Lesson 1

Create the following B/S and Transaction of DGP Co. Ltd.

Balance Sheet as on 31-03-2010
Liabilities
Capital A/C
P/L

Assets
1,85,000.00
55,000.00

S. Creditors
DGP Steel
Gupta & Co.
Bills Payables

Land & Building

45,000.00

Plant & Machinery 60,000.00

S. Debtors

15,000.00
10,000.00
5,000.00

KK Enterprises
MS Co. Ltd.

20,000.00
15,000.00

Bills Receivables
Cash in Hand
ICICI Bank

===========
2,70,000.00
===========

7,000.00
75,000.00

48,000.00
=============
2,70,000.00
=============

Transactions
1.4.2003

Salary paid Rs. 500

6.4.2003

Interest receipts Rs. 1500

10.4.2003

Purchase Goods Rs. 6800 form DGP Steel

15.5.2003

Electricity paid by cheque Rs. 300

25.5.2003

Sold Goods to KK Enterprises Rs. 15000

30.5.2003

Cash paid into ICICI Bank Rs. 4000

5.6.2003

Salary paid Rs. 2000

10.6.2003

Goods Sold by Cash 8000

DURGAPUR YOUTH COMPUTER TRAINING CENTRE

Lesson 2
Create the following B/S and Transaction of DURGAPUR STEEL Co. Ltd.
Balance Sheet as on 31-03-2003
Liabilities
Capital A/C
P/L

Assets
1,75,000.00
40,000.00

S. Creditors

Land

40,000.00

Machinery

70,000.00

S. Debtors

Saha & Co.

Excel Co. Ltd.

5,000.00
8,000.00

India Co. Ltd.

MG & Co.

10,000.00
5,000.00

Outstanding Rent

7,000.00

Cash in hand

65,000.00

HDFC Bank

45,000.00
=============
2,35,000.00
=============

=============
2,35,000.00
=============
Transactions
5.4.2002

Wages paid Rs. 800

10.4.2002
15.5.2002
20.5.2002
25.5.2002
30.5.2002
6.6.2002
8.7.2002
10.7.2002
15.7.2002
5.8.2002
10.8.2002
20.9.2002
30.3.2003

Salary paid Rs. 3500

Purchase Goods from Saha & Co. Rs. 7000
Commission Receipts Rs. 500
Sold goods to India Co. Ltd. Rs. 15000
Cash withdraw form IIDFC Bank 8000
Goods return to Saha & Co. 1500
Salary paid Rs. 1800
Goods return from India Co. Ltd. Rs. 800
Cash Deposited into bank Rs. 4000
Purchase goods from Excel Co. Ltd. Rs. 9000
Goods sold by Cash Rs. 12500
Goods return to Excel Co. Ltd. Rs. 1000
Deprec.
Land
Machinery

Rs. 1500
Rs. 1000

DURGAPUR YOUTH COMPUTER TRAINING CENTRE

Lesson 3
Create the following B/S and Transaction of Chopra International
Balance Sheet as on 31-03-2003
Liabilities

Assets

Capital A/C
Mr. A 65000
Mr. B 50000
Mr. C 55000

Goodwill

65,000.00

Machinery

70,000.00

P/L

1,70,000.00
58,000.00

S. Creditors

S. Debtors

Roy & Co.

Raj & Raj

15,000.00
12,245.00

Outstanding Rent

4,000.00

ABC Co.
MGM & Co.
Cash in hand
SBI Bank
UBI Bank
Closing Stock

===========
2,46,000.00
===========

10,000.00
5,000.00
31,000.00
20,000.00
45,000.00
13,245.00
===========
2,46,000.00
===========

Stock item
Item

Unit

Purchase Rate

Sales Rate

Op. Balance

Shirt
Cloth
Button
Thread

Nos.
Mts.
Doz
Rls.

100/60/3/2.50

120/-------------

100
50
40
50

Transactions
3.4.2003 Purchase Shirt 30 Nos. from Raj & Raj on Credit Rs. 3000
5.4.2003 Commission receipts Rs. 450
10.4.2003 Sold shirt 50 nos. to ABC Co on credit 6000
12.4.2003 Transfer money from UBI to SBI Rs. 4000
15.4.2003 Cash receipts ABC co. Rs. 3000
18.4.2003 Cheque (SBI) paid Raj & Raj Rs. 2000
20.4.2003 Cheque receipts from MGM & Co. 4800
20.4.2003 Discount allowed to MGM & Co. 200
25.4.2003 Purchase cloth 30 Mts. By cheque (UBI)
26.4.2003 Cash with draw from bank (UBI) Rs. 2000
30.4.2003 Sold shirt 60 Nos. by Cash

Lesson No. : 2

Do the following Entries :

For the Month of APRIL :
1.4.98
5.4.98
10.4.98
15.4.98
20.4.98
25.4.98
30.4.98

Wages paid in Cash Rs. 5000

Salary paid in cash Rs. 1000
Manufacturing Expenses Rs. 2000
Purchase in credit from Ram Rs. 7000
Sales on credit to Tom Rs. 3000
Machinery Repairs Rs. 3000
Carriage Inward Rs. 2000

For the Month of MAY :

1.5.98
5.5.98
10.5.98
15.5.98
20.5.98
25.5.98
30-05-98

Carriage Outward Rs. 3000

Salary paid in Cash Rs. 900
Interest paid Rs. 4000 in cheque
Purchase Factory Rs. 10000
Purchase Furniture Rs. 9000
Purchase Machinery in Cash Rs. 8000
Cash paid to Bank Rs. 5000

For the Month of JUNE :

5.6.98
10.6.98
15.6.98
20.6.98
25.6.98
30.6.98
30-06-98

Salary paid in cash Rs. 800

Rent paid in cash Rs. 2600
Electricity paid in Cheque Rs. 700
Loan Received Rs. 20000
Rates paid in Cash Rs. 500
Commission Received Rs. 1000
Purchase Return to Ram 1100

For the Month of JULY :

5.7.98
10.7.98
15.7.98
20.7.98
25.7.98
30.7.98
30-07-98

Salary paid in cash Rs. 700

Cash purchase Rs. 5000
Cash sales Rs. 40000
Wages paid Rs. 4000
Sales Return Rs. 1200
Carriage Inward Rs. 1000
Depreciation on Machinery Rs. 1500

DURGAPUR YOUTH COMPUTER TRAINING CENTRE

Financial Accounting
1. Create a Company by both Partners
Financial Year Starting 01-04-2005 to 31-03-2006
Liabilities

Amount

Assets

Amount

Capital
Profit & Loss A/c
Loan

1,50,000
30,000
70,000

Goodwill
Furniture

30,000
20,000

Creditors

Debtors

Digit Infocom
[TR 1001 15/02/2003]

50,000

Das Bros.
15,000
[TD 1001 17/01/2003]

RK Infocom
[TR 2001 05/02/2003]

30,000

Bose Bros.
30,000
[TD 2001 11/02/2003]
Cash in hand
Cash at SBI
Closing stock

==========
3,30,000
==========

60,000
40,000
1,35,000
============
3,30,000
============

Closing Stock Details Shown Here

TV Set
Radio
VCD

5 Pic
50 Pic
10 Pic

@ Rs. 1,50,000/@ Rs.

700/@ Rs.
2,500/-

ITEM DETAILS

Item

Unit

Purchase Rate

Sales Rate

TV Set
Radio
VCD

Pic
Pic
Pic

15,000/700/2,500/-

18,000/850/3,000/-

DURGAPUR YOUTH COMPUTER TRAINING CENTRE

Financial Accounting
VAT LESSON 2
Do the following :
1.4.2003

Paid the Entertainment Expenses Rs. 230/-

3-4-2003

Credit Sales to the Das Bros, following with Bill No. : TD 1002
4 Pic TV Set (Extra Vat charges 4%)
5 Pic VCD (Extra Vat charges 4%)
5 Pic Radio (Extra Vat charges 4%)

5.4.2003 Interest Received Rs. 5000

7.4.2003 Purchase the following Goods with extra vat charges
8 Pic TV Set
10 Pic VCD
10 Pic Radio
From Digit Infocom with Bill TR 1002
15.4.2003Paid for Office Expenses 500/- & Advertisement 200/28.4.2003Sales to Mrs. Dey in Cash (Extra Vat charges each item)
2 Pic VCD, 2 Pic Radio and 2 Pic TV Set

05-05-2003 Credit Sales to Das Bros and Bose Bros respectively

The following items
10 Pic Radio, 2 Pic Radio and 2 Pic TV Set
With Bill Das Bros, TD 1003 & Bose Bros TD 2002
19-06-2003

Sales 5 Pic TV Set, 12 Pic Radio, 5 Pic VCD in cheque of SBI

With extra Vat charges

28.6.2003Payment made to Digit Infocom against Dues

Bill No. TR 1001 in fullment and ret adjustment in Bill TR 1002
Rs. 1,50,000/17.7.2003Purchase 10 Pic VCD from RK infocom
Bill : TR2002 with Extra Vat charges
25.9.2003Payment made by Das Bros his against dues Rs. 1,00,000/Full Payment of Bill : TD1001 & TD1003
& ret will adjusted TD 1002
17.2.2004Expenses for Travelling Rs. 50/- and Entertainment 20/30-03-2004 Payment made in cheque of SBI Rs. 50,000/- for Loan
LESSON FOR TALLY
LESSON - 1
Create a new company IN YOUR NAME with the financial period ranging from
1-4-97 to 31-3-98 and create the budget heads along with their opening balances
Balance sheet as on 01.04.97
LIABILITY
Capital
P/l a/c
Loan

ASSETS
2,00,000
53,000
40,000

Goodwill
Factory
Plant
Furniture

50,000
20,000
20,000
20,000

S/Creditors :

S/Debtors :

Ram (Sc 1) 5.3.97 10,000

Sham (Sc 2) 10.3.97 9,000
Jadu (Sc 3) 15.3.97 8,000

Tom (Sd 1) 5.3.97 10,000

Dick (Sd 2) 10.3.97 9,000
Harry (Sd 3) 15.3.97 8,000

Outstanding Rent

Bank
Cash

5,000
========
3,25000
========

Workings :
Cost Centre : Company Have 2 Cost Center

50,000
1,38,000
============
3,25000
============

a) Name : Factory Type : Primary

b) Name : Office Type : Primary
Group Creation : Company have one Branch in Delhi and another at Calcutta.
Company have four Staff viz. A,B,C & D. In these Branches
and payment made in this way.
I) Total Salary a/c
Under : Expenses Indirect

II) Calcutta Branch

Under : Total Salary

III) Delhi Branch

Under : Total Salary
Ledger Should be Created in this way
1. Mr. A a/c
Group : Calcutta Branch
3. Mr. C a/c
Group : Delhi Branch

2. Mr. B a/c
Group : Calcutta Branch
4. Mr. D a/c
Group : Delhi Branch

Do the following Entries : 1.4.97

5.4.97
10.4.97
15.4.97
20.4.97
25.4.97
30.4.97
1.5.97
10.5.97
15.5.97
20.5.97
30.5.97
1.6.97
10.7.97

Wages paid 2000 [Factory Staff 1000 & Office 1000]

Salary paid to Mr. A 1000
Manufacturing Expenses 2000 [Factory]
Purchase in Credit from Ram 7000 [Factory Bill No. : SC4]
Sales in credit to Tom 11000 [Factory Bill No. : SD4]
Machinery Repairs 3000 [Factory]
Carriage Inward 2000 [Factory 1000 & Office 1000]
Carriage Outward 3000 [Factory 2000 & Office 1000]
Purchase a New Factory Rs. 10000
Purchase a New Furniture in Cheque 9000
Purchase a New Machinery 8000
Salary paid to Mr. A Rs. 800
Purchase in credit from Shyam 6000 [Factory 5000, Office 1000
Bill No. SC5]
Salary paid to Mr. D Rs. 1000

Lesson No. : 3 (Bill by Bill)

Do the following Entries : 3.8.97

6.8.97
25.8.97
27.8.97
30.8.97
5.9.97
8.9.97
10.9.97
15.9.97
18.9.97
20.9.97
25-09-97

Electricity paid in Cheque [Factory 500, Office 200] Rs. 700

Sales in Credit to Dick 7000 [Factory 6000, Office 1000]
Bill No. SD5
Credit Purchase from Jadu 6000 [Factory] Bill No. SC6
Salary Paid to Mr. C Rs. 3000
Tom paid to Ram Rs. 2000 Bill will be adjusted against the [SC1
Rs. 1000, SC4 Rs. 1000] and [SD1 Rs. 1000, SD4 Rs. 1000]
Credit sale to Harry Rs. 6000 Bill No. SD6
Dick paid to Shyam Rs. 4000 [SD2 Rs. 2000, SD5 Rs. 2000]
and [SC2 Rs. 2000, SC5 Rs. 2000]
Harry paid to Jadu Rs. 3000 [SD3 Rs.1500, SD6 Rs. 1500] and
[SC3 Rs. 1500, SC6 Rs. 1500]
Purchase Return to Mr. Ram Rs. 1500 [SC1 Rs. 500, SC4
Rs. 1000]
Salary paid toMr. D Rs. 900
Sales Return from Tom Rs. 1500 [SD1 Rs. 800, SD4 Rs. 700]
Depreciation : --

i) Furniture Rs. 2000

ii) Factory Rs. 3000
iii) Plant
Rs. 4000

26.9.97
28.9.97
1.10.97
2.10.97
10.10.97
12-10-97
14-10-97
20.10.97
1.11.97

Paid to Mr. Ram Rs. 1000(against Bill No. SC1 Rs. 500 and SC4
Rs. 500)
Cheque received from Mr. Dick Rs. 1000 on account
Paid to Mr. Shyam Rs. 1000 (against Bill No. SC2 Rs. 500 and SC5
Rs. 500)
Cheque dishonored by Bank Rs. 1000 (Which was received from
Mr. Dick on 28-09-97 on account)
Paid to Mr. Jadu on his account Rs. 1000
Cheque received from Mr. Dick Rs. 1500 (against Bill no. SD2)
Paid to Mr. Shyam Rs. 1000 (against Bill No. SC2 Rs. 500 and
SC5 Rs. 500)
Rent paid Rs. 2000 [Factory 1500 & Office 500]
Paid outstanding Rent Rs. 3000 (Previous year)

See the following Reports

Trial Balance
Bill Wise Reports
Working Report