Operating Expenses Practical Assignment in Tally

 

Operating Expenses Practical Assignment 

in Tally

1.   Introduction

Read the below-given business scenario and implement it in TallyPrime by creating a company for ‘A-One Business Solutions’.

1.1.           Business Scenario I

‘A-One Business Solutions’ having registered with GST No 33AAACP0252G1Z0 from Coimbatore is into software selling and services business.

 

01.04.19	‘A-One Business Solutions’ started its business with a capital of Rs. 2,00,000/- & deposited in Cash.
02.04.19	Paid cash for conveyance expenses of Rs. 1,050 to ‘Uber India Pvt Ltd’ and received GST Invoice as below: Inv No. UB/1775, Conveyance Charges 1,000 State GST @ 2.5% is 25 and Central GST @ 2.5% is 25
05.04.19	Bought furniture worth 20,000 from Venkat Sulochana Furnitures and paid cash
10.04.19	Purchased laptop worth 30,000 from Syscare Infotech and paid cash
30.04.19	Booked rent of 10,000 for office space to Mr Narasimhan
30.04.19	Paid salaries for staff of 22,000 by cash
05.05.19	Paid 10,000 to Mr Narasimhan by cash
10.05.19	Paid electricity charges of 989 by cash

 

Tasks:

·       On 31^st May, record given-below transactions by duplicating the transactions passed earlier for these expenses

o   Duplicate Rent transaction to book rent for the month of May 2019

o   Duplicate salaries transaction and Rs. 21,000 paid for the month of May 2019

 

2.   Reports outcome

 

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

 

2.1.           profit & loss a/c

 

 

2.2.           Balance sheet

 

 

2.3.           Cash a/c