Lesson – 1
Create the following B/S and Transaction of DGP Co. Ltd.
Balance Sheet as on 31-03-2010
Liabilities Assets
Capital A/C 1,85,000.00 Land & Building 45,000.00 P/L 55,000.00 Plant & Machinery 60,000.00
S. Creditors S. Debtors
DGP Steel 15,000.00 KK Enterprises 20,000.00 Gupta & Co. 10,000.00 MS Co. Ltd. 15,000.00 Bills Payables 5,000.00 Bills Receivables 7,000.00 Cash in Hand 75,000.00 ICICI Bank 48,000.00 =========== ============= 2,70,000.00 2,70,000.00 =========== ============= Transactions 1.4.2003 Salary paid Rs. 500 6.4.2003 Interest receipts Rs. 1500
10.4.2003 Purchase Goods Rs. 6800 form DGP Steel 15.5.2003 Electricity paid by cheque Rs. 300
25.5.2003 Sold Goods to KK Enterprises Rs. 15000 30.5.2003 Cash paid into ICICI Bank Rs. 4000 5.6.2003 Salary paid Rs. 2000
DURGAPUR YOUTH COMPUTER TRAINING CENTRE Lesson – 2
Create the following B/S and Transaction of DURGAPUR STEEL Co. Ltd.
Balance Sheet as on 31-03-2003
Liabilities Assets
Capital A/C 1,75,000.00 Land 40,000.00
P/L 40,000.00 Machinery 70,000.00
S. Creditors S. Debtors
Saha & Co. 5,000.00 India Co. Ltd. 10,000.00 Excel Co. Ltd. 8,000.00 MG & Co. 5,000.00 Outstanding Rent 7,000.00 Cash in hand 65,000.00 HDFC Bank 45,000.00 ============= ============= 2,35,000.00 2,35,000.00 ============= ============= Transactions 5.4.2002 Wages paid Rs. 800 10.4.2002 Salary paid Rs. 3500
15.5.2002 Purchase Goods from Saha & Co. Rs. 7000 20.5.2002 Commission Receipts Rs. 500
25.5.2002 Sold goods to India Co. Ltd. Rs. 15000 30.5.2002 Cash withdraw form IIDFC Bank 8000 6.6.2002 Goods return to Saha & Co. 1500 8.7.2002 Salary paid Rs. 1800
10.7.2002 Goods return from India Co. Ltd. Rs. 800 15.7.2002 Cash Deposited into bank Rs. 4000
5.8.2002 Purchase goods from Excel Co. Ltd. Rs. 9000 10.8.2002 Goods sold by Cash Rs. 12500
20.9.2002 Goods return to Excel Co. Ltd. Rs. 1000 30.3.2003 Deprec.
Land Rs. 1500 Machinery Rs. 1000
DURGAPUR YOUTH COMPUTER TRAINING CENTRE Lesson – 3
Create the following B/S and Transaction of Chopra International Balance Sheet as on 31-03-2003
Liabilities Assets
Capital A/C Goodwill 65,000.00
Mr. A – 65000 Mr. B – 50000
Mr. C – 55000 1,70,000.00
P/L 58,000.00 Machinery 70,000.00
S. Creditors S. Debtors
Roy & Co. 15,000.00 ABC Co. 10,000.00 Raj & Raj 12,245.00 MGM & Co. 5,000.00 Outstanding Rent 4,000.00 Cash in hand 31,000.00 SBI Bank 20,000.00 UBI Bank 45,000.00 Closing Stock 13,245.00 =========== =========== 2,46,000.00 2,46,000.00 =========== =========== Stock item
Item Unit Purchase Rate Sales Rate Op. Balance
Shirt Nos. 100/- 120/- 100
Cloth Mts. 60/- --- 50
Button Doz 3/- --- 40
Thread Rls. 2.50 --- 50
Transactions
3.4.2003 Purchase Shirt 30 Nos. from Raj & Raj on Credit Rs. 3000 5.4.2003 Commission receipts Rs. 450
10.4.2003 Sold shirt 50 nos. to ABC Co on credit 6000 12.4.2003 Transfer money from UBI to SBI Rs. 4000 15.4.2003 Cash receipts ABC co. Rs. 3000
18.4.2003 Cheque (SBI) paid Raj & Raj Rs. 2000 20.4.2003 Cheque receipts from MGM & Co. 4800 20.4.2003 Discount allowed to MGM & Co. 200 25.4.2003 Purchase cloth 30 Mts. By cheque (UBI) 26.4.2003 Cash with draw from bank (UBI) Rs. 2000 30.4.2003 Sold shirt 60 Nos. by Cash
Lesson No. : 2
………
Do the following Entries : For the Month of APRIL :
1.4.98 Wages paid in Cash Rs. 5000 5.4.98 Salary paid in cash Rs. 1000 10.4.98 Manufacturing Expenses Rs. 2000 15.4.98 Purchase in credit from Ram Rs. 7000 20.4.98 Sales on credit to Tom Rs. 3000 25.4.98 Machinery Repairs Rs. 3000 30.4.98 Carriage Inward Rs. 2000
For the Month of MAY :
1.5.98 Carriage Outward Rs. 3000 5.5.98 Salary paid in Cash Rs. 900 10.5.98 Interest paid Rs. 4000 in cheque 15.5.98 Purchase Factory Rs. 10000 20.5.98 Purchase Furniture Rs. 9000
25.5.98 Purchase Machinery in Cash Rs. 8000 30-05-98 Cash paid to Bank Rs. 5000
For the Month of JUNE :
5.6.98 Salary paid in cash Rs. 800 10.6.98 Rent paid in cash Rs. 2600
15.6.98 Electricity paid in Cheque Rs. 700 20.6.98 Loan Received Rs. 20000
25.6.98 Rates paid in Cash Rs. 500 30.6.98 Commission Received Rs. 1000 30-06-98 Purchase Return to Ram 1100
For the Month of JULY :
5.7.98 Salary paid in cash Rs. 700 10.7.98 Cash purchase Rs. 5000 15.7.98 Cash sales Rs. 40000 20.7.98 Wages paid Rs. 4000 25.7.98 Sales Return Rs. 1200 30.7.98 Carriage Inward Rs. 1000 30-07-98 Depreciation on Machinery Rs. 1500
DURGAPUR YOUTH COMPUTER TRAINING CENTRE Financial Accounting
1. Create a Company by both Partners
Financial Year Starting 01-04-2005 to 31-03-2006
Liabilities Amount Assets Amount
Capital 1,50,000 Goodwill 30,000
Profit & Loss A/c 30,000 Furniture 20,000 Loan 70,000
Creditors Debtors
Digit Infocom 50,000 Das Bros. 15,000 [TR 1001 – 15/02/2003] [TD 1001 17/01/2003]
RK Infocom 30,000 Bose Bros. 30,000
[TR 2001 – 05/02/2003] [TD 2001 11/02/2003] Cash in hand 60,000 Cash at SBI 40,000 Closing stock 1,35,000 ========== ============ 3,30,000 3,30,000 ========== ============
Closing Stock Details Shown Here
TV Set - 5 Pic @ Rs. 1,50,000/-Radio - 50 Pic @ Rs. 700/-VCD - 10 Pic @ Rs.
2,500/-ITEM DETAILS
Item Unit Purchase Rate Sales Rate
TV Set Pic 15,000/-
18,000/-Radio Pic 700/-
850/-VCD Pic 2,500/-
3,000/-DURGAPUR YOUTH COMPUTER TRAINING CENTRE Financial Accounting
VAT LESSON – 2 Do the following :
1.4.2003 Paid the Entertainment Expenses Rs.
230/-3-4-2003 Credit Sales to the Das Bros, following with Bill No. : TD 1002 4 Pic TV Set (Extra Vat charges 4%)
5 Pic VCD (Extra Vat charges 4%) 5 Pic Radio (Extra Vat charges 4%) 5.4.2003 Interest Received Rs. 5000
7.4.2003 Purchase the following Goods with extra vat charges 8 Pic TV Set
10 Pic VCD 10 Pic Radio
From Digit Infocom with Bill – TR 1002 15.4.2003Paid for Office Expenses 500/- & Advertisement 200/-28.4.2003Sales to Mrs. Dey in Cash (Extra Vat charges each item)
05-05-2003 Credit Sales to Das Bros and Bose Bros respectively The following items
10 Pic Radio, 2 Pic Radio and 2 Pic TV Set
With Bill Das Bros, TD 1003 & Bose Bros TD 2002
19-06-2003 Sales 5 Pic TV Set, 12 Pic Radio, 5 Pic VCD in cheque of SBI With extra Vat charges
28.6.2003Payment made to Digit Infocom against Dues
Bill No. – TR 1001 in fullment and ret adjustment in Bill TR 1002 Rs.
1,50,000/-17.7.2003Purchase 10 Pic VCD from RK infocom Bill : TR2002 with Extra Vat charges
25.9.2003Payment made by Das Bros his against dues Rs. 1,00,000/-Full Payment of Bill : TD1001 & TD1003
& ret will adjusted TD 1002
17.2.2004Expenses for Travelling Rs. 50/- and Entertainment 20/-30-03-2004 Payment made in cheque of SBI Rs. 50,000/- for Loan
LESSON FOR TALLY LESSON - 1
Create a new company IN YOUR NAME with the financial period ranging from 1-4-97 to 31-3-98 and create the budget heads along with their opening balances
Balance sheet as on 01.04.97 LIABILITY ASSETS Capital 2,00,000 Goodwill 50,000 P/l a/c 53,000 Factory 20,000 Loan 40,000 Plant 20,000 Furniture 20,000 S/Creditors : S/Debtors : Ram (Sc 1) 5.3.97 10,000 Tom (Sd 1) 5.3.97 10,000 Sham (Sc 2) 10.3.97 9,000 Dick (Sd 2) 10.3.97 9,000 Jadu (Sc 3) 15.3.97 8,000 Harry (Sd 3) 15.3.97 8,000
Outstanding Rent 5,000 Bank 50,000
Cash 1,38,000
======== ============
3,25000 3,25000
======== ============
Workings :
a) Name : Factory Type : Primary b) Name : Office Type : Primary
Group Creation : Company have one Branch in Delhi and another at Calcutta. Company have four Staff viz. A,B,C & D. In these Branches and payment made in this way.
I) Total Salary a/c II) Calcutta Branch Under : Expenses Indirect Under : Total Salary
III) Delhi Branch
Under : Total Salary Ledger Should be Created in this way
1. Mr. A a/c 2. Mr. B a/c
Group : Calcutta Branch Group : Calcutta Branch 3. Mr. C a/c 4. Mr. D a/c
Group : Delhi Branch Group : Delhi Branch
Do the following Entries :
-1.4.97 Wages paid 2000 [Factory Staff 1000 & Office 1000] 5.4.97 Salary paid to Mr. A 1000
10.4.97 Manufacturing Expenses 2000 [Factory]
15.4.97 Purchase in Credit from Ram 7000 [Factory Bill No. : SC4] 20.4.97 Sales in credit to Tom 11000 [Factory Bill No. : SD4] 25.4.97 Machinery Repairs 3000 [Factory]
30.4.97 Carriage Inward 2000 [Factory 1000 & Office 1000] 1.5.97 Carriage Outward 3000 [Factory 2000 & Office 1000] 10.5.97 Purchase a New Factory Rs. 10000
15.5.97 Purchase a New Furniture in Cheque 9000 20.5.97 Purchase a New Machinery 8000
30.5.97 Salary paid to Mr. A Rs. 800
1.6.97 Purchase in credit from Shyam 6000 [Factory 5000, Office 1000 Bill No. SC5]
Lesson No. : 3 (Bill by Bill)
………
Do the following Entries :
-3.8.97 Electricity paid in Cheque [Factory – 500, Office – 200] Rs. 700 6.8.97 Sales in Credit to Dick 7000 [Factory – 6000, Office – 1000]
Bill No. SD5
25.8.97 Credit Purchase from Jadu 6000 [Factory] Bill No. SC6 27.8.97 Salary Paid to Mr. C Rs. 3000
30.8.97 Tom paid to Ram Rs. 2000 Bill will be adjusted against the [SC1 Rs. 1000, SC4 Rs. 1000] and [SD1 Rs. 1000, SD4 Rs. 1000] 5.9.97 Credit sale to Harry Rs. 6000 Bill No. SD6
8.9.97 Dick paid to Shyam Rs. 4000 [SD2 Rs. 2000, SD5 Rs. 2000] and [SC2 Rs. 2000, SC5 Rs. 2000]
10.9.97 Harry paid to Jadu Rs. 3000 [SD3 Rs.1500, SD6 Rs. 1500] and [SC3 Rs. 1500, SC6 Rs. 1500]
15.9.97 Purchase Return to Mr. Ram Rs. 1500 [SC1 Rs. 500, SC4 Rs. 1000]
18.9.97 Salary paid toMr. D Rs. 900
20.9.97 Sales Return from Tom Rs. 1500 [SD1 Rs. 800, SD4 Rs. 700] 25-09-97 Depreciation : --
………
i) Furniture Rs. 2000 ii) Factory Rs. 3000 iii) Plant Rs. 4000
26.9.97 Paid to Mr. Ram Rs. 1000(against Bill No. SC1 Rs. 500 and SC4 Rs. 500)
28.9.97 Cheque received from Mr. Dick Rs. 1000 on account
1.10.97 Paid to Mr. Shyam Rs. 1000 (against Bill No. SC2 Rs. 500 and SC5 Rs. 500)
2.10.97 Cheque dishonored by Bank Rs. 1000 (Which was received from Mr. Dick on 28-09-97 on account)
10.10.97 Paid to Mr. Jadu on his account Rs. 1000
12-10-97 Cheque received from Mr. Dick Rs. 1500 (against Bill no. SD2) 14-10-97 Paid to Mr. Shyam Rs. 1000 (against Bill No. SC2 Rs. 500 and SC5 Rs. 500)
20.10.97 Rent paid Rs. 2000 [Factory 1500 & Office 500] 1.11.97 Paid outstanding Rent Rs. 3000 (Previous year) See the following Reports
Trial Balance Bill Wise Reports Working Report