Accounting Question (Tally)

1.4.08 Started business to cash - 1,00000=00.

2.4.08 Purchase furniture Rs- 3300 to cash .
3. 4. 08 Purchase Electric equipment Rs -2350 to cash.
4. 4.08 Purchase good sold to cash Rs- 50,500=00 .
5. 4. 08 Open Bank Account in SBI Hanuman Nagar and deposit cash Rs-
5,000=00.
6. 4. 08 Goods sold to cash Rs- 3300=00.
7. 4. 08 Purchase good from Raman Rs- 12500=00.
8. 4. 08 Good sold to shyam to cash Rs - 15,500 =00 .
9. 4. 08 Paid freight Rs-120=00 to cash.
10. 4. 08 Paid Rent to cash Rs- 100=00.
11.4. 08 Paid Electric charge Rs-250=00.
12.4.08 Paid Other Expenses 500= 00.
13.4.08 Paid Mobile Recharge 150=00.

2nd Step
Give a Journal Entry in the Book of Raman & Company and classify all
Ledger Account(Journal Ledger)
2.5.8 Bank Account in central Bank and deposited cash Rs-5,000=00.
3.5.8 Cheque deposited in to Bank Rs-25,000=00.
4.5.8 Purchase Furniture to cash Rs-2,550=00.
5.5.08 Purchase goods tocash Rs- 25,500=00.
6.5.08 Goods sold to cash Rs-20,300=00.
7.5.8 Paid Freight to cash Rs-150=00.
7.5.9 Paid Raman Started Business to cash Rs-75,000 and cheque
Rs25,000=00 .
8.5.8 Rent to cash Rs-1,000=00.
9.5.8 Paid mobile recharge cash Rs -150=00.
10.5.08 Paid Other Expenses Rs -210=00.
11.5.08 Purchase Electric Equipment to cash Rs- 3,100 .
12.5.08 Purchase goods From Rohan Rs- 25,300=00.
13.5.08 Goods Sold to dinesh Rs-20,100=00 .
14.5.08 Cash Received From dinesh Rs-20,000=00.
15.5.08 Cash Paid to Rohan Rs- 20,000=00.
In the Books of x & company for the month of June.
(Period -2007-2008)
1.6.8 X Started Business to cash Rs-1,00000=00.
2.6.8 Purchase Furniture/ Fixture Rs- 5,325=00 .
3.6.8 Purchase Electric Equipment Rs-2,525=00.
4.6.8 Purchase goods to cash Rs-3,500=00.
5.6.8 Purchase goods from Raman Rs-20,000=00 Weekly.
6.6.8 Good sold to cash 10,300=00.
7.6.8 Goods sold to Gagan Rs - 6,000=00(Approx) daily .
8.6.8 Cash paid to Raman weekly Bank dues.
9.6.8 Cash Received From Gagan daily Back dues.
10.6.08 Open a Bank Account in central Bank Hanuman Nagar and deposit cash Rs-
5,000=00.
11.6.08 Paid Rent to cash Rs-1,000=00.
12.6.08 Paid Electricity charge to cash Rs-250=00.
13.6.08 Paid Othre Expenses to cash Rs-200=00.
14.6.08 Paid Salary to cash Rs-1,200=00.
15.6.08 Paid General Expenses to cash Rs- 150=00.
 Fundamental of Accounts
Accounting is created by double Entry System .
Created by LUCAS PACIOLI in year 1494.
Advantage:- All Transaction two Aspect.
Debit ___________________________ Cradit

Debitom Craditom

France Language France Language

Debitor’s Creditor’s

 What is Debit?
Ans:- Increase in all Assets ,Expenses and Losses and Decrease in all capital Liability & gain
is called debit .
*What is Credit?
Ans:- Increase in all capital liability & gain and decrease in all Assets Expenses and Losses is
called credit.
Assets.
Long time Returning value goods is called Assets.
There are three types of Assets.
(i) Fixed Assets:- Depreciable Assets is called Fixed Assets.
Ex:- Furniture & Fixture , Losse & Tools, Electronic & Electric, Goods, Any types of
vehicles , etc.
(ii) Current Assets:- Flaxuting Assets is called current Assets.
Ex:- Sundry debitor’s , stock in hand, Loan & Liability, deposit(Fixed deposite), cash-at
bank, cash-in hand .
(iii) Fictitious Assets:- Fixed value Assets/ not depreciable Assets is called Fictitious
Assets .
Ex:- Gold ,Silver, Stone, and Land etc.
*Expences:- Any Types of Expences,
There are three types of expenses:-
(i) Direct Expenses:-
After purchase Related Expenses before godown is called direct
expenses.
Ex:- Freight, wages, labour charge,carriage in ward, trasporation, etc.
(i) Indirect Expenses:-
Any types of office management releted expenses is called indirect
expences.
Ex:- Rent, salary, telephone & mobile expenses, electricity charge, other expenses, general
expenses, news paper, and periodicals, travalling & etc.

Income:-
(i) Direct income:-
Purchase related income is called direct income.
= Cash discount, Trade discount.
(ii) Indirect income:-
Managements, bank gift job work,etc. releted income is called indirect
income.
Ex:- Commission, Gift, Bank Intrest etc.
 Losss
Loss of fire, loss of gift, loss by brakage, loss by likage, loss by dimage, loss by expiry, loss
by train ,loss by transport etc.
Capital

First time money invested by owner against started new business is called capital.
Liability
Payment dues business is called liability.
(i) Current liability:-
Sundry craditor’s, provision, duties and taxes,
(ii) Loan liability :-
Bank overdraft, secured loan, unsecured loan,
Gain:-
Income of source.
What is Account?
Accont is an art of recording, classifying and summarising of all transaction in the
terms of money in specific period.
There are three types of account
(1) Personal Account (2) Impersonal Account
(i) Personal Account:-
Persons releted account is called personal account.
There are three types of personal account.
(i) Natural person:-
General person, owner,proprietor partner, director,managing director etc.
(ii) Artificial person:-
Bank ,company, industries, firm, trust, school, college, Ngo , hospital.
(ii) Reprasantative person:-
Drawings, prepaid, dustanding, received in advance,& advance.
(2) Impersonal Account:-
Other than person,
There are two types of impersonal account
(1)Real Account:-
# Trangible # Intrangible
All Assets Good will

(2) Nominal Account:-

All expenses, losses , income and gain ,
GOLDEN RULE:-
(i)Personal Account:- “Debit the receiver and credit the giver”.
(ii) Real Account:- “Debit what comes in and credit what goes .
Nominal Account:- “ debit all expenses & losses and credit all incomes & gain”
Ledger:-
Ledger is two classification of all account head.
Ledger is monthly creation ,one time one ledger creation.
Ledger Format
Date Particular L.F Amount Date Particular L.F Amount
st st
1 To 1 By

30th To Balance c/d xxx 30th By Balance c/d xxx

(- ) (- )
=
=
C/d = Carried Down , B/d = Brought Down

Cash, Capital, Freight, Electric Equipment,Bank, Sales, Raman, Shyam, Furniture, Rent,
Electric Charge, Other Expenses, Mobile Recharge etc.
Group of Account
Total Name of group 28 type , primary group- 15th, secondary group- 13th, secondary group is
merge in primary group.
Use of first nine primary group- only for balance sheet.
Use of Last six primary group only for profit & loss Account.
Name of group& balances:
(use in balance sheet)

(1.) Capital Account________________ Cr

(i) Reserve & surplus
(2.) Current Liability _________________ Cr
Duties & Taxes, provisions, sundry creditor’s ,
(3.) Loan Liability ___________________Cr
Secured Loan, Bank overdraft/ Bank occ A/c
Unsecured Loan,
(4.) Current Assets __________________ Dr
Sundry Debitor’s ,stock in hand, Loan & Advances, Deposits, Bank Account/ cash at Bank) ,
Cash A/c / cash in hand,) ,
(5.) Fixed Assets ____________________ Dr
(6.) Investment ______________________ Dr
(7.) Miscellaneous Expenses ___________ Dr
(Company act 1956)
(8.) Branch & Divisions ________________ Cr
(9.) Suspence Account _________________ Cr
#Use in profit & Loss Account
(10.) Purchase Account,(11.) Sales Account, (12.) Direct Expenses,
(13.) Direct Income, (14.) Indirect Expences, (15.) Indirect Income.

Final Account
What types of Account?
(i) Trading Account (ii) Non Trading Account.
Final Account Trading
Business= Sale & Purchase
Profit & Loss A/c = Balance sheet
Profit & Loss A/c
 Manufacturing A/c
 Trading A/c
 Profit & Loss Account
 Format:-
In the books of (company Name)
Profit & Loss Account for the Year Enting -------------------
Dr Cr
particular Amount Particular Amount
To opening stock Xxx By Sales xxx
To purchase xxx Return in ward ----------
Return det ward --------- Xxx (Loss sales return)------ Xxx
Loss purchase return Xxx By direct income Xxx
Direct Expenses xxx By dirrag goods Xxx
Gross profit (-) By closing stock xxx
(Balance c/d ) By gross loss (-)
Xxx
Xxx
Xxx By gross profit xxx
Gross loss xxx (Balance b/d ) xxx
(Balance b/d ) By indirect income
To indirect expenses By Net loss
To Net profi
Balance sheet
In the books of ( -company name--- )
As on (--date-----------)

Capital & Liability Amount Rs Assets& properties Rs Amount

Capital xxx Fixed Assets
Net loss --------------------- Loss deprecitation xxx
Less Investment xxx
Add Net profit xxx Miscellancous
Loss drawing ---------- xxx Expenses ---------- xxx
Current Liability xxx
Loan Liability xxx Current Assets xxx
Branch & division xxx
Suspense Account xxx

Tally
Tally is a computerised Accounting System. It is based on double entry system.
Advantage
Starting from Tally version .
Tally 4.0 Dos mode
,, 4.5 ,, Account only
,, 5.0 Windows Based
,, 5.4 ,, Account only:-Account with in
Inventory/ Inventory only
,, 6.0 ,, Multiuser(Internet Facility)
,, 6.3 ,, Internet+Tax Facility
,, 6.8 ,, Gold/ Silver
,, 7.2 ,, VAT/ TDS
,, 8.1 ,, VAT/ TDS/ Servics Tax
,, 9.0 ,, VAT/ TDS/ Servics Tax /,Easy
To use option display.
Shortcut key
Esc:- To back one step option screen.
Enter:- Finished all option.
Back space:- Back one step option.
Up/down(Arrow Key) :- Select any option.
Page up :- Back one step voucher screen.
Page down:- After one step voucher screen.
F1:- Select company .
Alt+ F1:- Shut company/ Detail display .
F2:- Change date .
Alt+ F2:- Change period .
Alt+F3:- Company information screen/Create.
Ctrl+M :- Activate gateway of tally
Ctrl+N :- Activate calculator
Ctrl+R :- Repeat last ledger name
Alt+P :- Print any screen
ALT+C:- Direct create any voucher mode
Ctrl+A :- Save any data
Alt+D:- Delete any selected ledger / voucher Entry .

Voucher key
F4 :- Contra voucher_ use only bank deposit related entry.
F5 :- Payment vouche____ use only cash/bank payment related entry.
F6 :- Receipt voucher ____ use only cash / cheque received related entry .
F7 :- Journal voucher _____ use only adjustment related entry .
F8 :- Sales voucher ______ use only cash / credit sales related entry .
F9 :- Purchase voucher _____ use only cash / credit purchase related entry

Work on Tally
Account only
(i) Company creation
(ii) View group detail
(iii) Group creation
(iv) Ledger creation
(v) Satting (F1 & F12)
(vi) Voucher key
(vii) Display = Trail Balance
(viii) Profit & Loss Account
(ix) Balance Sheet etc.
Open Tally
Double click left mouse button on the desktop Tally 7.2
0r, Right click = open on the Tally 7.2 Icon
0r, Select Tally Icon on the desktop screen and press enter key.
0r, To open Tally screen.
Closing Tally
Quit ?
Press “Q” and again press enter key, 0r “y” key.
Yes/ No
Or, Select Quit and press “y”, or Enter key.
Or, Press ESC key and again press “y”, or Enter key .

Tally Screen

Tally solution screen Multiuser Help/web

uvy
12-April- 2007 10:45:37
sunday
Gateway of Tally Ctrl+ M F1
Current period Current date Gate way of Tally F2
1.4.08 to31.3.08 Master, F3
1.4.08 Account Info. F4
List of select company Inventory Info. F5
Name of company Last voucher name Import of data. F6
Accounting
F7
Accounting voucher
F8
Inventory voucher
F9
Report
F10Button bar
Profit & Loss Account
Balance Sheet F11
Stock Summary F12
Ration Analysis
Display
Multi Account Printing
ODBC Ctrl+ N
Calculator bar

Create Company
Press Alt+F3 = To open company Info. Company Info.
Select create company (press enter key) Select company
Input company detail and accept”y” ,or (press enter key) Shut Company
Use enter key to next potion. Create Company
Alter
Back Ground
Restore
Create Company Ctrl+m X
Location c:/ Tally / Data
Name:- ABC & Company (press enter key)
Alias:- -------------------------------------------------
Mailing Name:- ABC & Company (press enter key)
Address:- --------------------------------------------
State:- ------B--------------------------
Pin Code:- ----------------------------------
E. Mail:- ---------------------------------------
Use VAT TIN:- -------------------------------------------------
VAT TIN:- --------------------------------------------------------
Income Tax Number:- ---------------------------------------
Use of currency:- Rs
Main tain :- Account only
Accout only Inventory
Financial years from:- 1.4.2008
Book bigning form:- 1.4.2008
Use of Tally vault password (press enter key)
Use of security ? No
Base currency detail
Use of currency: Rs
Format name:- Rupees
Use Number of decimal places ? 2
Use symbol in Amount ? No
Amount saffixed in symbol; yes
Use Amount in million ? No
Space between Amount & symbol ? yes Accept ?
Yes / No

View group detail

 Gateway of tally = select Account Info.(press enter key)
 Select =group detail (press enter key) Gateway of Tally
 Select “ single group display” (press ente key) Company Info.
 Open list of group subgroup name (press enter key) Group
 To open selected group detail . Ledger
 View details of group = press ESC Key. Voucher Type
 Quit
Group
Single group Group Creation
Create Gateway of Tally = select Account
Display Info.(press enter key)
Alter Select group (press enter key )
Multiple group Select single group “create” (press
Create Display enter key)
Alter
Quit
 Open group creation screen = Input group detail and accept “y” or, enter key.

Group creation x
Name:- Purchase (presenter key)
(Alias) :-
Under :- Purchase Account
Use group behave, like subgroup ? No
Accept
Yes / No

Group Altering
Gateway of tally =select account info. (press enter key)
Select group (press enter key )
Select single group alter (press enter key )
Open list of group = select group name (press enter key)
Open group altering screen = modify any detail and accept “y” or, enter key
Group Altering x
Name:- Purchase (press enter key)
(Alias) :-
Under:-Purchase Account Accept ?
Use group behave like subgroup? No Yes / No