UNIVERSITY OF DELHI– PRACTICAL EXAMINATION, 2021
DAULAT RAM COLLEGE
B.COM(H) – IST SEMESTER (CBCS)
PAPER CODE: 22411101 PAPER NAME: FINANCIAL ACCOUNTING
Duration: 1 hour Max. Marks: 20
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Q: The company details are as follows:
i. Create a company with the Title of your name underscore Form No.
ii. Address: Your Address, Your Phone & Mobile No., Your Email
iii. Currency Symbol: Rs.
Enter the following transactions of the Company in Tally and show various reports
➢ All purchase and sales transactions of goods, Payment to creditors, and receipt from debtors
are done through State Bank of India
➢ Any other payment and receipt is done through HDFC Bank
Balance Sheet as at 31-3-2020
Liabilities Amount Assets Amount
Capital 20,00,000 Land and Building 15,00,000
General Reserve 10,00,000 Plant and Machinery 18,00,000
Profit and Loss account 8,00,000 Furniture 1,70,000
Secured loan 2,00,000 Investments 80,000
Debentures (unsecured) 2,50,000 Cash in hand 35,000
Creditors 2,50,000 HDFC Bank 2,25,000
Bills Payable 75,000 State Bank of India 1,75,000
Provision for Tax 33,000 Stock 3,95,000
Salaries Outstanding 25,000 Bills Receivable 85,000
Rent Outstanding 37,000 Debtors 2,05,000
TOTAL 46,70,000 TOTAL 46,70,000
➢ The company deals in the following stocks:
Items Group Quantity Price (Rs.) Amount (Rs)
Kajal Lakme 50Pcs 500 25,000
Cream Lakme 500Pcs 120 60,000
Eyeliner Lakme 400Pcs 200 80,000
Nail Paint Colorbar 80Pcs 1000 80,000
Lipstick Colorbar 45Pcs 2000 90,000
Mascara Colorbar 100Pcs 600 60,000
Total 3,95,000
➢ The list of company debtors and creditors is as follows:
Debtors Amount Creditors Amount
Niti 70,000 Amit 85,000
Nick 85,000 Akash 95,000
Nitin 50,000 Ajay 70,000
TOTAL 2,05,000 TOTAL 2,50,000
Record the following transactions that took place during the April to March 2021.
S.No. Transaction Item Quantity Amount
1 Purchased from Amit Kajal 30 12000
2 Sale to Nitin Cream 30 18000
3 Paid money to Amit in full settlement for the 10000
transaction at sr. no. 1 above
4 Received from Nitin Rs 17500 in the full
settlement of transaction at sr. no. 2 above
5 Sale to Nick (Trade discount 15% on list 20 Cream, List Price
price) Rs.200/- each
6 Purchased furniture 25000
7 Purchased Land and Building from XY Ltd for Rs. 500000. To pay this the company
borrowed a loan of Rs. 200000 and issue fully paid debentures of Rs. 300000 to XY Ltd.
8 Paid
1. Telephone 5000
2. Salaries(including o/s) 50000
3. Rent (including o/s) 80000
4. Advertising/prepaid expense 190000
9 Total Outstanding at the end:
1. Salaries 20000
2. Rent 5000
Charge Depreciation on furniture @10% p.a. and Machinery @ 20% p.a.
You are required to:-
1. Create a company as per details given above
2. Create appropriate groups and Ledger Accounts.
3. Enter the transactions as given selecting appropriate voucher type.
4. Generate and Upload the following statements on Google Classroom Assignment titled “Tally
Practical Examination 2020-21”.
a. Day book as on 31/3/2021
b. Trial Balance as on 31/3/2021
c. Profit and Loss Account as on 31/3/2021
d. Balance Sheet as on 31/3/2021
e. Screenshots of your Tally software showing each of the above statements in your tally.
(4 screenshots in total to be compressed in pdf format).
