Advanced Accounting: Computer Lab - Practical

Computer Lab - Practical
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ADVANCED ACCOUNTING
FACULTY OF COMMERCE, OSMANIA UNIVERSITY
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B.Com (All Streams) II Year W.E.F.2009-10
Time: 60 Minutes Record : 10
Skill Test : 20
Total Marks : 30
Note: Problems are to be solved by using computers (Excel/Accounting package).
1. Venkat Ltd made an issue of 10,000 equity shares of Rs.100 each, payable Rs.20 on
application, Rs.30 on allotment, Rs.30 on First call and Rs.20 on final Call. All the shares
are subscribed and amounts duly received.
Pass journal entries to give effect to these and also show the relevant items in the Balance
Sheet.
2. Rao & Company Ltd issued 5000 equity shares of Rs.100 each at a premium of Rs.40 per
share, payable Rs.10 per share on application, Rs.60 per share on allotment (including
premium), Rs.30 on first call and balance on final call. The shares were all subscribed and
all money due was received expect the first call money on 1000 shares and final call
money on 1500 shares.
Give the Journal Entries to record the above transactions.
3. Lavanya Ltd. Offered 1,00,000 equity shares of the nominal value 100 each for public
subscription at Rs.120. The amounts payable on the shares were on application Rs.45, on
allotment (including premium) Rs.45, on first and final call Rs.30. The actual
subscription was only for 90,000 shares. All money payable by shareholders was received
except from Kirshna Rao, who had taken 1000 shares but failed to pay the final call. His
shares were forfeited and re-issued to Prashanth at Rs.60 each.
Show journal entries in the books of the company.
4. Ramu Ltd., issued 10,000 Debentures of Rs.100 each for subscription. The debenture
moneys are payable as follows:
Rs.30 on application, Rs.40 on allotment, Rs.20 on first call and Rs.10 on second call. A
person who holds 200 Debentures fails to pay the amount due at the time of allotment.
He, however, pays this amount with the first call money. Another person who is holding
400 Debentures, has paid all the calls in advance at the time of allotment.
Give Journal entries in the books of the company.
5. On 1st April, 1993, Geeta Products Ltd. issued Debenture for Rs.1,00,000, redeemable at
par at the end of the 5 years and its was resolved that a Sinking Fund should be formed
and invested in tax-free securities.
Give Journal Entries for 5 years, assuming that the interest received on the investment
was at the rate of 5 percent on cost, that the interest was received yearly and immediately
invested and that the investments were realized at a loss of Rs.300 at the end of five
years.
Reference to the Sinking Funds Table shows that Rs.0.180975 invested at the end of the
year, at 5% compound interest will produce Rs.1 at the end of 5 years.
http://www.saif4u.webs.com
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ADVANCED ACCOUNTING
6. The following is the Balance Sheet on 31st March 1992 of Mr. A.
Rs. Assets Rs.

Liabilities
Creditors 3,000 Cash 500
A’s Capital 13,500 Debtors 4,000
Stock 5,000
Furniture 750
Premises 6,000
Investments 250
16,500 16,500
He decided to admit a partner and it is arranged that the partner shall join on the above
Balance Sheet subject to the following modifications:
i) 5% reserve for bad debts is to be provided on Debtors,

ii) Stock to be taken at Rs.4,500,
iii) Furniture is to be taken at Rs.500,
iv) Premises to be taken at Rs.7,000,
v) Cash and investments not to be taken over by the partnership.
Make the Journal entries and prepare the balance sheet giving effect to the modifications.
7. A & B shared in proportions of 3 and 2 with capitals of Rs.20,000 and Rs.15,000

respectively. They agree to admit C into partnership as from 1st January, 1992 on the
following terms for a third share in future profits:
a) That C should bring in Rs.20,000
b) That as C is unable to bring this share of goodwill in cash, the goodwill of the firm be
valued at Rs.15,000 and a goodwill account be raised and written off in the firm’s
books.
Set out the journal entries required, the capital accounts of the partners, the goodwill
account and state the future profit sharing proportion of the partners.
8. A and B are partners sharing profits in the ratio of 3 : 2. C is admitted and the new profit
sharing ratio is 2 : 2 : 1. C brings in cash Rs.8,000 for capital and Rs.2,000 for goodwill.
The balance sheet of A and B is as follows:
Rs. Rs.
Capitals: A 8,000 Good will 2,500
B 8,000 Assets 17,500
Reserve Fund 4,000 . .
20,000 20,000
Give journal entries and prepare balance sheet of the new firm.
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ADVANCED ACCOUNTING
9. A and B are equal partners in a firm. They decided to admit C as a new partner and Re-
adjust the Balance Sheet values for this purpose. The Balance Sheet of A and B on 31st
Dec., 1989 was as under:
Rs. Rs.
Creditors 1,000 Cash 600
Bills Payable 1,000 Debtors 1,500
Reserve Fund 400 Stock 1,400
A’s Capital 1,500 Furniture 400
B’s Capital 1,000 Machinery 1,000
4,900 4,900
The following adjustments were to be made before C’s admission:
(a) Rs.300 were to be provided for doubtful debts, (b) furniture was valued Rs.250, c)
investment worth Rs.400 (not mentioned in the Balance Sheet) were to be taken into
account d) C brings Rs.1,000 for capital and Rs.1000 for goodwill which sum A and B
withdrew in their proportion.
Give i) Journal Entries, ii) Revaluation Account, and iii) Balance Sheet of the new Firm.
10. Kishore and Nakul are partners sharing profits and losses equally. Their Balance sheet on
30th November, 1990 is as follows:
Rs. Assets Rs.
Liabilities
Creditors 11,200 Cash 3,500
Bills Payable 1,800 Stock 17,800
Kishore’s Loan 5,000 Debtors 13,800
Reserve Fund 6,000 Less: Provision 1,400 12,400
Capital Accounts: Furniture 2,800
Kishore 15,000 Plant and Machinery 22,500
Nakul 20,000 35,000
59,000 59,000
They decide to dissolve the firm. The assets realized as follows:
Stock 18,200
Debtors 10,600
Furniture 1,800
Plant and Machinery 19,000
Credit allowed a discount of 2% and expenses of realization amounted to Rs.554. Give
journal entries and the necessary ledger accounts to close the books of the firm.
11. A and B are partners in a business sharing profits and losses as A 3/5ths and B 2/5ths.
Their Balance Sheet as on 1st January 1991 is given below:
Capital: A 20,000 Machinery 19,500
B 15,000 35,000 Stock 16,000
Reserve 15,000 Debtors 15,000
Sundry Creditors 7,500 Cash at Bank 6,000
Cash in hand 1,000
. .
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ADVANCED ACCOUNTING
57,500 57,500
B decides to retire from the business owing to illness and A takes it over and the
following revolutions are made:
a) Goodwill of the firm is valued at Rs.15,000.
b) Depreciate Machinery by 7.5% and stock by 15%
c) A Bad Debts provision is raised against Debtors at 5% and a Discount Reserve
against Creditors at 2.5%.
Journalize the above transactions in the books of the firm, prepare ledger accounts and the
Balance Sheet of A.
12. (Debtors methods): A head office in Bombay has a branch in Hyderabad to which goods
are invoiced by the Head office at cost plus 25%. All cash received by the Head office.
From the following particulars show how the Branch Account will appear in the Head
office books:
Stock on 1st January, 2005 (at Invoice Price) 1,25,000
Debtors on 1st January, 2005 1,20,000
Goods invoiced from Head office 4,00,000
Remittances by Branch to Head office
Cash sales 1,60,000
Cash received from debtors 2,95,000 4,55,000
Goods returned to head office (at invoice price) 25,000
Cheques remitted to Branch:
Salaries 1,10,000
Rent & Taxes 30,000
Sundry expenses 5,000 1,45,000
st
Stock on 31 December, 2005 1,50,000
Debtors on 31st December, 2005 2,25,000
13. (Stock and Debtors method) Praveen Ltd. Has a branch at Pune. Goods were invoiced at
selling price which was fixed by adding 25% to the cost. From the following information
relating to the year 2005 ascertain the profit or loss made in the year 2005 by Stock and
Debtors system:
Rs. Rs.
Stock at invoice Cash Sales 90,000
price on 1-1-2005 20,000 Credit sales 1,85,000
Goods sent to Branch Cash remitted to Branch
during the year 2005 for expenses:
at invoice price 3,00,000 Rent 2,400
Discount allowed to Salaries 5,600
customers 5,000 General Expenses 2,000 10,000
Cash received from Goods returned
customers 1,40,000 by Customers 6,000
Stock at invoice price on Debtors on 1-1-2005 10,000
31.12.2005 50,000
There was shortage of Rs.1,000 when Branch stock was physically verified.
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ADVANCED ACCOUNTING
14. Sumana Limited invoices goods to their various Branches at cost and the Branches sell
for cash as well as on credit. From the following particulars, prepare the Branch Stock
Account, Branch Debtors Account, Goods Sent to Branch Account, Branch Cash
Account, Branch Expenses Account and Branch Profit and Loss Account in the Books of
Head Office:
Particulars Rs.
Stock on 1st January 10,000
Stock on 31st December 8,000
Debtors on 1st January 14,000
Debtors on 31st December 15,000
Cash on 1st January 400
Goods sent to Branch 30,000
Goods returned by Branch 2,000
Cash sales 30,000
Credit sales 25,000
Allowance to customers 400
Bad Debts 600
Returns from customers 1,000
Remittance by Branch 46,000
Wages and Salaries 4,000
Rent and Taxes 2,000
Normal Loss of goods due to wastage 500
Abnormal Loss due to pilferage 1,500
Cash remitted to Branch 4,500
15. Sri Vaihbava Publications Ltd. Invited applications for 10,000 shares of Rs.10 each the
details are give as follows:
On Application Rs.2, On Allotment Rs.3, On First and Final Call Rs.5. The public
applied for 10,000 shares and they were allotted.
Show the vouchers of the above transaction.
*****
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ADVANCED ACCOUNTING
PROBLEM: 1
STEP:1- ENTER INTO TALLY ACCOUNTING SOFTWARE

Double click on tally icon from the desktop.
STEP:2- CREATION OF COMPANY

Navigation: Company info menu → Create ┘
( Give Name, Address, Financial Year etc)
STEP:3- CREATION OF LEDGER

Path: Gateway of Tally → Accounts info → Ledger → Multiple Ledger → Create
S.NO NAME OF SHARE UNDER

1 Equity share capital Capital A/C
2 Equity share application Capital A/C
3 Equity share Allotment Capital A/C
4 Equity share First call Capital A/C
5 Equity share Second call Capital A/C
STEP:4- ENTERING TRANSACTIONS INTO VOUCHER

Path: Gateway of Tally → Accounting Voucher
Date Particular L.F. Debit Credit

(Receipt Voucher) i.e. F6
By. Bank/Cash A/c --------------------Dr. 2,00,000
To. Share Application A/c 2,00,000
(Journal Voucher) i.e. F7
By. Share Application A/c ------------Dr. 2,00,000
To. Equity Share Capital A/c 2,00,000
By. Share Allotment A/c --------------Dr. 3,00,000
To. Share Capital A/c 3,00,000
3,00,000
By. Bank/Cash A/c----------------------Dr
3,00,000
To. Share Allotment A/c
(Journal Voucher) i.e. F7 3,00,000
By. Share First Call A/c---------------Dr. 3,00,000
To. Share Capital A/c
By. Bank/Cash A/c --------------------Dr. 3,00,000
To. Share First call A/c 3,00,000
By. Share Final/Second Call A/c-----Dr. 2,00,000
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ADVANCED ACCOUNTING
By. Bank/Cash A/c --------------------Dr. 2,00,000
To. Share Final/Second call A/c 2,00,000
STEP:5- DISPLAY RESULT

Path: Gateway of Tally → Reports → Display → Accounts Books → Cash Books
→ Gateway of Tally → Report → Balance Sheet.
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ADVANCED ACCOUNTING
PROBLEM: 2



S.NO NAME OF LEDGER UNDER GROUP

1 Share Application A/c Share Capital A/c
2 Share Allotment A/c Share Capital A/c
3 Share First Call A/c Share Capital A/c
4 Share Final Call A/c Share Capital A/c
5 Share Capital A/c Share Capital A/c
6 Share Premium A/c Reserve and Surplus
7 Call in Arrears Share Capital A/c
Press Four times (Esc) and Accept YES to Save

Press (Esc) and Return to Gateway of Tally


By. Bank A/c---------------------------Dr. 50,000
To. Share Application A/c 50,000
[ Being share application money
received at 5000 shares @ 10 Rs/- ]
By. Share Application A/c 50,000
To. Share Capital A/c 50,000
transferred to share capital A/c ]
By. Share Allotment A/c--------------Dr. 30,000
To. Share Premium A/c
[ Being Allotment money received
including Premium ]
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ADVANCED ACCOUNTING
By. Bank A/c 3,00,000
To. Share Allotment A/c 3,00,000
including Premium ]
By. Share First Call A/c --------------Dr. 1,50,000
[ Being share First call money due ]
By. Bank 1,20,000
By. Call in Arrears A/c 30,000
To. Share First Call A/c 1,50,000
[ Being share first call money received
5000 – 1000 = 4000 @ Rs. 30 shares ]
2,00,000
By. Share Final Call A/c
2,00,000
To. Share capital A/c
[ Being share final call money due ]
By. Bank A/c --------------------------Dr. 1,40,000
By. Call in Arrears A/c --------------Dr. 60,000
To. Share First Call A/c 2,00,000
[ Being share final call money received
5000 – 1500 = 3500 shares @ 40 Rs. ]

→ Gateway of Tally → Report → Balance Sheet.
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ADVANCED ACCOUNTING
PROBLEM: 3




1 Equity Share Application A/c Equity Share Capital A/c
2 Equity Share Allotment A/c Equity Share Capital A/c
3 Equity Share First Call A/c Equity Share Capital A/c
4 Equity Share Capital A/c Equity Share Capital A/c
5 Call in Arrears A/c Equity Share Capital A/c
6 Forfeited shares A/c Equity Share Capital A/c
7 Capital Reserve A/c Reserve and Surplus
8 Share Premium A/c Reserve and Surplus



By. Bank A/c---------------------------Dr. 50,000
received at 5000 shares @ 10 Rs/- ]
transferred to share capital A/c ]
By. Share Allotment A/c--------------Dr. 30,000
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ADVANCED ACCOUNTING
including Premium ]
By. Bank A/c 40,05,000
To. Equity Share Allotment A/c 40,05,000
[ Being Equity Allotment money
received ]
By. Equity Share First Call A/c -----Dr. 40,05,000
To. Equity Share Capital A/c 40,05,000
40,05,000
By. Equity Share Allotment A/c
22,50,000
To. Equity share capital A/c
18,00,000
[ Being amount due towards allotment
including Premium ]
By. Bank A/c 40,50,000
To. Equity Share Allotment A/c
[ Being allotment money received ]
By. Equity share First/ Final call A/c 27,00,000
To. Equity share capital A/c 27,00,000
[ Being the amount due towards calls ]
By. Bank A/c 26,70,000
By. Calls in Arrears A/c 30,000
To. Equity share first/final call A/c 27,00,000
[ Being first/final call money received
except on 1000 shares]
By. Equity share capital A/c 1,00,000
To. Equity share first/call A/c 30,000
To. Share Forfeited A/c 70,000
[ Being the forfeited of 1000 shares on
which first/final call money was not
received ]
By. Bank A/c 60,000
By. Share forfeited A/c 40,000
To. Equity share capital A/c 1,00,000
[ Being the reissue of forfeited shares
issued @ Rs. 60 per share ]
By. Share forfeited A/c
30,000
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ADVANCED ACCOUNTING
To. Capital Reserve A/c 30,000
[ Being Balance of share forfeited A/c
Transferred to capital reserve A/c ]

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ADVANCED ACCOUNTING
PROBLEM: 4




1 Debenture A/c Secured loans
2 Debenture Application A/c Secured loans
3 Debenture Allotment A/c Secured loans
4 Debenture First Call A/c Secured loans
5 Debenture Last Call A/c Secured loans
6 Debenture Call in Arrears A/c Reserve and Surplus
7 Debenture Call in advance A/c Current liabilities
8 Bank A/c Bank A/c



By. Bank A/c 3,00,000
To. Debenture Application 3,00,000
By. Debenture Application A/c 3,00,000
To. Debenture A/c 3,00,000
By. Debenture Allotment A/c 4,00,000
By. Bank A/c
4,04,000
To. Debenture Allotment A/c
3,92,000
To. Debenture Call in Advance A/c
2,000
By. Debenture first call A/c 2,00,000
To. Debenture A/c
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ADVANCED ACCOUNTING
By. Debenture Call in advance A/c
To. Debenture first call A/c 8,000
(Receipt Voucher) i.e. F6 8,000
By. Bank A/c
To. Debenture Allotment A/c 2,00,000
To. Debenture first call A/c 8,000
By. Debenture Second Call A/c
1,00,000
By. Debenture Call in a advance A/c
4,000
By. Bank A/c
96,000
To. Debenture second call A/c
1,00,000

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ADVANCED ACCOUNTING
PROBLEM: 5


STEP:3CREATION OF GROUP:
Path: Gateway of Tally → Accounts info → Group → Single Group → Create
S.NO NAME OF GROUP UNDER GROUP

1 Profit & Loss Appropriation A/c Reserve and Surplus
STEP:4 CREATION OF LEDGER


1 Debenture Secured Loans
2 Profit & Loss Appropriation P & L Appropriation
3 Bank A/c Bank A/c
4 Sinking fund A/c Reserve and Surplus
5 Sinking fund Investment Investment
6 Interest on sinking fund investment Indirect income



By. Bank A/c 1,00,000
By. P & L Appropriation A/c 18,098
To. Sinking fund investment A/c 18,098
(Payment Voucher) i.e. F5
By. Sinking fund investment A/c 18,100
To. Bank A/c 18,100
By. Bank A/c
905
To. Interest on sinking fund investment A/c
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ADVANCED ACCOUNTING
To. Debenture Call in Advance A/c 905
By. Interest on sinking fund investment A/c
To. Sinking fund A/c 905
(Journal Voucher) i.e. F7 905
By. P & L Appropriation A/c
To. Sinking fund A/c 18,095
18,095
By. Sinking fund investment A/c
19,000
To. Bank A/c
19,000
By. Bank A/c
To. Investment Sinking fund investment A/c 1,855
(Journal Voucher) i.e. F7 1,855
By. Investment Sinking fund investment A/c
By. Profit & Loss Appropriation A/c
(Payment Voucher) i.e. F5 18,098
To. Bank A/c 20,000
( Receipt Voucher) i.e. F6 20,000
By. Bank A/c
To. Interest on sinking land investment A/c 2,855
By. Interest on sinking land investment A/c
2,855
To. Bank A/c
21,000
By. Bank A/c
To. Interest on sinking fund investment A/c 3,905
By. P & L Appropriation A/c
By. Bank A/c
To. Sinking fund investment A/c 77,800
[ Being amount realised on sale of investment 77,800
78,100-300=77,800 ]
By. Investment Sinking fund investment A/c
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ADVANCED ACCOUNTING
By. Sinking fund A/c
To. Sinking fund investment A/c 300
(Payment Voucher) i.e. F5 300
By. Debenture A/c
To. Bank A/c 1,00,000
1,00,000
By. Sinking fund A/c
99,710
To. General Reserve A/c
99,710

PROBLEM: 6
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ADVANCED ACCOUNTING



1 Revaluation A/c Reserve and Surplus
2 Current A/c Capital A/c

S.NO NAME OF LEDGER UNDER GROUP OPEMOMG BALANCE

1 Creditor S. Creditor 3,000 Cr.
2 A’s Capital Capital A/c 13,500 Cr.
3 Debtors S. Debtors 4,000 Dr.
4 Stock Current Assets 5,000 Dr.
5 Furniture Fixed Assets 750 Dr.
6 Premises Fixed Assets 6,000 Dr.
7 Investment Investment 250 Dr.
8 Bad debts S. Debtors -
9 Revaluation Revaluation -
10 A’s Current Current -

STEP: 5- GOTO ALTER AND ENTER
S.NO NAME OF LEDGER UNDER GROUP OPENING BALANCE

11 Cash Cash-in-hand 500 Dr.
STEP: 6- ENTERING TRANSACTIONS INTO VOUCHER


By. Bad Debts A/c 200
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ADVANCED ACCOUNTING
To. Debtors A/c 200
By. Revaluation A/c 200
To. Bad Debts A/c 200
To. Stock A/c 500
250
By. Revaluation A/c
250
To. Furniture A/c
By. Premises A/c 1,000
To. Revaluation A/c 1,000
To. A’s Current A/c 50
STEP:7- DISPLAY RECALUATION A/c, BALANCE SHEET

Path: Accounts info → Display → Accounts Book → Ledgers → Revaluation A/c
Gateway of Tally → Balance sheet.
PROBLEM: 7
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ADVANCED ACCOUNTING



2 Good Will A/c Current Assets


1 A’s Capital A/c Capital A/c 20,000 Cr.
2 B’s Capital A/c Capital A/c 15,000 Cr.
3 C’s Capital A/c Capital A/c -
4 A’s Current A/c Current A/c -
5 B’s Current A/c Current A/c -
6 C’s Current A/c Current A/c -
7 Good Will Good Will -
8 Cash Cash-in-hand 35,000



By. C’s Capital A/c 20,000
To. Cash A/c 20,000
By. Goodwill A/c 15,000
To. A’s Current A/c 9,000
To. B’s Current A/c 6,000
By. A’s Current A/c 500
By. B’s Current A/c 6,000
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ADVANCED ACCOUNTING
By. C’s Current A/c 4,000
To. Goodwill A/c 5,000
15,000

Path: Gateway of Tally → Display → Accounts Book → Ledgers → Goodwill A/c
PROBLEM: 8
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ADVANCED ACCOUNTING
STEP: 1- ENTER INTO TALLY ACCOUNTING SOFTWARE

STEP: 2- CREATION OF COMPANY

(Give Name, Address, Financial Year etc)
STEP: 3 CREATION OF GROUP:


3 Reserve Fund A/c Reserve & Surplus


3 C’s Capital A/c Capital A/c -
4 Goodwill Good Will 2,500 Dr.
5 Assets Fixed Assets 17,500 Dr.
7 B’s Current A/c Current A/c -
8 C’s Current A/c Current A/c -
9 Reserve Fund Reserve Fund 4,000
Press four times (Esc) and Accept YES to Save



By. C’s Capital A/c 8,000
To. Cash A/c 8,000
By. Cash A/c 2,000
To. Goodwill A/c 2,000
By. Goodwill A/c
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ADVANCED ACCOUNTING
By. Reserve Fund A/c
1,600

Path: Gateway of Tally → Reports → Balance Sheet.
PROBLEM: 9
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ADVANCED ACCOUNTING


STEP: 3 CREATION OF GROUP:

Path: Gateway of Tally → Accounts info → Group → Multiple Group → Create

3 Reserve Fund A/c Reserve & Surplus


3 S. Creditors S. Creditors -
4 Reserve Reserve Fund 2,500 Dr.
5 Machinery Fixed Assets 17,500 Dr.
6 Stock Current Assets -
7 Debtors S. Debtors -
9 B’s Current A/c Current A/c 4,000
10 Goodwill Goodwill -
11 Bad Debts S. Debtors -
12 Discount Reserve on Creditors S. Creditors -
13 B’s Loan A/c Loan & Advances -
14 Bank Bank A/c 6,000 Dr.

STEP: 5- GOTO ALTER AND ENTER
S.NO NAME OF LEDGER UNDER GROUP OPENING BALANCE

11 Cash Cash-in-hand 1,000 Dr.
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ADVANCED ACCOUNTING

By. Goodwill A/c 15,000
To. A’s Capital A/c 9,000
To. B’s Capital A/c 6,000
By. Revaluation A/c 1,462.5
To. Machinery A/c 1,462.5
By. (stock) Revaluation A/c 2,400
To. Stock A/c 2,400
750
By. Bad Debts A/c
750
To. Debtors A/c
750
To. Bad Debts
By. S. Creditors A/c 187.5
To. R. Discount Creditors A/c 187.5
By. R. Discount Creditors A/c 187.5
To. Revaluation A/c 187.5
By. A’s Capital A/c 2,655
By. B’s Capital A/c 1,770
To. Revaluation A/c 4,425
By. B,s Capital A/c 25,230
To. B’s Loan A/c 25,230
By. Reserve Fund A/c
To. A’s Capital A/c 15,000
To. B’s Capital A/c 9,000
6,000

Path: Gateway of Tally → Reports → Balance Sheet.
PROBLEM: 10
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ADVANCED ACCOUNTING




1 S. Creditor S. Creditors 11,200
2 Bills Payable Current Liability 1,800
3 Kishore Loan - 5,000
4 Reserve Fund Reserve 6,000
5 Kishore Capital Capital 15,000
6 Nakul Capital Capital 20,000
7 Cash Cash-in-hand 3,500
8 Stock Current Assets 17,800
9 Debtors S. Debtors 12,400
10 Furniture Fixed Assets 22,500
11 Realization A/c Suspense A/c -
12 Provision for doubtful debts S. Debtors -



By. Realization A/c 56,900
To. Stock A/c 17,800
To. Debtor A/c 13,800
To. Furniture A/c 2,800
To. Plant & Machinery A/c 22,500
By. Creditors 11,200
By. Bills Payable 1,800
By. Provision for doubtful debts 1,400
To.. Revaluation A/c 14,400
By. Reserve Fund 6,000
3,000
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ADVANCED ACCOUNTING
To. Kishore Capital A/c 3,000
To. Nakul Capital A/c
By. Cash 49,600
To.. Revaluation A/c
By. Realization A/c 12,776
To. Cash A/c
544
544
By. Realization A/c
To. Cash A/c
3,110
By. Kishore Capital A/c 6,220
By. Nakul Capital A/c
To.. Revaluation A/c
By. Kishore Loan A/c 5,000
To. Cash A/c
By. Kishore Capital A/c 19,890
By. Nakul Capital A/c 34,870
To. Cash A/c

Path: Gateway of Tally → Display → Account Books → Cash Book.
Gateway of Tally → Reports → Balance Sheet.
PROBLEM: 11
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ADVANCED ACCOUNTING




1 Branch Stock A/c Current Assets 10,000
2 Branch Debtor A/c S. Debtors 14,000
3 Branch P & L A/c Indirect Income -
4 Branch Cash A/c Cash-in-hand 400
5 Goods sent to branch Current Assets -
6 Sales Sales A/c -
7 Sales Return Sales A/c -
8 Bank A/c Bank A/c -
9 Branch Expenses Indirect Expenses -



By. Branch Expenses A/c 6,000
To. Branch Cash A/c 6,000
By. Branch P & L A/c 2,000
To. Branch Stock A/c 2,000
(Contra Voucher) i.e. F4
By. Cash A/c 4,500
To. Bank A/c 4,500
22,000
By. Branch Cash A/c
22,000
To. Branch Debtors A/c
To. P & L A/c 7,000
1
--------------------------------------------------------------------------------------------- --------
ADVANCED ACCOUNTING
To. P & L A/c 18,000
By. Branch stock A/c 30,000
To. Goods sent to branch A/c 30,000
By. Goods sent to branch A/c 2,000
To. Branch stock A/c 2,000
30,000
By. Branch Cash A/c
30,000
To. Sales A/c
By. Branch Debtors A/c 25,000
To. Sales A/c
To. Branch A/c 1,000
By. Branch stock A/c 1,000
To. Branch Debtors A/c 1,000
(Contra Voucher) i.e. F4
By. Bank A/c 46,000
To. Cash A/c 46,000

PROBLEM: 12
1
--------------------------------------------------------------------------------------------- --------
ADVANCED ACCOUNTING



1 Branch Stock A/c Current Assets 1,25,000
2 Goods sent to branch A/c Current Assets 1,20,000
3 Cash A/c Cash-in-hand -
5 Branch A/c S. Debtors -
6 Stock Reserve A/c Indirect Income -
7 P & L A/c Indirect Income -



By. Hyderabad Branch A/c 4,00,000
To. Goods sent to branch A/c 4,00,000
By. Bank A/c 4,55,000
To. Hyderabad Branch A/c 4,55,000
To. Hyderabad A/c 25,000
1,45000
By. Goods sent to branch A/c
1,45,000
To. Bank A/c
By. Stock Reserve A/c 25,000
To. Hyderabad A/c 25,000
By. Hyderabad Stock A/c 30,000
To. Stock Reserve A/c 30,000
1
--------------------------------------------------------------------------------------------- --------
ADVANCED ACCOUNTING
To. Hyderabad Branch A/c 75,000
By. Hyderabad Branch A/c 13,500
To. P & L A/c 13,500

PROBLEM: 13
1
--------------------------------------------------------------------------------------------- --------
ADVANCED ACCOUNTING



1 Branch Stock A/c Current Assets 20,000
2 Branch Debtor A/c S. Debtors 10,000
3 Branch Expense A/c Indirect Expenses -
4 Branch Adjustment A/c Indirect Expenses -
5 Branch P & L A/c Indirect Expenses -
7 Goods sent to branch A/c Indirect Expenses -
8 Discount allowed A/c Indirect Expenses -
9 Rent A/c Indirect Expenses -
10 Salaries A/c Indirect Expenses -
11 General Expenses A/c Indirect Expenses -
12 Stock Reserve A/c Reserve & Surplus -



By. Branch Stock A/c 3,00,000
To. Goods sent to branch A/c 3,00,000
By. Branch Stock A/c 6,000
To. Branch Debtors A/c 6,000
By. Bank A/c 90,000
To. Branch Stock A/c 90,000
1,85,000
By. Branch Debtors A/c
1,85,000
To. Branch Stock A/c
By. Branch Adjustment A/c 200
1
--------------------------------------------------------------------------------------------- --------
ADVANCED ACCOUNTING
To. Branch Stock A/c 200
By. Branch P & L A/c 800
To. Branch A/c 800
By. Bank A/c 1,40,000
To. Branch Debtor A/c 1,40,000
5,000
By. Discount A/c
5,000
To. Branch A/c
By. Rent A/c 5,600
By. Salaries A/c 2,000
By. General Expenses A/c 10,000
To. Bank A/c
To. Branch Expenses A/c 15,000
To. Rent A/c 2,400
To. Salaries A/c 5,600
To. General Expenses A/c 2,000
To. Discount A/c 5,000
By. Branch Adjustment A/c 10,000
To. Stock Reserve A/c 10,000
To. Branch Adjustment A/c 60,000
By. Branch Adjustment A/c
To. Branch P & L A/c 53,800
53,800

PROBLEM: 14
1
--------------------------------------------------------------------------------------------- --------
ADVANCED ACCOUNTING


2 Good Will A/c Current A/c
3 Revaluation A/c Reserve and Surplus

1 S. Creditor S. Creditor 1000 Cr.
2 Bills Payable Current Liabilities 1000 Cr.
3 Reserve Fund Reserve & Surplus 400 Cr.
4 A’s Capital Capital 1,500 Cr.
5 B’s Capital Capital 1,000 Cr.
6 C’s Capital Capital 1,500 Cr.
7 Debtors S. Debtors 1,400 Dr.
8 Stock Current Assets 400 Dr
9 Furniture Fixed Assets 1,000 Dr.
10 Machinery Fixed Assets -
11 Doubtful Debts S. Debtors -
12 Investment Investment -
13 Good Will Good Will -
14 A’s Current Current -
15 B’s Current Current -
16 C’s Current Current -
17 Revaluation Revaluation -



1
--------------------------------------------------------------------------------------------- --------
ADVANCED ACCOUNTING
To. Furniture A/c 250
By. Doubtful Debtors A/c 300
To. Debtors A/c 300
By. Investment A/c 400
To. Revaluation A/c 400
300
By. Revaluation A/c
300
To. Doubtful Debtors A/c
By. Cash A/c 1,000
To. C’s Capital A/c
By. Good Will A/c 1,000
To. A’s A/c 500
To. B’s A/c 500
( Journal Voucher) i.e. F7
By. A’s Current A/c 75
By. B’s Current A/c 75
To. Revaluation A/c 150

PROBLEM: 15
1
--------------------------------------------------------------------------------------------- --------
ADVANCED ACCOUNTING



1 Share Capital Capital
2 Share Application Capital
3 Share Allotment Capital
4 Share First/ Last call Capital



By. Bank A/c 20,000
By. Share Allotment A/c 30,000
30,000
By. Bank A/c
30,000
To. Share Allotment A/c
By. Share First/ Last call A/c 50,000
To. Share Capital A/c
By. Bank A/c 50,000
To. Share First/ Last call A/c 50,000

1
--------------------------------------------------------------------------------------------- --------
ADVANCED ACCOUNTING
KNOWLEDG IS POWER
1

Advanced Accounting: Computer Lab - Practical

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Computer Lab - Practical

6. The following is the Balance Sheet on 31st March 1992 of Mr. A.

Rs. Assets Rs.

i) 5% reserve for bad debts is to be provided on Debtors,

7. A & B shared in proportions of 3 and 2 with capitals of Rs.20,000 and Rs.15,000

STEP:1- ENTER INTO TALLY ACCOUNTING SOFTWARE

STEP:2- CREATION OF COMPANY

STEP:3- CREATION OF LEDGER

S.NO NAME OF SHARE UNDER

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER

Date Particular L.F. Debit Credit

STEP:5- DISPLAY RESULT

STEP:1- ENTER INTO TALLY ACCOUNTING SOFTWARE

STEP:2- CREATION OF COMPANY

STEP:3- CREATION OF LEDGER

S.NO NAME OF LEDGER UNDER GROUP

Press Four times (Esc) and Accept YES to Save

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER

Date Particular L.F. Debit Credit

STEP:5- DISPLAY RESULT

STEP:1- ENTER INTO TALLY ACCOUNTING SOFTWARE

STEP:2- CREATION OF COMPANY

STEP:3- CREATION OF LEDGER

S.NO NAME OF LEDGER UNDER GROUP

Press Four times (Esc) and Accept YES to Save

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER

Date Particular L.F. Debit Credit

STEP:5- DISPLAY RESULT

STEP:1- ENTER INTO TALLY ACCOUNTING SOFTWARE

STEP:2- CREATION OF COMPANY

STEP:3- CREATION OF LEDGER

S.NO NAME OF LEDGER UNDER GROUP

Press Four times (Esc) and Accept YES to Save

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER

Date Particular L.F. Debit Credit

STEP:5- DISPLAY RESULT

STEP:1- ENTER INTO TALLY ACCOUNTING SOFTWARE

STEP:2- CREATION OF COMPANY

S.NO NAME OF GROUP UNDER GROUP

STEP:4 CREATION OF LEDGER

S.NO NAME OF LEDGER UNDER GROUP

Press Four times (Esc) and Accept YES to Save

STEP:5- ENTERING TRANSACTIONS INTO VOUCHER

Date Particular L.F. Debit Credit

STEP:5- DISPLAY RESULT

STEP:1- ENTER INTO TALLY ACCOUNTING SOFTWARE

STEP:2- CREATION OF COMPANY

S.NO NAME OF GROUP UNDER GROUP

STEP:4 CREATION OF LEDGER

S.NO NAME OF LEDGER UNDER GROUP OPEMOMG BALANCE

Press Four times (Esc) and Accept YES to Save

STEP: 5- GOTO ALTER AND ENTER

S.NO NAME OF LEDGER UNDER GROUP OPENING BALANCE

STEP: 6- ENTERING TRANSACTIONS INTO VOUCHER

Date Particular L.F. Debit Credit

STEP:7- DISPLAY RECALUATION A/c, BALANCE SHEET

STEP:1- ENTER INTO TALLY ACCOUNTING SOFTWARE

STEP:2- CREATION OF COMPANY

S.NO NAME OF GROUP UNDER GROUP

STEP:4 CREATION OF LEDGER

S.NO NAME OF LEDGER UNDER GROUP OPEMOMG BALANCE

Press Four times (Esc) and Accept YES to Save

STEP:5- ENTERING TRANSACTIONS INTO VOUCHER