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  • Practice Exercise 5

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    rajeshnev
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    The document provides details of various purchase and sales transactions conducted by a company along with payment details. It lists 14 transactions which include purchases of items and stationary from suppliers on credit, sales of items to customers on credit, payment to suppliers by cash and cheque, advances given and received, and receipts from customers by cash and cheque. The transactions involve recording of VAT where applicable.

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    The document provides details of various purchase and sales transactions conducted by a company along with payment details. It lists 14 transactions which include purchases of items and stationary from suppliers on credit, sales of items to customers on credit, payment to suppliers by cash and cheque, advances given and received, and receipts from customers by cash and cheque. The transactions involve recording of VAT where applicable.

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    Attribution Non-Commercial (BY-NC)
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    15 views1 page

    Practice Exercise 5

    Uploaded by

    rajeshnev
    The document provides details of various purchase and sales transactions conducted by a company along with payment details. It lists 14 transactions which include purchases of items and stationary from suppliers on credit, sales of items to customers on credit, payment to suppliers by cash and cheque, advances given and received, and receipts from customers by cash and cheque. The transactions involve recording of VAT where applicable.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
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    Practice Exercise 5

    Exercise on BILLWISE DETAILS & VAT Opening Balances : Cash :- 1, 00, 000/-(Dr.), Indian Bank A/C :- 50, 000/- (Dr.), Capital : - 1, 50, 000/- (Cr.)

    1) 2) 3) 4) 5) 6)

    Purchased Item-1 from M/s Bhushan on Credit Rs. 10,000/- (Bill No. 25) VAT extra @ 4% Purchased Item-2 from M/s Bhushan on Credit Rs. 15,000/- (Bill No. 31) VAT extra @ Sold Item-1 to M/s Sagar on Credit Rs. 12, 000/- (Bill No. 100) VAT extra @ 4%. Purchased Stationary from Vinayak Stationary on Credit Rs. 750/-. (Bill No. 51) Given advance to M/s Hemant Rs. 10, 000/- for future Purchase. (Ref. No. 10) Sold Item-2 to M/s Sagar on credit Rs. 13, 000/- (Bill No. 105) VAT extra @ 12.5%

    12.5%

    7) Paid Rs. 10, 000/- by cash to M/s Bhushan (Bill No. 31) 8) Received bill Machinary Repair Charges from Global Repairs Rs. 2000/- (Ref. No. 5)

    9) Received Item-1 from M/s Hemant Rs. 8,000/- (Bill No. 100) VAT extra @ 4%. 10) Paid to M/S Bhushan by cheque Rs. 15,000/- (Bill No. 25,31) 11) Paid Rs. 500/- to M/s. Vinayak Stationary by Chq.(Bill No. 51) 12) Purchased Item-2 from Hemant Rs. 8,000/- (Ref. No. 10) VAT extra @ 12.5%
    13) Received cash from M/s Sagar 9000/- (Bill No. 100) 14) Received chq. Rs. 16,000/- by M/s Sagar (Bill No.100, 105) See the Reports Gateway of Tally - Display - Statement of A/cs- Outstanding; Statutory Reports VAT Reports

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