Lesson – 1

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

Balance Sheet as on 31-03-2010

Liabilities Assets

Capital A/C 1,85,000.00 Land & Building 45,000.00

P/L 55,000.00 Plant & Machinery 60,000.00

S. Creditors S. Debtors

DGP Steel 15,000.00 KK Enterprises 20,000.00

Gupta & Co. 10,000.00 MS Co. Ltd. 15,000.00

Bills Payables 5,000.00 Bills Receivables 7,000.00

Cash in Hand 75,000.00

ICICI Bank 48,000.00

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

Capital A/C 1,75,000.00 Land 40,000.00

P/L 40,000.00 Machinery 70,000.00

S. Creditors S. Debtors

Saha & Co. 5,000.00 India Co. Ltd. 10,000.00

Excel Co. Ltd. 8,000.00 MG & Co. 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 Salary paid Rs. 3500

15.5.2002 Purchase Goods from Saha & Co. Rs. 7000
20.5.2002 Commission Receipts Rs. 500
25.5.2002 Sold goods to India Co. Ltd. Rs. 15000
30.5.2002 Cash withdraw form IIDFC Bank 8000
6.6.2002 Goods return to Saha & Co. 1500
8.7.2002 Salary paid Rs. 1800
10.7.2002 Goods return from India Co. Ltd. Rs. 800
15.7.2002 Cash Deposited into bank Rs. 4000
5.8.2002 Purchase goods from Excel Co. Ltd. Rs. 9000
10.8.2002 Goods sold by Cash Rs. 12500
20.9.2002 Goods return to Excel Co. Ltd. Rs. 1000
30.3.2003 Deprec.

Land Rs. 1500

Machinery Rs. 1000
 Lesson – 3

Create the following B/S and Transaction of Chopra International

Balance Sheet as on 31-03-2003

Liabilities Assets

Capital A/C Goodwill 65,000.00

Mr. A – 65000
Mr. B – 50000
Mr. C – 55000 1,70,000.00

P/L 58,000.00 Machinery 70,000.00

S. Creditors S. Debtors

Roy & Co. 15,000.00 ABC Co. 10,000.00

Raj & Raj 12,245.00 MGM & Co. 5,000.00

Outstanding Rent 4,000.00 Cash in hand 31,000.00

SBI Bank 20,000.00
UBI Bank 45,000.00
Closing Stock 13,245.00
=========== ===========
2,46,000.00 2,46,000.00
=========== ===========

Stock item

Item Unit Purchase Rate Sales Rate Op. Balance

Shirt Nos. 100/- 120/- 100

Cloth Mts. 60/- ----- 50
Button Doz 3/- ----- 40
Thread Rls. 2.50 ----- 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 Wages paid in Cash Rs. 5000

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

For the Month of MAY :

1.5.98 Carriage Outward Rs. 3000

5.5.98 Salary paid in Cash Rs. 900
10.5.98 Interest paid Rs. 4000 in cheque
15.5.98 Purchase Factory Rs. 10000
20.5.98 Purchase Furniture Rs. 9000
25.5.98 Purchase Machinery in Cash Rs. 8000
30-05-98 Cash paid to Bank Rs. 5000

For the Month of JUNE :

5.6.98 Salary paid in cash Rs. 800

10.6.98 Rent paid in cash Rs. 2600
15.6.98 Electricity paid in Cheque Rs. 700
20.6.98 Loan Received Rs. 20000
25.6.98 Rates paid in Cash Rs. 500
30.6.98 Commission Received Rs. 1000
30-06-98 Purchase Return to Ram 1100

For the Month of JULY :

5.7.98 Salary paid in cash Rs. 700

10.7.98 Cash purchase Rs. 5000
15.7.98 Cash sales Rs. 40000
20.7.98 Wages paid Rs. 4000
25.7.98 Sales Return Rs. 1200
30.7.98 Carriage Inward Rs. 1000
30-07-98 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 1,50,000 Goodwill 30,000

Profit & Loss A/c 30,000 Furniture 20,000
Loan 70,000

Creditors Debtors

Digit Infocom 50,000 Das Bros. 15,000

[TR 1001 – 15/02/2003] [TD 1001 17/01/2003]

RK Infocom 30,000 Bose Bros. 30,000

[TR 2001 – 05/02/2003] [TD 2001 11/02/2003]

Cash in hand 60,000

Cash at SBI 40,000
Closing stock 1,35,000

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

Closing Stock Details Shown Here

TV Set - 5 Pic @ Rs. 1,50,000/- (GST – 18%)

Radio - 50 Pic @ Rs. 700/- (GST – 18%)
VCD - 10 Pic @ Rs. 2,500/- (GST – 18%)

ITEM DETAILS

Item Unit Purchase Rate Sales Rate

TV Set Pic 15,000/- 18,000/-

Radio Pic 700/- 850/-
VCD Pic 2,500/- 3,000/-
 DURGAPUR YOUTH COMPUTER TRAINING CENTRE

Financial Accounting

GST 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
5 Pic VCD
5 Pic Radio

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 ASSETS

Capital 2,00,000 Goodwill 50,000

P/l a/c 53,000 Factory 20,000
Loan 40,000 Plant 20,000
Furniture 20,000

S/Creditors : S/Debtors :

Ram (Sc 1) 5.3.97 10,000 Tom (Sd 1) 5.3.97 10,000

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

Outstanding Rent 5,000 Bank 50,000

Cash 1,38,000
======== ============
3,25000 3,25000
======== ============
Workings :

Cost Centre : Company Have 2 Cost Center

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 II) Calcutta Branch

Under : Expenses Indirect Under : Total Salary

III) Delhi Branch

Under : Total Salary

Ledger Should be Created in this way

1. Mr. A a/c 2. Mr. B a/c

Group : Calcutta Branch Group : Calcutta Branch
3. Mr. C a/c 4. Mr. D a/c

Group : Delhi Branch Group : Delhi Branch

Do the following Entries : -

1.4.97 Wages paid 2000 [Factory Staff 1000 & Office 1000]
5.4.97 Salary paid to Mr. A 1000
10.4.97 Manufacturing Expenses 2000 [Factory]
15.4.97 Purchase in Credit from Ram 7000 [Factory Bill No. : SC4]
20.4.97 Sales in credit to Tom 11000 [Factory Bill No. : SD4]
25.4.97 Machinery Repairs 3000 [Factory]
30.4.97 Carriage Inward 2000 [Factory 1000 & Office 1000]
1.5.97 Carriage Outward 3000 [Factory 2000 & Office 1000]
10.5.97 Purchase a New Factory Rs. 10000
15.5.97 Purchase a New Furniture in Cheque 9000
20.5.97 Purchase a New Machinery 8000
30.5.97 Salary paid to Mr. A Rs. 800
1.6.97 Purchase in credit from Shyam 6000 [Factory 5000, Office 1000
Bill No. SC5]
10.7.97 Salary paid to Mr. D Rs. 1000
 Lesson No. : 3 (Bill by Bill)
………………………………………………………………………

Do the following Entries : -

3.8.97 Electricity paid in Cheque [Factory – 500, Office – 200] Rs. 700
6.8.97 Sales in Credit to Dick 7000 [Factory – 6000, Office – 1000]
Bill No. SD5
25.8.97 Credit Purchase from Jadu 6000 [Factory] Bill No. SC6
27.8.97 Salary Paid to Mr. C Rs. 3000
30.8.97 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]
5.9.97 Credit sale to Harry Rs. 6000 Bill No. SD6
8.9.97 Dick paid to Shyam Rs. 4000 [SD2 Rs. 2000, SD5 Rs. 2000]
and [SC2 Rs. 2000, SC5 Rs. 2000]
10.9.97 Harry paid to Jadu Rs. 3000 [SD3 Rs.1500, SD6 Rs. 1500] and
[SC3 Rs. 1500, SC6 Rs. 1500]
15.9.97 Purchase Return to Mr. Ram Rs. 1500 [SC1 Rs. 500, SC4
Rs. 1000]
18.9.97 Salary paid toMr. D Rs. 900
20.9.97 Sales Return from Tom Rs. 1500 [SD1 Rs. 800, SD4 Rs. 700]
25-09-97 Depreciation : --
…………………
i) Furniture Rs. 2000
ii) Factory Rs. 3000
iii) Plant Rs. 4000

26.9.97 Paid to Mr. Ram Rs. 1000(against Bill No. SC1 Rs. 500 and SC4
Rs. 500)
28.9.97 Cheque received from Mr. Dick Rs. 1000 on account
1.10.97 Paid to Mr. Shyam Rs. 1000 (against Bill No. SC2 Rs. 500 and SC5
Rs. 500)
2.10.97 Cheque dishonored by Bank Rs. 1000 (Which was received from
Mr. Dick on 28-09-97 on account)
10.10.97 Paid to Mr. Jadu on his account Rs. 1000
12-10-97 Cheque received from Mr. Dick Rs. 1500 (against Bill no. SD2)
14-10-97 Paid to Mr. Shyam Rs. 1000 (against Bill No. SC2 Rs. 500 and
SC5 Rs. 500)
20.10.97 Rent paid Rs. 2000 [Factory 1500 & Office 500]
1.11.97 Paid outstanding Rent Rs. 3000 (Previous year)

See the following Reports

Trial Balance
Bill Wise Reports
Working Report