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    Microsoft Word - Tally Assignment MArch 2015

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    Kaku Ghoshal
    This document provides instructions for a Tally practical assignment involving creating a company and recording transactions in Tally software. The company SYA is to be created with the provided details. Various accounts like fixed asset groups, cost centers, and stock items are to be set up. Transactions including capital investment, purchases, sales, expenses are then to be recorded by passing journal entries. Depreciation, interest calculations and an export transaction are also included to be recorded in the Tally software.

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    Microsoft Word - Tally Assignment MArch 2015

    Uploaded by

    Kaku Ghoshal
    143 views2 pages
    This document provides instructions for a Tally practical assignment involving creating a company and recording transactions in Tally software. The company SYA is to be created with the provided details. Various accounts like fixed asset groups, cost centers, and stock items are to be set up. Transactions including capital investment, purchases, sales, expenses are then to be recorded by passing journal entries. Depreciation, interest calculations and an export transaction are also included to be recorded in the Tally software.

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    This document provides instructions for a Tally practical assignment involving creating a company and recording transactions in Tally software. The company SYA is to be created with the provided details. Various accounts like fixed asset groups, cost centers, and stock items are to be set up. Transactions including capital investment, purchases, sales, expenses are then to be recorded by passing journal entries. Depreciation, interest calculations and an export transaction are also included to be recorded in the Tally software.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    143 views2 pages

    Microsoft Word - Tally Assignment MArch 2015

    Uploaded by

    Kaku Ghoshal
    This document provides instructions for a Tally practical assignment involving creating a company and recording transactions in Tally software. The company SYA is to be created with the provided details. Various accounts like fixed asset groups, cost centers, and stock items are to be set up. Transactions including capital investment, purchases, sales, expenses are then to be recorded by passing journal entries. Depreciation, interest calculations and an export transaction are also included to be recorded in the Tally software.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    DCTs S. S.

    Dempo College of Commerce and Economics


    Altinho - Panaji

    B.Com. Semester IV, March 2015


    E-Commerce and E-Accounting
    Tally Practical Assignment

    Q.1 Create the company with following details in Tally software and pass the journal entries for
    the transactions given below.

    Company details :
    Company Name : SYA Roll No.
    Mailing Name : Your Full Name
    Accounting year : 1.4.2014 31.3.2015

    Account structure :
    (i) Create groups (a) Equipments and (b) Furniture both under fixed assets
    (ii) Create cost centres (a) Employee Expenses, (b) Promotion Expenses and (c) Finance
    Expenses
    (iii) Create following stock item: (a) Printers (b) Scanners (c) Plotters.
    (iv) Create two godowns: (a) Panaji [for Printers and scanners] (b) Margao [for Plotters]

    Transactions:
    Sr. Date Transaction
    No.
    1 1.4.14 Invested capital in business Rs.50,00,000 through GMC Bank.

    2 1.4.14 Bought Office Furniture for Rs.50,000. Payment made by cheque.


    Bought Laptop for office use for Rs.25000 on credit basis from GK &
    SONS.
    3 1.4.14 Borrowed loan of Rs.1,00,000 from GMC Bank @10% p.a. interest. Amount
    of loan credited in firms bank A/c with GMC.
    4 1.4.14 Withdrew cash of Rs.1,00,000 from GMC Bank for business expenses. From
    this amount paid Advance Rent of Rs.6000 for office premises for April and
    May months. Rent to be adjusted accordingly for respective months.
    5 1.5.14 Bought office stationery for Rs.10,000. Amount paid by cash
    6 1.6.14 Withdrew cash of Rs.10,000 from GMC Bank for personal purpose.
    Sr. Date Transaction
    No.
    7. 1.6.14 Purchased 10 scanners @ Rs.10,000 each. Amount paid by cheque.
    8. 1.7.14 Purchased 10 Printers @ Rs.6000 each and amount paid by cheque.
    9. 1.7.14 Purchased 10 Plotters @Rs.30000 each on credit basis from KK Machines.
    10. 1.7.14 Paid salary Rs.50,000 by cheque.
    11. 1.8.14 Paid bonus of Rs.10000 by cash to employees
    12. 1.8.14 Sold 5 scanners for Rs.25000 each to Akash Enterprises @10% discount.
    Amount received by SBI cheque. Discount is promotional expense.
    Created fixed deposit of Rs.20,000 in GMC Bank through account transfer.
    Interest rate on fixed deposit is 9.5% p.a. FD is for one year.
    13. 1.9.14 Sold 5 Printers for Rs.15000 each to JK & Co. on credit basis.
    14. 1.9.14 Sold 5 Plotters for Rs.50,000 each. Payment received by cheque.
    Sold 3 printers for Rs.20000 each on credit basis to DAYA &CO.
    15. 1.10.14 Paid for advertising Rs.15,000 by cash which also included prepaid
    advertisement amount of Rs.5000 towards banners.
    16 1.10.14 Depreciation to be charged on all fixed assets @12% p.a.
    17 1.10.14 Record interest on loan paid by cash and interest on fixed deposit added to
    FD a/c.
    18 1.11.14 Exported 2 Plotters to JACK & CO in US @$4000 each. Exchange rate
    applicable is 1$=Rs.60.25. 50% of the amount received by bank transfer to
    GMC bank.

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