HI – TECH INSTITUTE OF TECHNOLOGY

TALLY SYLLABUS
S.No Particulars Page. No

1 Fundamental of Accounting 1

2 How to Create Company 3

3 Features of Company 4
4 How to Create list of ledger 5

5 How to make voucher Entry 10

6 Assignments 12

7 Simple Problems No: 1 21-22

8 Simple Problem No: 2 23-24

9 Partnership Problem No: 3 25-26

10 Partnership Problem No: 4 27-28

11 Billwise problem No: 5 29-30

12 Billwise problem No: 6 31-32

13 Cost Center Problem No: 7 33-34

14 Inventory Problem No : 8 35-36

15 Inventory Problem No : 9 37-39

16 Inventory Problem No : 10 40-41

17 GST Problem No : 11 42-43

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Fundamental of Accounting
Definition of Accounting

Accounting is the process of identifying, recording, classifying and

reporting information on financial transactions in a systematic
manner for the purpose of providing financial information for
decision making.

Types of Accounts

There are basically three types of Accounts maintained for

transactions

 Personal Account
 Real Account
 Nominal Account

Personal Account: Any individual person or any firms or any

company or a bank is considered in a Personal account. For
example:- Rajesh Singh, Muna Enterprise, Wipro Pvt Ltd, PNB
Bank, Capital etc.

Real Account: Account of any physical things. The cash account

or goods account are examples of Real account. For example:-
Cash, Land, Building, Furniture, Computer etc.

Nominal Account: Account of any invisible things that means

that things are in terms of cash are examples of Nominal account.
For example:- Discount, Commission, Salary, Wages, Freight etc.

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Golden Rules of Accounting

1. Personal Accounts

The Receiver Debit (Dr)

The Giver Credit (Cr)

2. Real Accounts

What comes in Debit (Dr)

What goes out Credit (Cr)

3. Nominal Account

All Expenses or Losses Debit (Dr)

All Income or Gains Credit (Cr)

Start Tally Software

Open Tally > W: Work in Educational Mode

 COMPANY :

The term "Company" in Tally means any Accounting

Entity, for which a separate set of Accounting Records are
maintained.

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Create a Company

F3 :(Company) > Create Company

Company Name: Super Traders

Fill up: Address, State and other optional details.
Accept

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Company Created Successfully,

(Enable features as per your business need)

Accounting
Maintain Account : Yes
Enable bill wise entry : No

Inventory : No
Enable Goods and Service Tax (GST) : No
TDS : No

Accept

Shut Company

F3 > Company > Shut Company

Alter Company

Go To > Select Company > Super Traders

F3 : Company > Alter Company

Change your address or any other data
Accept

Delete Company

Go To> F3 (Company) > Alter Company > Alt + D

Company Super Traders has been deleted.

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 LEDGER :
A ledger is the actual account head to identify your
transactions and are used in all accounting vouchers.

Check on Gateway of Tally > Chart of Account> Groups

Creating Ledger

By default there is two ledgers

1. Cash
2. Profit and Loss A/c
Check the default ledgers Gateway of Tally>Charts of
Accounts>Ledgers

Gateway of Tally > Masters > Create >Ledger

S.No Name of the Ledger Under group

1 Any person Started business Capital A/c
2 Drawing Capital A/c
3 Open Bank Account Bank A/c
4 Purchase Purchase A/c
5 Sales Sales A/c
6 Purchase Return Purchase A/c
7 Sales Return Sales A/c
8 Wages Direct Expenses
9 Fright Charges Direct Expenses

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10 Octrai Direct Expenses

11 Carriage Inward Direct Expenses
12 Interest Paid Indirect Expenses
13 Commission Paid Indirect Expenses
14 Carriage Outward Indirect Expenses
15 Professional Tax Paid Indirect Expenses
16 Electricity Bill paid Indirect Expenses
17 Telephone Bill Paid Indirect Expenses
18 Interest on Capital Indirect Expenses
19 Any Asset Loss Indirect Expenses
20 Salary Indirect Expenses
21 Rent Paid Indirect Expenses
22 Discount Allowed Indirect Expenses
23 Deprecation Indirect Expenses
24 Advertisement Expenses Indirect Expenses
25 Office Expenses Indirect Expenses
26 Tea Expenses Indirect Expenses
27 Bank Processing Charges Indirect Expenses
28 Account Maintains Charges Indirect Expenses
29 Insurance Premium Paid Indirect Expenses
30 Postage charges paid Indirect Expenses
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31 Brokerage Charges paid Indirect Expenses

32 D D Charges Indirect Expenses
33 Mobile Currency paid Indirect Expenses
34 Courier Charges paid Indirect Expenses
35 Fax Charges Paid Indirect Expenses
36 Stock Loss Indirect Expenses
37 Commission Received Indirect Income
38 Interest received Indirect Income
39 Discount Earned Indirect Income
40 Any Assets Income Indirect Income
41 Interest on Drawing Indirect Income
42 Loan Taken Loan & Liabilities
43 Purchase any Good or Assets from Sundry Creditor
person
44 Any Due Current Liability
45 Building Fixed Assets
46 Furniture Fixed Assets
47 Computer Fixed Assets
48 Car Fixed Assets
49 Bike Fixed Assets
50 Machinery Fixed Assets

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51 Good will Fixed Assets

52 Sold any Good or Assets to person Sundry Debtor
53 FD (Fixed Deposit Investment
54 NSC (National saving Certificate) Investment
55 Shares Investment
56 Loan Given Loan & Advance
(Asset)
57 Any Advance Loan & Advance
(Asset)

 Vouchers :
vouchers are documents containing all the
information of financial transactions and provide an
easy way to enter and modify entries in the books of
accounts.

Types of VOUCHERS In TALLY

 F4: Contra : Cash deposited into bank and cash withdrawn from
bank entries.
 F5: Payment : Cash and cheque payment including cash and bank
purchase entries.
 F6: Receipt : Cash and cheque received including cash and bank
sales entries.
 F7: Journal : All non-cash transactions entries.

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 F8: Sales : Only credit sales entries.

 F9: Purchases : Only credit purchase entries.
 Alter + F7: Stock Journal : Stock transferred and production
entries
Gateway of Tally > Transactions > vouchers

Vouchers Mode Entries

Mode Change for Purchase and Sales voucher

Ctrl +L : Accounting Invoice :As voucher

1. Started Business with cash Rs500000 (Receipt.F6)

2. Open bank account in PNB bank with cash Rs 25000 (Contra.F4)
3. Purchased goods for cash of Rs 50000 (Payment.F5)
4. Purchased Machinery for Cash Rs 100000 (Payment.F5)
5. Purchase goods on credit from Mr. Pawan Kumar Rs 60000
(Purchase. F9)
6. Paid discount Rs 2000 (Payment.F5)
7. Sold goods on credit to Mr. SameerAlamRs 72000 (Sales. F8)
8. Purchase goods on credit from Super Pvt. Ltd. Rs 16000
(Purchase. F9)
9. Received cash from Mr. SameerAlam Rs 72000
(Receipt.F6)
10. Paid cash to Mr. Pawan Kumar Rs 60000

(Payment.F5)
11. Commission received Rs 5000 (Receipt. F6)
12. Electricity bill paid Rs 1000 (Payment.F5)
13. Purchased goods on credit from Sona Enterprise Rs 14000
( Purchase. F9)
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14. Purchased computer for cash Rs 21000 (Payment.F5)

15. Deposited cash into PNB bank Rs 10000 (Contra.F4)
16. Sold goods for cash Rs 80000 (Receipt.F6)
17. Paid cash to Sona Enterprise Rs 14000 (Payment. F5)
18. Depreciation on 10% for Machinery Rs 5000 (Journal.F7)
19. Interest paid cash on loan Rs 1000 (Payment.F5)
20. Withdraw cash into PNB bank Rs 25000 (Contra.F4)
21. Received Service Charge Rs 18000 (Receipt.F6)
22. Paid cash to Super Pvt. Ltd. Rs 16000 (Payment.F5)

Voucher Entry in Tally: Step by Step

Create the required Ledger directly

Press Alt+C after reaching in the entry box below Particulars.

Example : Create Capital Ledger under Capital Account Group
PNB Bank Ledger under Bank Account and so on.

(Receipt.F6)

Cr Capital 500000 Capital Accounts

Dr Cash 500000 Cash in Hand

(Contra.F4)

Cr Cash 25000 Cash in Hand

Dr PNB Bank 25000 Bank Accounts

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(Payment.F5)

Dr Purchase 50000 Purchase Accounts

Cr Cash 50000 Cash in Hand

(Payment.F5)

Dr Machinery 100000 Fixed Assets

Cr Cash 100000 Cash in Hand

(Purchase. F9)

Cr Pawan Kumar 60000 Sundry Creditors

Dr Purchase 60000 Purchase Accounts

(Payment.F5)

Dr Discount 2000 Indirect Expenses

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Cr Cash 2000 Cash in Hand

(Sales. F8)

Dr SameerAlam 72000 Sundry Debtors

Cr Sales 72000 Sales Accounts

(Purchase. F9)

Cr Super Pvt Ltd 16000 Sundry Creditors

Dr Purchase 16000 Purchase Accounts

(Receipt.F6)

Cr Sameer Alam 72000 Sundry Debtors

Dr Cash 72000 Cash in Hand

(Payment.F5)

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Dr Pawan Kumar 60000 Sundry Creditors

Cr Cash 60000 Cash in Hand

(Receipt. F6)

Cr Commission 5000 Indirect Incomes

Dr Cash 5000 Cash in Hand

(Payment.F5)

Cr Cash 1000 Cash in Hand

Dr Electricity Bill 1000 Indirect Expenses

(Purchase. F9)

Cr Sona Enterprise 14000 Sundry Creditors

Dr Purchase 14000 Purchase Accounts

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(Payment.F5)

Cr Cash 21000 Cash in Hand

Dr Computer 21000 Fixed Assets

(Contra.F4)

Cr Cash 10000 Cash in Hand

Dr PNB Bank 10000 Bank Accounts

(Receipt.F6)

Cr Sales 80000 Sales Accounts

Dr Cash 80000 Cash in Hand

(Payment.F5)

Cr Cash 14000 Cash in Hand

Dr Sona Enterprise 14000 Sundry Creditors

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(Journal.F7)

Dr Depreciation 5000 Indirect Expenses

Cr Machinery 5000 Fixed Assets

(Payment.F5)

Cr Cash 1000 Cash in Hand

Dr Interest on Loan 1000 Indirect Expenses

(Contra.F4)

Cr PNB Bank 25000 Bank Accounts

Dr Cash 25000 Cash in Hand

(Receipt.F6)

Cr Commission 18000 Indirect Income

Dr Cash 18000 Cash in Hand

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(Payment.F5)

Cr Cash 16000 Cash in Hand

Dr Super Pvt Ltd 16000 Sundry Creditors

Balance Sheet : Gateway of Tally > Reports > Balance Sheet

Cash in Hand 400000

Bank Accounts 10000

Net Profit 26000

Balance Sheet 526000

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1. SIMPLE PROBLEM

1) Mr. Sharanu started a business with cash Rs 5,00,000 on Jan 10-2019.

2) Open a bank account in AXIS Bank Rs 50,000.
3) Goods purchase Rs 25000
4) Purchase goods by DD Rs 10,000 & DD charges paid Rs 100.
5) Purchase goods from Prashant Rs 1,00,000.
6) Cash deposited in to bank Rs 1,00,000.
7) Sold goods Rs 2,00,000& receive a DD.
8) Cheque paid to Prashant Rs 95,000 & difference will be treated as discount
earned.
9) Goods sold to Shankar Rs 2,00,000.
10) Cash receive from Shankar Rs 1,00,000
11) Wages paid Rs 10,000
12) Fright charges paid Rs 5,000
13) Carriage inward paid Rs 5,000
14) Carriage outward paid Rs 10,000
15) Machinery purchase Rs 1,00,000
16) Furniture purchase from Madina furniture’s Rs 50,000
17) Loan taken from SBI bank Rs 5,00,000
18) Interest paid on loan Rs 5,000
19) Commission received Rs 1,00,000
20) Salary paid Rs 30,000
21) Professional Tax paid Rs 2,000
22) Rent due Rs 25,000
23) Electricity bill paid by cheque Rs 5,000
24) Mr. Sachin frothier broad into the business Rs 2,00,000.
25) Cash deposited in to bank Rs 1,50,000
26) Cash withdrawn from bank Rs 30,000
27) Bank loan repaid Rs 50,000.
28) Rent paid which was due.
29) Hand loan given to Mr. Akash Rs 15,000.
30) Discount earned in the form of cash Rs 50,000.

Problem No: 1

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Problem No: 1

Trail Balance 17,55,000

Gross Profit 2,45,000

Net profit 3,22,900

Cash in hand 8,97,900

Balance sheet 15,22,900

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2. SIMPLE PROBLEM

1) Mr. Veeresh started business with cash 100000

2) Open bank account with cash 30000
3) Purchase goods from Kaviraj on credit 14000
4) Sold goods to Praveen on credit 20000
5) Return goods to Kaviraj 1000
6) Return goods by Pravin 2000
7) Brought stationary 2000
8) Received cash on from Pravin 15000
9) Paid cash to Kaviraj 2000
10) Cash sales 50000
11) Cash purchase 15000
12) Loan taken from Gourav 10000
13) Sold goods on credit to Pravin 30000
14) Cash with drawn from bank for office use 5000
15) Cheque received from Pravin 10000
16) Paid for Advertisement 500
17) Pravin paid 15000
18) Salary due 1800
19) Telephone bill paid 500
20) Commission received 2000
21) Electricity bill paid 400
22) Cash purchase 40000
23) Cash sales 50000
24) NSE Bond purchase 3000
25) Motor purchased for office use 10000
Problem No: 2

Trail Balance 2,75,800

Gross Profit 80,000

Net profit 76,800

Cash in hand 1,73,600

Balance sheet 1,99,600

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3. PARTNERSHIP PROBLEM

1. Mr. Arun, Mr. Varun & Mr. Tarun started a business with Cash Rs 2,00,000,
Rs 3,00,000 &Rs 4,00,000.
2. Open a Bank account in HDFC Bank Rs 50,000.
3. Purchase goods from Ravi & Company Rs 1,00,000.
4. Cash deposited in to Bank Rs 3,00,000
5. Cheque paid to Ravi & Company Rs 95,000.
6. Goods Purchase Rs 30,000 by cash.
7. Goods purchase Rs 50,000 by cheque.
8. Sold goods to Akshya & Company Rs 5,00,000.
9. Wages paid by cheque Rs 10,000.
10.Cheque received from Akshya & company Rs 4,90,000.
11.Advance salary paid by ChequeRs 5,000.
12.Adjusted Discount of Ravi & Company And Akshya & Company.
13.Carriage paid Rs 5,000.
14.Building purchase Rs 5,00,000 from Rohan
15.Interest received Rs 20,000.
16.Purchase Machinery Rs 2,00,000.
17.Depreciation on Building at 12%.
18.Sold goods Rs 1,00,000& receive a DD.
19.Salary paid Rs 20,000 include Advance salary.
20.Advertisement expenses paid Rs 2,500.

Problem No: 3

Trail Balance 20,25,000

Gross Profit 4,05,000

Net profit 3,37,500

Cash in hand 3,12,500

Balance sheet 17,37,500

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4.PARTNERSHIP PROBLEM

1. Mr. Prakash, Mr. Pavan , Mr. Pradeep Started a Partnership business with
following Capital of 1,00,000 , 1,00,000 , 50,000.
2. Purchased goods on credit from Mr. Shastri Treding Company 50,000
3. Octori paid 1000
4. Wages due 3000
5. Furniture purchased for cash 10,000
6. Sold goods for cash 60,000
7. Return goods to Mr. ShastriTreding 5000
8. Opened a bank account in SBI with 50,000
9. Bought Machinery 15,000
10.Sold goods on credit to Mr. Shravan Traders 1,00,000
11.Carriage paid 2000
12.Cash withdrawn by partner for Domestic use
Prakash Drawing 10,000
Pavan Drawing 30,000
Pradeep Drawing 5000
13.Purchase goods on credit from Mr. Prahlad enterprises 50,000
14.Rent paid 1500
15.Discount paid 1000
16.Commission received 3000
17.Cash sales 50 ,000
18.Computer purchased 50,000
19.Paid for Advertisement 3500
20.Cash introduced by Partner as Additional Capital Pavan 50,000 & Pradeep
1,00,000
21.Return goods to Mr. Prahlad Enterprises 2000
22.Machinery sold for cash 3500,
23.Salary paid 3000
24.Telephone bill paid 2000
25.Cash sales 2,00,000
26.Allow interest on Capital @ 10% but not an additional Capital
27.Charge Interest on Drawings @ 5%.
28.Provide Depreciation on Furniture @ 10%.
29.Create Dividend Equalization Reserve 5000.

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Problem No: 4

Trail Balance 9,48,250

Gross Profit 3,11000

Net profit 2,79,250

Cash in hand 5,32,500

Balance sheet 7,53000

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5 BILL WISE PROBLEM

1. Mr. Gupta started a business with cash 200000 And Machinery worth 200000
2. purchased goods on credit from Rattan 100000 and issued the Bill payable for
full the value.
3. Wages paid 2000.
4. Sold goods on credit to Satya 250000 and received Receivable for 200000.
5. Cash paid Against Bill Ratan 60000
6. Discount Allowed to Satya 5000
7. Return goods by satya 5500
8. Cash Received from satya 10000
9. Cash received Against Bill of satya 50000
10. Salary paid 15000
11. Furniture purchased 50000
12. Cash purchased 100000
13. Purchased goods on Credit from Khan 80000 and issued the bills for 50000
14. Discount earned from Khan 2000
15. Sold goods on Credit to Ali 300000 and received the bill for 250000
16. Cash paid to Khan 3000
17. Cash paid Against Bill of Khan 25000
18. Cash Received Against Bill of Ali 100000
19. Rent paid 1500
20. Tele phone paid 2000
21. Purchased Shares of Indian Airlines 50000
22. Sold goods on Credit to Gouda 100000 and Received Bills for the same value.
23. Cash purchased 20000
24. Withdrawn cash 2000 for domestic Use
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25. Cash sales 100000.

Problem NO : 5

Trail Balance 12,42000

Gross Profit 4,42,500

Net profit 4,21000

Cash in hand 1,29,500

Balance sheet 9,09,000

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6. BILL WISE PROBLEM

1. Ramesh Patil commenced Business with a Capital 15Lakh.
2. Bought goods on credit from Mr. Govind 60000
3. Issued a Bills payable to Govind of 50000
4. Wages paid 500
5. Furniture purchased 70000
6. Paid Advertisement 1500
7. Sold goods for cash 70000
8. Rent due 1000
9. Sold goods on credit to Shiva 80000
10. Received a Bills Receivable from Shiva 50000
11. Cash paid to Govind On Account 5000
12. Cash paid Against bills payable of Govind 40000
13. Purchased goods On credit from Sanjay of 100000
14. Issued a bills payable to Sanjay of 80000
15. Cash received from Shiva 10000
16. Cash Received against Bills Receivable of Shiva 30000
17. Credit sold to Kailash 200000
18. Received a Bill Receivable from Kailash 200000
19. Return goods to Sanjay 5000
20. Cash paid Against Bills of Sanjay 50000
21. Cash Received Against Bills of Kailash 50000
22. Sold goods On credit to Sachin 50000
23. Rent paid which was due Earlier 1000
24. Salary paid 2000
25. Cash purchase 50000
26. Sold goods to Babu On credit 50000
27. Received a Bills Receivable from Babu 30000
28. Withdrawn cash by Ramesh for his Daughter Marriage 10000
29. Electricity bill paid 2000
30. Purchased goods from Kishore On credit 30000
31. Issued a Bills to Kishore of 20000
32. Return goods to Kishore 5000
33. Cash paid Against Bills of Kishore 10000

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No : 6

Trail Balance 20,36,000

Gross Profit 2,19,000

Net profit 2,12,000

Cash in hand 14,18,000

Balance sheet 17,78,000

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7. COST CENTER PROBLEM

1. Mr. Suresh Started a department business with cash Rs 5,00,000.

2. Purchase goods Rs. 2,00,000.
3. Salary Paid Rs 30,000.
4. Car Purchase 80,000.
5. Sold goods Rs 5,00,000.
6. Carriage inward paid Rs 2000.
7. Car repaid Rs 30,000.
8. Purchase goods from Mr. Ravindra Rs. 1,00,000.
9. Professional tax paid Rs. 1000.
10.Advertisement expenses paid Rs 10,000
11.Sold Goods to Mr. Irfan Rs 1,50,000.
12.Discount allowed to customer in each Rs 50,00,000.
13.Marketing & Distribution expenses Rs 50,00,000
14.Cash received from Mr. itfan & paid to Mr. Ravindra 1,00,000
15. Discount allowed to Mr. Irfan Rs 10,000 & Received a cash
Rs 40,000.
Problem No: 7

Particular Dip1 Dip2 Dip3 Trail Balance 11,50,000

Purchase 3 3 2 Gross profit 3,48,000

Sales 3 2 4 Net profit 1,67,000

Expenses 1 2 3 Cash In hand 5,87,000

Income 3 2 1 Balance sheet 6,67,000

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8. INVENTORY PROBLEM
1. Mr. Santosh started a business with capital of Rs 5000000
2. Purchase furniture 50000
3. Purchase following electronic goods for cash
10 Sony TV @ 10000 each
15 Sony Audio @ 5000 each
05 BPL TV @ 20000 each
10 BPL Camera @ 5000 each
15 Onida Audio @ 7000 each
4. Machinery purchase 60000
5. Wages paid 1000
6. Rent due 2000
7. Sold goods following electronics goods for cash
2 Sony TV @ 15000 each
3 BPL TV @ 25000 each
2 Onida audio @ 8000 each
8. Salary paid 5000
9. Advertisement paid 6000
10. Sold 2 BPL Camera @ 7000 each to Natraj on credit
11. Telephone bill paid 2000
12. Loan taken from Pavaki Finance 800000
13. Purchase following electronic goods on credit from Ganesh enterprises
10 Videocon TV @ 10000 each
15 Videocon VCR @ 5000 each
10 Samsung washing Machine @ 6000 each
14. Withdrawn cash for personal use 1000
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15. Sold electronics goods for cash

2 Videocon Tv @ 12000 each
3 Samsung washing machine @ 8000 each
4 Videocon VCR @ 6000 each
16. Octroi paid 2000
17. Withdrawn cash for personal use 10000

Problem No : 8

Trail Balance 62,44,000

Gross Profit 42,000

Net profit 27,000

Cash in hand 54,26,000

Balance sheet 60,53,000

Purchase A/c 6,65,000

Sale A/c 2,07,000

Closing stock 5,03,000

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9. INVENTORY PROBLEM
1. The following Partners Started a Business with the following Capital
Shahabaz Capital 5000000
Mallik Capital 10000000
Kareem Capital 5000000
2. Purchased following CARS for Cash
5 Tata-Magna @ 400000
4 Astra- Corsa @ 300000
6 Ford-Ikon GT @ 450000
3 Alfa-Spider @ 500000
6 Tata-Aria @ 300000
8 Maruti-Wagona @ 200000
3. Wages due 1000
4. Purchase Furniture 20000
5. Sold following CARS On credit to following Debtors,
2 Tata-Magna @ 450000 Sharma
1 Astra-Corsa @ 350000 Varma Maruti –Wagona @ 250000 Gupta
6. Purchase NSE Bond for 50000
7. Rent Paid 3000
8. Salary due 4000
9. Purchased following CARS On Credit from following Creditor
2 Suzaki-C2 @ 250000 from TVS
2 Tata –Euro Sport @ 500000 from Telco
3 Maruti-Udayog @ 400000 From Toyoto
10. Advertisement paid 10000
11. CAR Maintain Exp 3000
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12. Electricity Bill 3000

13. Sold following CARS for Cash
1 Suzuki – C2 @ 300000
2 Alfa-Spider @ 550000
3 Ford-Ikon GT @ 500000
1 Tata-Aria @ 400000
14. Purchased Computes for Office Use 40000
15. Salary paid which was due
16. Rent paid 3000
17. Salary paid 4000
18. Interest Received from NSC 10000
19. Cash withdrawn by Partners for Personal Use
Mallik Draw 10000
Kareem Draw 50000
20. Mr. Shahbaz Taken 1 Tata – Euro Sport at Cost price for his personal Use
21. Cash Received from Sharma 500000
22. Cash paid to Telco 1000000

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Problem No: 9

Trail Balance 2,76,61,000

Gross Profit 6,29000

Net profit 6,49000

Cash in hand 1,18,12000

Balance sheet 2,26,70,000

Purchase A/c 1,39,00000

Sale A/c 50,50,000

Closing stock 95000

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10. INVENTORY PROBLEM

1. Mr. Kartik started a departmental store with a capital Rs 10,00,000
2. Open a bank account in Canara bank Rs 50,000
3. Purchase following goods
a) 1000 Sugar bags @ Rs 50 each
b) 2000 Rice bags @ Rs 100 each
c) 500 Wheat bags @ Rs 80 each
d) 1,500 Broken rice @ Rs 40 each
4. Wages paid Rs 5000
5. Hand loan given to Mr. AshishRs 20, 000
6. Sold the following goods
a) 800 Sugar bags @ Rs 80 each
b) 1000 Rice bags @ Rs 150 each
c) 300 Wheat bags @ Rs 100 each
d) 1000 Broken rice @ 80 each
7. Commission Received Rs 50,000
8. Purchase the following items from Mr.Zaheer
a) 500 Sugar bags @ Rs 60 each
b) 1000 Rice bags @ Rs 110 each
c) 500 Wheat bags @ Rs 90 each
d) 500 Broken rice @ Rs 50 each
9. Cash received from Mr. Ashish Rs 20,000 & Interest Rs 5,000
10. Sold the following items for Vijay.
a) 500 Sugar bags @ Rs 100 each
b) 1000 Rice bags @ Rs 160 each
c) 500 Wheat bags @ Rs 120 each
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d) 500 Broken rice @ Rs 100 each

11. Mr. Zaheer’s account is settled by cheque.
12. Salary paid Rs 10,000
13. Mr. Vijay’s account is settled by cheque.
14. Mr. Kartik father broad in to the business Rs 1,00,000
15. Interest paid Rs 2000.

Problem NO: 10

Trail Balance 17,99,000

Gross Profit 2,31,250

Net profit 2,74,250

Cash in hand 10,62,000

Balance sheet 13,74,250

Purchase A/c 5,60,000

Sale A/c 6,44,000

Closing stock 1,52,250

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11. GST PROBLEMS

1. Mr. Balaji started a business in two wheeler with a cash of 10000000
2. Loan taken from Canara bank 5000000
3. Purchase the following vehicles with GST 28%
5 Bajaj deluxe scooter @ 20000 each
7 Bajaj classic scooter @ 25000 each
10 Hero Honda CD 100 @ 40000 each
6 Hero Honda CBZ @ 60000 each
3 Yamaha RX 100 @ 35000 each
7 Kawaski Boxer @ 40000 each
4. Wages paid 2000
5. Octro due 3000
6. Sold following goods on credit to Devanand auto mobiles with GST 28%
1 Bajaj deluxe @ 25000 each
2 Hero Honda CD 100 @ 45000 each
2 Kawasaki Boxer @ 50000 each
7. Furniture purchased 50000
8. Paid for advertisement 3000
9. Sold following goods for cash with GST 28%
2 Bajaj classic @ 30000 each
3 Hero Honda CD 100 @ 45000 each
2 Hero Honda CBZ @ 75000 each
10. Paid Insurance premium on goods 3000
11. Purchase following goods on credit from Sharma Auto works with Tax
10 Hero Honda CBZ @ 60000 each
12 Yamaha RX 100 @ 35000 each
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12. Carriage paid 5000

13. Sold following goods on credit to Shahabadi dealers
3 Yamaha RX 100 @ 50000 each
5 Hero Honda CBZ @ 80000 each
14. Discount allowed to Shahabadi dealers 3000
15. Returned a Hero Honda CBZ by Shahabadi dealers at same rate

Balance sheet: 1,61,42,200

Purchase A/c 24,40,000 Closing stock 16,35000

Sale A/c 10,30,000 Trail Balance 1,74,45,600

Gross Profit 1,93000 Taxable Amount 11,10,000

Net profit 1,79000 Tax Amount 3,10,800

Cash in hand 1,35,61000 ITC 6,83,200

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