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Financial Transactions Tally Practice

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13 views

Financial Transactions Tally Practice

Uploaded by

popular.amd.act4
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Sample Company Financial Transactions for Tally Practice

Company Details

Name: Global Traders

Type of Business: Trading & Services

GSTIN: 24XXXXXXXXXX1Z5

State: Gujarat

Opening Balances (01-Apr-2023)

| Ledger Name | Under | Amount (Rs.) |

|----------------------------|------------------------|------------------|

| Capital Account | Capital Account | 10,00,000 |

| HDFC Bank A/c | Bank Accounts | 3,00,000 |

| Cash in Hand | Cash-in-Hand | 1,00,000 |

| Sundry Debtors: XYZ Pvt Ltd| Sundry Debtors | 2,50,000 |

| Sundry Creditors: ABC Ltd | Sundry Creditors | 1,20,000 |

| Stock-in-Hand | Stock-in-Hand | 5,00,000 |

Products List with GST and Cess Details

1. Product A: Laptops (GST 18%, Cess 1%)

2. Product B: Mobile Phones (GST 12%, Cess 2%)

3. Product C: Printers (GST 18%, No Cess)

4. Product D: Software Licenses (Services) (GST 18%, No Cess)

Transactions for April 2023


Purchases

1. Date: 02-Apr-2023

- Purchase from ABC Ltd (Tax Invoice)

- Product A: 10 units @ Rs.40,000 = Rs.4,00,000

- GST @ 18% = Rs.72,000, Cess @ 1% = Rs.4,000

- Product B: 20 units @ Rs.20,000 = Rs.4,00,000

- GST @ 12% = Rs.48,000, Cess @ 2% = Rs.8,000

- Total Invoice Amount = Rs.9,32,000

- Paid via HDFC Bank.

2. Date: 06-Apr-2023

- Purchase of Service - Annual Software AMC from LMN Pvt Ltd

- Service Amount = Rs.50,000

- GST @ 18% = Rs.9,000 (No Cess)

- Total = Rs.59,000

- Credit Entry (to be paid later).

Sales

1. Date: 08-Apr-2023

- Sale to XYZ Pvt Ltd

- Product A: 5 units @ Rs.60,000 = Rs.3,00,000

- GST @ 18% = Rs.54,000, Cess @ 1% = Rs.3,000

- Product C: 5 units @ Rs.15,000 = Rs.75,000

- GST @ 18% = Rs.13,500 (No Cess)

- Total Invoice Amount = Rs.4,45,500

- Received via HDFC Bank.


2. Date: 12-Apr-2023

- Service Sale to DEF Ltd

- Service Amount: Software Installation Rs.25,000

- GST @ 18% = Rs.4,500 (No Cess)

- Total Invoice Amount = Rs.29,500

- Payment received in Cash.

Expenses

1. Date: 15-Apr-2023

- Office Rent Paid via HDFC Bank = Rs.20,000

- GST @ 18% = Rs.3,600

- Total = Rs.23,600

2. Date: 18-Apr-2023

- Salaries Paid to Staff (3 Employees) = Rs.75,000 (via Cash, No GST).

3. Date: 20-Apr-2023

- Electricity Bill Paid via Cash = Rs.8,000 (No GST).

4. Date: 25-Apr-2023

- Advertisement Expense (via HDFC Bank) = Rs.10,000

- GST @ 5% = Rs.500

- Total = Rs.10,500.

Receipts and Payments

1. Date: 28-Apr-2023
- Payment to LMN Pvt Ltd = Rs.59,000 (Full Payment via HDFC Bank).

2. Date: 30-Apr-2023

- Partial Payment from XYZ Pvt Ltd = Rs.2,00,000 (Received via HDFC Bank).

Adjustments (Closing Entries)

1. Depreciation on Office Equipment = Rs.10,000.

2. Closing Stock as on 30-Apr-2023 = Rs.6,00,000.

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