Tally - CCE for B.

Com - 1st Year, 2nd Year and Final Year

All Questions is Mandatory

Question 01:
Arun is a trader dealing in automobiles. For the following transactions, pass journal entries for the
month of January, 2018
1 Commenced business with cash 90,000
2 Purchased goods from X and Co. on credit 40,000
3 Accepted bill drawn by X and Co. 20,000
4 Sold goods to D and Co. on credit 10,000
5 Paid by cash the bill drawn by X and Co.
6 Received cheque from D and Co. in full settlement and deposited the same in bank 9,000
7 Commission received in cash 5,000
8 Goods costing Rs. 40,000 was sold and cash received 50,000
9 Salaries paid in cash 4,000
10 Building purchased from Kumar and Co. for Rs. 1,00,000 and an advance of Rs. 20,000 is
given in cash. 10 Marks

Question 02: On 1st April 2017, Tulsian Ltd. purchased a second-hand machine for Rs. 80,000
and spent Rs. 20,000 on its cartage, repairs and installation. The residual value at the end of its
expected useful life of 4 years is estimated at Rs. 40,000. On 30th Sept. 2018, repairs & renewals
amounted to © 2,000. On 30th Sept. 2019, this machine is sold for 7 50,000. Depreciation is to be
provided according to Straight Line Method.
Required: Prepare Journal, Machinery Account and Depreciation Account for the first three years
assuming that the accounts are closed on 31st March each year. 8 Marks

Prepared By: CA Abhinay Namdev

Question 3: Prepare Trading and profit and loss Account for year ending 31 st mar 2023 from the
following information

Raw Material as on 1st Apr 15,000 Sales Commission 1% of

2022 sales
Finished Goods as on 1st Apr 18,200 Printing and Stationary 3200
2022
Purchase made during the year 1,30,400 Courier 780
Direct Wages 24,600 Bad debts 3000
Freight inwards 9,000 Loss by fire 6500
Sale made 3,40,200 Lottery wining 30000
Stock of Raw material as on 10,000 Accounting Charges 5300
31st Mar 2023
Stock of Finished Goods as on 12790 Traveling Expenses 3690
31st Mar 2023
School fees of son 15370 Loan received from friend 50000
Salary 5060 Internet Charges 560
Interest paid on long term 3600 Audit Fees 7000
loans
Rent, rates and taxes 3937 Drawing 15000

12 Marks

Prepared By: CA Abhinay Namdev