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 Rs5,000=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.

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.

4.5.8

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 Rs5,000=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
France Language
Debitors

Craditom
France
Creditors

Language

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 debitors , 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.
(i)
(ii)

Income:Direct income:Purchase related income is called direct income.

= Cash discount, Trade discount.
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 craditors, 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
st

30th

L.F

Amount

To

Date
1

To Balance c/d
(- )

xxx

st

30th

Particular
By

By Balance c/d

L.F

Amount

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 creditors ,
(3.) Loan Liability ___________________Cr
Secured Loan, Bank overdraft/ Bank occ A/c
Unsecured Loan,
(4.) Current Assets __________________ Dr
Sundry Debitors ,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
To opening stock
Xxx
By Sales xxx
To purchase xxx
Return in ward ---------Return det ward --------Xxx
(Loss sales return)-----Loss purchase return
Xxx
By direct income
Direct Expenses
xxx
By dirrag goods
Gross profit (-)
By closing stock
(Balance c/d )
By gross loss (-)

Amount
Xxx
Xxx
Xxx
xxx
Xxx

Gross loss
(Balance b/d )
To indirect expenses
To Net profi

Xxx
Xxx
xxx

By gross profit
(Balance b/d )
By indirect income
By Net loss

xxx
xxx

Balance sheet
In the books of ( -company name--- )
As on (--date-----------)
Capital & Liability
Capital xxx
Net loss --------------------Less
Add Net profit xxx
Loss drawing ---------Current Liability
Loan Liability
Branch & division
Suspense Account

Amount Rs

xxx
xxx
xxx
xxx
xxx

Assets& properties Rs
Fixed Assets
Loss deprecitation
Investment
Miscellancous
Expenses ---------Current Assets

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.

Amount
xxx
xxx
xxx
xxx

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
Press Q and again press enter key, 0r y key.
Or, Select Quit and press y, or Enter key.
Or, Press ESC key and again press y, or Enter key .

Quit ?
Yes/ No

Tally Screen
Tally solution screen
12-April- 2007
Gateway of Tally

Multiuser
uvy
10:45:37
sunday
Ctrl+ M

Help/web

F1

Current period
Current date
1.4.08 to31.3.08
1.4.08
List of select company
Name of company
Last voucher name

ODBC

Gate way of Tally

Master,
Account Info.
Inventory Info.
Import of data.
Accounting
Accounting voucher
Inventory voucher
Report
Profit & Loss Account
Balance Sheet
Stock Summary
Ration Analysis
Display
Multi Account Printing
Ctrl+ N

F2
F3
F4
F5
F6
F7
F8
F9
F10Button bar
F11
F12

Calculator bar

Create Company
Press Alt+F3 = To open company Info.
Select create company (press enter key)
Input company detail and accepty ,or (press enter key)
Use enter key to next potion.

Company Info.
Select company
Shut Company
Create Company
Alter
Back Ground
Restore

Create Company
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

Ctrl+m

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
Ledger
To open selected group detail .
Voucher
Type
View details of group = press ESC Key.
Quit

Group
Group Creation
Single group
Gateway
of
Tally
=
select
Account
Create
Info.(press
enter
key)
Display
Select group (press enter key )
Alter
Select single group create (press
Multiple group
enter key)
Create Display
Alter
Quit

Open group creation screen = Input group detail and accept y or, enter key.
Group creation
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
Name:- Purchase (press enter key)
(Alias) :Accept ?
Under:-Purchase Account
Use group behave like subgroup? No
Yes / No