Tall 9.0 Practical Questions

NAME capital cash in hand building stock sundry debtors commission paid rent & taxes purchases purchase return furniture loan to suba discount allowed drawings bills receivable cash at bank sales sales return salaries discount earned bank overdraft bills payable sundrry creditors travelling expness

UNDER NAME capital cash in hand fixed asset stock in hand sundry debtors indirect expenses indirect expenses purchases purcahase fixed asset loans liability indirect expenses capital current assets bank sales sales indirect expenses indirect income bank o/d current liability sundry creditors indirect expenses TOTAL

NAME land and building machinery purchase 1.4.2009 stock sundry debtors patents cash in hand cash at bank return inwards

UNDER NAME fixed assets fixed assets purchase stock in hand sundry debtors current assets cash in hand bank sales

DR

CR 24000

900 2500 47000 50000 100 3500 70800 1100 4500 10000 4600 6000 5200 12500 128000 1000 9500 4000 6000 4000 43000 2000 220100 220100

DR 42000 20000 7500 5760 14500 40675 540 2630 680

CR

wages direct expenses fuel & power direct expenses carriage on sales indirect expenses carrage on purchase direct expenses salaries indirect expenses general expenses indirect expenses insurance indirect expenses drawings capital capital capital sales sales return outwards purchase sundry creditors sundry creditors bills payable current liability TOTAL

8480 4730 3200 2040 15000 3000 600 5245 62000 98780 500 6300 9000 176580 176580

NAME drawings goodwill building machinery bills receivable opening stock purchases wages carriage outward carriage inward salaries rent discount repairs bank cash debtors bad debtors sales return furniture advertising gneral expenses capital bills payable creditors purchase return sales

UNDER NAME capital current assets fixed assets fixed assets current assets stock in hand purchase direct expenses indirect expenses direct expenses indirect expenses indirect expenses indirect expenses direct expenses bank cash in hand sundry debtors indirect expenses sales fixed assets indirect expenses indirect expenses capital current liablility sundry creditors purchase sales TOTAL

DR 45000 90000 60000 40000 6000 40000 51000 26000 500 1000 35000 3000 1100 2300 25000 1600 45000 1200 2000 6000 3500 450

CR

160000 35000 70000 2650 218000 485650 485650

NAME UNDER NAME capital capital sales sales sundry creditorssundry creditors furniture fixed assets gneral expensesindirect expenses commission indirect expenses rent indirect expenses bills receivable curretn assets sundry debtors sundry debtors buildings fixed assets stock 1.4.2009 stock in hand purchase purchase wages direct expenses cash in hand cash in hand cash at bank bank drawings capital TOTAL * closing stock 4000 result: A/C INFORMATION - PROFIT& GROSS PROFIT NET PROFIT BALANCE SHEET

NAME UNDER NAME capital loan at 6% p.a sales interest sundry creditors commission recei return outward investment furniture commission reparis bank balance

DR

500 800 250 450 2900 4400 10000 6000 2000 1000 6500 1700 4000 40500

CR 20000 16000 4500

40500

LOSS A/C / BALANCE SHEET RS. RS. RS.

DR

19000 500 470 3620 8800

CR 108850 20000 350000 5640 59000 630 6430

petty cash interest on loan travelling expnes printing stock on 1.1.2009 postage pruchase return inwards wages and salary sundry debtors land & building bills receivable drawings TOTAL * closing stock128960 result: A/C INFORMATION - PROFIT& GROSS PROFIT NET PROFIT BALANCE SHEET

70 300 12000 880 89680 5620 256590 2780 40970 62000 37770 4500 5000 550550 550550 LOSS A/C / BALANCE SHEET RS. RS. RS.

NAME UNDER NAME DR CR opening stock stock in hand 3100 buildings fixed assets 17000 furniture fixed assets 1000 purchase purchase 21200 salaries indirect expenses 2200 bad debts indirect expenses 120 cash in hand cash in hand 1300 return inwards sales 1020 rent indirect expenses 600 miscellaneous exp indirect expenses 500 capital capital 12000 bank loan loan liability 3000 sundry creditors sundry creditors 4920 return outwards purchase 420 interest indirect incomes 130 dividends indirect incomes 110 sales sales 41460 postage indirect expenses 280 printing indirect expenses 260 wages direct expenses 5200 freight direct expenses 560 carriage on sales indirect expenses 800 repairs direct expenses 900 sundry debtors sundry debtors 6000 TOTAL 62040 62040 * closing stock 2980 result: A/C INFORMATION - PROFIT& LOSS A/C / BALANCE SHEET GROSS PROFIT RS. NET PROFIT RS. BALANCE SHEET RS.

NAME capital sales purchase salaries rent insurance drawings machinery bank balance cash stock 1.1.2009 debtors creditors

UNDER NAME DR CR capital 40000 sales 25000 purchase 15000 indirect expenses 2000 indirect expenses 1500 indirect expenses 300 capital 5000 fixed assets 28000 bank 4500 cash 2000 stock in hand 5200 sundry debtors 2500 sundry creditors 100 66000 66000 adjustments: F7 ONLY 1.stock 31.12.2009 rs,4900 A/C INFORMATION - LEDGER - CREATE - PAGEUP - SELECT STOCK SELECT OPENING STOCK -TYPE CLSOING STOCKSTOCK - OPEN/CLOS STOCK DEBIT BALANCE ONLY 2.salaries unpaid rs.300 SALARY A/C DR (IND.EXP) 300 TO OUTSATNDING SALARY(CURRENTLIABILITIES) 300 300 3.rent paid in advance rs.200 PREPAID RENT A/C DR(CURRENT DR ASSETS) ) 200 200 TO RENT A/C indirect expenses 200 200 4.insruance prepaid rs.90 PREPAID INSURANCE DR(CURRENT A/C DR ASSETS) )90 90 TO INSURANCE A/C indirect expenses) 90 200 result: A/C INFORMATION - PROFIT& LOSS A/C / BALANCE SHEET GROSS PROFIT RS.9700 NET PROFIT RS.5890 BALANCE SHEET RS.42190 NEXT GO TO GATEWAY OF TALLY -DISPLAY - DAYBOOK -ALT+FI DETAIL

NAME UNDER NAME DR CR land and buildingfixed assets 42000 machinery fixed assets 20000 purchase purchase 7500 1.4.2009 stock stock in hand 5760 sundry debtors sundry debtors 14500 patents current assets 40675 cash in hand cash in hand 540 cash at bank bank 2630 return inwards sales 680 wages direct expenses 8480 fuel & power direct expenses 4730 carriage on salesindirect expenses 3200 carrage on purchase direct expenses 2040 salaries indirect expenses 15000 general expensesindirect expenses 3000 insurance indirect expenses 600 drawings capital 5245 capital capital 62000 sales sales 98780 return outwards purchase 500 sundry creditors sundry creditors 6300 bills payable current liability 9000 176580 176580 adjustments: F7 ONLY 1.stock on 31.3.2009 was rs.6800 A/C INFORMATION - LEDGER - CREATE - PAGEUP - SELECT STOCK SELECT OPENING STOCK -TYPE CLSOING STOCKSTOCK - OPEN/CLOS STOCK DEBIT BALANCE ONLY 2.salary outstanding rs.1500 SALARY A/C DR (IND.EXP) 1500 300 TO OUTSATNDING SALARY(CURRENTLIABILITIES) 1500 300 3.insurance parepaid rs.150 PREPAID INSURANCE DR(CURRENT A/C DR ASSETS) )150 90 TO INSURANCE A/C indirect expenses) 150 200 4.depreciate machinery @ 10% and patents @ 20% DEPRECIATION A/C DR(INDIRECT EXPENSES) SES)3500 4600 TO MACHINERY A/C (FIXED ASSETS) 2000 TO PATENTS A/C (CURRENT ASSETS) 1500 5.create a provision of 2% on debtors for bad debts BAD DEBTS A/C DR (INDIRECT EXPENSES) )290 2250 TOSUNDRY DEBOTS A/C(SUNDRY DEBOTS) 290 result: A/C INFORMATION - PROFIT& LOSS A/C / BALANCE SHEET GROSS PROFIT RS.43715 NET PROFIT RS.16775 BALANCE SHEET RS.90330 NEXT GO TO GATEWAY OF TALLY -DISPLAY - DAYBOOK -ALT+FI DETAIL

NAME drawings goodwill building machinery bills receivable opening stock purchases wages carriage outward carriage inward salaries rent discount repairs bank cash debtors bad debtors sales return furniture advertising gneral expenses capital bills payable creditors purchase return sales

UNDER NAME DR CR capital 45000 current assets 90000 fixed assets 60000 fixed assets 40000 current assets 6000 stock in hand 40000 purchase 51000 direct expenses 26000 indirect expenses 500 direct expenses 1000 indirect expenses 35000 indirect expenses 3000 indirect expenses 1100 direct expenses 2300 bank 25000 cash in hand 1600 sundry debtors 45000 indirect expenses 1200 sales 2000 fixed assets 6000 indirect expenses 3500 indirect expenses 450 capital 160000 current liablility 35000 sundry creditors 70000 purchase 2650 sales 218000 485650 485650 adjustments: F7 ONLY 1.closing stock was rs.35000 A/C INFORMATION - LEDGER - CREATE - PAGEUP - SELECT STOCK SELECT OPENING STOCK -TYPE CLSOING STOCK STOCK - OPEN/CLOS STOCK DEBIT BALANCE ONLY 2.depreciate machinery and furniture by 10% DEPRECIATION A/C DR(INDIRECT EXPENSES) 4600 TO MACHINERY A/C (FIXED ASSETS) 4000 TO FURNITURE A/C (FIXED ASSETS) 600 3.outstanding wages rs.1500 WAGES A/C DR (DIRECT EXPENSES0 1500 TOOUTSTANDING WAGES A/C (CURRENT LIABILITY) 1500 4.prepaid advertisement rs.500 PREPAID ADVERTISEMENT A/C DR (CURRENT ASSETS) 500 TO ADVERTISEMENT AIC (INDIRECT EXPENSES) 500 5.create 5% on debtors for bad debts as provision BAD DEBTS A/C DR (INDIRECT EXPENSES) 2250

TOSUNDRY DEBOTS A/C(SUNDRY DEBOTS) 2250 result: A/C INFORMATION - PROFIT& LOSS A/C / BALANCE SHEET GROSS PROFIT RS.134150 NET PROFIT RS.80750 BALANCE SHEET RS.302250 NEXT GO TO GATEWAY OF TALLY -DISPLAY - DAYBOOK -ALT+FI DETAIL

CT STOCK

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Enter the following transactions in the Voucher entry of Idhayam of kumbakonam 1.1.2010 commenced business with cash rs. 180000 cash a/c Dr 180000 F4 To capital a/c 180000

mbakonam