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Sample Exercise: 1 WWW - Tallyacademy.in

The document lists transactions for Sanjivani Shetty for the year 2011-12. It includes receipts of cash for consulting services provided in March 2012, and payments made by cheque and cash in March and February 2012 for items like rent, salaries, bills, and expenses. The transactions need to be recorded in the accounting system.

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72 views

Sample Exercise: 1 WWW - Tallyacademy.in

The document lists transactions for Sanjivani Shetty for the year 2011-12. It includes receipts of cash for consulting services provided in March 2012, and payments made by cheque and cash in March and February 2012 for items like rent, salaries, bills, and expenses. The transactions need to be recorded in the accounting system.

Uploaded by

Mak Ak
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PDF, TXT or read online on Scribd
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Sample Exercise Sanjivani Shetty's transactions for the year 2011-12 are as follows.

You are required to Record the transactions. LIST OF TRANSACTIONS SL. NO. DATE TRANSACTIONS PROVISION ENTRIES 144 145 146 147 148 149 150 1-4-2012 2-4-2012 5-4-2012 7-4-2012 12-4-2012 15-4-2012 18-4-2012 Ms. Shetty received Rs.20,000 cash as consulting revenue from ForeC Marketing Solutions. The services had already been provided in March 2012. Ms. Shetty paid office rent for March 2012 by cheque Rs 2,500/-. Ms. Shetty paid salaries by cheque for March 2012 Rs 12,000/-. Ms. Shetty paid Rs.750 in cash towards office maintenance charges for March 2012. Ms. Shetty paid Rs. 1,690 by cheque towards mobile phone bill charges for March 2012. Ms. Shetty reimbursed conveyance bills amounting to Rs. 1,300 in cash to Santosh Sonawane. The bills pertain to March 2012. Ms. Shetty received an invoice from Raj Travels for Rs.6,600. This includes Rs.2,900 towards cab hiring charges and Rs.3,700 towards outstation tours. The is the bill for February and March, 2012. Ms. Shetty paid Rs.870 in cash towards electricity bill for March 2012.

151

20-4-2012

www.tallyacademy.in

Solution : Date Particulars Dr (Amt) 20,000 20,000 Cr (Amt)

31/03/2012 Dr. ForeC Marketing a/c (Sundry Debtor) Cr. Professional Fees a/c (Direct Income) (Being income adjusted)

31/03/2012 Dr. Office Rent a/c (Indirect Expenses) Cr. Office Rent Payable a/c (Provision) (Being provision for rent march 2012)

2,500 2,500

31/03/2012 Dr. Salary a/c (Indirect Expenses) Cr. Salary Payable a/c (Provision) (Being provision for Salary march 2012)

12,000 12,000

31/03/2012 Dr. Office Maintenance a/c (Indirect Expenses) Cr. Office Maintenance Payable a/c (Provision) (Being provision for Office Maintenance march 2012)

750 750

31/03/2012 Dr. Mobile Phone Bill a/c (Indirect Expenses) Cr. Mobile Phone Bill Payable a/c (Provision) (Being provision for Mobile Phone Bill march 2012)

1,690 1690

31/03/2012 Dr. Conveyance a/c (Indirect Expenses) Cr. Conveyance Payable a/c (Provision) (Being provision for Conveyance march 2012)

1,300 1,300

www.tallyacademy.in

31/03/2012 Dr. Cab Hiring Charges a/c (Indirect Expenses) Dr. Outstation Tours a/c (Indirect Expenses) Cr. Raj Travel a/c (Sundry Creditor) (Being provision for Conveyance march 2012)

2,900 3,700 6,600

31/03/2012 Dr. Electricity Charges a/c (Indirect Expenses) Cr. Electricity Charges Payable a/c (Provision) (Being provision for Conveyance march 2012)

870 870

www.tallyacademy.in

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