. 105. 13.05.1999 Sold Goods if Rs. 20000 to Ajay and Co. again bill no. 003 allowing credit period of 35 days. 14.05.1999 Received Rs. 10000 by cheque from Ajay & co. against bill no. 001. 18.05.1999 Withdrawn from Bank Rs. 5000. 20.05.1999 Wages paid Rs. 4000. 22.05.1999 Purchase furniture of Rs. 10000 and paid by cheque. 25.05.1999 Purchase Goods on cash of Rs. 5000 s per bill no. 083. 27.05.1999 Cash sales if Rs. 7500 as per bill no. 004. 30.05.1999 Paid Rs. 4000 by cheque against bill no. 153 to Sanjay and Co. 31.05.1999 Received Cash of Rs.4000 from Ajay & Co. against bill no. 001. Q6. Balance as on 01.04.1999 in the book of Hindustan Ltd. are as follows. Share capital 500000 Land & Building 300000 Share premium 50000 Motor Car 125000 13% Bank Loan 200000 Patents 65000 Loan From Ratanlal 100000 Investment 50000 Lakhan Ltd. (Cr.) 50000 Cash 25000 Krishna Ltd. (Cr.) 125000 Dena Bank 85000 Dharma Ltd. (Cr.) 40000 Parsik Janta Bank 75000 Sahil Ltd. (Cr.) 55000 Dipali Enterprises (Dr.) 90000 O/s rent 5000 Swagat Ltd (Dr.) 28000 O/s Salary 10000 Sanjog & Sanjog (Dr.) 30000 Plant & Machinery 125000 Akshar Ltd.(Dr.) 62000 Furniture 75000 04.04.1999 10.04.1999 18.04.1999 20.04.1999 30.04.1999 10.05.1999 20.05.1999 25.05.1999 10.06.1999 18.06.1999 30.06.1999 10.07.1999 20.07.1999 27.07.1999 09.08.1999 19.08.1999 30.08.1999 14.09.1999 18.09.1999 Purchase Goods from Dharma Ltd. Of Rs. 75000. Goods Returned to Dharma Ltd. Of Rs. 15000. Cash sales of Rs. 30000. Sold goods to Swagat Ltd. Of Rs. 85000. O/s Rent Rs. 5000 and O/s Salary Rs. 10000 paid by Cheque (DB). Salary of Rs. 10000 and Wages of Rs. 25000 paid by cheque (DB). Rent paid in advance Rs. 2000. Received cheque of Rs. 50000 from Deepali Enterprises (DB). Paid Rs. 75000 to Krishna Ltd. By cheque (DB) . Cash Purchase of Rs. 15000. Paid to Dharma Rs. 35000 by cheque in full settlement of Rs. 40000 (DB). Cash deposited in Punjab National Bank Rs. 5000. Purchased goods from Lakhan Ltd. Rs. 25000. Issued cheque of Rs. 20000 to Lakhan Ltd. (Parsik Janta Bank). Paid for Teleophone charges of Rs. 1500. Sold Goods to Sanjog & Sanjog of Rs. 65000. Commission Received of Rs. 15000. Cheque Received from Akshar Ltd. Of Rs. 60000 in full settlement of his A/c (PNB). Insurance paid Rs. 8000 by vheque (Parsik Janta Bank).

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672 29.09.1999 05.10.1999 25.10.1999 31.10.1999 31.10.1999 Q7. Goods returned by Sanjog & Sanjog of Rs. 5000. Withdrawn from Punjab National Bank Rs. 15000. Paid Rs. 25000 by cheque to Sahil Ltd. (Punjab National Bank). Depreciation to provided on Plant & Machinery @ 10%, Furniture @ 5%, Motor Car @ 10%, Land & Building @ 7.5%. Provide for O/s rent Rs. 7500 and O/s Salary Rs. 5000.

Mr. Yogi started business with cash of Rs. 150000 and Furniture of Rs. 50000 on 01.01.2000 03.01.2000 Open Bank Account in Corporation Bank by depositing Rs. 125000. 05.01.2000 Purchase 10 TV Sets @ Rs. 12000 each from Akai Ltd. 07.01.2000 Purchased 15 Audio System from Soni Ltd. @ Rs. 8000 each. 09.01.2000 Paid Rs. 10000 for Advertisement. 11.01.2000 Sold 6 TV Sets to Raj Electronic @ Rs. 15000 each. 13.01.2000 Paid Rs. 25000 by cheque to Akai Ltd. 15.01.2000 Received cheque of Rs. 25000 and Cash of Rs. 15000 from Raj Electronics. 18.01.2000 Purchase 20 Tape Recorders from Videocon Ltd. @ Rs. 10000 each. 20.01.2000 Sold 12 Audio Systems to Maharashtra Electronics @ Rs. 10000 each. 21.01.2000 Paid Rs. 30000 by cheque to Sony Ltd. 23.01.2000 Purchase 25 Video CD @ Rs. 200 each from Yash Enterprises. 25.01.2000 Sold 15 Tape recorders to Jay Enterprises @ Rs. 3000 each. 27.01.2000 Received cheque of Rs. 50000 from Maharashtra Electronics. 28.01.2000 Paid for Tent Ts. 5000 and Printing Rs. 2000. 29.01.2000 Salary paid by cheque Rs. 10000. 30.01.2000 Sold 15 Video CD to Nitin & Co. @ Rs. 300 each. Mr. Anish started business with cash of Rs. 175000 and Furniture of Rs. 30000 on 01.07.2000. Open Bank Account in Bank Of India by depositing Rs. 125000. Purchase 30 Keyboard @ Rs. 600 each from Samsung Ltd. And 6 PC Sets @ Rs. 32000 each. Purchase 15 floppy drive from Sony Ltd. @ Rs. 777 each and 15 Printer @ Rs. 5250. Paid Rs. 10000 for Advertisement. Sold 6 PC Sets to Raj Computer @ Rs. 35580 each. Paid Rs. 12000 by cheque to Samsung Ltd. Received cheque of Rs. 45000 and Cash of Rs. 20000 from Raj Computer. Purchase 250 Monitors from Intel Ltd. @ Rs. 7550 each. Sold 20 Pinter to Maharashtra Electronics Ltd. @ Rs. 5400 each. Paid Rs. 5000 by cheque to Sony Ltd. Purchase 25 CD @ Rs. 200 each from Yash Enterprises. Sold 15 Monitors to Cyber Enterprises @ 8500 each. Received cheque of Rs. 510000 from Maharashtra Electronics. Paid for Rent Rs. 5000 and Printing Rs. 6550. Salary Paid by cheque Rs. 10000. Sold 15 CD to Nitin & co. @ Rs. 300 each.

Q8. 03.07.2000 05.07.2000 07.07.2000 09.07.2000 11.07.2000 13.07.2000 15.07.2000 18.07.2000 20.07.2000 21.07.2000 23.07.2000 25.07.2000 27.07.2000 28.07.2000 29.07.2000 30.07.2000

Cost centers Tally provides allocation of all expenses and income into cost centers and organizes them into different (Primary & Secondary) level. Cost center is any unit in an organization to which costs can be allocated. Cost centers may be various branches, departments, projects, products and so on. For example you may analyze the salary expenses according to branches and departments.

DATAPOINT COMPUTER EDUCATION, KURLA (EAST) 69568672

Q9.

M/s Jay Enterprises having three departments i.e. Dept T, Dept R, & Dept. A show the following balance as on 1.04.2000. Equity share capital 100000 Plant & Machinery 50000 Preference Share Capital 50000 Office equipment 50000 General Reserve 10000 Motor Car 75000 5% Debentures 20000 Furniture 10000 Deep Enterprises (Cr.) 20000 Cash 10000 Yash Enterprises (Cr.) 25000 Bank of India 15000 Rahul Enterprises (Cr.) 25000 Nitin & Co. (Dr.) 18000 Dinesh & Co. (Dr.) 22000 03.04.2000 05.04.2000 07.04.2000 09.04.2000 11.04.2000 15.04.2000 20.04.2000 21.04.2000 25.04.2000 28.04.2000 29.04.2000 02.05.2000 05.05.2000 10.05.2000 15.05.2000 Purchase Goods for Dept. T from Deep Enterprises of Rs. 85000. Purchase Goods from Yash Enterprises for Dept. R of Rs. 70000. Paid for Advt. In the ration of 2:1:1 Rs. 10000 by cheque. Received Rs. 20000 by cheque from Dinesh & Co. Received Cash of Rs. 5000 & cheque of Rs. 10000 from Nitin & Co. Sold Goods of Rs. 105000 to Raj & co. for Depts. T. Purchase Goods from Saurav & Co. of Rs. 20000 for Dept. A. Paid Rs. 20000 to Deep Enterprises by cheque. Withdrawn from bank Rs. 10000. Traveling expenses paid Rs. 5000 in the ratio of 2:2:1. Received Rs. 25000 by cheque from Raj & Co. Sold Goods to Nitin & Co. Rs. 35000 from Department A. Commission Received Rs. 15000 in the ration of 1:1:1. Furniture purchase Rs. 5000 & paid by Cheque. Sold Goods of Rs. 95000 to Dinesh & Co. from Department R.

Q10. Mr. Mangesh started business on 1.10.1998 with cash of Rs. 65000 and Machinery of Rs. 35000. The Co. Deals in 3 types of Product i.e. Product A, Product B, & Product C. 03.10.1999 05.10.1999 07.10.1999 08.10.1998 10.10.1998 12.10.1998 14.10.1998 15.10.1998 17.10.1998 18.10.1998 20.10.1998 21.10.1998 23.10.1998 24.10.1998 27.10.1998 30.10.1998 Deposited Rs. 50000 in State Bank of India. Purchase Goods of Product B from Bhavesh Ent. Of Rs. 13000. Purchase of Product B from Ajay Ltd. Of Rs. 18000. Traveling expenses paid Rs. 5000 in the ratio of 2:1:1. Goods sold of Product A to Sachin Ltd. Of Rs. 27000. Goods purchase of Product C from Chandan Ltd. Of Rs. 9000. Goods sold of Product B to Pravin Ltd. Of Rs. 21000. Rent paid Rs. 3000 in the ratio of 1:1:1. Paid Rs. 8000 by cheque to Ajay Ltd. Received Rs.12000 from Sachin Ltd. Paid Rs. 5000 by cheque to Bhavesh Enterprises. Sold goods of product C to Yash Ltd. Of Rs. 15000. Commission Received Rs. 3000 in the Ratio of 1:1:1. Paid Rs. 4000 by cheque to Chandan Ltd. Received Cash Rs. 2500 & Cheque of Rs. 5000 from Yash Ltd. Received Cheque of Rs. 5000 from Sachin Ltd.