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Record of Tally
24
Question: 1. Mr. Chandra Mohan started National Trading Co with a capital of Rs.1,00,000/- brought in cash. 2. Opened a Bank A/C with SBT by deposit Rs.50,000/-. 3. Purchase goods from Sambath & Co for Rs.12,000/- on credit. 4. Purchase office furniture from Subash Enterprises for Rs.3,500/- on credit. 5. Cash sales Rs.2,750/-. 6. Deposit for telephone connection Rs.1,000/- paid by cheque. 7. Sold goods to RKV Brothers Rs.4,800/- on credit. 8. Purchase goods for cash Rs.3,000/-. 9. Received a bill of exchange ( write bill receivable ) from RKV Brothers Rs.4,500/-. 10. Allowed discount of Rs.300/-. 11. Returned goods wroth Rs.2,500/- to Sambath & Co due to poor quality. 12. Withdraw Rs.2,000/- from cash for office use. 13. Personal drawings from bank Rs.2,000/-. 14. Received commission Rs.750/-. 15. Paid for stationary Rs.350/-. 16. Shivarathry donation Rs.501/-. 17. Sold goods to Umesh & Co Rs.8,500/- for credit. 18. Paid salary to office staff Rs.1500/-. Ans : 1. Trial Balance----Rs.1,32,300/-. 2. Net Profit--------Rs.1,649/-. 3. Balance Sheet—Rs.1,12,649/-.
Transcript of Record of Tally
Question:
1. Mr. Chandra Mohan started National Trading Co with a capital of Rs.1,00,000/- brought in cash. 2. Opened a Bank A/C with SBT by deposit Rs.50,000/-. 3. Purchase goods from Sambath & Co for Rs.12,000/- on credit. 4. Purchase office furniture from Subash Enterprises for Rs.3,500/- on credit. 5. Cash sales Rs.2,750/-. 6. Deposit for telephone connection Rs.1,000/- paid by cheque. 7. Sold goods to RKV Brothers Rs.4,800/- on credit. 8. Purchase goods for cash Rs.3,000/-. 9. Received a bill of exchange ( write bill receivable ) from RKV Brothers Rs.4,500/-. 10. Allowed discount of Rs.300/-. 11. Returned goods wroth Rs.2,500/- to Sambath & Co due to poor quality. 12. Withdraw Rs.2,000/- from cash for office use. 13. Personal drawings from bank Rs.2,000/-. 14. Received commission Rs.750/-. 15. Paid for stationary Rs.350/-. 16. Shivarathry donation Rs.501/-. 17. Sold goods to Umesh & Co Rs.8,500/- for credit. 18. Paid salary to office staff Rs.1500/-.
Ans :
1. Trial Balance----Rs.1,32,300/-. 2. Net Profit--------Rs.1,649/-. 3. Balance Sheet—Rs.1,12,649/-.
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National Trading CoMr.Chadra Mohan
Trivandrum
Day Book1-Apr-2010 to 30-Apr-2010
Page 1Date Particulars Credit AmountDebit AmountVch No.Vch Type
Outwards QtyInwards Qty
1-4-2010 Cash 50,000.001ContraSBT 50,000.00
1-4-2010 SBT 2,000.002ContraCash 2,000.00
1-4-2010 Deposit 1,000.001PaymentSBT 1,000.00
1-4-2010 Discount Allowed 300.002PaymentCash 300.00
1-4-2010 Drawings 2,000.003PaymentSBT 2,000.00
1-4-2010 Stationary 350.004PaymentCash 350.00
1-4-2010 Donation 501.005PaymentCash 501.00
1-4-2010 Salary 1,500.006PaymentCash 1,500.00
1-4-2010 Chandra Mohan 1,00,000.001ReceiptCash 1,00,000.00
1-4-2010 Commission Received 750.002ReceiptCash 750.00
1-4-2010 Furniture 3,500.001JournalSubash Enterprises 3,500.00
1-4-2010 Bills Receivable 4,500.002JournalRKV Brothers 4,500.00
1-4-2010 Sambath & Co 2,500.001Purchase Return 2,500.00
1-4-2010 Cash 2,750.001SalesSales 2,750.00
1-4-2010 RKV Brothers 4,800.002SalesSales 4,800.00
1-4-2010 Umesh & Co 8,500.003SalesSales 8,500.00
1-4-2010 Sambath & Co 12,000.001PurchasePurchase 12,000.00
1-4-2010 Cash 3,000.002PurchasePurchase 3,000.00
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National Trading CoMr.Chadra Mohan
Trivandrum
Bills ReceivableLedger Account
For 1-Apr-2010
Page 1Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To RKV Brothers 4,500.002Journal
4,500.00By Closing Balance 4,500.00
4,500.004,500.00
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National Trading CoMr.Chadra Mohan
Trivandrum
Cash Book
For 1-Apr-2010
Page 2Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To Chandra Mohan 1,00,000.001ReceiptBy SBT 50,000.001ContraTo Sales 2,750.001SalesBy Purchase 3,000.002PurchaseBy Discount Allowed 300.002PaymentTo SBT 2,000.002ContraTo Commission Received 750.002ReceiptBy Stationary 350.004PaymentBy Donation 501.005PaymentBy Salary 1,500.006Payment
55,651.001,05,500.00By Closing Balance 49,849.00
1,05,500.001,05,500.00
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National Trading CoMr.Chadra Mohan
Trivandrum
Chandra MohanLedger Account
For 1-Apr-2010
Page 3Date Particulars CreditDebitVch No.Vch Type
1-4-2010 By Cash 1,00,000.001Receipt
1,00,000.00To Closing Balance 1,00,000.00
1,00,000.001,00,000.00
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National Trading CoMr.Chadra Mohan
Trivandrum
Commission ReceivedLedger Account
For 1-Apr-2010
Page 4Date Particulars CreditDebitVch No.Vch Type
1-4-2010 By Cash 750.002Receipt
750.00To Closing Balance 750.00
750.00750.00
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National Trading CoMr.Chadra Mohan
Trivandrum
DepositLedger Account
For 1-Apr-2010
Page 5Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To SBT 1,000.001Payment
1,000.00By Closing Balance 1,000.00
1,000.001,000.00
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National Trading CoMr.Chadra Mohan
Trivandrum
Discount AllowedLedger Account
For 1-Apr-2010
Page 6Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To Cash 300.002Payment
300.00By Closing Balance 300.00
300.00300.00
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National Trading CoMr.Chadra Mohan
Trivandrum
DonationLedger Account
For 1-Apr-2010
Page 7Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To Cash 501.005Payment
501.00By Closing Balance 501.00
501.00501.00
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National Trading CoMr.Chadra Mohan
Trivandrum
DrawingsLedger Account
For 1-Apr-2010
Page 8Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To SBT 2,000.003Payment
2,000.00By Closing Balance 2,000.00
2,000.002,000.00
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National Trading CoMr.Chadra Mohan
Trivandrum
FurnitureLedger Account
For 1-Apr-2010
Page 9Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To Subash Enterprises 3,500.001Journal
3,500.00By Closing Balance 3,500.00
3,500.003,500.00
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National Trading CoMr.Chadra Mohan
Trivandrum
PurchaseLedger Account
For 1-Apr-2010
Page 10Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To Sambath & Co 12,000.001PurchaseTo Cash 3,000.002Purchase
15,000.00By Closing Balance 15,000.00
15,000.0015,000.00
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National Trading CoMr.Chadra Mohan
Trivandrum
Purchase ReturnLedger Account
For 1-Apr-2010
Page 11Date Particulars CreditDebitVch No.Vch Type
1-4-2010 By Sambath & Co 2,500.001
2,500.00To Closing Balance 2,500.00
2,500.002,500.00
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National Trading CoMr.Chadra Mohan
Trivandrum
RKV BrothersLedger Account
For 1-Apr-2010
Page 12Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To Sales 4,800.002SalesBy Bills Receivable 4,500.002Journal
4,500.004,800.00By Closing Balance 300.00
4,800.004,800.00
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National Trading CoMr.Chadra Mohan
Trivandrum
SalaryLedger Account
For 1-Apr-2010
Page 13Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To Cash 1,500.006Payment
1,500.00By Closing Balance 1,500.00
1,500.001,500.00
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National Trading CoMr.Chadra Mohan
Trivandrum
SalesLedger Account
For 1-Apr-2010
Page 14Date Particulars CreditDebitVch No.Vch Type
1-4-2010 By Cash 2,750.001SalesBy RKV Brothers 4,800.002SalesBy Umesh & Co 8,500.003Sales
16,050.00To Closing Balance 16,050.00
16,050.0016,050.00
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National Trading CoMr.Chadra Mohan
Trivandrum
Sambath & CoLedger Account
For 1-Apr-2010
Page 15Date Particulars CreditDebitVch No.Vch Type
1-4-2010 By Purchase 12,000.001PurchaseTo Purchase Return 2,500.001
12,000.002,500.00To Closing Balance 9,500.00
12,000.0012,000.00
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National Trading CoMr.Chadra Mohan
Trivandrum
SBT Book
For 1-Apr-2010
Page 16Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To Cash 50,000.001ContraBy Deposit 1,000.001PaymentBy Cash 2,000.002ContraBy Drawings 2,000.003Payment
5,000.0050,000.00By Closing Balance 45,000.00
50,000.0050,000.00
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National Trading CoMr.Chadra Mohan
Trivandrum
StationaryLedger Account
For 1-Apr-2010
Page 17Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To Cash 350.004Payment
350.00By Closing Balance 350.00
350.00350.00
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National Trading CoMr.Chadra Mohan
Trivandrum
Subash EnterprisesLedger Account
For 1-Apr-2010
Page 18Date Particulars CreditDebitVch No.Vch Type
1-4-2010 By Furniture 3,500.001Journal
3,500.00To Closing Balance 3,500.00
3,500.003,500.00
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National Trading CoMr.Chadra Mohan
Trivandrum
Umesh & CoLedger Account
For 1-Apr-2010
Page 19Date Particulars CreditDebitVch No.Vch Type
1-4-2010 To Sales 8,500.003Sales
8,500.00By Closing Balance 8,500.00
8,500.008,500.00
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National Trading CoMr.Chadra Mohan
Trivandrum
Trial BalanceFor 1-Apr-2010
Page 1Closing Balance
CreditDebit
Bills Receivable 4,500.00Cash 49,849.00Chandra Mohan 1,00,000.00Commission Received 750.00Deposit 1,000.00Discount Allowed 300.00Donation 501.00Drawings 2,000.00Furniture 3,500.00Purchase 15,000.00Purchase Return 2,500.00RKV Brothers 300.00Salary 1,500.00Sales 16,050.00Sambath & Co 9,500.00SBT 45,000.00Stationary 350.00Subash Enterprises 3,500.00Umesh & Co 8,500.00
G r a n d T o t a l 1,32,300.001,32,300.00
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National Trading CoMr.Chadra Mohan
Trivandrum
Profit & Loss A/cFor 1-Apr-2010
P a r t i c u l a r s For 1-Apr-2010 P a r t i c u l a r s For 1-Apr-2010
Purchase Accounts 12,500.00Purchase 15,000.00Purchase Return (-)2,500.00
Gross Profit c/o 3,550.00
16,050.00
Indirect Expenses 2,651.00Discount Allowed 300.00Donation 501.00Salary 1,500.00Stationary 350.00
Nett Profit 1,649.00
T o t a l 4,300.00
Sales Accounts 16,050.00Sales 16,050.00
16,050.00
Gross Profit b/f 3,550.00
Indirect Incomes 750.00Commission Received 750.00
T o t a l 4,300.00
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National Trading CoMr.Chadra Mohan
Trivandrum
Balance SheetFor 1-Apr-2010
L i a b i l i t i e s as at 1-Apr-2010
Capital Account 98,000.00Chandra Mohan 1,00,000.00Drawings (-)2,000.00
Loans (Liability)
Current Liabilities 13,000.00Sundry Creditors 13,000.00
Profit & Loss A/c 1,649.00Opening BalanceCurrent Period 1,649.00
T o t a l 1,12,649.00
As s e t s as at 1-Apr-2010
Fixed Assets 3,500.00Furniture 3,500.00
Current Assets 1,09,149.00Closing StockDeposits (Asset) 1,000.00Sundry Debtors 8,800.00Cash-in-hand 49,849.00Bank Accounts 45,000.00Bills Receivable 4,500.00
T o t a l 1,12,649.00
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