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Crack Junior Accountant Interview-3

The document provides a comprehensive guide for junior accountants, covering various scenarios related to GST, TDS, Tally Prime, journal entries, and Excel functions. It includes specific examples and formulas for handling transactions, tax implications, and data management. The content is prepared by CA Rupa Jain Daga for Skillshort Edulife Pvt. Ltd.

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cefah79536
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97 views7 pages

Crack Junior Accountant Interview-3

The document provides a comprehensive guide for junior accountants, covering various scenarios related to GST, TDS, Tally Prime, journal entries, and Excel functions. It includes specific examples and formulas for handling transactions, tax implications, and data management. The content is prepared by CA Rupa Jain Daga for Skillshort Edulife Pvt. Ltd.

Uploaded by

cefah79536
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Questions & Answers

CRACK JUNIOR
ACCOUNTANT
INTERVIEW
PREPARED BY :
CA RUPA JAIN DAGA
SKILLSHORT EDULIFE PVT. LTD.

CARUPAJAINDAGA
GST & TDS Scenarios
01

01 CRYSTAL LOGISTICS HIRED A GOODS TRANSPORT


AGENCY (GTA) AND PAID ₹15,000. THE GTA IS
UNREGISTERED. WHAT IS THE GST IMPLICATION?
GST is payable under Reverse Charge
Mechanism. The company (recipient) must
pay GST @5% and claim ITC if eligible.
02 NUCLEUS SOFTWARES PAYS ₹40,000 PER MONTH AS
OFFICE RENT. WHAT IS THE APPLICABLE TDS AND
UNDER WHICH SECTION?
TDS @10% should be deducted under
Section 194-I for rent of land/building.
Entry:
Rent A/c Dr. ₹40,000
To TDS Payable A/c ₹4,000
To Bank A/c ₹36,000

CARUPAJAINDAGA
Tally Prime Situations
02

03 ZENITH ELECTRICALS’ ACCOUNTANT WANTS TO ENTER


A BANK-TO-BANK TRANSFER IN TALLY. WHAT VOUCHER
SHOULD BE USED?
Use the F4 - Contra Voucher.
E.g., Transfer from HDFC to ICICI:
ICICI Bank A/c Dr.
To HDFC Bank A/c
04 THE ACCOUNTANT AT FUSION RETAIL WANTS TO
DUPLICATE AN ENTRY FOR A SIMILAR TRANSACTION.
WHAT IS THE SHORTCUT IN TALLY?
Use ALT + 2 on the existing voucher to
duplicate the entry.

CARUPAJAINDAGA
Journal Entries & Concepts
03

05 SOHAM ENTERPRISES PAID ₹1,500 AS PENALTY FOR


LATE FILING OF GST RETURN. HOW SHOULD THIS BE
RECORDED?
Entry:
Penalty A/c Dr. ₹1,500
To Bank A/c ₹1,500
It should be booked under “Indirect
Expenses” as it’s not allowed as business
deduction under Income Tax.
06 SPEEDY COURIER RECEIVED ADVANCE FROM CUSTOMER
FOR SERVICE NOT YET RENDERED. WHAT IS THE
JOURNAL ENTRY?
Bank A/c Dr.
To Advance from Customer A/c
When service is rendered, transfer to Sales:
Advance from Customer A/c Dr.
To Sales A/c
CARUPAJAINDAGA
Excel for Accountants
04

07 AN ACCOUNTANT WANTS TO CALCULATE GST (18%)


FROM THE TOTAL INVOICE VALUE IN EXCEL. WHAT
FORMULA SHOULD BE USED?
GST Amount = Invoice Value × 18 / 118
Example: =A2*18/118 if A2 contains the
total amount including GST.

08 WHAT FORMULA HELPS TO FETCH DATA FROM ANOTHER


TABLE BASED ON A COMMON FIELD IN EXCEL?
Use VLOOKUP or XLOOKUP (for newer Excel).
Example:
=VLOOKUP(E2,Table2!A:B,2,FALSE)

CARUPAJAINDAGA
05

09 THE ACCOUNTANT WANTS TO REMOVE UNWANTED


BLANK SPACES IN EXCEL ENTRIES. WHAT FORMULA
SHOULD BE USED?
Use =TRIM(A2) to remove extra spaces
from a cell.

10 A MANAGER WANTS TO ANALYZE SALES BY REGION.


WHAT EXCEL TOOL IS BEST FOR QUICK SUMMARIES AND
ANALYSIS?
Use a Pivot Table. It allows grouping,
summing, and filtering large datasets easily.

CARUPAJAINDAGA
06

CARUPAJAINDAGA

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