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 1st June, goods purchased from Babaji store has been returned. Details are
Stock item
Godown
Quantity
Bill no.
BALBARATHI
Dharavi
2
OM 001
On 1st August, goods purchased from Saraswati store has been returned. Details are
Bill no.
Godown
Quantity
Stock item
Om 006
Sion
1
FINAL
On 1st October, goods purchased from Anand store has been returned. Details are
Bill no.
Godown
Quantity
Stock item
Om 003
Sion
5
ARITHMATIC

On 1st July, goods sold to Philips Store were returned. Details are
Bill no.
Godown
Quantity
Stock item
Om p005
Dharavi
5
BASIC
On 31st December, goods sold to Reliance company were returned. Details are
Bill no.
Godown
Quantity
Stock item
Om p007
Sion
2
BALBARATHI
On 31st 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 1st September, Withdraw Rs. 50000 from Abhyudaya bank for business purpose.
5.       On 30th November, With drawn Rs. 25000 from Cash in bank for business purpose.
6.       On 28th 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

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