DCTs S. S.

Dempo College of Commerce and Economics

Altinho - Panaji

B.Com. Semester IV, March 2015

E-Commerce and E-Accounting
Tally Practical Assignment

Q.1 Create the company with following details in Tally software and pass the journal entries for
the transactions given below.

Company details :
Company Name : SYA Roll No.
Mailing Name : Your Full Name
Accounting year : 1.4.2014 31.3.2015

Account structure :
(i) Create groups (a) Equipments and (b) Furniture both under fixed assets
(ii) Create cost centres (a) Employee Expenses, (b) Promotion Expenses and (c) Finance
Expenses
(iii) Create following stock item: (a) Printers (b) Scanners (c) Plotters.
(iv) Create two godowns: (a) Panaji [for Printers and scanners] (b) Margao [for Plotters]

Transactions:
Sr. Date Transaction
No.
1 1.4.14 Invested capital in business Rs.50,00,000 through GMC Bank.

2 1.4.14 Bought Office Furniture for Rs.50,000. Payment made by cheque.

Bought Laptop for office use for Rs.25000 on credit basis from GK &
SONS.
3 1.4.14 Borrowed loan of Rs.1,00,000 from GMC Bank @10% p.a. interest. Amount
of loan credited in firms bank A/c with GMC.
4 1.4.14 Withdrew cash of Rs.1,00,000 from GMC Bank for business expenses. From
this amount paid Advance Rent of Rs.6000 for office premises for April and
May months. Rent to be adjusted accordingly for respective months.
5 1.5.14 Bought office stationery for Rs.10,000. Amount paid by cash
6 1.6.14 Withdrew cash of Rs.10,000 from GMC Bank for personal purpose.
Sr. Date Transaction
No.
7. 1.6.14 Purchased 10 scanners @ Rs.10,000 each. Amount paid by cheque.
8. 1.7.14 Purchased 10 Printers @ Rs.6000 each and amount paid by cheque.
9. 1.7.14 Purchased 10 Plotters @Rs.30000 each on credit basis from KK Machines.
10. 1.7.14 Paid salary Rs.50,000 by cheque.
11. 1.8.14 Paid bonus of Rs.10000 by cash to employees
12. 1.8.14 Sold 5 scanners for Rs.25000 each to Akash Enterprises @10% discount.
Amount received by SBI cheque. Discount is promotional expense.
Created fixed deposit of Rs.20,000 in GMC Bank through account transfer.
Interest rate on fixed deposit is 9.5% p.a. FD is for one year.
13. 1.9.14 Sold 5 Printers for Rs.15000 each to JK & Co. on credit basis.
14. 1.9.14 Sold 5 Plotters for Rs.50,000 each. Payment received by cheque.
Sold 3 printers for Rs.20000 each on credit basis to DAYA &CO.
15. 1.10.14 Paid for advertising Rs.15,000 by cash which also included prepaid
advertisement amount of Rs.5000 towards banners.
16 1.10.14 Depreciation to be charged on all fixed assets @12% p.a.
17 1.10.14 Record interest on loan paid by cash and interest on fixed deposit added to
FD a/c.
18 1.11.14 Exported 2 Plotters to JACK & CO in US @$4000 each. Exchange rate
applicable is 1$=Rs.60.25. 50% of the amount received by bank transfer to
GMC bank.