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Tally Assignment 2

Mark Traders deals in laptops and computer parts. They started with Rs. 500,000 cash and made various purchases and sales during the month. They purchased items from two suppliers on credit and one on cash. Various items were sold for cash. An accountant was hired. Cash was deposited and withdrawn from the bank. Accounts payable and receivable were settled. Inventory was adjusted for defective and returned items. Financial statements including the profit and loss account and balance sheet should be generated.

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258 views2 pages

Tally Assignment 2

Mark Traders deals in laptops and computer parts. They started with Rs. 500,000 cash and made various purchases and sales during the month. They purchased items from two suppliers on credit and one on cash. Various items were sold for cash. An accountant was hired. Cash was deposited and withdrawn from the bank. Accounts payable and receivable were settled. Inventory was adjusted for defective and returned items. Financial statements including the profit and loss account and balance sheet should be generated.

Uploaded by

kishor0000kunal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Assignment 2

Mark Traders deals in different types of Laptops & Computer Parts and wants to maintain his
accounts in Tally.
1. Started business with cash ₹ 5,00,000/-
2. Purchase the following items from Laxmi traders on credit
Stock Group Name of Item Rate Quantity
Dell Laptop Dell E6410 27,500/- 10 Pc
Dell Laptop Dell E6410i 28,000/- 15 Pc

3. Purchase the following items from Hi-tech traders and agreed to pay the amount within
10days
Stock Group Name of Item Rate Quantity
HP Laptop HP H5550 26,000/- 5 Pc
HP Laptop HP H5555 26,500/- 5 Pc

4. Sold 2 Pcs Dell E6410 @ ₹ 29,000/Pc for Cash.


5. Mark Traders found 2HP Laptop are defective and immediately returned those defective
Laptops [HP H5555]
6. Deposited cash into Kotak Mahindra Bank ₹ 1,00,000/-
7. Appointed Mr. Mukesh as an Accountant and agreed to pay him ₹ 20,000/month salary
8. Withdraw cash from Kotak Mahindra Bank ₹ 20,000
9. Sold Laptop for cash [Dell E6410 4Pc @ ₹ 30,000/Pc and 2Pc E6410i @ ₹ 32,000/Pc]
10. Mark Traders Purchased the following Stock items form MK traders
Stock Group Name of Item Quantity Rate Location
Hard Disk 500Gb 25 2150 Godown A
Motherboard 30 4400 Godown B
RAM 4Gb 15 2500 Godown B
Computer Parts Monitor 17” (Intex) 20 4800 Godown A
Monitor 17” (Samsung) 10 4900 Godown A
Keyboard (HP) 25 450 Godown B
Keyboard (Intex) 20 200 Godown B

11. Sold 2Pc Dell E6410 @ Rs. 31,500/Pc & 4Pc Dell E6410i @ Rs. 33,000/Pc for cash
12. Received cash Rs. 25,000/- as commission
13. Paid Cash Rs. 12,000/- for Rent.
14. Sold the following items to Opera Traders for Cash
Name of Items Quantity Rate
Monitor 17” (Intex) 5 5150
RAM 4 Gb 8 2800
Motherboard 8 4750
Hard disk 500gb 10 2400

15. Purchase 5Pc Laptop [Lenovo L0225] for Cash @ Rs. 24,000/Pc
16. Made a Cheque Payment of Rs 45,000/- to Laxmi Traders
17. Sold 2Pc Monitor 17” Samsung @ ₹ 5,100/Pc, Keyboard HP 5Pc @ ₹ 375/Pc to Opera
Traders.
18. Received Cash from Opera Traders ₹ 10,000/-
19. Returned 5Pc Motherboard to MK Traders.
20. Sold 2Pc Motherboard @ ₹ 4750/Pc for cash.
21. Paid Cash ₹ 8000 to MK Traders.
22. Paid Salary to Mr. Mukesh
23. Cash sales 8Pc Hard Disk @ ₹ 2750/Pc
24. Cash Sales 5Pc Monitor 17” Intex @ ₹ 5,500/Pc

Things to do:
i. Create a Company.
ii. Create Inventory Details (Stock Group, Unit, Godown & Stock Item).
iii. Create necessary Ledgers.
iv. Record all transactions.
v. Display Profit & Loss A/c, Balance Sheet and Ledgers.

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