Tally Financial Accounting Program Volume 1

Level 1o Nandini Kapur’s for the year 2004-05 are as follows. You are required to  Record the transactions.  Prepare financial statements. April 2004 SL.NO 1) 2) 3) 4) 5) 6) DATE 1-4-04 2-4-04 3-4-04 4-4-04 5-4-04 TRANSACTIONS Nandini Kapur started Universal Business Solution by bringing in cash of Rs. 3, 00,000. Ans. F6 : Receipt Dr. Cash Rs. 300000 Cr . Ms. Kapur capital a/c (current assets) Rs. 300000 Ms. Kapur paid Rs. 22,500 in cash to purchase a computer with preloaded Tally7.2. The computer does not have any disposal value are the end of its useful life of four years. All assets are to be depreciated using the straight-line method. Ans. F5 : Payment Dr. Computer (Fixed Assets) Rs. 22500 Cr. Cash Rs. 22500 Ms. Kapur opened a bank account with HDFC Bank, Bangalore for the firm by depositing cash of Rs. 1,00,000 Ans. F4 : Contra Dr. HDFC Bank (Bank Account) Rs. 100000 Cr. Cash Rs. 100000 Ms. Kapur had rented an office space for Rs. 2500 per on April 1, 2004 and has now security deposit of Rs. 25000 by cheque. Ans. F5: payment Dr. Security Deposit – office (Deposits (Assets)) Rs. 25000 Cr. HDFC Bank Rs. 25000 Ms. Kapuir hired Maya Nair as Manager – operation on a monthly salary of Rs. 7500. She also hired Vijay Narayan as Assistant Manager – marketing on a monthly salary of Rs. 4500 Ans. NOTE : NO entry is required for transaction. 10-4-04 Ms. Kapur made arrangement with Raj Travels so that at regular intervals she will receive bills for cab hire charges and tour expenses. Page 1 of 23 Level 1 7) 8) 9) 10) 11) 12) Ans. NOTE : NO entry is required for transaction. 15-4-04 Ms. Kapur issued cheques and purchased fixed assets. 1) A cell phone for office usages for Rs. 6000 (useful life 5 year) 2) Furniture for Rs. 20000 (useful life 6 year) 3) An Air conditioner for Rs. 20000 (useful life 6 year) 4) Electrical fittings for Rs. 15000 (useful life 10 year) The assets do not have any disposal value at the end of their useful life. Ans. F5 : Payment Dr . Cellular Phone (Fixed Assets) Rs. 6000 Dr. Furniture (Fixed Assets) Rs. 20000 Dr. Air conditioner (Fixed Assets) Rs. 20000 Dr. Electrical fittings (Fixed Assets) Rs. 15000 Cr. HDFC Bank Rs. 61000 16-4-04 Ms. Kapur obtained a mobile phone subscription with planet Telecommunication ltd. by paying a deposits of Rs. 3000 in cash. Ans. F5 : Payment Dr. Security Deposite – Phone (Deposit (Assets)) Rs. 3000 Cr. Cash Rs. 3000 20-4-04 Ms. Kapur purchased stationery consumables worth Rs. 12500 from Global House on credit. F7 : Journal Dr. Stationery Exp. (indirect Exp.) Rs. 12500 Cr. Global House (Sundry Creditors) Rs. 12500 21-4-04 Ms. Kapur entered into a contact with Silver Services for providing consultancy services at an agreed price of Rs. 75000. She received an advance of Rs.25000 by cheque. Ans. Create sub – group – Advance from Customers (under Current Liabilities) F6 : Receipt Cr. Advance Consulting Revenue (Advance from Customers) Rs. 25000 Dr. HDFC Bank Rs. 25000 23-4-04 Ms. Kapur deposited Rs.50000 cash in HDFC Bank. Ans. F4 : Contra Cr. Cash Rs. 50000 Dr. HDFC Bank Rs. 50000 25-4-04 Ms. Kapur received an invoice for Rs.6000 raised by Ink and paper publishers for printing of office stationery. Page 2 of 23 Rs. 14) Ans. F5 : Payment Dr. 10400 Ms. F5: payment Dr. Rent Exp. 2500 by cheque toward office rent for April 2004. Maya Nair – Rs.) Rs. Ans. Ans. 7500 Cr. 10400 Cr. 6000 in cash to Ink & Paper publishers. F5 : Payment Dr. (Indirect Exp. 6000 27-4-04 Ms. F5 : payment Dr. Kapur paid salaries through cheque for April 2004 (25 Days) to 1. HDFC Bank Rs. Cash Rs. 5-5-04 Ans. 6000 Cr. Kapur paid Rs. Kapur paid Rs. cash Rs.Level 1 13) Ans. F5 : payment Dr . 3900 Ans. 6000 Ms. 6000 Cr . Vijay Narayan – Rs. Rs. Kapur withdrew Rs.) Rs. Withdrawals (Capital) Rs. (Indirect Exp. telephone Exp. Stationery Exp. Kapur receive and paid mobile phone bill amounting to Rs. 6500 2. salary Exp. (indirect Exp. In cash towards office maintenance charges for April 2004.) 750 Cr. 6-5-04 7-5-04 Ans. 2500 Cr. Office Maintenance Exp. Cash Rs. 2500 Ms. F7 : Journal Dr. Kapur paid Rs. 1250 in cash for April 2004. 750 May 2004 SL. 7500 30-4-04 Ms. Ink & Paper Publisher (Sundry Creditors) Rs. F5 : Payment Dr.NO 15) 16) 17) 18) DATE 1-5-04 TRANSACTIONS Ms. HDFC Bank Rs. 1250 Page 3 of 23 . 7500 cash for personal use. Ink and Publishers Rs. 1100 Cr. 25000 from Silver Services by cheque. 650 in cash to Vijay Narayan Ans. Kapur raised an invoice for Rs. Cash Rs.15000 of consulting revenue in cash from Omega Infotech Ans. 25000 15-5-04 Ms. 650 Cr. Cash Rs. Cash Rs. F6 : Receipt Page 4 of 23 .Level 1 19) Cr. (Indirect Exp. Consulting Revenue (Direct Income) Rs. (Indirect Exp.kapur received Rs. Cash Rs. 650 18-5-04 Ms. Kapur paid Rs. F5 : Payment Dr. 1100 Ms.) Rs. Silver Services paid the balance amount of Rs. 12500 to Global House 20) Ans. 1250 10-5-04 Ms.kapur issued cheque of Rs. 150 Cr. Ans. Ans. 15000 Dr. 1100 in cash towards electricity charges for April 2004. HDFC Bank RS. miscellaneous Exp. Advance consulting revenue Rs. F5 : payment Dr. 150 in cash toward miscellaneous office expenses. Cash Rs. F6 : Receipt Cr. Conveyance Exp. Ans. Kapur reimbursed conveyance bills amounting to Rs. 21) 22) 23) 24) 25) 14-52004 Ans. 25000 Dr. F6 : Receipt Cr. 12500 12-5-04 Ms. 25000 in cash after deducting the advance paid.) Rs.kapur paid Rs.) Rs. HDFC Bank Rs. Kapur received further advance of Rs. 75000 on Silver Services after completion of the service. 12500 Cr. 15000 25-5-04 Ms. (Indirect Exp. F5 : payment Dr. F5 : Payment Dr. Global House Rs. electricityExp. 150 20-5-04 Ms. F4 : Contra Page 5 of 23 . 35000 cash as consulting revenue from Eateries Food Chain. 2500 Cr.Level 1 26) 28-52004 Cr. Cash Rs.) Rs. withdrawals Rs. 5500 from Raj Travels. 25000 Dr. 12000 Cr. 2500 in cash toward office rent for May 2004. Ans. F6 : Receipt Cr. 6000 cash for personal use. 3200 towards outstation tours undertaken by her. F5 : payment Dr. 2300 Dr. Advance Consulting Revenue Rs. Consulting Revenue Rs. Rent Exp. Kapur paid Rs. 6000 June 2004 SL. This includes Rs. Kapur received an invoice for Rs. Cash Rs. Rs. HDFC Bank Rs. Cash Rs.) Rs. 2500 Ms. F7 : Journal Dr. 6000 Cr. F5 : Payment Dr. tour Exp. (Indirect Exp. 2300 toward cab hiring charges and Rs. 50000 Ms. Raj Travels (Sundry Creditors) Rs. 35000 Dr. Ans. (Indirect Exp. Consulting Revenue Rs. 30) 9-6-04 31) Ans. 12000 Ms. HDFC Bank Rs. Rs. 35000 10-6-04 Ms. 5500 Ms. 4-6-04 Ans. Salary Exp. F5 : payment Dr.kpur received Rs. 30000 cash in HDFC Bank. 3200 Cr.NO 27) 28) 29) DATE 3-6-04 TRANSACTIONS Ms. 5-6-04 Ans. Kapur paid salaries by cheque for May 2004. cab hiring Exp. Ans. 75000 Dr. Kapur deposited Rs.kapur withdrew Rs. 37) Ans. Cash Rs. Ans. 750 23-6-04 Ms. 6000 July 2004 SL. F5 : Payment Dr. Rs. Page 6 of 23 . 750 20-6-04 Ms. 750 in cash toward office maintenance charges for May 2004. Cash Rs. Rs. Kapur paid Rs. Cash Rs. 30000 15-6-04 Ms. Office Maintenance Exp. 1250 in cash toward electricity bill charges for May 2004. F5 : Payment Dr. F5 : Payment Dr. F5 : Payment Dr. Ans. Cash Rs. withdrawals Rs. 1350 Cr. 3000 in cash as salary advance to Maya Nair. 750 Cr. 1250 Cr. 1250 21-6-04 Ms. 3000 Cr.. Kapur paid Rs. Rs. Electricity Exp. Cash Rs. Salary Advance (Loans & Advance [assets]).NO 38) DATE 3-7-04 TRANSACTIONS Ms. 1350 16-6-04 Ms.Level 1 32) 33) 34) Cr. 1350 by cheque for May 2004. Kapur paid Rs. 36) Ans. 6000 cash for personal use. Conveyance Exp. 30000 Dr. Kapur reimbursed conveyance bills amounting to Rs. Kapur raised an invoice for Rs. 35) Ans. F5 : Payment Dr. Kapur paid mobile phone bill amounting to Rs. Cash 3000 27-6-04 Ms. F5 : Payment Dr. 6000 Cr. HDFC Bank Rs. HDFC Bank Rs. 65000 on Alfatech Solutions for services provided. Rs. Kapur withdrew Rs. Rs. 750 in cash to Vijay Narayan. Telephone Exp. 750 Cr. 35000 18-7-04 Ms. Kapur received Rs. Kapur paid office rent by cheque for June 2004.Level 1 39) 5-7-04 Ans. 1650 by cheque as mobile phone bill charges for June 2004. Kapur paid Rs. F5 : Payment Dr. Consulting Revenue Rs. F5 : Payment Dr. Alfatech Solutions (Sundry Debtors) Rs. Rs. 850 20-7-04 Ms. 2400 Ms. 850 Cr. 2500 Cr. 65000 Ms. 850 in cash toward electricity charges for June 2004 45 Ans. 40) 7-7-04 41) Ans. 9000 10-7-04 Ms. Cash Rs. Prepaid Journal Subscription (Current Assets) Rs. Kapur paid salaries for June 2004 by cheque. 2400 by cheque. Kapur subscribed for the ‘Management Consultant’ journal by paying Rs. 3000 Cr. Page 7 of 23 . F5 : Payment Dr. F7 : Journal Dr. HDFC Bank Rs. HDFC Bank Rs. Alfatech Solutions Rs. F5 : Payment Dr. Electricity Exp. 2400 Cr. Rent Exp. Rs. 750 19-7-04 Ms. Salary Ex. 42) Ans. Salary Advance Rs. HDFC Bank Rs. 35000 Dr. 44) Ans. 750 Cr. Cash Rs. Rs. 35000 by cheque from Alfatech Solutions. 750 in cash toward office maintenance charges for June 2004. Kapur paid Rs. HDFC Bank Rs. F6 : Receipt Cr. The subscription period is from July 2004 to June 2006. Office Maintenance Exp. 2500 15-7-04 Ms. Kapur paid Rs. Salary advance paid to maya nair is adjust the salary paid. Rs. 12000 Cr. 43) Ans. 65000 Cr. F5: payment Dr. Ans. The period of insurance is from August 1. 2500 Cr. F5: payment Dr. 6000 for insurance of fixed assets. 47 Ans. Cash Rs. Kaspur received Rs. Kapur paid salaries for July 2004 by cheque. 12000 Cr. Ans. 2005. Withdrawals Rs. 6000 Cr. F5 : Payment Dr. Rs. Kapur paid by cheque Rs. 6500 August 2004 SL. F6 : Receipt Cr. F5 : Payment Dr. 2500 Page 8 of 23 . 50) 5-8-04 51) Ans. Kapur withdrew Rs.Level 1 46 Ans. HDFC Bank Rs. Telephone Exp. Rs. Cash Rs. Rs. Consulting Revenue Rs. Rs. 30000 in cash as consulting revenue from WorldX Multimedia. Conveyance Exp.NO 48 49 DATE 1-8-04 2-8-04 TRANSACTIONS Ms. Rent Exp. HDFC Bank 12000 10-8-04 Ms. HDFC Bank Rs. 30000 Ms. 550 Cr. HDFC Bank Rs. 6500 cash for personal use. Prepaid Insurance (Current Assets) Rs. Cash Rs. 6500 Cr. 1650 Cr. Ans. F5 : Payment Dr. Kapur reimbursed conveyance bills for Rs. F5 : Payment Dr. Ans. Ans. 550 28-7-04 Ms. F5 : Payment Dr. Salary Exp. 6000 Ms. 2004 to July 31. 550 in cash to Vijay Narayan. 1650 25-7-04 Ms. Kapur paid office rent for Jauly 2004 by cheque. 30000 Dr. Kapur withdrew Rs. HDFC Bank Rs. 2100 21-8-04 MediaLive Productions settled the bill for a final amount of Rs. Ans. HDFC Bank Rs. Ans. 20000 in cash & Rs. MediaLive Productions (Sundry Debtors) Rs. 750 Cr. Ans. Rs. 950 Cr. Cash Rs. Discount Exp. F7 : Journal Dr. 950 20-8-04 Ms. Ans. F5 : Payment Dr. Cash Rs. 25000 cash fro HDFC Bank. 20000 Dr. F6 : Receipt Cr. 50000 on MediaLive Productions for services provided. 28000 Dr. Cash Rs. HDFC Bank Rs. 2100 by cheque towards mobile phone bill charges for July 2004. Electricity Exp. MediaLive Productions Rs.y 2004. F4 : Contra Cr. Kapur paid Rs.. Consulting Revenue Rs. F5 : Payment Dr. F5 : Payment Page 9 of 23 . 750 16-8-04 Ms. Kapur withdrew Rs.Level 1 52) 53) 54) 55 56 57 58 12-8-04 Ms. Rs. 7000 cash for personal use. 48000 by paying Rs. 50000 Dr. 50000 18-8-04 Ms. 25000 14-8-04 Ms. Cash Rs. The terms of credit are 30 days. 28000 by cheque. Ans. 25000 Dr. 950 in cash towards electricity for July 2004. 50000 Cr. Telephone Exp. Ans. Office Maintenance Exp. Kapur raised an invoice for Rs. F5 Payment Dr. Ans. Kapur paid Rs. 750 in cash toward office maintenance charges for Ju. 2000 27-8-04 Ms. Kapur pasid DRs. NO 61 62 63 64 DATE 2-9-04 5-9-04 8-9-04 9-9-04 TRANSACTIONS Ms. 3800 Cr. 30000 29-8-04 Ms. 7000 28-8-04 Ms. Cab hiring Exp. Rent Exp. withdrawals Rs. Kapur paid Rs. F5 : Payment Dr. Ans. F5 : payment Dr. (Indirect Exp. F6 : Receipt Cr. Rs. Kapur reimbursed conveyance bills amounting to Rs. 3800 Ms. This includes Rs. Conveyance Exp.) Rs. 1200 in cash to Vijay Narayan Ans. 2500 Ms. Ans. 2500 Cr. 3800 in cash dor repairs and maintenance of office premises. Ans. She was paid one half. salary Exp. 7600 from Raj Travels. Kapur received invoice for Rs. F7 : Journal Dr. Ans. F5 : payment Dr. 30000 Dr.month’s salary. Cash Rs. 3150 towards cab hiring charges & Rs. 7000 Cr. HDFC Bank Rs. 8250 Cr. Kapuir paid salaries for August 2004 by cheque. repair & maintenance Exp. Alfatech Soluction Rs. Ans. Cash Rs. F5 : Payment Dr. HDFC Bank Rs. Cash Rs. Kapur received Rs. 4450 toward outstand tours undertaken by her. 8250 Ms. Rs. 1200 Cr. 3150 Page 10 of 23 . HDFC Bank Rs. 1200 Serptember 2004 SL. 30000 by cheque from Alfatech Soluctions.Level 1 59 60 Dr. Kapur paid office rent for august 2004 by cheque. Since Maya Nair was on leave for 15 days. HDFC Bank Rs. 1300 20-9-04 Ms. Ans. 1300 in cash toward electricity charges for August 2004. Cash Rs. F5 : Payment Dr. Cash Rs. 1750 by cheque toward mobile phone bill charges for August 2004. 500 23-9-04 Ms. Ms. Telephone Exp. 25000 in cash as consulting revenue from Cam & Cut Productions. 1750 Cr. Cash Rs. 1300 Cr. HDFC Bank Rs. Kapur paid Rs. Ans. F5 : Payment Page 11 of 23 . 10000 by cheque for Raj Travels. 10000 Cr. 750 15-9-04 Ms. 7600 12-9-04 Ms. 750 in cash toward office maintenance charges for August 2004 Ans. Kapur withdrew Rs. 500 Cr. conveyance Exp. F5 : Payment Dr.10000 24-9-04 Ms. F5 : Payment Cr. Kapur paid Rs. F5 : Pyament Dr.Level 1 65 66 67 68 69 70 71 Dr. 4450 Cr. Rs. Kapur received Rs. F5 : Payment Dr. Rs. 25000 Dr. Electricity Exp. 750 Cr. F5 : Payment Dr. Ans. Cash Rs. 500 in cash to vijay Narayan Ans. 5500 cash for personal use. Raj Travels Rs. Office Maintenance Exp. 1750 28-9-04 Ms. Rs. Ans. Raj Travels Rs. Kapur paid Rs. Kapur reimbursed conveyance bills amounting to Rs. 25000 17-9-04 Ms. Consulting revenue Rs. Ans. Kapur paid Rs. Rs. Tour Exp. Kapur paid Rs. F4 : Contra Dr. F5: payment Dr. 30000 Cr. Cash Rs. 5500 October 2004 SL. Kapur paid salaries for September 2004 by cheque. Page 12 of 23 . HDFC Bank Exp. 1600 in cash. HDFC Bank 12000 Ms. 750 Cr. F5 : Payment Dr. F5 : Payment Dr. 2500 Cr. 5500 Cr. 1600 Ms. Cash Rs. Kapur received Rs. 75 Ans. Rs. Salary Exp.NO DATE TRANSACTIONS 72 3-10-04 Ms. Offic Maintenance Exp. 50000 by cheque as consulting revenue from Xceed International Couries. Rent Exp. HDFC Bank (Bank Account) Rs. 12000 Cr. Stationery Exp. 750 in cash toward office maintenance charges for September 2004. F6 : Receipt Cr. Exp. Kapur received Rs. 50000 5-10-04 Ms. 15000 in cash as consulting revenue from Samaritan Products. 74 Ans. 30000 cash from HDFC Bank. 750 Ms. Ans. F5 : Payment Dr. 50000 Dr. Cash Rs.Level 1 Dr. 73 Ans. Kapur withdrew Rs. Withdrawals Rs. 76 77 78 10-1004 12-1004 15-1004 Ans. Ans. Kapur paid office rent for September 2004 by cheque. 1600 Cr. Cash Rs. Rs. HDFC Bank Rs. 30000 8-10-04 Ms. Consulting revenue Rs. 2500 7-10-04 Ms. Kapur purchased stationery items worth Rs. 100000 Ms. Advance Consulting Revenue Rs. F6 : Receipt Cr. F4 : Contra Cr. Cash Rs. Cash Rs. Telephone Exp. Consulting Revenue Rs. 1600 Ms. F5 : Payment Dr. Ms. Ans. 10000 Dr. 1700 Cr. Kapur introduced further capital into the firm by bringing in cash of Rs. 28-1004 Ans.Level 1 79 80 81 82 83 84 18-1004 Ans. Kapur capital Rs. 1700 in cash toward electricity charges for September 2004 20-1004 Ans. F5 : Payment Dr. Electricity Exp. 75000 Dr. Cash Rs. 100000 Dr. 15000 Dr. Cash Rs. F6 : Receipt Cr. 2300 by cheque toward mobile phone bill charges for September 2004. Rs. 100000 24-1004 Ans. Kapur paid Rs. Rs. HDFC Bank Rs. Cash Rs. conveyance Exp. 1600 Cr. 2300 Ms. 26-1004 Ans. 15000 Ms. 75000 Ms. HDFC Bank Rs. F6 : Receipt Cr. 75000 in HDFC Bank. 23-1004 Ans. 1600 in cash to Vijay Narayan. 1700 Ms. 2300 Cr. Kapur reimbursed conveyance bills amoiunting to Rs. Kapur deposited cash amounting Rs. Kapur paid Rs. F5 : Payment Dr. Kapur entered into a contact with Planet Consultancy for providing services at an agreed price of Rs. 10000 was received by cheque. HDFC Bank 10000 Page 13 of 23 . 4400 toward outstation tours undertaken by her. F6 : Receipt Dr . 100000 Cr. 25000 Ms. 7200 from Raj Travels. Computer (Fixed Assets) Rs. Ms. Cellular Phone (Fixed Assets) Rs. 27500 by cheque as consulting revenue from Trishul Software Solutions. Kapur received an invoice for Rs. Cash Rs. F5 : Payment Dr . 300000 2-11-04 Ms. Ans. 100000 8-11-04 Ms. Kapur paid Rs. Planet Consultancy terminated the contract and advance of Rs. F5: payment Dr. Kapur withdrew Rs. Security Deposit – office (Deposits (Assets)) Rs. 20000 Page 14 of 23 . Kapur paid salaries for October 2004 by cheque. NOTE : NO entry is required for transaction. 300000 Cr . HDFC Bank (Bank Account) Rs. Ans. Kapur capital a/c (current assets) Rs. Furniture (Fixed Assets) Rs. NOTE : NO entry is required for transaction. 22500 Cr. 750 in cash toward office maintenance charges for October 2004. Ans. 8000 cash for personal use. Ms. F4 : Contra Dr.Level 1 November 2004 SL. 25000 Cr. 10-1104 12-1104 15-1104 Ans. Ans. 6000 Dr. Kapur received Rs. Cash Rs. 22500 5-11-04 Ms. Kapur paid office rent for October 2004 by cheque. 10000 was refunded to them by cheque. Cash Rs. HDFC Bank Rs. F5 : Payment Dr. The includes Rs. 2800 toward cab hiring charges and Rs. Ans.NO DATE TRANSACTIONS 85 1-11-04 Ms. 86 87 88 89 90 91 Ans. Kapur paid Rs. 950 in cash towards electricity bill charges for October 2004. 99 Ans. 12500 Ms. Ms. 550 as cheque bouncing charges are to be recovered from Trishul Sotware Solutions. Kapur that the cheque of Trishul Software Solutions for Rs. F7 : Journal Dr. 15000 Cr. Stationery Exp. Cash Rs. 1470 by cheque towards mobile phone bill charges for October 2004. F6 : Receipt Dr . 3000 Ms. Ans. Advance Consulting Revenue (Advance from Customers) Rs. Kapur received Rs.) Rs. Computer (Fixed Assets) Rs. December 2004 SL. 25000 Ms. F5 : Payment Dr. 300000 Cr . 12500 in cash from Trishul Software Solutions. 27500 has bounced. 6500 cash for personal use. Create sub – group – Advance from Customers (under Current Liabilities) F6 : Receipt Cr.Level 1 92 20-1104 93 21-1104 94 23-1104 95 96 97 25-1104 27-1104 30-1104 Dr. Security Deposite – Phone (Deposit (Assets)) Rs. 900 in cash to Vijay Narayan. F5 : Payment Dr. HDFC Bank Rs. Global House (Sundry Creditors) Rs. Kapur reimbursed conveyance bills amounting to Rs. 22500 Page 15 of 23 . 20000 Dr. HDFC Bank Rs. Kapur withdrew Rs. Ans. Intimation to this effect was sent to Trishul Software Solution and they promised to pay the amount in few days. Ans. Ms. (indirect Exp. Cash Rs. 25000 Dr. Ms. Kapur capital a/c (current assets) Rs.NO DATE TRANSACTIONS 98 3-12-04 The statement receive from HDFC Bank shows that the bank has charged Rs. 3000 Cr. Electrical fittings (Fixed Assets) Rs. Air conditioner (Fixed Assets) Rs. 300000 5-12-04 Ms. 61000 HDFC Bank intimated to Ms. Kapur paid Rs. Kapur paid office rent for November 2004 by cheque. 12500 Cr. NOTE : NO entry is required for transaction. 20000 Dr. 12500 Page 16 of 23 . Ans. 12000 worth office equipments on credit from Transform Tech Pvt. Ans. Cash Rs. F4 : Contra Dr. 30000 cash from HDFC Bank Ans. 3000 toward cab hiring charges and Rs. F5: payment Dr. 50000 by cheque as consulting revenue from Unigrand Technlogies. 100000 Cr. 3000 Cr. 25000 9-12-04 Ms. Cash Rs. 20-1204 11-1204 15-1204 16-1204 Ans. Kapur paid salaries for November 2004 by cheque. F5 : Payment Dr . (indirect Exp. 3200 towards outstand tours undertaken by her. Security Deposite – Phone (Deposit (Assets)) Rs. 25000 Cr. F5 : Payment Dr. Security Deposit – office (Deposits (Assets)) Rs. Kapur withdrew Rs. Kapur purchased Rs. The assets does not have any disposal value after its useful life of 6 year. This includes Rs. 1450 by cheque towards mobile phone bill charges for November 2004. HDFC Bank (Bank Account) Rs. Kapur received invoice from Raj Travels for Rs. 15000 Cr.. Ms. 20000 Dr. 6200. Electrical fittings (Fixed Assets) Rs. Cellular Phone (Fixed Assets) Rs. 22500 6-12-04 Ms.Level 1 100 101 102 103 104 105 106 Cr. HDFC Bank Rs. 6000 Dr. Ms.) Rs. 3000 Ms. Cash Rs. Ans. Ans. Ltd. 750 in cash toward office maintenance charges for November 2004. F7 : Journal Dr. 61000 Ms. Furniture (Fixed Assets) Rs. NOTE : NO entry is required for transaction. Kapur paid Rs. HDFC Bank Rs. Air conditioner (Fixed Assets) Rs. Kapur paid Rs. Stationery Exp. Kapur received Rs. 100000 8-12-04 Ms. Kapur reimbursed conveyance bills amounting to Rs. 22500 Ms. 22500 Cr. 750 in cash toward office maintenance charges for December 2004. Cash Rs. HDFC Bank Rs. Kapur paid Rs. Kapur paid Rs. 300000 Cr . Kapur received Rs. 30000 in cash from InGroove Designers. F5 : Payment Dr. F6 : Receipt Dr . 850 in cash towards electricity bill charges for November 2004. Ms. 7500 by cheque towards professional charges for internal audit of accounts. Kapur raised invoice for Rs.NO 114 115 116 117 DATE 3-1-05 TRANSACTIONS Ms. HDFC Bank (Bank Account) Rs. Kapur paid salaries for December 2004 by cheque. Kapur paid office rent for December 2004 by cheque. Kapur received Rs. Ms. Computer (Fixed Assets) Rs. 300000 Ms. 100000 Cr. 25000 Ms. Ans. Cash Rs. Kapur paid Rs. 6000 cash for personal use. Create sub – group – Advance from Customers (under Current Liabilities) F6 : Receipt Cr. Ms. 12000 by cheque to Transform Tech Pvt.Level 1 107 108 109 110 111 112 113 18-1204 20-1204 23-1204 24-1204 25-1204 28-1204 30-1204 Cr. Kapur withdrew Rs. 100000 10-1-05 Ms. 42500 on InGroove Designers for consultancy services. 6-1-05 Ans. 5-1-05 Ans. Ans. Cash Rs. 1100 in cash to Vijay Narayan Ms. Advance Consulting Revenue (Advance from Customers) Rs. Global House (Sundry Creditors) Rs. Ms. Kapur paid Rs. January 2005 SL. Page 17 of 23 . 15550 in cash from Trishul Software solutions. 12500 Ms. 25000 Dr. Ms. Ltd. F4 : Contra Dr. Kapur capital a/c (current assets) Rs. 20000 Dr. Kapur withdrew Rs. Kapur paid Rs. 3000 Cr. Cash Rs. Furniture (Fixed Assets) Rs. 2300 by cheque as mobile phone bill charges for December 2004.) Rs. F7 : Journal Dr. Kapur paid Rs. Security Deposite – Phone (Deposit (Assets)) Rs. 25000 Cr. 25000 Dr. HDFC Bank Rs. Ans. 12500 30-1-05 Ms. 15-1-05 Ms. Ans. 61000 20-1-05 Ms. 1800 in cash to Vijay Narayan. Kapur withdrew Rs. Kapur reimbursed conveyance bills amounting to Rs. 25000 February 2005 SL. 1050 in cash toward electricity charges for December 2004. Ans.NO DATE TRANSACTIONS Page 18 of 23 . Electrical fittings (Fixed Assets) Rs. Kapur received Rs. 50000 capital from the firm by cheque. Advance Consulting Revenue (Advance from Customers) Rs. Security Deposit – office (Deposits (Assets)) Rs. (indirect Exp. 35000 by cheque as consulting revenue from Ala Carte Investments.Level 1 118 119 120 121 122 123 Ans. Cellular Phone (Fixed Assets) Rs. HDFC Bank Rs. Ans. Stationery Exp. NOTE : NO entry is required for transaction. HDFC Bank Rs. NOTE : NO entry is required for transaction. 8000 cash for personal use. Ans. 20000 Dr. Global House (Sundry Creditors) Rs. F5: payment Dr. Air conditioner (Fixed Assets) Rs. 25000 12-1-05 Ms. F5 : Payment Dr . 12500 Cr. 6000 Dr. F5 : Payment Dr. Create sub – group – Advance from Customers (under Current Liabilities) F6 : Receipt Cr. 15000 Cr. 3000 23-1-05 Ms. 18-1-05 Ms. 1600 by cheque toward mobile phone bill charges for January 2005. NOTE : NO entry is required for transaction. Electrical fittings (Fixed Assets) Rs.Level 1 124 125 126 127 128 129 5-2-05 Ms. 130 Ans. 18-2-05 Ms. 1150 in 2005. 1200 in cash toward electricity bill for January 2005. Air conditioner (Fixed Assets) Rs. 15-2-05 Ms. Ans. Kapur received invoice from Raj Travels for Rs. Ms. 6000 Dr. 100000 11-2-05 Ms. HDFC Bank (Bank Account) Rs. This includes Rs. Kapur paid Rs. 20000 Dr. Cellular Phone (Fixed Assets) Rs. 131 Ans. 5600 toward outstation tours undertaken by her. F5 : Payment Dr . Cash Rs. Kapur paid Rs. HDFC Bank Rs. Furniture (Fixed Assets) Rs. 15000 Cr. 25000 Cr. Kapur paid Rs. Kapur reimbursed conveyance bills amounting to Rs. Kapuir paid salaries for January 2005 by cheque. 22500 Cr. Cash Rs. HDFC Bank Rs. Ans. 300000 Cr . 25000 12-2-05 Ms. Computer (Fixed Assets) Rs. F6 : Receipt Dr . Ans. Kapur paid office rent for January 2005 by cheque. 300000 Ms. 20000 by cheque to Raj Travels. Kapur paid Rs. Ans. Kapur capital a/c (current assets) Rs. Cash Rs. 20000 Dr. 9400. 22500 10-2-05 Ms. Security Deposit – office (Deposits (Assets)) Rs. F5 : Payment Dr. 3800 toward cab hiring charges and Rs. F4 : Contra Dr. F5: payment Dr. 6-2-05 Ans. 61000 20-2-05 Ms. 100000 Cr. 750 in cash toward office maintenance charges for Jaunary 2005. Page 19 of 23 . NOTE : NO entry is required for transaction. Ms. 30000 in cash as consulting revenue from Eye Television Network. HDFC Bank Rs. Ans. 28-2-05 Ms. Ans.Level 1 132 133 Ans. Kapur paid Rs. Cash Rs. 100000 10-3-05 Ms. Page 20 of 23 . F5 : Payment Dr. 22500 Ms. F5: payment Dr. Computer (Fixed Assets) Rs. Kapur received Rs. 3000 Cr. HDFC Bank (Bank Account) Rs. Kapur paid office rent for February 2005 by cheque. Security Deposite – Phone (Deposit (Assets)) Rs. 750 in cash toward office maintenance charges for February 2005 Ans. 5-3-05 Ans. 25000 March 2005 SL.NO 134 135 136 137 138 DATE 3-3-05 TRANSACTIONS Ms. Cash Rs. 8-3-05 Ans. Kapur withdrew Rs. F6 : Receipt Dr . Kapur purchased stationery consumables worth Rs. 3000 24-2-05 Ms. Create sub – group – Advance from Customers (under Current Liabilities) F6 : Receipt Cr. 7400 on credit from Global House. 1450 in cash toward electricity bill for February 2005. Cash Rs. Kapur paid salaries by cheque for Fbruary 2005. F4 : Contra Dr. 25000 Dr. 25000 12-3-05 Ms. 300000 Ms. Cash Rs. Security Deposit – office (Deposits (Assets)) Rs. Kapur capital a/c (current assets) Rs. 22500 Cr. 100000 Cr. HDFC Bank Rs. 300000 Cr . Kapur paid Rs. 25000 Cr. 7000 cash for personal use. F5 : Payment Dr. Advance Consulting Revenue (Advance from Customers) Rs. HDFC Bank Rs. 25000 Dr. Create sub – group – Advance from Customers (under Current Liabilities) F6 : Receipt Cr. Stationery Exp. Kapur paid Rs. Ms. 25000 Provision Entries 144 145 1-4-05 2-4-05 Ms. 6000 Dr. Cash Rs. Kapur capital a/c (current assets) Rs. 600. 3000 21-3-05 Ms. Ans. 3000 Cr. 20000 Dr. The services had already been provided in march 2005. Kaur paid office rent for March 2005 by cheque. Page 21 of 23 . 15000 Cr. Ans. Ans. F7 : Journal Dr. Global House (Sundry Creditors) Rs. 61000 20-3-05 Invoice received from Global House on 24th of February 2005 had a totaling error and was overvalued by Rs. Kapur reimbursed conveyance bills amounting to Rs. Kapur withdrew Rs. F6 : Receipt Dr . F5 : Payment Dr . Furniture (Fixed Assets) Rs. NOTE : NO entry is required for transaction.Level 1 139 140 141 142 142 Ans. 6500 cash for personal use. 950 in cash to Vijay Narayan Ans. HDFC Bank Rs. 6800 by cheque to Global House.) Rs. Cellular Phone (Fixed Assets) Rs. 18-3-05 Ms. (indirect Exp. Kapur paid Rs. Electrical fittings (Fixed Assets) Rs. Security Deposite – Phone (Deposit (Assets)) Rs. 12500 21-3-05 Ms. F5 : Payment Dr. 300000 Ms. 20000 cash as consulting revenue from ForeC Marketing Solutions. Cash Rs. 12500 Cr. Air conditioner (Fixed Assets) Rs. Advance Consulting Revenue (Advance from Customers) Rs. 1900 by cheque toward mobile phone bill charges for February 2005 Ans. 20000 Dr. 300000 Cr . 15-3-05 Ms. NOTE : NO entry is required for transaction. Kkapur received Rs. 2900 toward cab hiring charges and Rs. 870 in cash toward electricity bill for March 2005. 25000 12-4-05 Ms. Security Deposite – Phone (Deposit (Assets)) Rs. Ans. 3000 Cr. F5: payment Dr. Kapur received invoice from Raj Travels for Rs. HDFC Bank (Bank Account) Rs. Kapur reimbursed conveyance bills amounting to Rs. 20000 Dr. 6000 Dr. 3700 towards outstation tours undertaken by her. Kapur paid salaries by cheque for March 2005 Ans. 61000 20-4-05 Ms. 100000 Ms. Cash Rs. 100000 Cr. 22500 Ms. NOTE : NO entry is required for transaction. 1300 in cash to Vijay Narayan. Air conditioner (Fixed Assets) Rs. This includes Rs. F5 : Payment Dr. Kapurpaid Rs. 15-4-05 Ms. 20000 Dr. 22500 Cr. 25000 Cr. F4 : Contra Dr. 750 in cash toward office maintenance charges for March 2005 Ans. The bill pertains for February 2005 and March 2005. The bills pertain to March 2005. HDFC Bank Rs. Computer (Fixed Assets) Rs. F5 : Payment Dr . 6600. HDFC Bank Rs. Cash Rs. F5 : Payment Dr. 1690 by cheque toward mobile phone bill charges for March 2005 Ans. Cellular Phone (Fixed Assets) Rs. Kapur paid Rs. 3000 Page 22 of 23 . Security Deposit – office (Deposits (Assets)) Rs. Kapur paid Rs. 15000 Cr. Ans. Electrical fittings (Fixed Assets) Rs. 18-4-05 Ms. Furniture (Fixed Assets) Rs. Ans.Level 1 146 147 148 149 150 151 5-4-05 7-4-05 Ans. NOTE : NO entry is required for transaction. Cash Rs. 17500.Level 1 Sl No Asset name 1 2 Computer Cellular phone Furniture Air conditioner Electrical Fittings Office Equipment s 3 4 5 6 Date of Value to Useful Annual No. Page 23 of 23 . Nature Payment date Magazine subscription 6-7-04 Insurance 1-8-04 Adjustment Entries For Prepaid Expenses Period of Amount Prepaid Prepaid subscription (b) period amount (b)/ / insurance (c) (a)*(c)=(d) (a) 1-7-04 to 2400 1-4-05 to 1500 30-6-06 (24 30-6-06 months) (15 months) 1-8-04 to 6000 1-4-05 to 2000 31-7-05 (12 31-7-05 months) (4 months) 14401 Amount for current year (b)-(d)=(e) 900 4000 1 2 3 `Other Adjustment Entries Provision for income tax (2004-05) has to be made at Rs. Transfer balance of withdrawals account to Nandini Kapur’s capital account. 5000. of purchas be life depreciati days e depreci (in on (a)/(b) used in ated (a) year) = (c) the (b) year (d) 2-4-04 22500 4 5625 364 15-4-04 6000 5 1200 351 Depreciation for 200405 (c)*(d)/365 = (e) 5610 1154 15-4-04 15-4-04 20000 20000 8 6 2500 3333 351 351 2404 3205 15-4-04 15000 10 1500 351 1442 15-1204 12000 6 2000 107 586 Total Disposal value for all assets = 0 Value to be depreciated (a) is same as the purchase cost. 1 Closing Entry Transfer balance of profit and loss account to Nandini Kapur capital account. Closing stock of stationery consumables on 31st. March 2005 is Rs.