MKC

COMPUTER &EDUCATION ACADEMY

WISH
BASIC TERM IN ACCOUNTING

LEDGER GROUP

FINAL ACCOUNT

CASH BOOK

TWO COLUMN CASH BOOK

COST CATEGORY & CENTER

PURCHASE AND SALES BOOK

PURCHASE AND SALES RETURN

INVOICE

VAT (VALUE ADDED TAX)

T.D.S(TAX DEDUCATED AT SOURCES)

MAHI SIR
 ADVANCE TALLY NOTES
BASIC TERM IN ACCOUNTING
LEDGER GROUP
FINAL ACCOUNT
JOURNAL ENTRY
CASH BOOK
TWO COLUMN CASH BOOK
COST CATEGORY & CENTER
BILL WISE DETAILS
PURCHASE BOOK
PURCHASE AND SALES BOOK
PURCHASE RETURN
SALES RETURN
RETURN INWARD AND OUT WARD BOOK
INVOICE
FINAL ACCOUNTS WITH ADJUSTMENT
G.S.T (GOODS AND SERVICE TAX)
T.D.S(TAX DEDUCATED AT SOURCES)
FBT(FRINGE BENEFIT TAX)
TCS(TAX COLLECTED AT SOURCES)
STOCKING
BUDGET MAINTAINS
BASIC TERMS IN ACCOUNTING: -

MAHI SIR
 MKC WISH

CAPITAL: - capital means the amount (in terms of money or assets having money value) which the proprietor has
invested in the firm

Capital = Assets - Liabilities

Liabilities: - liabilities mean the amount which the firm owes to outsiders, that is excepting the proprietors

Liabilities = Assets - Capital

Liabilities can be classified into the following: -

Long –term liabilities. these are those liabilities which are payable after a long term

(generally more than one year).example of long term liabilities are long-term loans debentures, etc.

Current liabilities, these are those liabilities which are payable in near future (generally which one year) examples of
current liabilities are creditors bank overdrafts bills payable shorts term loans etc.
Assets: - assets are those resources that the business owns, Assets are thing of value owned

Assets can be classified to be: -

 Fixed assets fixed assets are those assets which are purchased for purpose of operating the business and not for
resale examples of these are land building, machinery, furniture etc.
 Current assets current assets are those assets of the business which are kept for short term for converting into
cash or for resale unsold goods, debtors, bills receivables bank balance etc. are some of the example of current
assets.
 Debtors: - a person who owes money to the firm generally an account of credit sales of goods is called a debtor.
For example, when goods are sold to a person on credit.
 Creditors: - a person to whom the firm owes money is called a creditor for example, moan is creditor of the firm
when goods are purchased on credit form him.
 Receivables; - the term receivable includes the outstanding amount due from others.
 Payable: - the term payable includes the amount due to others. Sometimes a business accepts a bill of exchange
which is payable after a given period.
 Stock: - the stock may be opening and closing stock. The term opening stock means goods lying unsold in the
beginning of the accounting year whereas the term closing stock means goods lying unsold at the end of the
accounting period.
 Prop writer: - the person who makes investment and bears all the risks considered with the business is called
prop writer.
 Drawings: - it is the amount of money or the value if goods which the promoter takes for his domestic or
personal use.
 Revenue: - revenue means the amount which as a result of operation is added to the capital revenue is an inflow
of assets in an increase in the owner’s equity examples of revenue are receipts from the sale of goods rent
income etc.
 Expanse: - expense is the amount spent in order to produce and sell the goods and services which produce the
revenue expense is the cost of the use of tings or services for the purpose of generating revenue example are
payment of series wages rent etc.

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Income: - income is the profit earned during a period of time in other words the difference between revenue
and expanse is called income for example goods. i.e. rupees 21000 is venue and the difference I.e. Rs 6000 is
income if can therefore be expresses as

Income = Revenue
Gain: - it us a term used to describe profit of an irregular nature, e. g Capital gains.
Loss: -loss means something against which the firm receives no benefit. It may be noted that expenses lead to
revenue but losses do not, such as theft.
Purchase: - the term purchase is used only for the purchase of goods. goods are those thing which are purchased
for resale or for producing the finished products which also are meant to be sold. Goods purchased for cash are
called cash are called cash purchase but if goods are purchase on credit. It is referred to as credit purchase the
term purchase includes both cash and credit purchase of goods.
Sales: - this term purchase is only for the sale of goods only when goods are sold for cash. They are cash sales
but if goods are sold and payment is not received at the time of sale. It is referred to as credit sale. The then sale
includes both ash and credit sales.
Goods: - goods mean physical seems of trade. It is a general term which applies to all the item making the sales
or purchase of a business.
Cost: - cost is an expenditure required in order to produce some specified output or benefit.
Profit: - a surplus of revenues of business over its costs. Profit is normally categorized into gross profit and net profit.
voucher: - voucher is an evidence of a business transaction examples of voucher are cash memo. Invoice or bill. Receipt and debit and
credit notes etc.
gross profit: - gross profit is the difference between sales revenue or the proceeds of goods sold and services rendered over its direct
cost.
Net profit: - net profit is the profit made after allowing for all expenses in case. Expense are more than the revenue. It is net loss.
Cost of goods sold: - cost of goods sold is the direct costs of the gods the direct costs of the goods or services sold.
Expenditure: - expenditure is the amount spent or liability incurred for the value received expenditure may be cite Gorazde into.
 Revenue expenditure: - revenue expenditure is the amount that is current activities to purchase goods and
service which are consumed during the period. It is written off in the profit and loss account.
 Capital expenditure: - capital expenditure is the amount that is incurred in purchasing assets which will give
benefit extending over a number of accounting periods.
 Discount: -when customer is allowed type of reduction in the prices of goods by the business that is called
discount when some is allowed in prices of goods on the basis of sales of the items that is called trade discount
but when debtors are allowed some discount in prices of the goods 0for quick payment it is called cash discount.
 Voucher: - a voucher is a document containing the details of financial transaction example includes sales invoice, purchase invoice, pay
slip, and rent receipt and so on.
 Journal: - in a journal several entries are recorded. Each journal entry must be moved/transferred from the account it relates to.
 Account: - an account is a statement of transactions affecting any particular assets, liability expense or income. A ledger is the book in
which a lithe account is maintained. A chart of business shows the categorizations and grouping of its accounts.
 Posting: - posting is the process by which information about transaction is transferred or move to an account.
 Accounting period: - a regular period of time, such as a quarter of a year, for which a financial statement generating is called an
accounting period.
 Trial balance: - a trial balance is a list the balances of all ledger accounts. it is prepared after all the truncation are entered in the journal,
journal entries posted to the ledgers and ledgers accounts balance. It is the sum of all balance of all real, personal and nominal accounts
the organization.
A detailed trial balance has columns for
1) Account name
2) Debit balance
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3) Credit balance
Financial statement: -a financial statement is periodic report prepared from the accounting record of company. Financial
statement includes the profit and loss statement (or income statement. The balance sheet and the cash flow statement.
Financial statement is usually compiled. Of a quarterly basis or on an annual basis.

LEDGER GROUPS
[Link]. LEDGERS GROUP BALANCE

1 PURCHASE PURCHASE DR
2 PURCHASE REATURN PURCHASE CR
3 RETURN OUTWORD PURCHASE CR
4 CARRIGE INWARD DIRECT EXP DR
5 FRIEGHT INWARD DIRECT EXP DR
6 CARRIGE ON PURCHASE DIRECT EXP DR
7 COMM ON PURCHASE DIRECT EXP DR
8 WAGES DIRECT EXP DR
9 WAGES &SALARIES DIRECT EXP DR
10 CARTAGE DIRECT EXP DR
11 OCTORI DIRECT EXP DR
12 DOCK CHARGES DIRECT EXP DR
13 CUSTOM DUTY ON IMPORT DIRECT EXP DR
14 MOTIVE POWER DIRECT EXP DR
15 GAS WATER &OIL DIRECT EXP DR
16 GREASE DIRECT EXP DR
17 FUEL HEATING &LIGHTING DIRECT EXP DR
18 FACTORY EXP DIRECT EXP DR
19 FACTORY & INSURANCE DIRECT EXP DR
20 BOXES & LABLS DIRECT EXP DR
21 ROYALITIES BASED ON PRODUCTION DIRECT EXP DR
22 MANUFATURING EXP DIRECT EXP DR
23 RENT INDIRECT EXP DR
24 SALARY INDIRECT EXP DR
25 STATIONARY & PRINTING INDIRECT EXP DR
26 POSTAGE & PRINTING INDIRECT EXP DR
27 AUDIT FEES INDIRECT EXP DR
28 LEGAL CHARGES &LAW FEES INDIRECT EXP DR
29 TELEPHONE EXP INDIRECT EXP DR

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30 INSURANCE INDIRECT EXP DR

31 ENTERTAINMENTS EXP INDIRECT EXP DR
32 REPAIR & RENEWALS INDIRECT EXP DR
33 INTREST INDIRECT EXP DR
34 DEPRICATION INDIRECT EXP DR
35 SUNDRY TRADE EXP INDIRECT EXP DR
36 CONVEYNCE INDIRECT EXP DR
37 CHARITY INDIRECT EXP DR
38 BANK CHARGES INDIRECT EXP DR
39 OFFICE EXP INDIRECT EXP DR
40 ESTABLISHMEMENT EXP INDIRECT EXP DR
41 GEN EXP INDIRECT EXP DR
42 LICENCE FEES INDIRECT EXP DR
43 BROKRAGE INDIRECT EXP DR
44 UPKEEP OF CAR CARS & FIRE INDIRECT EXP DR
45 LOSS BY THIFT & FIRE INDIRECT EXP DR
46 COMMISSION INDIRECT EXP DR
47 ADVERTISEMENT INDIRECT EXP DR
48 FRIEGHT OUT INDIRECT EXP DR
49 CARRIGE OUT INDIRECT EXP DR
50 EXPORT DUTY INDIRECT EXP DR
51 DISCOUNT INDIRECT EXP DR
52 PACKAGING CHARGES INDIRECT EXP DR
53 STABLE EXP INDIRECT EXP DR
54 OFFICE LIGHINGS INDIRECT EXP DR
55 TRAVELLING EXP INDIRECT EXP DR
56 DISTRIBUTIVE EXP INDIRECT EXP DR
57 BAD DEBTS INDIRECT EXP CR
58 RENT FORM TENT INDIRECT EXP CR
59 DISCOUNT(CR) INDIRECT EXP CR
60 COMMISSION(CR) INDIRECT EXP CR
61 INTREST(CR) INDIRECT INCOME CR
62 BAD DEBTS RECOVERED INDIRECT INCOME CR
63 SUNDRY RECEIPT INDIRECT INCOME CR
64 SALES SALES CR
65 SALES RETURN SALES DR

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66 RETURN INWARD SALES DR

67 CAPITAL CAPITAL CR
68 DRAWING CAPITAL DR
69 SUNDRY CREDITORS SUNDRY CREDITOR CR
70 BILLS PAYABLE(B/P) CURRENT LIABILITES CR
71 BANK OVERDRAFT BANK OVERDRAFT CR
72 LOAN(CR) LOAN (LIABILITY) CR
73 RESERVE FUND RESURVE& SURPLUS CR
74 CASH IN HAND CASH IN HAND DR
75 BILLS RECEIVABLE (B/R) CURRENT ASSTS DR
76 BANK BANK DR
77 SUNDRY DEBTORS SUNDRY DEBTORS DR
78 LOAN & ADVANCE DR
LOAN (DR)
79 STOCK STOCK IN HAND DR
80 INVERSTMENT INVERSTMENT DR
81 FURNITURE & FITTINGS FIXED ASSETS DR
82 TOOLS FIXED ASSETS DR
83 PALNT & MACHINERY FIXED ASSETS DR
84 HORSES & CARTS FIXED ASSETS DR
85 LAND & BUILDING FIXED ASSETS DR
86 FREEHOLD/LEASEHOLD LAND FIXCED ASSETS DR
87 BUSINESS PREMISES FIXCED ASSETS DR
88 PATANTS AND TRADE MARKS FIXCED ASSETS DR
89 GOODWILL FIXCED ASSETS DR
90 OUTSTANDING EXP CURRENT LIABILITY CR
91 PREPAID EXP CURRENT ASSETS DR
92 PREPAID INCOME CURRENT ASSETS DR
92 INT ON CAPITAL INDIRECT EXP DR
93 INT ON DRAWING INDIRECT INCOME CR
94 PROV FOR BAD DEBTS(OLD) INDIRECT EXP CR
95 OUTSTANDING INCOME CURRENT ASSETS DR
96 PROV FOR DEB DEBTS (NEW) INDIRECT EXP DR
97 BAD DEBTS(NEW) INDIRECT EXP DR
98 UNEXPIRED INSURANCE CURRENT ASSTS DR
99 DISCOUNT ON DEBTORS INDIRECT EXP DR

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100 DISCOUNT ON CREDITORS INDIRECT INCOME CR

101 REPAIR INDIRECT EXP DR

102 RATES& TAXES INDIRECT EXP DR

FINAL ACOUNT
Q.1 PREPARE THE TRANDING & P&L ACCOUNT & BALANCE SHEET OF THE FOLLOWING BALANCES.

ITEM AMOUNT ITAM AMOUNT

Capital 3600 Salaries 600
Machinery 700 General expenses 200
Sales 8200 Rant 500
Purchase 4000 Purchase return 50
Sales return 100 Debtors 3000
Stock 1000 Cash 400
Drawing 400 Carriage outward 200
Wages 1000 Advertisement 200
Carriage inward 50 creditors 500
Closing stock 2000 -----------

ANS. (GROSS PROFIT Rs 4100, NET PROFIT Rs 2400, BALANCE SHEET Rs 6100

Q.2 YOU ARE REQUIRED TO PREPARE THE TRANDING &PROFIT LOSS AND BALANCE.
ITEM AMOUN ITEM AMOUNT
T
Sales 92000 Postage and telegram 620
Purchase 68300 Miscellaneous exp 900
Return inward 1300 Bad debts 400
Return outward 2200 Debtors 22000
Stock 17600 Creditors 12800
Carriage inward 2400 Loan cr 5000
Rent, Rates and Taxes 2200 Capital 52500
Discount 3750 Drawing 1910
printing 720 Business premises 39000
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Insurance 500 Office furniture 1500

Traveling Exp. 1400 Closing Stock 24000
Ans.: - Gross – 28600, Net Profit – 18110, Balance – 86500.

QUE.3 PREPARES A TRANDING PROFIT AND LOSS A/C AND BALANCE SHEET OF THE FOLLOWING BALANCE.
ITEM AMOUNT ITEM AMOUNT
Sales 78182 Bills Payable 2527
Purchase 62092 Salaries 4000
Machinery 10000 Fixtures and fittings 16155
Interest 1295 Debtors 3885
Stock 9945 Creditors 8720
Bad Debts 287 Capital 36000
Discount 1000 Insurance 417
Buildings 23780 Postage 273
Wages 4300 Loan cr 12000
Closing Stock 14300 -----------------
Gross Profit – 16145, Net Profit – 8873, Balance Sheet– 68120.
QUE.4 PREPARE THE TRANDING PROFIT AND LOSS A/C AND BALANCE SHEET
ITEM AMOUNT ITEM AMOUNT
Sales 12439 Bills Payable 4827
Purchase 10492 Salaries 1400
Bills receivable 3291 Debtors 8100
Stock 2720 Creditors 7681
Commission(cr) 390 Capital 18000
Discount(cr) 627 Insurance 119
carriage 400 Postage 132
Wages 1510 Depreciation 600
Return inward 1000 Cash in hand 1400
Return outward 1200 Machinery 6710
Building 5290 Cash At Bank 1900
Closing Stock = 7929
Gross – 5446, Net Profit – 4112, Balance – 34620.
QUE.5 PREPARE THE TRANDING PROFIT AND LOSS A/C AND BALANCE SHEET

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ITEM AMOUNT ITEM AMOUNT

Sales 15450 Bills Payable 200
Purchase ret 125 Salaries 3300
Bank old 2850 Sundry Debtors 3800
Stock 3460 Furniture 640
Commission(cr) 175 Purchase 5575
Capital 12890 Sundry creditor 2500
[Link] 782 Interest 118
Taxes & insurance 1250 advertisement 450
Sales return 200 Cash in hand 650
Bad debts 125 Motor vehicle 6250
Building 7590 Closing Stock 3250
ANS. GROSS – 9590, NET PROFIT- 3740, BALANCE – 22180
QUE. 6 PREPARE THE TRANDING PROFIT AND LOSS A/C AND BALANCE SHEET
ITEM AMOUNT ITEM AMOUNT
Sales 127000 Bank charges 75
Purchase 58000 Salaries 6800
Closing stock 35000 Sundry Debtors 45000
Stock 40000 Sundry Creditors 25000
Sales return 1000 Capital 110000
Discount receive 800 Fright in 750
Rates & taxes 2000 Fright out 1200
Wages 10000 Advertisement 2000
Purchase Return 1275 Cash in bank 6900
Discount allowed 350 Flat &machinery 90000
ANS. ANS. GROSS – 53525, NET PROFIT- 41900, BALANCE – 176900
QUE. 7 PREPARE THE TRANDING PROFIT AND LOSS A/C AND BALANCE SHEET
ITEM AMOUNT ITEM AMOUNT
Sales 170000 Land & building 100000
Purchase 100000 Salaries 20000
Closing stock 100000 Sundry Debtors 15000
Stock 50000 Sundry Creditors 70000
interest 2000 Capital 250000
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Bills receivable 20000 Office exp 25000

Rent 16000 Drawing 20000
Wages 30000 Bills payable 40000
Bad debts 5000 Cash in hand 40000
Repair 3000 Flat &machinery 57000
Furniture & fixture 15000 Deprecation 10000
Rates & taxes 20000
ANS. GROSS – 90000, NET PROFIT- 23000, BALANCE – 363000
QUE. 8 PREPARE THE TRANDING PROFIT AND LOSS A/C AND BALANCE SHEET
ITEM AMOUNT ITEM AMOUNT
Sales 900000 Land & building 120000
Purchase 600000 Cash at bank 60000
opening stock 200000 Sundry Debtors 100000
Stock 50000 Sundry Creditors 120000
interest 10000 Capital 500000
Bills receivable 4000 Trade exp 30000
Rent 12000 Drawing 10000
Wages & salaries 60000 Bills payable 30000
Bad debts 4000 Cash in hand 100000
Repair 10000 plant &machinery 100000
Furniture 50000 Purchase return 10000
CLOSING STOCK:- (140000)
ANS. GROSS- 190000, NET PROFIT- 160000, BALANCE – 800000
QUE. 9 PREPARE THE TRANDING PROFIT AND LOSS A/C AND BALANCE SHEET
ITEM AMOUNT ITEM AMOUNT
Sales 127500 Bank charges 100
Purchase 60000 Salaries 7000
Opening stock 40000 Sundry Debtors 45000
Closing Stock 35000 Sundry Creditors 25000
Sales return 2000 Capital 113075
Discount receive 800 Fright in 1000
Rents & taxes 2000 Fright out 1200

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Wages 10000 Advertisement 2000

Purchase Return 1275 Cash in bank 7000
Discount allowed 350 Flat &machinery 90000
ANS. GROSS- 50775, NET PROFIT- 38925, BALANCE – 77000

QUE. 10 PREPARE THE TRANDING PROFIT AND LOSS A/C AND BALANCE SHEET
ITEM AMOUNT ITEM AMOUNT
Sales 24900 Reparse to plant 160
Purchase 11850 Loan (cr) 900
Opening stock 9600 Debtors 4000
Closing Stock 3500 Creditors 2330
Trade exp 20 Capital 113075
Bills receive 600 Income tax 550
Rent 200 Plant 2000
Bad debtors 500 Bill payable 500
Common Purchase 200 Cash in bank& hand 200
Discount of purchase 400 Drawing 650
ANS. GROSS- 3250, NET PROFIT- 2220, BALANCE – 10300

JOURNAL ENTRY
DATE TRANSACTION AMOUNT
1 April Ramesh started business with cash 10000
2 April Paid into bank 7000
3 April Bought goods for cash 500
4 April Draw cash from bank for office use 100
13April Sold to Krishna on credit 150
20 April Bought shyam goods on credit 225
24April Received from Krishna 145
24 April Allow him discount 5
26 April Paid shyam cash 215
28April Discount received 10
30April Cash sales for the month 800

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30April Paid rent 50

30April Paid salary 100
ANS: -10080

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DATE TRANSACTION AMOUNT

1 April Komal started business with cash 1,00,000
2 April Bought goods for cash 30,000
3 April Open bank account with cash 50000
4 April Sold goods for cash 40000
7 April Bought goods from surya on credit 30000
10 April Sold goods to rakesh on credit 2500
15 April Purchase plant and machinery and payment are made 6600
by cheque
19 April Paid to surya in cash 10,000
21 April Received loan form anil and deposited the same into 8000
bank
23April Good returned to surya 1000
26 April Wash drew form bank for personal use 5000
27 April Paid to surya by cheque 8000
29April Received cash from rakesh 10,000
30April Purchased stationary for cash 200
30April Paid wages and salaries 10,000
ANS: -
DATE TRANSACTION AMOUNT
1 march Started business with cash Rs 3000 goods worth Rs
1500 and furniture worth Rs 20000
2 march Paid into bank 20000
3 march Bought goods from Mohan on credit 7000
4 march Sold goods to goyal bro on credit 6000
5 march Brought a horse far rs 10000 for delivery goods to
customers
7 march Received from a traveling sales man 3000 for goods
sold by him after deducting traveling expenses rs
150
9 march Drawn a cheque for rs 800 for personal use
10 march Goyal bros gave cheque deposited into bank 6000
11march Paid to Mohan bros by cheque 6700discount allow by
him300
13 march Paid of repairing of furniture 200
13 march Received an order for goods from Mahesh 3000
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14 march Sold old newspapers 80

15 march Interest received from bank 400
16 march Paid rs 300 for expenses on goods for sold to goyal
bros. this amount realized from goyal bros.
19 march Bought goods from sohan lal & sons 400 paid cartage
on these goods 50
20 march Bank intimates that cheque of goyal bros has been
return unpaid
21 march The horse brought on march 5 died it carcass was sold 500
for rs
22 march Paid rent by cheque 600
23 march Salaries for the month of February remain unpaid 300
25 march Paid municipal taxies in cash 800
31 march Deprecation charges on furniture 1090 per amount
received an order for goods rs 3000 from shyam and
shyam and receivers 1000 as advance
ANS: -
DATE TRANSACTION AMOUNT
Jan 1 Assets cash in hand rs 200 cast at bank 6900
stock of goods rs 4000 machinery rs 10000
furniture rs 1000 M/S narain bros owe rs 1500
M/S. B/K bros owe rs 2500 liabilities loan rs
5000 sum owing to Jacob bros ltd rs 2000
Jan 2 Bought goods on credit from Samuel & co 1000
Jan 3 Sold goods for cash from dhiraj & co 400
Jan 4 Sold goods to narain bros on credit 1000
Jan 5 Received from narain bros in full 1450
statement of amount due on 1 jan
Jan 6 Payment made to Jacob bros ltd by 25
cheque 975 they allow dis
Jan 9 Old furniture sold for cash 100
Jan 10 Bought goods for cash 750
Jan 11 b.k bros paid by cheque ,cheque deposited into 2500
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bank
Jan 11 Paid for repair of machinery 100
Jan 13 Bought goods of Jacob bros ltd 1000
Jan 13 Paid carriage on these goods 50
Jan 16 Received cheque from narain bros and the cheque 950
deposited into bank
Jan 16 Discount allowed to them 50
Jan 17 Paid cheque to Jacob bros ltd 1000
Jan 18 Bank intimates that cheque of narain bros has been
return unpaid
Jan 19 Sold goods for cash to key bros 600

Jan 21 Cash deposited into bank 500

Jan 24 Paid municipal taxes in cash 100
Jan 25 Old newspaper sold 20
Jan 27 Paid for advertisement 100
Jan 28 Paid rent by cheque 150
Jan 31 Paid salaries for the month 300
Jan 31 Drew cash from bank for the private use 250
Jan 31 Narain bros become insolvent a dividend of 50 in the
rupee is received
Jan 31 An old amount written off bad debts in 2005 is 150
recovered
ANS: -
DATE TRANSACTION AMOUNT
JULY 1 Started business with cash 8000
JULY 1 Cash paid into bank 5000
JULY1 Bought stationery for cash 30
JULY 2 bought postage stamps 2100
JULY 3 Sold goods for cash 10

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JULY 5 Bought office furniture 750

JULY 6 Sold goods to Mahindra 500
JULY 11 Bought goods for cash 1000
JULY 12 Received cheque from Mahindra 1000
JULY 14 Paid Banerjee bros by cheque 500
JULY16 Sold goods to Ramesh co 500
JULY 20 Bought goods from s. narain & co 225
JULY 23 Bought goods from s. sethi & co 700
JULY 24 Sold goods to Prakash 350
JULY 26 Ramesh & co paid an account 250
JULY 28 Paid sethi & bros by cheque in full settlement 685
JULY 31 Paid salaries 250
JULY 31 Paid rent to Sharma 100
ANS: -

CASH BOOK
QUE. 1 PREPARE A SIMPLE CASH BOOK FROM THE FOLLOWING TRANSACTION OF MR. RAM
GOPAL OF DELHI
DATE AMOUNT
2006
APRIL 1 Mr. ram Gopal commenced business with cash 8000
APRIL 3 He bought good for cash 5000
APRIL 5 Sold goods for cash 100
APRIL 6 Received cash from Mr. manharlal 360
APRIL 9 Paid into bank 3000
APRIL13 Paid cash to harikrishan 215
APRIL28 Paid rent 100
APRIL16 Sold goods for cash 1500
APRIL17 Paid for stationery 15
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APRIL18 Paid for office furniture 185

APRIL21 Received from kaliasnchand 680
APRIL22 Paid for advertisement 90
APRIL25 Purchase postage stamps 8
APRIL30 Paid electricity charges 15
ANS:-(CASH BALANCE: -2012)
QUE. 2 PREPARE A SIMPLE CASH BOOK FROM THE FOLLOWING TRANSACTION OF MR. RAM
GOPAL.
DATE AMOUNT
2006
APRIL 1 Mr. Ashok commenced business with cash 350000
APRIL 2 He bought good for cash 22000
APRIL 6 Purchase goods from gupta &co. on credit 20000
APRIL 8 Cash sales 75000
APRIL10 Paid rent 1200
APRIL18 Purchase building 30000
APRIL21 Sold goods for cash 9900
APRIL22 Sold goods to Vijay on credit 20000
APRIL25 Paid salaries 10000
APRIL28 Paid wages 5500
APRIL30 ReceivedVijay 12000
(ANS: - CASH BALANCE: - 108200)
QUE. 3 PREPARE A SIMPLE CASH BOOK FROM THE FOLLOWING TRANSACTION OF MR. RAM
GOPAL.
DATE AMOUNT
2006
APRIL 1 Cash balance 1879
APRIL 2 Received cash from s.k agarwal 3400

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APRIL 4 Purchase a radio set for privet use 1000

APRIL 5 Purchase goods for cash 1500
APRIL 6 Cash sales 1860
APRIL 6 Paid wages 150
APRIL8 Received from mukesh Chand 1000
APRIL21 Paid gen. exp 14
APRIL28 Paid for stationary 25
APRIL30 Paid for charity 5
APRIL 9 Paid Naresh Chand in full sentiment of his account rs 225
250
APRIL12 Paid for v.v.p cf goods from Chandigarh 243
APRIL13 Sent money order to Satish Chand 150
APRIL13 Money order for commission 2
APRIL14 KrisChand paid to us 1236
APRIL14 Discount allowed 13
APRIL18 Cash purchase 290
APRIL24 Received from anand Prakash 280
APRIL30 Paid water bill 10
APRIL30 Purchase transistor for his son 200
(ANS: - CASH BALANCE: - 5841)
TWO- COLUMN CASAH BOOK (CASH BOOK COLUMN)
QUE. 4 PREPARE A SIMPLE CASH BOOK FROM THE FOLLOWING TRANSACTION OF MR. RAM
GOPAL.
DATE AMOUNT
2006
APRIL 1 Cash balance 500
APRIL 1 Bank balance 1750
APRIL 5 Cash received from sales of shares 5500

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APRIL6 paid into bank 5000

APRIL 7 Paid S Bose by cheque 1250
APRIL 9 Paid wages 300
APRIL20 Received from a Mukherjee by a cheque and sent to 600
bank
APRIL21 Drawn from bank 500
APRIL29 Paid office salaries in cash 400
APRIL30 Sold goods for cash and banked the same 800
APRIL30 Paid rent by cheque 100
APRIL30 Paid into bank 750
(ANS: -CASH BALANCE: - 50 BANK BALANCE, RS 7050)
QUE. 5 PREPARE A SIMPLE CASH BOOK FROM THE FOLLOWING TRANSACTION OF MR. RAM
GOPAL.
DATE AMOUNT
2006
JAN 1 started business with cash 20000
JAN 2 Opened current account with the Punjab national bank 8000
JAN 3 Bought goods by cheque 150
JAN 4 Received cheque from rama 200
JAN 5 Sold goods for cash 40
JAN 9 Paid into bank cash Rs. 30 cheque RS. 200 230
JAN 8 Paid shyam by cheque 345
JAN 8 Paid carriage by cheque 180
JAN 10 Draw from bank cash for office 200
JAN 30 Paid wages by cheque 60
(ANS: -CASH BALANCE: - 12210, BANK BALANCE. Rs. 7295)
QUE. 6 PREPARE A SIMPLE CASH BOOK FROM THE FOLLOWING TRANSACTION OF MR. RAM
GOPAL.
DATE AMOUNT
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2006
APRIL 1 He had cash in bank 35000
APRIL 5 Opened a bank account 28000
APRIL12 Received from Sunil 9000
APRI12 Paid to rakesh by cheque 6000
APRIL18 Purchase made in cash 4000
APRIL18 Paid rent 500
APRIL29 Paid electricity bill 400
APRIL30 Purchase from shri n ray 5000
APRIL31 Purchase stationery 200
APRIL18 Withdrawn from bank 8000
APRIL26 Received cheque from gupta 12000
APRIL27 Paid salaries in cash 3000
APRIL28 Purchase a typewriter and paid by cheque 5000
APRIL28 Purchase in cash 1500
APRIL29 Sent to bank a cheque received from me. Mishra 5600
APRIL30 Cash sales 9800
APRIL31 Sold to Mr. bhola 4000
APRIL Deposited in bank A/C 5500

(ANS: - CASH BALANCE: - 18700 BANK BALANCE, RS. 32100)

COST CATEGORY & CENTER

Q.1PASS THE VOUCHER WITH COST CATE GORY AND CENTERS.
DATE TRANSACTION
MAY 1 Purchase goods for cash 10000 abc& co. Rs 6000 ram &sons. 4000
MAY 5 Sold goods for cash 17500 shyam Rs 5000Krishna Rs. 8000 hari Rs 4500
MAY9 paid rent 8000 go down Rs. 4500 factory Rs 2000 office Rs 1500
MAY12 paid for advertisement Rs 12400 TV Rs 6000 radio RS 2000 newspaper
Rs4400

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MAY14 Paid fright Rs 5000 train rs3600 bus Rs 1400

MAY20 Cash sales 10000 Krishna put. Ltd. Rs 4500 ashok & sons Rs. 5500

MAY25 Paid salary 20000 manager Rs 8000 sec. Rs 5000 peons Rs 7000

Q.1PASS THE VOUCHER WITH COST CATE GORY AND CENTERS.

DATE TRANSACTION
MAY 1 Purchase goods for cash 20000 Rajiv & co. Rs 8000 sohanlal &sons. 8000
T. R. & sons Rs 4000
MAY 6 Sold goods for cash 12000 Krishna Rs 5000 Harish Rs 5000 vijender Rs
2000
MAY 9 paid rent 18000 go down Rs. 7000 factory Rs 9000 office Rs 2000
MAY12 paid for advertisement Rs 10000 TV Rs 6000 radio RS 2000 newspaper
Rs4000
MAY14 Paid fright Rs 8000 train Rs 6000 bus Rs 2000
MAY20 Paid salary 30000 manager Rs 10000 sec Rs 15000 peons Rs 5000

BILL WISE DETAIL

Q.1 journalism the entry in the book of both parties and maintain bill wise detail
DATE TRANSACTION
1 APRIL Ram purchase goods from shyam Rs 15000 as per bill no. 100
2 APRIL Ram paid Rs 3500 to shyam against o/d bill no 100
1 MAY Ram again purchase goods 7000 from shyam against as new bill no 10
1 JUN Ram paid Rs 5000 to shyam against all bill no 10
2 JUN Shyam demand pending balance from ram but does not pay the balance.
Due to this shyam charge @ 5.5% interest on the pending balance from
ram

Q.2 journalism the entry in the book of both parties and maintain bill wise detail
DATE TRANSACTION

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1 AUG Ramesh paid cash Rs 20000 to Harishas per advance bill no 101 for
future working.
2 AUG Ramesh purchase goods Rs 5000 from Harishagainst o/d bill no 101.
31AUG Ramesh again purchase goods 7000 from Harish against old bill no 101.
2 SEP Ramesh purchase Rs 2000 to from against old no 101.
1 OCT Ramesh paid Rs 4000 to shyam old bill no 101.
1NOV Ramesh demand the pending balance from Harish. But Harish does not
pay the balance. Due to this Ramesh allowed @2.5% discount on the
pending balance.

Q.2 journalism the entry in the book of both parties and maintain bill wise detail
DATE TRANSACTION
1 AUG Mohan paid cash Rs 10000 to Krishna as pet advance bill no 101 for
future working
2 AUG Mohan again purchase goods Rs 7000 from Krishna against old bill no
101
2 AUG Mohan again purchase goods 3000 from Krishna against old bill no 101.
1 OCT Mohan again purchase goods 2000 from Krishna against old bill no 101.
1NOV Krishna demand thependingbalance from Mohan. But Mohan does not
pay the balance. Due to this Krishna charged @3% interest on the
pending balance.

PURCHASE BOOK
Q.1 prepare purchase book from the following transaction: -
DATE TRANSACTION
2006
MAY 1 Bought goods from m/s chunnilal man raj. Delhi 100 bags of wheat @ Rs
530 per bag 50 bag of rice basmati @500 per bag lass. 10% trade
discount
MAY 3 Bought from M/S kanodia oil mills. Delhi 40 tins oil @Rs 450 per tin 20
tin
MAY 4 Purchase from M/S Gupta Bros. Hapur25 bags gram @Rs 48 per bag 40
bags oats @ Rs 25 per bags Less 5% Trade discount
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(Total of purchase book Rs. 96040)

Q.2 Record in Rakesh & co’ purchase book open ledger Account,
Including purchase Account and post items.
DATE TRANSACTION
2006
APRIL 1 Bought goods from M/s Hari stores Ltd.
4 Oval Mirrors in Gilt @ Rs .400
APRIL 7 Bought from M/s Mohan Bros 6 Oak Wireless cabinets @350
APRIL Purchase from M/s Hari stores Ltd.
15 6 Gilt Convex Mirrors @ Rs 450
APRIL Bought from M/s BimaL&Co Ltd.
22 2 Carved Walnut Cabinets @Rs.1,020
APRIL Bought from M/s & sons
29 4 Oak Wireless Cabinets @ Rs. 350
(Total Purchase, Rs.9840)
Q.3 Varma Bros carry on business on wholesale cloth dealer. From the
Following write up their purchase book for January 2006.
DATE TRANSACTION

JAN 3 Purchase on credit from M/s Birla Mills.

100pcs long cloth @Rs 80
50pcs shirting @Rs 100
JAN 8 Purchase cash from M/s Ambala mills
50pcs muslin @Rs120
JAN 15 Purchase on credit from M/s Arvind mills
20pcs coating @Rs 1000
10pcs shirting @ Rs90
Jan 20 Purchase 5 typewriters on credit
M/s bharat typewriter Ltd .@ Rs 1400 each
(Total of Purchase Book, Rs33900)
Q.4 M/s Ratan Chand &sons, who are dealers in readymade garments,
purchase the following
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DATE TRANSACTION
2005
Dec 1 Purchase from M/s Prakash Chand & sons. Bombay
100 Shirts @ Rs 175 per shirt
50 Tee- shirt @ Rs 100 per shirt
Less. T Discount 15%
Purchase from M/s AN Gupta sons
5 chairs @ Rs.500 per chair
JAN 15 Purchase from M/s Gyan Prasad& sons
20Bush-shirt 2 Rs.150 per pcs
75 tee-shirt @ Rs.90 per pcs
Less [Link] 12.5%
Purchase From M/s Raj Kumar& sons
JAN 25 25 shirts @ Rs. 165 per shirts
(Total of Purchase Rs, 31,781,25)

SALES BOOK
Q.1 Prepare a sales book from the following Transactions.
DATE TRANSACTION
2006
APRIL 1 Sold goods M/s Gupta Furniture house Delhi
120 chairs @ 550 per chair
40 table @Rs750 per table
Less 5%
April Sold to M/s Ajit Singh&Sons, Amritsar
10 150 Desk @ Rs 225 PR desk
160 chairs@ Rs 225 per chair
Less: trade Discount of 5%

APRIL Sold to M/s Ideal Furniture House, Patila

15 10 sofa sets @ Rs 7,500 each
5 Almira @ Rs 750 each
25 office table@ Rs. 850 each

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Less 10 %
(Total of sales book Rs.2,47,462,50)

Q.2 from the following particulars prepare sales book of M/s Gyan
Prasad& Bros Delhi in Stationery.
DATE TRANSACTION
2006
APRIL 1 Sold goods M/s stationery Mart on credit
2ream white paper @ Rs.150 PR ream
APRIL 2 Sold to M/s Puran Chand & co.
6 dozen inkpot @ Rs 120 PR dozen.
APRIL Sold old newspaper for cash Rs. 62
10
APRIL Sold on credit to M/s Rahim & co
25 10 drawing board @ Rs. 70 PR pcs.
APRIL Sold to M/s Jag dish& sons on credit
26 2 transistors’ Janta Model’ @ Rs. 85 PR pcs
APRIL Sold to M/s Kay Cee&Co. on credit
30 4 office Table @ 520 PR table.
(Total of sales book Rs. 1,720)

Q.3 From the following Particulars Prepare a sales book of Gupta & Co.
who deals in furniture.
DATE TRANSACTION
2006
JULY 1 Sold on credit to Hari& co.
10 tables @ Rs. 1100
20 chair@ Rs. 650
JULY Sold to M/s Sharma & co. on credit.
10 5 Amirah’s @ Rs. 1150
5 stools @ Rs. 100

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JULY20 Sold old typewriter for Rs 500 to Raja & co, on credit
JULY25 Sold to M/s SohanLal& Bros on credit;
5 table @ Rs. 575
1 revolting chair 2 Rs. 1750

(Total of sales book Rs. 34, 875)

PURCHASE AND SALES BOOK

Q.1 Prepare a sales book from the following Transaction.
DATE TRANSACTION
2006
JAN 1 Bought from M/s Uma Datt. Bombay, on credit
100 copies Double Entry Book-Keeping by T.S Grewal @ Rs.80
100 copies Business Method Without Tears by O.P Goela @ Rs. 50

JAN 2 Sold to M/s Dyal,

24 copies double Entry Book-Keeping @ .85
25 copies Business Method Without tears @ 57
JAN 6 Bought from S, Chand, Delhi
40 copies Economics by K.K Dewet @ Rs.80
Less; 15% Trade Discount
JAN 12 Sold to Gupta Bros.
20 copies Economics @ Rs. 80
JAN 18 Sold to Ram Saran Das
20 copies Double Entry Book-Keeping @ Rs.85
JAN 22 Bought fromRajAli, Agra
100 copies M.S.L.C Arithmetic @ Rs.45
Less; Trade Discount 20%
JAN 25 Bought from Hari Ram, Delhi
50 Copies History of England @ Rs.50
Less; trade discount 15%
JAN 31 Sold to Rishi Kumar
25 copies M.S.L.C Arithmetic @ Rs.45
(Total of purchase Book, Rs. 21,445; sales book Rs.7, 850)

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PURCHASE RETURN
Q.1 Prepare purchase return Book of Aruna stores from the
following Transaction and post them into ledger also.
DATE TRANSACTION
2006
JAN 10 Return to Sohan& sons;
1 roast Fan 362 @ Rs.1250
Trade discount 10 %
JAN 25 Return to Ram 7 co.
1 doz. Lamp-Holders @ Rs 200 PR Doz.
(Total of purchase return book Rs 1, 325)
SALES RETURN
Q.2 prepare a sales Return book of shiv Shankar from the
Following Transaction and post them into ledger.
DATE TRANSACTION
(Total
2006 of sales
FEB 10 Ramesh Brothers, Return Return
1doz. Osram Lamp 25 W @Rs. 160 PR doz. Book
Reason –breakage due to bad packing
FEB 20 Sohan Singh& Co, Return
1 Ranjit Fan 48 A.C.@ 1400
Reason-breakage due to bad packing
Rs.1560)

RETURN INWARD AND OUT WARD BOOK

Q1Prepare Return Inward and Return Outward Books from the
following Transaction;
C TRANSACTION
MARCH Mathur Bros, New Delhi, Return
1 5 pairs of shoes for being defectives. 500 or pair

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Less, Trade Discount 10%

MARCH Mathur Bros, New Delhi, Return

5 5 pairs of shoes for being not up to the approved sample @ 150 PR pair
Less; Trade Discount 10%

MARCH Baluja Shoes Co. Delhi Return

12 12 pair of Ladies Chapels @ Rs200 PR pair
Less; Trade Discount 10 %
MARCH Return toBata shoes PVT Ltd Calcutta
20 100 pair B S C Canvas shoes @175 PR pair
Less ;Trade Discount 15%
MARCH Sethi Bros Krishna Nagar, Return
24 10 pair Sandals @250 PR pair
(Total of Return OutwardBooks, Rs.27675; and Return
Inward Book,6910)

INVOICE
Q.1Maintain the invoice from the following statement.
Particulars Items Qty Rate(Rs)
Purchase Order Shirts 2000 600
Receipts Note Shirts 1750 600
Rejection Order Shirts 100 600
Purchase bill Shirts 600

Q.2Maintain the invoice

Particulars Items Qty Rate(Rs)
Purchase Order Jeans 2000 500
Receipts Note Jeans 1500 500
Rejection Order Jeans 200 500
Purchase bill Jeans 1000 500

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Q.3Maintain the invoice

Particulars Items Qty Rate(Rs)
Sales Order Printer 0000 4500
Delivery Note Printer 5200 4500
Rejection Order Printer 400 4500
Sales bill Printer 4800 4500

Q.4Maintain the invoice

Particulars Items Qty Rate(Rs)
Sales Order Shoes 5000 600
Delivery Note Shoes 4200 600
Rejection Order Shoes 200 600
Sales bill Shoes 4000 600

Q.5Maintain the invoice

Particulars Items Qty Rate(Rs)
Purchase Order Fan 8000 1200
Receipts Note Fan 7600 1200
Rejection Order Fan 150 1200
Purchase bill Fan 7450 1200
Sales Order Fan 7500 1350
Delivery Note Fan 7000 1350
Rejection Order Fan 350 1350
Sales bill Fan 6650 1350

(FINAL ACCOUNTS WITH ADJUSTMENT)

Q.1 Prepare the Trading & P &L Account & Balance sheet of the
following balances.
ITEMS AMOUNT ITEMS AMOUNT
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Capital 3600 SALARIES 600

Machinery 700 General 200
Expenses
Sales 8200 Rent 500
Purchase 4000 Purchase 50
Return
Sales return 100 Debtors 3000
Stock 1000 Cash 400
Drawing 400 Carriage 200
Outward
Wages 1000 Advertisement 200
Carriage Inward 50 Creditor 500
Closing Stock 2000
ADJUSTMENT: -
1) Wages outstanding Rs. 1000
2) Salaries outstanding Rs. 400
3) Rent outstanding Rs. 500
ANS: - gross profit Rs 1300 net profit Rs 500 balance sheet Rs 6100.

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Q.2 Prepare the Trading & P &L Account & Balance sheet of the
following balances.
ITEMS AMOUNT ITEMS AMOUNT
Capital 10000 BANK 1500
Account
Machinery 3500 Sundry 200
Expenses
Sales 14500 Rent 450
Purchase 9500 Carriage 150
Debtors 2700 Creditor 1400
Stock 2000 Closing Stock 300
Drawing 900 Wages 5000
ADJUSTMENT:
1) Prepared wages Rs 500
2) Outstanding rent Rs 450
3) Outstanding carriage Rs 350
ANS: - gross loss Rs 1700 net loss Rs 2800 balance sheet Rs 8500.
Q.3 Prepare the Trading & P &L Account & Balance sheet of the
following balances
ITEMS AMOUNT ITEMS AMOUNT
Closing stock 35000 Cash in Bank 6900
Plant & 90000 Fright Out 1200
Machinery
Purchase 58000 Rent Rates & 2000
Taxes
Sales return 1000 Advertisement 2000
Stock 40000 Fright in 750
Discount 350 Capital Account 110000
allowed
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Bank Charges 75 Sales 127000

Sundry debtors 45000 Purchase Return 1275
Salaries 6800 Discount 800
Received
Wages 10000 Sundry Creditors 25000
Q.4
Prepare the Trading & P &L Account & Balance sheet of the following
balances
ITEMS AMOUNT ITEMS AMOUNT
Furniture 640 Bank old 2850
Motor Vehicle 6250 Purchase 5575
Building 7590 Sales Return 200
Bad Debts 125 Taxes & 1250
Insurance
Sundry Debtor 2800 General Exp 782
Stock 3460 Salaries 3300
Sundry 2500 Capital 17890
Creditors
Furniture 640 Bank old 2850
Motor Vehicle 6250 Purchase 5575
Building 7590 Sales Return 200
Bad Debts 125 Taxes & 1250
Insurance
Furniture 640 Bank old 2850
Motor Vehicle 6250 Purchase 5575
Building 7590 Sales Return 200
Bad Debts 125 Taxes & 1250
Insurance
Advertisement 450 Purchase Return 125
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Interest 118 Commission (Cr) 175

Cash I n hand 650 Closing Stock 3250
Drawing 5000
ADUSTMENT: -
1) Interest on Capital Rs 1000
2) prepaid salaries Rs 1200
3) Interest on Drawing Rs 500
4) AccurateCommission Rs 500
Ans: gross Profit 9590 net profit 4940 balance sheet Rs 23880

G.S.T [GODS AND SERVICE TAX]

Q1. Apply GST on all these following the question.
PURCHASE BILL:-
DATE TRANSACTION

2018 PURCHASE FROM M/S PRAKESH CHAND & SONS DELHI 100 SHIRT @
APRIL 1 Rs 500 per shirt
50 T-SHIRT @Rs 400 T-SHIRT
G.S.T :- 5%
APRIL 5 PURCHASE FROM M/S GYAN PRASAD, DELHI 40 BUSH -SHIRTS @ RS
600 PER PCS. 30 T-SHIRTS @RS 400PER PCS.
G.S.T :- 5%
APRIL 10 PURCHASE FROM M/S GUPTA &CO, DELHI
50 JEANS@ RS. 700 PER PCS
20 SHIRT @RS. 500 PER PCS
G.S.T :- 5%

SALES BILL: -
DATE TRANSACTION

2018 SOLD TO M\S ANIL & CO DELHI

APRIL 12 100 SHIRT@ RS 600 PER PCS.
50 T- SHIRT@ RS 500 PER PCS.
G.S.T :- 5%

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APRIL 15 SOLD TO M\S SUNIL & CO. DELHI

40 BUSH- SHIRT @ RS 700 PER PCS
30 T- SHIRT @ RS 500 PER PCS
G.S.T :- 5%
APRIL 20 SOLD TO M\S RAM & CO DELHI.
50 JEANS @ RS 800 PER PCS
20 SHIRT @ RS 600 PER PCS
G.S.T 5%
Q2: - PURCHASE BILL
DATE TRANSACTION

2018 PURCHASE FROM M/S RAHUL & CO DELHI

MAY-1 20 FAN @ RS 2000 PER PCS
10 COOOLER @ RS 5000 PER PCS
G.S.T :- 18%
MAY-5 PURCHASE FROM M/S RAM & CO DELHI
10 T.V.@ RS 10000 PER PCS
G.S.T :-18%

SALES BILL
DATE TRANSACTION

MAY-10 Sold to M/s Punit& Co. Delhi

20 Fan @ Rs.2500 Per Pcs.
10 Cooler @ Rs. 6000 Per Pcs.
G.S.T:- 18%
MAY-15 Sold to M/s Shyam& Co. Delhi
10 T.V. @Rs. 12000 Per Pcs.
G.S.T:-18%

Q.3 PURCHASE BILL

DATE TRANSACTION
2018
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JUNE- 1 Purchase from M/s Honda & Co. Delhi

10 Bike @ Rs. 60000 Per Pcs.
G.S.T:- 28 %
JUNE- 4 Purchase from M/s Hero & Co. Delhi
20 Activa @ Rs. 60000 Per Pcs.
G.S.T:- 28 %

SALES BILL
DATE TRANSACTION
2018
JUNE- 10 Sold to M/s R.k. & Co. Delhi
10 Bike @ Rs. 65000 Per Pcs.
G.S.T:- 28 %
JUNE- 4 Sold to M/s J.k. & Co. Delhi
20 Activa @ Rs. 65000 Per Pcs
G.S.T:- 28 %

TDS (Tax Deducted at sources)

Q.1 On 03-March, Sumega & Co. Submitted bill for Rs. 24000 towards
professional service
Rendered by them towards marketing survey. Find out the TDS & party Balance.
Q.2 On 01-May, An Advance payment of Rs. 60000 is made to Sohan & Sons
towards Technical fees through bank. TDS is deducted while making the payment
After receipts of the advance. Sohan and Sons Sent a bill of Rs 90000.
Pass the voucher and find out the TDS Balance.
Q.3 ABC Company has decided to pay an advance of 150000 to a party (Smart
Enterprises) for their service on advertisement for the year. The total Taxable
amount on Rs 150000 will be 1% as Tax, 2.50 % as surcharge and 2 % as additional
Surcharged after Dedicating the TDS.

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