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Computer Lab - Practical

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ADVANCED ACCOUNTING
GROUP WISE DIVISION FOR PRACTICALS.

GROUP DIVISION: - It is made on the basis of last digit of your Hall ticket number.

Hall ticket No. ENDING:- 1&6- group 1

2&7- group 2

3&8- group 3

4 & 9 - group 4

5 & 0 - group 5

PROBLEMS FOR EACH GROUP:-


GROUP 1 GROUP 2 GROUP 3 GROUP 4 GROUP 5
1 4 1 5 1
2 5 3 9 3
3 7 8 10 8
6 17 9 13 13
8 20 11 15 14
10 21 12 17 16
16 22 14 20 18
18 25 16 21 19
19 26 19 27 22
24 27 24 31 23
25 31 26 34 24
28 34 28 35 28
32 35 30 42 43
44 42 47 44 46
50 43 50 48 50

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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. Also show the relevant items in the Balance
Sheet by using any Accounting Software.

2. Raju Ltd was floated with an authorized capital consisting of. Rs. 20,000 9% preference
shares of Rs.100 each, payable Rs.25 per share on application, Rs.25 per share on
allotment and Rs.50 per share on first and final call and Rs.3,00,000 equity shares of
Rs.10 each, payable Rs.2 per share on application, Rs.3 per share on allotment and Rs.5
per share first and final calls. All the money received.
Make the necessary entries in journal and the Balance sheet of the company by using any
accounting software.

3. Rao & Company Ltd., issued 5000 equity share 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 by using any accounting
software.

4. Varun Ltd. invited application for 1,00,000 shares of Rs.100 each at a discount of 6%
payable as follows:
On application Rs.25, on allotment Rs.34 and on first and final call 35.
The applications received were for 90,000 shares and all of these were accepted. All
money due was received except the first and final call on 1,000 shares.
Pass necessary entries in journal of the company also show how these transactions would
appear in Balance sheet of the company, by using any accounting software.

5. 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, by using any accounting software.

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6. The Sudhakar Ltd. purchases assets of Rs.3,50,000 and took over the liabilities of
Rs.30,000, it agreed to pay the purchase price, Rs.3,30,000 by issuing debentures of
Rs.100 each at a premium of 10%.
Give journal entries in the books of Sudhakar Ltd., by using accounting software.

7. On July 1, 1997 Motor Ltd., issued 10,000 6% Debentures of Rs.10 each at 95%,
repayable on June 30, 2007 at par. Rs.6 per debenture was payable on application and the
balance on allotment. Interest was payable on the full nominal amount as from September
1, 1997.
Applications were received for 15,000 debentures. All allotments were made
proportionately, over subscriptions being applied to the balance due on allotment, which
took place on August 31, 1997. All sums due on allotment were received by September
14, 1997.
Assuming that the discount is to be written off evenly over the whole period, you are
required to draft journal entries to record (a) the issue of debentures, and (b) The charges
to the Profit and Loss Account for the year ended June 30, 1998 by using an accounting
software.

8. 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, by using any accounting software.

9. The Radha Ltd. purchases assets Rs.3,60,000 and took over the liabilities of Rs.35,000. It
agreed to pay the purchase price, Rs.3,34,950 by issuing debentures of Rs.100 each at a
premium of 10% and Rs.65 by cash. The debentures of the same company are quoted in
the market at Rs.130.
Give journal entries in the books of Radha Ltd., by using accounting software.

10. The Ashoka Ltd. purchases assets Rs.3,80,000 and took over the liabilities of Rs.30,000
at an agreed value of Rs.3,33,000. The company issued debentures at 10% discount in
full satisfaction of the purchase price.
Give journal entries in the books of Ashoka Ltd., by using accounting software.
11. Journalize the following transactions at the time of issue and redemption of debentures:
in the books of Venkat Ltd., by using any accounting software.
a) A debenture issued at Rs.95, repayable at Rs.100
b) A debenture issued at Rs.95, repayable at Rs.105
c) A debenture issued at Rs.100, repayable at Rs.105
d) A debenture issued at Rs.105, repayable at Rs.100
Note: The Face value of each debenture is Rs.100

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12. Krishna Ltd. on 31st December, 1996 redeemed Rs.10,000 6% debentures out of capital
by drawing a lot. Similarly, the company on 31st December, 1997 redeemed Rs.15,000
6% debentures out of profits by drawing a lot.
You are required to pass journal entries in the books of the company, by using any
accounting software.

13. On 1st January, 1997, a company issued Rs.20,00,000 14% Debentures at 5% discount
repayable in five years at par. The company reserved the right to redeem to the extent of
Rs.2,00,000 in any year by purchase in the open market. The interest was payable half
yearly on 30th June and 31st Dec. and same was duly paid.
On 31st Dec., 1997 the company purchased Rs.2,00,000 debentures at a cost of
Rs.1,91,000.
Pass necessary journal entries in the books of the company up to 31st Dec., 1997
including closing entries on that date if the above redemption was out of profit. Write
necessary entries by using any accounting software.

14. On 1st April, 1994, Madhu Ltd. issued 1,000 6% debentures of Rs.1,000 each at Rs.950.
Terms of issue provided that beginning with 31st Mar, 1997 Rs.50,000 of debentures
should be redeemed either by drawings at par or by purchase in the market every year.
The expenses of the issue amounted to Rs.3,000 which were written off on 31st March,
1995. The company write off Rs.10,000 from the Discount on Debentures every year. On
31st March, 1997 the debentures to be redeemed were repaid at the end of the year by
drawings. On 31st March, 1998 the company purchased for cancellation 50 debentures at
the ruling price of Rs. 980, the expenses being Rs.1000. Interest is payable yearly. Ignore
income-tax.
Give Journal entries to record the above transaction, by using any accounting software.

15. On July 1, 1997, ATTA Ltd. give notice of its intention to redeem its outstanding Rs.
4,00,000 11% Debenture Stock on January 1, 1998 at 102 per cent and offered the
holders with the following option:

1) To apply the redemption money to subscribe for


a) 12 % Cumulative Preference Shares of 20 each at Rs.22.50 per share accepted by
the holders of Rs.1,71,00,000 stock
b) 12% Debenture Stock of 96% accepted by the holders of Rs.1,44,00,000 stock.
2) To have their holdings redeemed for cash if neither of the options under (1) was
accepted.

You are required show the journal entries necessary to record the redemption and
allotments under (1) and (2), by using any accounting software.

16. 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.

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ADVANCED ACCOUNTING
Give Journal Entries for 5 years, by using any accounting software, 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.

17. 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
by using any accounting software.

18. The Balance sheet of MN is given as follows:


Particulars Rs. Particulars Rs.
M Capital a/c 30,000 Cash 10,000
N Capital a/c 20,000 Debtors 20,000
Bank Loan 10,000 Furniture 10,000
Sundry Creditors 20,000 Machinery 40,000
80,000 80,000
The partners want to dissolve the firm.
Machinery realized only 50% of the book value. There are bad debts to the extent of
Rs.5,000.
Pass the Journal entries and prepare realization and capital accounts of M and N, by using
any accounting software.

19. 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

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ADVANCED ACCOUNTING
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 and the goodwill
account, by using any accounting software. State the future profit sharing proportion of
the partners.

20. 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, by using any accounting
software.
.
21. 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,
by using any accounting software.

22. A & B are Partners in a firm sharing profits and losses as 5 : 3. The position of the firm as
on 31st March, 1992 was as follows:
Rs. Rs.
Capital Accounts: Plant and Machinery 40,000
A 30,000 Stock 30,000
B 20,000 50,000 Sundry Debtors 20,000
Sundry Creditors 15,000 Bills receivable 10,000
Bank Overdraft 42,500 Cash at Bank 7,500
4,900 4,900

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ADVANCED ACCOUNTING
C now joins them on condition that he will share ¾th of the future profits, the balance of
profits being shared by A and B as 5 : 3. He introduces Rs. 40,000 by way of capital and
further Rs. 4,000 by way of premium for goodwill. He also provides loans to the firm to
pay off bank overdraft. A and B to depreciate Plant by 10% and to raise a premium for
Doubtful Debts against sundry debtors @5%.
You are asked to journalize the entries in the books of the firm and show the resultant
Balance sheet by using Accounting Software.

23. The following is the balance sheet of A and B as at 31st December, 1989.
Rs. Rs.
Creditors 20,000 Cash at Bank 10,000
Capital: Sundry Assets 20,000
A 25,000
B 20,000 .
65,000 65,000

The Partners shared profits and losses in the ratio of 3 : 2. On the above date C was
admitted as a Partner on the condition that he would pay Rs.20,000 as capital. Goodwill
was to be valued at 3 year’s purchase of the average of four year’s profits which were:
1986 Rs. 9,000 1988 Rs. 12,000
1987 Rs. 14,000 1989 Rs. 13,000
The new profit sharing ratio is 7 : 5 : 4.
Give journal entries, ledger accounts and Balance Sheets if goodwill is raised and written
off, by using accounting software.

24. Pratap had the following balance sheet as on 1st July:


Liabilities and Capital Rs. Assets and Property Rs.
Sundry Creditors 2,500 Cash in hand 400
Bills payable 1,000 Cash at bank 13,600
Outstanding Expenses 500 Sundry Debtors 29,000
Pratap’s Capital 1,00,000 Stock in Trade 17,000
Investments 11,000
Furniture 1,000
Motor Lorry 9,500
Plant and Machinery 13,400
. Land and Buildings 9,100
1,04,000 1,04,000
Pratap decided to admit Shiva as his working partner and the following terms were
agreed upon between them:
a) Shiva would bring Rs.10,000 as his Capital, and pay Rs.8,000 as premium for one-
fifth share in the business.
b) The assets should be revalued as follows:
Stock less 10 percent investments at Rs.10,000, furniture, motor lorry, plant and
machinery less 5% and Land and – Buildings at Rs.15,000.
c) A provision for doubtful debts to be created at 5% of sundry debtors.

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Assuming that the above agreement was duly carried out, show the necessary journal
entries to record the above adjustment and prepare the balance sheet of the firm after the
admission of Shiva, by using any accounting software.

25. A, B and C are partners sharing profit and losses in the ratio of 3 : 2 : 1. C retires from the
firm and A and B decide to continue the business of the firm and share profits and losses
in the ratio of 5 : 3. Goodwill of the firm is valued at Rs.12,000.
If goodwill is raised at full value and its value is written back to the capital accounts of
the continuing partners.
Write the necessary journal entries and ledger accounts by using any accounting
software.

26. A, B and C are three partners sharing profit and losses in the ratio of 4 : 3 :2. B retires and
the goodwill of the firm is valued at Rs.5400. No goodwill appears as yet in the books of
the firm. A and C decide to share profits in the future in ratio of 5 : 3 and that no goodwill
account will be raised in the books of the firm. Pass Journal entries, by using any
accounting software.

27. A, B and C are equal partners. B retires, his share of goodwill is Rs.9,000. The remaining
partners have decided to continue the business sharing profit in the ratio of 3 : 2. Goodwill
is not to be shown in the Balance Sheet.
Pass Journal Entries, by using any accounting software.

. 28. 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
. .
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, by using any accounting software.

29. Basu and Das are Partners sharing profits and losses equally. On 30th June 1990 their
Balance Sheet was as under:
BALANCE SHEET
Rs. Rs.

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ADVANCED ACCOUNTING
Sundry Creditors 39,800 Freehold: Premises 26,000
Capitals: Machinery 42,000
Basu 45,000 Stock 12,000
Das 36,000 Sundry Debtors 38,000
. Bank Balance 2,800
1,20,800 1,20,800
th
It is agreed that Basu will retire as from 30 June 1990 and that Das will take over the
business on the following terms:
a) Goodwill of the firm to be valued at Rs.11,000.
b) Stock to be agreed as worth Rs.10,000.
c) A Provision for doubtful debts to be carried at 2 percent.
d) Basu to be paid out as to Rs.20,000 of the amount found to be due to him by a loan
taken at 9 percent and as to the balance by a bill of exchange payable after 12 months.
Show journal entries to record the above transactions and also the Balance Sheet of Das
after the adjustments have been made, by using any accounting software.

30. A, B and C were carrying on business in partnership, sharing profits and losses in the
ratio of 3 : 2 : 1 respectively. On 31st December, 1990 Balance Sheet of the firm stood as
follows:
Rs. Assets Rs.
Liabilities
Sundry Creditors 13,590 Cash 5,900
Capital Accounts: Debtors 8,000
A 15,000 Stock 11,690
B 10,000 Buildings 23,000
C 10,000 35,000
48,590 48,590
B retired on the above mentioned data and the following terms:
i) Buildings be appreciated by Rs.7,000, ii) Provision for bad debts be made @5% on
Debtors. iii) Goodwill of the firm be valued, at Rs.9,000 and adjustment in this respect be
made without raising Goodwill Account, iv) Rs.5,000 be paid to B immediately and the
balance due to him be treated as a loan carrying interest @6%. Per annum. A and C
decided to share-profits. In the ratio of 2 : 1.
Pass Journal entries to record the above mentioned transactions, and the balance sheet of
the firm as it would appear immediately after B’s retirement, by using any accounting
software.
.
31. Kishore and Nakul are partners sharing profits and losses equally. Their Balance sheet on
30th November, 1990 is as follows:

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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, by using
any accounting software.

32. The Balance Sheet of A, B and C sharing profits and losses as 3 : 2 : 1 respectively stood
as follows on 30th June, 1990 (figures are in Rs.):
Creditors 50,400 Cash at Bank 3,700
Joint Life Policy Reserve 10,000 Stock 20,100
Reserve Fund 12,000 Debtors 62,600
Capital Accounts: Investments 16,000
A 30,000 Furniture 6,500
B 20,000 Buildings 23,500
C 10,000 60,000 .
1,32,400 1,32,400
The firm was dissolved as on that date. For the purpose of dissolution, the investments
were valued at Rs.18,000 and stock at Rs.17,500. A agreed to take over the investments
and B to takeover the stock. C took over the furniture at book value. Debtors and
Building realized Rs.57,000 and Rs.25,000 respectively. Expenses of realization
amounted to Rs.450. in addition one bill for Rs.500 under discount was dishonored and
had to be taken up by the firm.
Give journal entries and the necessary ledger accounts to close the books of the firm, by
using any accounting software.

33. A, B are Partners in a business. Sharing profit and losses in ration of 3 : 2.


Particulars Amount Rs. Amount Rs.
Capital: A 65,000
B 40,000
Drawings: A 4,000
B 3,000
Goodwill 40,000

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Sales 1,60,000
Debit, Credit 40,500 2,500
Returns 1,500
B/p 8,900
Furniture 5,000
Purchases 85,000
Rent 4,250
Advertisement 9,000
Op. stock 11,500
Cash 16,000
Wages 14,000
Salaries 12,750
Printing 740
Commission 7,000
Carriage 5,800
Building 20,860
Plant 10,000 .
2,90,000 2,90,000
Additional Information:
1) Depreciation on furniture Rs.250, Plant 10%, Building 20%
2) Provision for doubtful debts 5%.
3) Interest on capital 5%.
4) B salary Rs.1,800 payable.
5) Closing Stock 12,500.
Prepare final accounts the firm, by using any accounting software.

34. (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, by using any accounting software:
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
Stock on 31st December, 2005 1,50,000
st
Debtors on 31 December, 2005 2,25,000

35. (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

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relating to the year 2005 ascertain the profit or loss made in the year 2005 by Stock and
Debtors system, by using any accounting software: 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.

36. (Admission): Azib and Omar are partners sharing profits in the ratio of 2 :1. Their
Balance Sheet on 1st April 2009 is as under:
Liabilities Rs. Assets Rs.
Creditors 2,50,000 Cash at Bank 1,50,000
General Reserve 1,50,000 Stock & Debtors 1,50,000
Capitals: Furniture 1,00,000
Azib 4,00,000 Land and Building 6,00,000
Omar 2,00,000 .
10,00,000 10,00,000
They admit Sohail as partner giving him ¼ share. Sohail brings in Rs.2,00,000 as his
capital. Goodwill is valued at Rs.1,50,000 and will remain in the books. Land and
buildings are to be appreciated by 25% and Furniture is to be written down by Rs.20,000.
A provision of Rs.10,000 is to be made for outstanding expenses. Record the transactions
in any accounting software and generate the Balance Sheet after the process of admission
is complete.

37. On 1st April, 2009 Preksha Ltd. Offered 2,00,000 equity shares of Rs.10 each to the
public at a premium of Rs.2 per. The Payment was to be made as follows:
On application: Rs.5, on Allotment Rs.4 (including premium) and balance on call.
An on April 2009, when the issue was closed, the company received applications totaling
3,50,000 shares, of which applications for Rs.50,000 shares were rejected by their banker,
SBI, on technical grounds of the valid 3,00,000applications, retail investors applying for
1,00,000 shares received allotment in full, while the balance 1,00,000 shares were
allotted to institutional investors in the rate of 1 : 2. The allotment process was completed
on 15th May 2009 and the directors made the call exactly a month later in 15th June, 2009.
One shareholder, Mr.Nikhil, holding 5000 shares, did not pay the call money. After the
notice, on 4th September 2009, these shares were forfeited and re-issued to Mr. Sandeep
at Rs.6 per share. Pass necessary entries using any appropriate accounting software to
reflect the above transactions of Preksha Ltd.

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38. Mamta Ltd. Issues 25,000 6% Debentures of Rs.100 each on 1st January 2005, payable
at a discount of 5% but repayable at the end of 4 years at a premium of 5%. A sinking
fund will be instituted for the purpose investments are expected to earn 4% net. Sinking
Fund tables show that an annual installment of Rs.0.23549 every year at 4% interest will
taken Re.1 at the end of 4 years. Investments are made in nearest multiples of Rs.1,000.
On 31st December 2008, the investments realized Rs.18,58,000. The bank balance as on
that date was Rs.8,35,000. The Debentures were paid off is full. Show how the above
transactions would be recorded in Computer Accounting.

39. Manaank Ltd. Issued 10 Lakh equity shares of Rs.10 each. The whole issue was
underwritten by three booking firms, namely Merry Line (ML), Layman Bros (LB) and
More gun chase (MC) as under:
ML: 40%, LB: 30%, Mc: 30%
8 Lakh applications were received, of which 2 Laksh applications had the stamp of ML,
1Lakh had to stamp of LB and another 2 Lakhs had the stamp of MC, It was decided to
adjust the unmarked applications in the ratio of Gross Liability after deducting the
marked applications. A commission of 2% is payable to the Brokers.
Show the calculation of Net Liability and record the Transactions is appropriate books in
an accounting package.

40. A Trading Firm has a Retail Branch, which is supplied with goods from the Head Office
and which keeps its own sales ledger and remits all cash received daily to the Head
Office, the Branch expenses being paid by the Head Office by weekly cheques.
From the following particulars draw up the Branch Account by using computer as they
would appear in the Head Office Books for the six months ending 31st December 2008:
Rs.
Six Month’s Credit Sales 2,485
Cash Sales 1,460
Returns Inward 30
Cash Received on Ledger Accounts 2,387
Debtors on 1.7.2008 1,345
Stock on 1.7.2008 840
Stock on 31.12.2008 1,280
Goods received from Head Office 2,276
Bad Debts at the Branch 65
Wages and Sundry Expenses 415
Rent, Rates and Taxes 402

41. From the following particulars prepare Branch Account showing profit or loss of the
Branch by using Computer:
Opening Stock at the Branch :Rs.30,000
Goods sent to Branch :Rs.90,000
Sales (Cash) :Rs.1,20,000
Salaries :Rs.10,000
Other Expenses :Rs.4,000

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ADVANCED ACCOUNTING
Closing Stock could not be ascertained but it is known that the Branch usually sells at
cost plus 20%. The Branch Manager is entitled to a commission of 5% on the profit of the
Branch before charging such commission.

42. 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 by using
computer in the Books of Head Office:
Particulars Rs.
st
Stock on 1 January 10,000
Stock on 31st December 8,000
st
Debtors on 1 January 14,000
Debtors on 31st December 15,000
st
Cash on 1 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

43. Dynamic Ltd. issued 10,000 shares of Rs.10 each at a discount of Rs.1 per share. The
other details are as follows:
On Application Rs.2, On Allotment Rs.2, On First and Final Call Rs.5. Discount is to be
adjusted on allotment. All the money is received except from Mr. Ravi, who had been
allotted 100 shares, failed to pay the first and final call amount and his shares have been
forfeited. Journalize the above transactions relating to the forfeiture of the share by using
accounting software.

44. X and Y were partners in a firm sharing profits in the ratio of 3:2. On 1.1.2001 their fixed
capitals were Rs.3,00,000 and Rs.2,50,000 respectively. On 1.7.2001 they decided that
their total capital (fixed) should be Rs.6,00,000 in their profit sharing ratio. Accordingly,
they introduced extra or withdrew excess capital. The partnership deed provided for the
following:
(i) Interest on Capital @12% p.a.
(ii) Interest on Drawings @18% p.a.

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ADVANCED ACCOUNTING
(iii) A monthly salary of Rs.2,000 to X and a monthly salary of Rs.1,500 to Y. The
drawings of X and Y during the year was as follows:
Year 2001 X (Rs.) Y (Rs.)
June 30 20,000 15,000
September 30 20,000 25,000
During the year ended 31.12.2001 the firm earned a net profit of Rs.1,50,000. 10% of this
profit was to be transferred to general reserve.
By using computer, you are required to prepare: (i) Profit and Loss Appropriation
Account (ii) Partner’s Capital Accounts and (iii) Partner’s Current Accounts.

45. X and Y are partners sharing profits and losses equally. It has been agreed that if a
partner retires, the other partner, should be desired to carry on the business, shall pay to
the retiring partner his share by four equal half-yearly installments adding interest @5%
p.a. with half-yearly rests. Goodwill is to be valued on the basis of five year’s
capitalization of the average annual super profits of three preceding financial years, fixed
assets being revalued for the purpose. The balance sheet of the firm as at 31.12.2002 was
as follows:
Liabilities Rs. Assets Rs.
Creditors 9,160 Cash in Hand 13,000
X’s Capital Account 22,420 Book-debts 10,200
Y’s Capital Account 16,650 Stock 5,730
Building 19,300
48,230 48,230
Y retires on 1.1.2003 and X decides to carry on the business. The profits for the three
years ended 31st December were Rs.13,500; Rs.14,500 and Rs.14,000. For the purpose of
dissolution, building has been revalued at Rs.24,800. No interest on capital was charged
and partners did not draw any salary.
Show the computation of value of Goodwill and prepare Y’s Loan Account with the help
of computer. Assume that normal management remuneration is Rs.6,000 p.a. and normal
return on capital is 12%.

46. Brick, Sand and Cement were partners in a firm sharing profits and losses in the ratio of
3:2:1 respectively. Following is their balance sheet as on 31.12.2004:
Liabilities Rs. Assets Rs.
Brick Capital Account 30,000 Land and Building 50,000
Sand Capital Account 20,000 Furniture 15,000
Cement Capital Account 10,000 Stock 20,000
Reserve 29,800 Debtors 7,500
Creditors 6,200 Bills Receivable 5,000
Bills Payable 4,000 Cash and Bank 2,500
1,00,000 1,00,000
Lime is to be admitted as a partner with effect from 1st January 2005, on the following
terms:
(i) Lime will bring Rs.15,000 as capital and Rs.12,000 as premium for goodwill.
Half of the goodwill will be withdrawn by the partners.

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ADVANCED ACCOUNTING
(ii) Lime will be entitled to 1/6th share in the profits of the firm.
(iii)The assets will be revalued as: Land and Buildings Rs.56,000, Furniture Rs.12,000,
Stock Rs.16,000, Debtors Rs.7,000.
(iv) The claim for a creditor for Rs.2,300 is paid at Rs.2,000.
(v) Half of the Reserve is to be withdrawn by the partners.
Prepare the Opening Balance Sheet of the New Firm by using computer.

47. Asha Limited had issued Rs.2,00,000, 10% debentures on which interest was payable
half-yearly on 30th September and 31st March. Show the necessary journal entries by
using computer relating to debenture interest for the year ended 31st March, 2007
assuming that all moneys were duly paid by the company. Tax deducted at source is 10%.

48. Vardan Limited issued 10% Debentures of Rs.6,00,000 with a condition that they should
be redeemed after 3 years at 10% premium. The amount set aside for the redemption of
debenture is invested in 5% Government Securities. The sinking fund table shows that
0.31720855 at 5% compound interest in three years will become Re.1.
You are required to give Journal entries for recording the transactions with the help of
computer.

49. Meenakshi Limited issued on 1st April 2004 1,000, 12% Debentures of Rs.100 each
repayable at the end of 3 years at a premium of 5%. It was decided to create a sinking
fund for the redemption of debentures. The investments are expected to earn interest at
5% p.a.
Reference to the sinking fund table shows that Rs.0.317209 invested at 5% p.a. amounts
to Re.1 at the end of three years. At the end of three years, the investments were sold at
Rs.70,000 and the debentures were redeemed.
Prepare Debentures Account, Sinking Fund Account and Sinking Fund Investment
Account by using computer for the three years.

50. 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 in accounting software.

*****

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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
(Journal Voucher) i.e. F7
By. Share Allotment A/c --------------Dr. 3,00,000
To. Share Capital A/c 3,00,000
(Receipt Voucher) i.e. F6
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
(Receipt Voucher) i.e. F6
By. Bank/Cash A/c --------------------Dr. 3,00,000
To. Share First call A/c 3,00,000
(Journal Voucher) i.e. F7
By. Share Final/Second Call A/c-----Dr. 2,00,000

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ADVANCED ACCOUNTING
To. Share Capital A/c 2,00,000
(Receipt Voucher) i.e. F6
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

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

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


Bank A/c --------------------------------Dr 90,000
To Debentures application A/c 90,000
Debenture Application A/c -------------Dr 90,000
To Debenture A/c 60,000
To Debenture Allotment A/c 30,000
Debenture Allotment A/c ---------------Dr 35,000
Discount of the issue of Debenture ---Dr 5,000
To Debenture A/c 40,000
5,000
Bank A/c ----------------------------------Dr
5,000
To Debenture A/c
Profit & Loss A/c ------------------------Dr 500
To Discount of issue of den A/c 500
Profit & Loss A/c ------------------------Dr 5,000
To Interest on Debenture A/c 5,000

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: 3

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 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

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 A/c---------------------------Dr. 50,000
To. Share Application A/c 50,000
[ Being share application money
received at 5000 shares @ 10 Rs/- ]
(Journal Voucher) i.e. F7
By. Share Application A/c 50,000
To. Share Capital A/c 50,000
[ Being share application money
transferred to share capital A/c ]
(Journal Voucher) i.e. F7
By. Share Allotment A/c--------------Dr. 30,000
To. Share Capital A/c 30,000
To. Share Premium A/c
[ Being Allotment money received
including Premium ]

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ADVANCED ACCOUNTING
(Receipt Voucher) i.e. F6
By. Bank A/c 3,00,000
To. Share Allotment A/c 3,00,000
[ Being Allotment money received
including Premium ]
(Journal Voucher) i.e. F7
By. Share First Call A/c --------------Dr. 1,50,000
To. Share Capital A/c 1,50,000
[ Being share First call money due ]
(Receipt Voucher) i.e. F6
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 ]
(Journal Voucher) i.e. F7
2,00,000
By. Share Final Call A/c
2,00,000
To. Share capital A/c
[ Being share final call money due ]
(Receipt Voucher) i.e. F6
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. ]

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: 4

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 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 Capital A/c Share Capital A/c
5 Call in Arrears Share Capital A/c

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(f6 receipt voucher)
1. Bank a/c-----Dr 2250000
To share application a/c 2250000
(f7 journal voucher)
2. Share application a/c-----Dr 2250000
To share capital a/c 2250000
(f7 journal voucher)
3. Share allotment a/c-------Dr 306000
Discount a/c---------------Dr 60000
To Share capital a/c 366000
(f6 receipt voucher)
4. Bank a/c----Dr
306000
To share allotment a/c
306000
(f7 journal voucher)
5. Share 1st call a/c----- Dr 3150000
To share capital a/c 3150000
(f6 receipts voucher)

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ADVANCED ACCOUNTING
6. Bank a/c-----Dr 280000
Calls in arrears a/c----Dr 35000
To share 1st call a/c 3150000

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: 5

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 LEDGER UNDER GROUP


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

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

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 A/c---------------------------Dr. 50,000
To. Share Application A/c 50,000
[ Being share application money
received at 5000 shares @ 10 Rs/- ]
(Journal Voucher) i.e. F7
By. Share Application A/c 50,000
To. Share Capital A/c 50,000
[ Being share application money
transferred to share capital A/c ]
(Journal Voucher) i.e. F7
By. Share Allotment A/c--------------Dr. 30,000
To. Share Capital A/c 30,000
To. Share Premium A/c
[ Being Allotment money received

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ADVANCED ACCOUNTING
including Premium ]
(Receipt Voucher) i.e. F6
By. Bank A/c 40,05,000
To. Equity Share Allotment A/c 40,05,000
[ Being Equity Allotment money
received ]
(Journal Voucher) i.e. F7
By. Equity Share First Call A/c -----Dr. 40,05,000
To. Equity Share Capital A/c 40,05,000
(Journal Voucher) i.e. F7
40,05,000
By. Equity Share Allotment A/c
22,50,000
To. Equity share capital A/c
18,00,000
To. Share Premium A/c
[ Being amount due towards allotment
including Premium ]
(Journal Voucher) i.e. F7 40,50,000
By. Bank A/c 40,50,000
To. Equity Share Allotment A/c
[ Being allotment money received ]
(Journal Voucher) i.e. F7
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 ]
(Receipt Voucher) i.e. F6
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]
(Journal Voucher) i.e. F7
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 ]
(Journal Voucher) i.e. F7
60,000
By. Bank A/c
40,000
By. Share forfeited A/c
1,00,000
To. Equity share capital A/c
[ Being the reissue of forfeited shares
issued @ Rs. 60 per share ]
(Journal Voucher) i.e. F7
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 ]

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Reports → Display → Accounts Books → Cash Books

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ADVANCED ACCOUNTING

PROBLEM: 6

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


Press Four times (Esc) and Accept YES to Save
Press (Esc) and Return to Gateway of Tally

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


Sundry Assets A/c ---------------------Dr. 35,000
Goodwill A/c ---------------------------Dr. 10,000
To. Liabilities A/c 30,000
To. Depreciation A/c 3,00,000
To. S Sudhakar Premium A/c 30,000

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: 7

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

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


Bank A/c --------------------------------Dr 90,000
To Debentures application A/c 90,000
Debenture Application A/c -------------Dr 90,000
To Debenture A/c 60,000
To Debenture Allotment A/c 30,000
Debenture Allotment A/c ---------------Dr 35,000
Discount of the issue of Debenture ---Dr 5,000
To Debenture A/c 40,000
5,000
Bank A/c ----------------------------------Dr
5,000
To Debenture A/c
Profit & Loss A/c ------------------------Dr 500
To Discount of issue of den A/c 500
Profit & Loss A/c ------------------------Dr 5,000
To Interest on Debenture A/c 5,000

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: 8

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 LEDGER UNDER GROUP


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

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

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 A/c 3,00,000
To. Debenture Application 3,00,000
(Journal Voucher) i.e. F7
By. Debenture Application A/c 3,00,000
To. Debenture A/c 3,00,000
(Journal Voucher) i.e. F7
By. Debenture Allotment A/c 4,00,000
To. Debenture A/c 4,00,000
(Receipt Voucher) i.e. F6
By. Bank A/c
4,04,000
To. Debenture Allotment A/c
3,92,000
To. Debenture Call in Advance A/c
2,000
(Journal Voucher) i.e. F7

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ADVANCED ACCOUNTING
By. Debenture first call A/c 2,00,000
To. Debenture A/c 2,00,000
(Journal Voucher) i.e. F7
By. Debenture Call in advance A/c 8,000
To. Debenture first call A/c 8,000
(Receipt Voucher) i.e. F6
By. Bank A/c 2,00,000
To. Debenture Allotment A/c 8,000
To. Debenture first call A/c 1,92,000
(Journal Voucher) i.e. F7
1,00,000
By. Debenture Second Call A/c
1,00,000
To. Debenture A/c
(Receipt Voucher) i.e. F6 4,000
By. Debenture Call in a advance A/c 96,000
By. Bank A/c 1,00,000
To. Debenture second call A/c

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Reports → Display → Accounts Books → Cash Books

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ADVANCED ACCOUNTING

PROBLEM: 9

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

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


Sundry Assets A/c -- ------------------- Dr 36,000
Goodwill A/c ----------------------------Dr 10,015
To Liabilities A/c 35,000
To Debenture A/c 30,4800
To S.P A/c 30,450
To. Bank A/c 65

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Reports → Display → Accounts Books → Cash Books

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ADVANCED ACCOUNTING

PROBLEM: 10

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

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


Sundry Assets A/c ---------------------Dr. 3,80,000
Discount of Debenture A/c ----------Dr. 3,70,000
To. Debenture A/c 3,70,000
To. Liability A/c 30,000
To. Capital A/c 17,000

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Reports → Display → Accounts Books → Cash Books

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 11
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 LEDGER UNDER GROUP


1 Debenture A/c Secured loans
2 Loss on issue of Debenture Indirect Expenses
3 Premium On Redemption Indirect Receipt

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(F6 Receipt Voucher)
Bank A/c -------------------------------- Dr 95
Discount on debenture A/c ------------Dr 5
To debenture A/c 100
(F7 Receipt Voucher)
Bank A/c -------------------------------- Dr 95
Loss on issue of debenture A/c -------Dr 10
To debenture A/c 100
To premium on redemption A/c 5
(F6 Receipts Voucher)
Bank A/c ---------------------------------Dr 100
Discount A/c ----------------------------Dr 5
To debenture A/c 100
To premium on debenture A/c 5
(F6 Receipt Voucher)
105
Bank A/c ---------------------------------Dr
100
To debenture A/c
5
To premium on debenture A/c

STEP:5- DISPLAY RESULT

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Computer Lab - Practical
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ADVANCED ACCOUNTING
Path: Gateway of Tally → Reports → Display → Accounts Books → Cash Books
PROBLEM: 12

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

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


6% Debenture A/c ----------------------------------Dr. 10,000
To. Bank A/c 10,000
6% Debenture A/c ----------------------------------Dr. 15,000
To. Bank A/c 15,000
Profit & Loss Appropriation A/c -----------------Dr. 15,000
To. Debenture redemption A/c 15,000

STEP:4- DISPLAY RESULT


Path: Gateway of Tally → Reports → Display → Accounts Books → Cash Books

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 13

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 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 Call in Arrears Share Capital A/c
Press Four times (Esc) and Accept YES to Save
Press (Esc) and Return to Gateway of Tally
STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER
Path: Gateway of Tally → Accounting Voucher
Date Particular L.F. Debit Credit
Bank A/c ---------------------------------------------Dr. 60,00,000
To. Share Application A/c 60,00,000
Share Application A/c ------------------------------Dr. 6,00,000
To. Share Capital A/c 6,00,000
Share Allotment A/c -------------------------------Dr. 9,00,000
To. Share Capital A/c 9,00,000
9,00,000
Bank A/c --------------------------------------------Dr.
9,00,000
To. Share Allotment A/c
Share 1st Call A/c -----------------------------------Dr. 9,00,000
To. Share Capital A/c 9,00,000
Bank A/c ---------------------------------------------Dr. 9,00,000
To. Share 1st Call A/c 8,70,000
To. Calls in Arrears A/c 3,00,000
Share Final Call A/c --------------------------------Dr. 6,00,000
To. Share Capital A/c 6,00,000
Bank A/c ---------------------------------------------Dr. 6,00,000
To. Share Final Call A/c 70,000
To. Calls in Arrears A/c 30,000

STEP:5- DISPLAY RECALUATION A/c, BALANCE SHEET


Path: Accounts info → Display → Accounts Book → Ledgers → Revaluation A/c

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Computer Lab - Practical
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ADVANCED ACCOUNTING
Gateway of Tally → Balance sheet.
PROBLEM: 14

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 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 Second 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

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(F6 Receipt Voucher)
Bank A/c ----------------------------------Dr 10000
To Share capital A/c 10000
(F7 Journal Voucher)
Share application A/c -------------------Dr 10000
To Share Capital A/c 10000
(F7 Journal Voucher)
Share Allotment A/c --------------------Dr 15000
Premium A/c ----------------------------Dr 10000
To Share Capital A/c 25000
(F6 Receipt Voucher)
25000
Bank A/c ---------------------------------Dr
15000
To Share Allotment A/c
10000
To Premium A/c
(F7 Journal Voucher)

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING
Share 1st A/c -----------------------------Dr 15000
To Share Capital A/c 15000
(F6 Receipt Voucher)
Bank A/c ----------------------------------Dr 14000
Calls in arrears A/c ----------------------Dr 1000
To Share 1st call A/c 15000
(F7 Journal Voucher)
Share 2nd call A/c ------------------------Dr 10000
To Share Capital A/c 10000
(F6 Receipt Voucher)
7000
Bank A/c ----------------------------------Dr
3000
Calls in arrears A/c ---------------------- Dr
10000
To 2nd call A/c

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Reports → Display → Accounts Books → Cash Books

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 15

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 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 Second Call A/c Share Capital A/c
5 Share Capital A/c Share Capital A/c
6 Call in Arrears Share Capital A/c

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(F6 Receipt Voucher)
Bank A/c --------------------------------Dr 600000
To Share Application A/c 600000
(F7 Journal Voucher)
Share Application A/c -----------------Dr 600000
To Share Capital a/c 600000
(F7 Journal Voucher)
Share Allotment A/c -------------------Dr 900000
To Share Capital A/c 900000
(F6 Receipt Voucher)
900000
Bank A/c --------------------------------Dr
900000
To Share Allotment A/c
(F7 Journal Voucher)
Share 1st call A/c -----------------------Dr 900000
To Share Capital A/c 900000
(F6 Receipt Voucher)

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING
Bank A/c ---------------------------------Dr 890000
Calls in arrears A/c-----Dr 10000
To share 1st call A/c 900000
(F7 Journal Voucher)
Share 2nd call A/c -----------------------Dr 600000
To Share Capital A/c 600000
(F6 Receipt Voucher)
Bank A/c ---------------------------------Dr 585000
Calls in arrears A/c ---------------------Dr 15000
To share 2nd call A/c 600000

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Reports → Display → Accounts Books → Cash Books

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 16

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: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


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

S.NO NAME OF LEDGER UNDER GROUP


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

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:5- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(Receipt Voucher) i.e. F6
By. Bank A/c 1,00,000
To. Debenture A/c 1,00,000
(Journal Voucher) i.e. F7
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
(Receipt Voucher) i.e. F6

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

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Computer Lab - Practical
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ADVANCED ACCOUNTING
78,100-300=77,800 ]
(Journal Voucher) i.e. F7 3,905
By. Investment Sinking fund investment A/c 3,905
To. Sinking fund A/c
(Journal Voucher) i.e. F7 300
By. Sinking fund A/c 300
To. Sinking fund investment A/c
1,00,000
(Payment Voucher) i.e. F5
1,00,000
By. Debenture A/c
To. Bank A/c
99,710
(Journal Voucher) i.e. F7 99,710
By. Sinking fund A/c
To. General Reserve A/c

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Reports → Display → Accounts Books → Cash Books

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 17

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:3CREATION OF GROUP:
Path: Gateway of Tally → Accounts info → Group → Single Group → Create

S.NO NAME OF GROUP UNDER GROUP


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

STEP:4 CREATION OF LEDGER


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

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 -

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

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


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit

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Computer Lab - Practical
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ADVANCED ACCOUNTING
(Journal Voucher) i.e. F7
By. Bad Debts A/c 200
To. Debtors A/c 200
(Journal Voucher) i.e. F7
By. Revaluation A/c 200
To. Bad Debts A/c 200
(Journal Voucher) i.e. F7
By. Revaluation A/c 500
To. Stock A/c 500
(Journal Voucher) i.e. F7
250
By. Revaluation A/c
250
To. Furniture A/c
(Journal Voucher) i.e. F7
By. Premises A/c 1,000
To. Revaluation A/c 1,000
(Journal Voucher) i.e. F7
By. Revaluation A/c 50
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.

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 18

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

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


Realization A/c -------------------------------------Dr. 70,000
To. Debtors A/c 20,000
To. Furniture A/c 10,000
To. Machinery A/c 40,000
Creditor A/c ------------------------------------------Dr. 20,000
Loan A/c ---------------------------------------------Dr. 10,000
To. Realization A/c 30,000
Cash A/c ----------------------------------------------Dr. 45,000
To. Realization A/c 45,000
30,000
Realization A/c --------------------------------------Dr.
30,000
To. Cash A/c
N Capital A/c ----------------------------------------Dr. 12,500
M Capital A/c ---------------------------------------Dr. 12,500
To. Realization A/c 25,000
M Capital A/c ---------------------------------------Dr. 17,500
N Capital A/c ----------------------------------------Dr. 7,500
To. Cash A/c 25,000

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Display → Accounts Book → Ledgers → Goodwill A/c

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 19

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:3CREATION OF GROUP:
Path: Gateway of Tally → Accounts info → Group → Single Group → Create

S.NO NAME OF GROUP UNDER GROUP


1 Current A/c Capital A/c
2 Good Will A/c Current Assets

STEP:4 CREATION OF LEDGER


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

S.NO NAME OF LEDGER UNDER GROUP OPEMOMG BALANCE


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

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:5- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(Receipt Voucher) i.e. F6
By. C’s Capital A/c 20,000
To. Cash A/c 20,000
(Journal Voucher) i.e. F7
By. Goodwill A/c 15,000
To. A’s Current A/c 9,000
To. B’s Current A/c 6,000

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING
(Journal Voucher) i.e. F7 500
By. A’s Current A/c 6,000
By. B’s Current A/c 4,000
By. C’s Current A/c 5,000
To. Goodwill A/c 15,000

STEP:6- DISPLAY RESULT


Path: Gateway of Tally → Display → Accounts Book → Ledgers → Goodwill A/c

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 20

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 GROUP:


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

S.NO NAME OF GROUP UNDER GROUP


1 Current A/c Capital A/c
2 Good Will A/c Current Assets
3 Reserve Fund A/c Reserve & Surplus

STEP:4 CREATION OF LEDGER


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

S.NO NAME OF LEDGER UNDER GROUP OPEMOMG BALANCE


1 A’s Capital A/c Capital A/c 8,000 Cr.
2 B’s Capital A/c Capital A/c 8,000 Cr.
3 C’s Capital A/c Capital A/c -
4 Goodwill Good Will 2,500 Dr.
5 Assets Fixed Assets 17,500 Dr.
6 A’s Current A/c Current A/c -
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


Press (Esc) and Return to Gateway of Tally

STEP: 5- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(Receipt Voucher) i.e. F6
By. C’s Capital A/c 8,000
To. Cash A/c 8,000
(Receipt Voucher) i.e. F6
By. Cash A/c 2,000
To. Goodwill A/c 2,000

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING
(Journal Voucher) i.e. F7
By. Goodwill A/c
To. A’s Current A/c 4,500
To. B’s Current A/c 2,700
(Journal Voucher) i.e. F7 1,800
By. Reserve Fund A/c
To. A’s Current A/c 4,000
To. B’s Current A/c 2,400
1,600

STEP:6- DISPLAY RESULT


Path: Gateway of Tally → Reports → Balance Sheet.

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 21

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 GROUP:


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

S.NO NAME OF GROUP UNDER GROUP


1 Current A/c Capital A/c
2 Good Will A/c Current Assets
3 Reserve Fund A/c Reserve & Surplus

STEP:4 CREATION OF LEDGER


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

S.NO NAME OF LEDGER UNDER GROUP OPEMOMG BALANCE


1 A’s Capital A/c Capital A/c 8,000 Cr.
2 B’s Capital A/c Capital A/c 8,000 Cr.
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 -
8 A’s Current A/c Current A/c -
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.

Press four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

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

STEP: 6- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(Journal Voucher) i.e. F7
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
By. Revaluation 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
25,230
By. B,s Capital A/c
25,230
To. B’s Loan A/c
By. Reserve Fund A/c 15,000
To. A’s Capital A/c 9,000
To. B’s Capital A/c 6,000

STEP:6- DISPLAY RESULT


Path: Gateway of Tally → Reports → Balance Sheet.

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 22

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 LEDGER UNDER GROUP


1 A’s Capital A/c Capital A/c
2 B’s Capital A/c Capital A/c
3 C’s Capital A/c Capital A/c
4 Goodwill Good Will

Press four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(F6 Receipt Voucher)
Bank A/c -----------------------------------------------Dr 44000
To C’s capital A/c 40000
To Goodwill A/c 4000
(F7 Journal Voucher)
Goodwill A/c ------------------------------------------Dr 4000
To A’s capital A/c 1500
To B’s capital A/c 2500
(F5 Payment Voucher)
A’s capital A/c ----------------------------------------Dr 2500
B’s capital A/c ----------------------------------------Dr 1500
To Cash A/c 4000
(F7 Journal Voucher)
5000
Revaluation A/c --------------------------------------Dr
4000
To Plant A/c
1000
To Provision A/c
(F7 Journal Voucher) 42500

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING
Bank overdraft A/c ----------------------------------Dr 42500
To Revaluation A/c
(F7 Journal Voucher) 37500
Revaluation A/c --------------------------------------Dr 18750
To A’s capital A/c 18750
To B’s capital A/c

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Reports → Balance Sheet.

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 23

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 LEDGER UNDER GROUP


1 A’s Capital A/c Capital A/c
2 B’s Capital A/c Capital A/c
3 C’s Capital A/c Capital A/c
4 Goodwill Good Will

Press four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(F6 Receipt Voucher)
Bank A/c ----------------------------------------------Dr 20000
To C’s capital A/c 20000
(F7 Journal Voucher)
Goodwill A/c -----------------------------------------Dr 36000
To A’s capital A/c 21600
To B’s capital A/c 14400
(F7 Journal Voucher)
A’s capital A/c ---------------------------------------Dr 15750
B’s capital A/c ---------------------------------------Dr 11250
C’s capital A/c ---------------------------------------Dr 9000
To Goodwill A/c 36000

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Display → Account Books → Cash Book.
Gateway of Tally → Reports → Balance Sheet.

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 24

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

Press four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(Receipt Voucher) i.e. F6
Cash A/c ----------------------------------------------Dr. 18,000
To. Capital A/c 10,000
To. Goodwill A/c 8,000
(Journal Voucher) i.e. F7
Goodwill A/c ----------------------------------------Dr. 8,000
To. Pratap’s A/c 8,000
(Journal Voucher) i.e. F7
Revaluation A/c -------------------------------------Dr. 5,345
To. Depreciation Stock A/c 1,700
To. Less Investment A/c 1,000
To. Depreciation Furniture A/c 80
To. Depreciation Lorry A/c 475
To. Depreciation Plant A/c 670
To. Provision A/c 1,450
(Journal Voucher) i.e. F7
5,900
Building A/c -----------------------------------------Dr.
5,900
To. Revaluation A/c
(Journal Voucher) i.e. F7
Revaluation A/c -------------------------------------Dr. 555
To. Pratap’s Capital A/c 555

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Reports → Balance Sheet.

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 25

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 LEDGER UNDER GROUP
1 A’s capital A/c Capital A/c
2 B’s capital A/c Capital A/c
3 C’s capital A/c Capital A/c
4 Goodwill A/c Goodwill A/c

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(F7 Journal Voucher)
Goodwill A/c ---------------------------------------Dr 12000
To A’s capital A/c 6000
To B’s capital A/c 4000
To C’s capital A/c 2000
(F7 Journal Voucher)
A’s capital A/c --------------------------------------Dr 7500
B’s capital A/c --------------------------------------Dr 4500
To Goodwill A/c 12000

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Reports → Display → Accounts Books → Cash Books

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 26

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 LEDGER UNDER GROUP


1 A’s capital A/c Capital
2 B’s capital A/c Capital
3 C’s capital A/c Capital

Press four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(F7 Journal Voucher)
A’s capital A/c ----------------------------------------Dr 750
B’s capital A/c ----------------------------------------Dr 450
To C’s capital A/c 1,200

STEP:6- DISPLAY RESULT


Path: Gateway of Tally → Display → Account Books → Cash Book.
Gateway of Tally → Reports → Balance Sheet.

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 27

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 LEDGER UNDER GROUP


1 A’s capital A/c Capital
2 B’s capital A/c Capital
3 C’s capital A/c Capital

Press four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(F7 Journal Voucher)
A’s capital A/c ---------------------------------------Dr 5,400
C’s capital A/c ---------------------------------------Dr 3,600
To B’s capital A/c 9,000

STEP:6- DISPLAY RESULT


Path: Gateway of Tally → Display → Account Books → Cash Book.
Gateway of Tally → Reports → Balance Sheet.

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 28

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 LEDGER UNDER GROUP OPEMOMG BALANCE


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 -

Press four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(Receipt Voucher) i.e. F6
By. Branch Expenses A/c 6,000
To. Branch Cash A/c 6,000
(Journal Voucher) i.e. F7
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
(Receipt Voucher) i.e. F6
22,000
By. Branch Cash A/c
22,000
To. Branch Debtors A/c

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING
(Journal Voucher) i.e. F7
By. Branch P & L A/c
To. P & L A/c 7,000
(Journal Voucher) i.e. F7 7,000
By. Branch P & L A/c
To. P & L A/c 18,000
(Journal Voucher) i.e. F7 18,000
By. Branch stock A/c
To. Goods sent to branch A/c 30,000
30,000
(Journal Voucher) i.e. F7
By. Goods sent to branch A/c
2,000
To. Branch stock A/c
2,000
(Receipt Voucher) i.e. F6
By. Branch Cash A/c 30,000
To. Sales A/c 30,000
(Journal Voucher) i.e. F7
By. Branch Debtors A/c 25,000
To. Sales A/c 25,000
(Journal Voucher) i.e. F7
By. Branch Expenses A/c
To. Branch A/c 1,000
(Receipt Voucher) i.e. F6 1,000
By. Branch stock A/c
To. Branch Debtors A/c 1,000
1,000
(Contra Voucher) i.e. F4
By. Bank A/c
46,000
To. Cash A/c
46,000

STEP:6- DISPLAY RESULT


Path: Gateway of Tally → Display → Account Books → Cash Book.
Gateway of Tally → Reports → Balance Sheet.

http://www.miteshk.webs.com
Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 29

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


Press Four times (Esc) and Accept YES to Save
Press (Esc) and Return to Gateway of Tally

STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(f7 journal voucher)
Das’s capital a/c-----Dr 5,500
To Bas’s capital a/c 5,500
(f7 journal voucher)
Revaluation a/c-----Dr 2,760
To stock a/c 2,000
To provision a/c 760
(f6 receipt voucher)
Cash a/c-----Dr 20,000
To 9% loan a/c 20,000
(f5 payment voucher)
20,000
Bas’s capital a/c----Dr
20,000
To cash a/c
(f7 journal voucher)
Loss a/c-----Dr 2,760
To Revaluation a/c 2,760

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Display → Account Books → Cash Book.
Gateway of Tally → Reports → Balance Sheet.

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 31

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 LEDGER UNDER GROUP OPEMOMG BALANCE


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 -

Press four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(Journal Voucher) i.e. F7
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
(Journal Voucher) i.e. F7
By. Creditors 11,200
By. Bills Payable 1,800
By. Provision for doubtful debts 1,400
14,400

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Computer Lab - Practical
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ADVANCED ACCOUNTING
To.. Revaluation A/c
(Journal Voucher) i.e. F7 6,000
By. Reserve Fund 3,000
To. Kishore Capital A/c 3,000
To. Nakul Capital A/c
(Receipt Voucher) i.e. F6 49,600
By. Cash 49,600
To.. Revaluation A/c
12,776
(Payment Voucher) i.e. F5
12,776
By. Realization A/c
To. Cash A/c
544
(Payment Voucher) i.e. F5 544
By. Realization A/c
To. Cash A/c 3,110
(Journal Voucher) i.e. F7 3,110
By. Kishore Capital A/c 6,220
By. Nakul Capital A/c
To.. Revaluation A/c
(Payment Voucher) i.e. F5 5,000
By. Kishore Loan A/c 5,000
To. Cash A/c
(Journal Voucher) i.e. F7 14,980
By. Kishore Capital A/c 19,890
By. Nakul Capital A/c 34,870
To. Cash A/c

STEP:6- DISPLAY RESULT


Path: Gateway of Tally → Display → Account Books → Cash Book.
Gateway of Tally → Reports → Balance Sheet.

http://www.miteshk.webs.com
Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 34

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 LEDGER UNDER GROUP OPEMOMG BALANCE


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 -
4 Bank A/c Bank A/c -
5 Branch A/c S. Debtors -
6 Stock Reserve A/c Indirect Income -
7 P & L A/c Indirect Income -

Press four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(Journal Voucher) i.e. F7
By. Hyderabad Branch A/c 4,00,000
To. Goods sent to branch A/c 4,00,000
(Receipt Voucher) i.e. F6
By. Bank A/c 4,55,000
To. Hyderabad Branch A/c 4,55,000
(Journal Voucher) i.e. F7
By. Goods sent to branch A/c 25,000
To. Hyderabad A/c 25,000
(Journal Voucher) i.e. F7
1,45000
By. Goods sent to branch A/c
1,45,000
To. Bank A/c
(Journal Voucher) i.e. F7
By. Stock Reserve A/c 25,000

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING
To. Hyderabad A/c 25,000
(Journal Voucher) i.e. F7
By. Hyderabad Stock A/c 30,000
To. Stock Reserve A/c 30,000
(Journal Voucher) i.e. F7
By. Goods sent to branch A/c 75,000
To. Hyderabad Branch A/c 75,000
(Journal Voucher) i.e. F7
13,500
By. Hyderabad Branch A/c
13,500
To. P & L A/c

STEP:6- DISPLAY RESULT


Path: Gateway of Tally → Display → Account Books → Cash Book.
Gateway of Tally → Reports → Balance Sheet.

http://www.miteshk.webs.com
Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 35

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 LEDGER UNDER GROUP OPEMOMG BALANCE


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 -
6 Bank A/c Bank A/c -
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 -

Press four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(Journal Voucher) i.e. F7
By. Branch Stock A/c 3,00,000
To. Goods sent to branch A/c 3,00,000
(Receipt Voucher) i.e. F7
By. Branch Stock A/c 6,000
To. Branch Debtors A/c 6,000
(Receipt Voucher) i.e. F6
By. Bank A/c 90,000
To. Branch Stock A/c 90,000
(Journal Voucher) i.e. F7

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-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING
By. Branch Debtors A/c 1,85,000
To. Branch Stock A/c 1,85,000
(Journal Voucher) i.e. F7
By. Branch Adjustment A/c
To. Branch Stock A/c 200
(Journal Voucher) i.e. F7 200
By. Branch P & L A/c
To. Branch A/c 800
800
(Receipt Voucher) i.e. F6
By. Bank A/c
1,40,000
To. Branch Debtor A/c
1,40,000
(Journal Voucher) i.e. F7
By. Discount A/c 5,000
To. Branch A/c 5,000
(Payment Voucher) i.e. F5
By. Rent A/c 2,400
By. Salaries A/c 5,600
By. General Expenses A/c 2,000
To. Bank A/c 10,000
(Journal Voucher) i.e. F7
By. Branch P & L A/c
To. Branch Expenses A/c 15,000
(Journal Voucher) i.e. F7 15,000
By. Branch Expenses A/c
To. Rent A/c 15,000
To. Salaries A/c 2,400
To. General Expenses A/c 5,600
To. Discount A/c 2,000
5,000
(Journal Voucher) i.e. F7
By. Branch Adjustment A/c
10,000
To. Stock Reserve A/c
10,000
(Journal Voucher) i.e. F7
By. Goods sent to branch A/c 60,000
To. Branch Adjustment A/c 60,000
(Journal Voucher) i.e. F7
By. Branch Adjustment A/c
To. Branch P & L A/c 53,800
53,800

STEP:6- DISPLAY RESULT


Path: Gateway of Tally → Display → Account Books → Cash Book.
Gateway of Tally → Reports → Balance Sheet.

http://www.miteshk.webs.com
Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 42

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:3CREATION OF GROUP:
Path: Gateway of Tally → Accounts info → Group → Single Group → Create

S.NO NAME OF GROUP UNDER GROUP


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

STEP:4 CREATION OF LEDGER


Path: Gateway of Tally → Accounts info → Ledger → Multiple Ledger → Create
S.NO NAME OF LEDGER UNDER GROUP OPEMOMG BALANCE
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 -

Press Four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP:5- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

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Computer Lab - Practical
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ADVANCED ACCOUNTING

Date Particular L.F. Debit Credit


(Journal Voucher) i.e. F7
By. Revaluation A/c 250
To. Furniture A/c 250
(Journal Voucher) i.e. F7
By. Doubtful Debtors A/c 300
To. Debtors A/c 300
(Journal Voucher) i.e. F7
By. Investment A/c 400
To. Revaluation A/c 400
(Journal Voucher) i.e. F7
300
By. Revaluation A/c
300
To. Doubtful Debtors A/c
(Receipt Voucher) i.e. F6 1,000
By. Cash A/c 1,000
To. C’s Capital A/c
(Journal Voucher) i.e. F7
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

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Reports → Display → Accounts Books → Cash Books

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 43

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 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 Capital A/c Share Capital A/c
5 Call in Arrears Share Capital A/c

Press four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(F6 Receipt Voucher)
Bank A/c ----------------------------------------------Dr 20000
To Share Application A/c 20000
(F7 Journal Voucher)
Share Application A/c -------------------------------Dr 20000
To Share Capital A/c 20000
(F7 Journal Voucher)
Discount A/c ------------------------------------------Dr 10000
Share Allotment A/c ----------------------------------Dr 20000
To Share Capital A/c 30000
(F6 Receipt Voucher)
20000
Bank a/c ----------------------------------------------Dr
20000
To Share allotment a/c
(F7 Journal Voucher)
Share 1st and final call A/c --------------------------Dr 50000
To Share Capital A/c

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Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING
(F6 Receipt Voucher) 50000
Bank A/c -----------------------------------------------Dr
To Share 1st call A/c 49500
(F7 Journal Voucher) 49500
Share Capital A/c -------------------------------------Dr
To Share Forfeited A/c 1000
To Calls in Arrears A/c 500
500

STEP:6- DISPLAY RESULT


Path: Gateway of Tally → Display → Account Books → Cash Book.
Gateway of Tally → Reports → Balance Sheet.

http://www.miteshk.webs.com
Computer Lab - Practical
-----------------------------------------------------------------------------------------------------
ADVANCED ACCOUNTING

PROBLEM: 46

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


Press Four times (Esc) and Accept YES to Save
Press (Esc) and Return to Gateway of Tally

STEP: 4- ENTERING TRANSACTIONS INTO VOUCHER


Path: Gateway of Tally → Accounting Voucher

Date Particular L.F. Debit Credit


(F6 Receipt Voucher)
Cash/Bank A/c --------------------------------------Dr 27000
To Lime A/c 15000
To Goodwill A/c 12000
(F7 Journal Voucher)
Goodwill A/c ----------------------------------------Dr 12000
To Brick A/c 6000
To Sand A/c 4000
To Cement A/c 2000
(F5 Payment Voucher)
Brick A/c ---------------------------------------------Dr 3000
Sand A/c ---------------------------------------------Dr 2000
Cement A/c ------------------------------------------Dr 1000
To Bank A/c 6000
(F7 Journal Voucher)
Revaluation A/c--------------------------------------Dr
12500
To dep. Furniture A/c
3000
To dep. Stock A/c
4000
To Provision bad depts. A/c
5500
(F7 Journal Voucher)
Creditor A/c -----------------------------------------Dr 2000
App. Building A/c --------------------------------- Dr 6000
To Revaluation A/c 8000
(F7 Journal Voucher)
General Reserve A/c --------------------------------Dr 29800

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Computer Lab - Practical
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ADVANCED ACCOUNTING
To Brick A/c 14900
To Sand A/c 9933
To Cement A/c 4967
(F7 Journal Voucher)
Brick’s capital A/c ----------------------------------Dr 2250
Sand’s capital A/c -----------------------------------Dr 1500
Cement capital A/c ----------------------------------Dr 750
To Revaluation loss A/c 4500

STEP:5- DISPLAY RESULT


Path: Gateway of Tally → Display → Account Books → Cash Book.
Gateway of Tally → Reports → Balance Sheet.

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Computer Lab - Practical
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ADVANCED ACCOUNTING

PROBLEM: 50

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 LEDGER UNDER GROUP


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

Press four times (Esc) and Accept YES to Save


Press (Esc) and Return to Gateway of Tally

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 A/c 20,000
To. Share Application A/c 20,000
(Journal Voucher) i.e. F7
By. Share Application A/c 20,000
To. Share Capital A/c 20,000
(Journal Voucher) i.e. F7
By. Share Allotment A/c 30,000
To. Share Capital A/c 30,000
(Receipt Voucher) i.e. F6
30,000
By. Bank A/c
30,000
To. Share Allotment A/c
(Journal Voucher) i.e. F7 50,000
By. Share First/ Last call A/c 50,000
To. Share Capital A/c
(Receipt Voucher) i.e. F6
By. Bank A/c

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Computer Lab - Practical
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ADVANCED ACCOUNTING
To. Share First/ Last call A/c 50,000
50,000

STEP:6- DISPLAY RESULT


Path: Gateway of Tally → Display → Account Books → Cash Book.
Gateway of Tally → Reports → Balance Sheet.

KNOWLEDG IS POWER

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