Tally: A perfect question to practice.

COMPANY NAME: - MAGNET BOOK STORE PRIVATE LIMITED

ADDRESS:              DHARAVI, MUMBAI - 400017

LEDGER NAME	UNDER GROUP	OPENING BALANCE
SHARE CAPITAL	CAPITAL ACCOUNT	15,00,000
LOAN FROM SBI BANK	SECURED LOAN	5,00,000
PROVISION FOR DEPRECIATION	PROVISION	450000
O/S RENT	CURRENT LIABILITY	6000
O/S SALARIES	CURRENT LIABILITY	8000
DEPOSIT FOR PREMISES	DEPOSITS (ASSETS)	2,00,000
INVESTMENT IN SHARES	INVESTMENT	60,000
FURNITURE	FIXED ASSETS	28,000
COMPUTERS	FIXED ASSETS	50,000
CASH IN BANK	BANK ACCOUNT	1,00,000
CASH IN HAND	CASH IN HAND	75,000
CLOSING STOCK	STOCK IN HAND	50,000
ABHYUDAYA BANK	BANK ACCOUNT	1,25,000
MACHINERY	FIXED ASSET	2,00,000
BUILDING	FIXED ASSET	6,00,000
Discount Allowed A/c Commission Allowed A/c	Indirect expenses Indirect expenses	1800 300	Cash cash
Salary A/c	Indirect expenses	500	Cheque
Travelling Expenses	Indirect expenses	900	Cheque
Rent paid A/c	Indirect expenses	450	Cash
Brokerage Account	Indirect expenses	1250	Cash
Printing & Stationery Electricity charges Miscellaneous expenses Advertisement Office expenses Interest on loan Delivery van expenses Conveyance Expenses Refreshment Expenses Administrative expenses Discount received A/c Commission received A/c	Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect expenses Indirect income Indirect income	600 1200 820 960 1020 350 125 650 250 450 900 4500	Cheque Cash cash Cheque Cheque Cheque Cheque Cheque Cheque Cheque Cheque Cheque

To maintain Stock Statement

Group	Categories	Stock item	Purchase price	Quantity	Godown
SCHOOL	ENGLISH	BALBARATHI	80	1500	DHARAVI
		YUVAK BARATHI	75	1000
	MATHS	ALGEBRA	65	1300
		GEOMETRY	55	1200
COLLEGE	ACCOUNTS	BASIC	85	1100	SION
		FINAL	90	1000
	MATHS	ARITHMATIC	45	1400
		STATISTICS	35	1350

Goods are purchased from these parties. (VAT @12.5%)

Date	Bill no.	Party name	Stock item	Godown	Qty
1STMAY	OM 001	BABAJI STORE	BALBARATHI	DHARAVI	450
1STMAY	OM 002	AMUL STORE	YUVAKBARATHI	DHARAVI	500
1STMAY	OM 003	ANAND STORE	ALGEBRA	DHARAVI	600
1STMAY	OM 004	ABINAYA STORE	GEOMETRY	DHARAVI	310
1STMAY	OM 005	AZIM’S STORE	BASIC	SION	900
1STMAY	OM 006	SARASWATI STORE	FINAL	SION	150
1STMAY	OM 006	ANAND STORE	ARITHMATIC	SION	450
1STMAY	OM 007	ABINAYA STORE	STATISTICS	SION	750

Goods are sold to these parties. (VAT @12.5%)

Date	Bill no.	Party name	Stock item	Godown	Qty	Selling price
1STJUNE	OM P001	Reliance store	BALBARATHI	DHARAVI	150	100
1STJUNE	OM P002	TATA store	YUVAKBARATHI	SION	400	110
1STJUNE	OM P003	Omtex store	ALGEBRA	SION	530	120
1STJUNE	OM P004	Vishwas store	GEOMETRY	DHARAVI	310	130
1STJUNE	OM P005	Philips store	BASIC	DHARAVI	1000	145
1STJUNE	OM P006	Omtex store	FINAL	SION	200	125
1STJUNE	OM P006	IPL store	ARITHMATIC	SION	360	165
1STJUNE	OM P007	Reliance	STATISTICS	DHARAVI	900	175

Purchase and Sales Return

On 1^st June, goods purchased from Babaji store has been returned. Details are

Stock item	Godown	Quantity	Bill no.
BALBARATHI	Dharavi	2	OM 001

On 1^st August, goods purchased from Saraswati store has been returned. Details are

Bill no.	Godown	Quantity	Stock item
Om 006	Sion	1	FINAL

On 1^st October, goods purchased from Anand store has been returned. Details are

Bill no.	Godown	Quantity	Stock item
Om 003	Sion	5	ARITHMATIC

On 1^st July, goods sold to Philips Store were returned. Details are

Bill no.	Godown	Quantity	Stock item
Om p005	Dharavi	5	BASIC

On 31^st December, goods sold to Reliance company were returned. Details are

Bill no.	Godown	Quantity	Stock item
Om p007	Sion	2	BALBARATHI

On 31^st January, 2011 goods sold to IPL store were returned. Details are

Bill no.	Godown	Quantity	Stock item
Om p006	Dharavi	2	ARITHMATIC

Contra Entries

4.       On 1^st September, Withdraw Rs. 50000 from Abhyudaya bank for business purpose.

5.       On 30^th November, With drawn Rs. 25000 from Cash in bank for business purpose.

6.       On 28^th February, Deposit Rs. 25000 in Abhyudaya bank.

Charging Depreciation

On 31 – 3 – 2011 Charge depreciation @ 10% on furniture, 20% on computer, 12.5% on Machinery, 7.5% on Building