Practice Question 2

Computerized Accounting System

The company details are as follows :

i) Name – University Roll No

ii) Address – Your Address , Your Phone & Mobile No. , Your Email ID
iii) Currency Symbol : Rs.

Enter the following transactions of the company in Tally and show various reports

 The business is a registered organization for GST with an office in Delhi.

 GSTIN : 07DUUPK9284D7Z5
 All purchase and sales transactions of goods , Payment to creditors, and receipt from
debtors are made through RBL Bank.
 Any other payment and receipt is done through UCO bank
 Skip date and narration while passing voucher entries.
Balance Sheet as at 31-3-2022

Liabilities Amount Assets Amount

Capital 2100000 Land 800000
Reserves 750000 Machinery 430000
Profit and Loss Account 380000 Investment 200000
Debtures (Unsecured) 800000 Stock 2038750
Loan from Promoters 250000 Debtors 227000
Provision for Tax 300000 Bills Receivables 70000
Bills Payable 620150 RBL Bank 900000
Sundry Creditors 175600 UCO Bank 750000
Salaries Outstanding 45000 Cash in hand 35000
Rent Outstanding 30000
Total 5450750 Total 5450750
 The company deals in the following stocks :

Name of the Group GST Rate Quantity Rate (Rs.) Opening

items (%) Stock Value
Cotton Shirt Shirt 12 650 pcs. 1100 715000
Woolen Shirt Shirt 12 550 pcs. 1275 701250
Terrycot Shirt Shirt 12 150 pcs. 2100 315000
Cotton Trouser 12 250 pcs. 850 212500
Trouser
Wollen Trouser 12 100 pcs. 450 45000
Trouser
Terrycot Trouser 12 100 pcs. 500 50000
Trouser
Total 2038750
 The list of company debtors and creditors is as follows :

Debtors Balance Due Creditors Balance Payable

Surbhi 79000 Neha 35000
Ram 62000 Ruchi 20500
Heena 45000 Reena 65500
Ravi 41000 Aditi 54600
Total 227000 Total 175600

Record the following transactions :

S.No. Transactions Item Quantity Amount

1 Purchase from Neha. She is a Terrycot 150 90000
registered supplier from Goa. Trouser
GSTIN :30GGGGG1314R6Z1
2 Sale to Surbhi. She is registered Woolen 60 336000
supplier from Delhi. GSTIN : Trouser
07DUUPK9284D5Z1
3 Sale to Heena. She is a Woolen 100 400000
regitered supplier from Delhi. Shirt
GSTIN : 07DUUPK9284D5Z2
4 Paid money to Neha in full 86000
settlement for the transaction
at sr. no. 1 above
5 Received from Surbhi Rs.
332000 in full settlement for
their current transaction at sr.
no. 2 above
6 Paid to Reena in Full 62500
Settlement
7 Purchase from Ruchi. She is Terrycot 100 160000
registered supplier from Goa. Shirt
GSTIN : 30GGGGG1314R6Z2
8 Purchase from Neha. She is a Woolen 110 77000
registered supplier from Goa. Trouser
GSTIN : 30GGGGG1314R6Z1
9 Sale to Ram (Trade discount Cotton 110 pcs. List price Rs.
10% on listprice). Shirt 2500/-each
GSTIN : 07DUUPK9284D5Z3
10 Purcahsed Machinery at the Cotton 70000
beginning of the year Shirt
11 Purchased Land from MN Ltd.
For Rs. 11,00,000 to pay this
the company borrowed froma
bank loan of Rs. 6,00,000 and
issued fully paid unsecured
debentures of Rs. 5,00,000 to
XY Ltd.
12 Sold all the investment 250000
13 Expenses Paid during the year
1. Outstanding Salaries 15000
 2. Rent (Including
Outstanding) 45000
3. Tax of last year
250000
14 Outstanding to be maintained
as on last day
1. Total Salaries 35000
2. Total Rent outstanding 10000
3. Total Provison for Tax 100000
15 Charge Depreciation on
Machinery @30% p.a.

You are required to :-

1. Create a Folder on the desktop with your Exam Roll no.
2. Create a company as per details given above
3. Create appropriate groups and Ledger Accounts
4. Enter the transactions as given selecting appropriate voucher type.
5. Export the follwing statements as on 31st March 2023 in PDF format and save it in a folder.
 Day book
 Balance Sheet
 Profit and Loss Account
 GST Report (GST- 3B)