Manual Accounting Entries And Voucher Entry Assignment in Tally

 

 

AD Computer Campus

1.  Introduction

 

Read the below-given business scenario.

Write the manual entry for these and implement it in TallyPrime by creating a company for Rajat Traders. View the Profit and Loss a/c and Balance Sheet after each entry.

 

1.1.           Business Scenario I (accounting + inventory)

Mr Rajat has just started a trading business of computer peripherals named ‘Rajat Traders’. They deal in hardware such as Laptops, Desktops, Printers, Hard disks etc.

1. On 1^st April 2019,

a)    Rajat started the business by investing his personal money of Rs. 20 lakhs and the same is deposited in Kotak Mahindra Bank A/c 379023423 of Rajat Traders.

b)    Took a Loan of Rs. 5,00,000 from ICICI Bank and deposited in Kotak Bank Account

c)     Rajat Traders bought a Delivery Vehicle to deliver goods to their clients worth Rs. 5,00,000 Through Kotak Mahindra Bank.

d)    The business bought 50 no. of Laptops @ Rs. 35000/- each from a supplier ‘Sunrise Enterprises’ on credit.

2. On 2^nd April 2019,

a)    3 laptops are sold to a customer @ Rs. 45000 with cash received immediately.

b)    10 laptops are sold to ‘Deepak Sales Corporation’ @Rs.45000 on credit of 30 days.

c)     Payment of Rs. 70,000 is made to Sunrise Enterprises through cheque.

d)    Rs. 20,000 cash-in-hand is deposited to Rajat Trader’s (company’s) Kotak Mahindra Bank a/c 379023423.

3. On 1^st May 2019,

a)    Rs. 1,50,000 is received from Deepak Sales Corporation towards the sale made on 2-4-2019 by cheque

b)    Rajat Traders paid the following expenses by cash:

1. Rent for office premises Rs. 30,000
2. Salary to Employees Rs.50,000

                                 iii.        Electricity Rs. 7,000

 

2.   outcome

 

Below are the outcomes after recording the transactions as per business scenario, this is for your reference to ensure that you have done it properly.

 

2.1.           business scenario i

2.1.1.     Balance Sheet Statementt

 

2.1.2.     Profit and Loss Account

 

2.1.3.     Trial Balance - Detailed

2.1.4.     Stock Summary with Inwards, Outwards and Closing Balance

 

2.1.5.     Bank A/c Ledger Report