SRCC/2023 BCH: DSC - 1.

University of Delhi, Practical Examination 2023

B.Com. (Hons.) – 1st Semester (NEP)
Paper BCH: DSC – 1.3 Financial Accounting (Tally)

Maximum Marks: 20

QUESTION: Create a Company in Tally Prime with the following details:

i. Company Name: Last four digits of your University Examination Roll No.
ii. Address and Contact: Maurice Nagar, Delhi-110007, Your Mail ID & Your Contact Number
iii. Other Details: Currency Symbol: Rs.

Specific Instructions –
• All transactions related to Receipts and Payments have been done through Bank.
• Use arbitrary 8 digits codes for Harmonized System of Nomenclature (HSN) required under GST.
• Inventory is to be valued by the automatic and default method provided in Tally.
• Transactions in respect of final settlement of Input and Output GST are not required.

Balance Sheet as at 31-03-2022

(GST : 07AAAAA1111B1ZA)

Liabilities Amount (In Rs.) Assets Amount (In Rs.)

Capital 45,00,000 Land & Building 50,00,000
General Reserve 15,00,000 Plant & Machinery 10,00,000
Profit & Loss A/c 5,00,000 Investment (Face value Rs. 1,00,000) 1,50,000
Debentures (Secured) 8,00,000 Stock 5,00,000
Sundry Creditors 3,00,000 Sundry Debtors 2,50,000
Provision for Tax 2,50,000 Bills Receivable 1,20,000
Bills Payable 1,00,000 Prepaid Insurance Premium 1,800
Outstanding Salary 50,000 State Bank of India 9,30,000
Cash in Hand 48,200
Total 80,00,000 Total 80,00,000

Details of Stock on 31/03/2022. GST Applicable for Shirts and Trousers is 12%.

Name of the Item Group Quantity (Pcs) Rate (Rs.) Value ( Rs.)
Linen Shirt Shirt 400 350 1,40,000
Woolen Shirt Shirt 300 400 1,20,000
Rayon Shirt Shirt 75 200 15,000
Cotton Trouser Trouser 200 450 90,000
Denim Trouser Trouser 250 500 1,25,000
Teri cot Trouser Trouser 40 250 10,000
5,00,000
SRCC/2023 BCH: DSC - 1.3

Lists of the Company’s Debtors and Creditors as of 31/03/2022 are as follows:

Sundry Debtors Amount (In Rs.) Sundry Creditors Amount (In Rs.)
ABC Ltd. 80,000 M Ltd. 1,00,000
Rohan Ltd. 50,000 Singh Ltd. 60000
Sonam Ltd. 70,000 Akshay Enterprises Ltd. 80000
R Ltd. 40,000 Damini Ltd. 40000
Your Father’s Name 10,000 Your Name 20000
Total 2,50,000 Total 3,00,000

Record the following transactions that took place during the financial year 2022- 2023. Narrations are
not required.

S. No. Transactions

1 Purchase from M Ltd. of Delhi dated 01/04/2022. 300 pcs of Linen Shirt @ Rs. 360 amounting to Rs.
1,08,000. This amount did not include GST and the GSTIN of M Ltd. is 07ABCDE1234A1ZA.
Sale to Rohan Ltd. of Delhi of 200 pcs of Woolen Shirt @ Rs. 1,000 amounting to Rs. 2,00,000. This
2 amount did not include GST and GSTIN of Rohan Ltd. is 07AAAAA1234A1ZA.

Sale to R Ltd. of Haryana of 100 pcs Cotton Trouser @ Rs. 2,100 amounting to Rs. 2,10,000. The
3 amount did not include GST and the GSTIN of R Ltd. 06AAAAA1234A1ZA

4
Paid Rs. 1,15,000/- to M Ltd. in full settlement (including GST ) for the transaction at S. No. 1 above.
5 Received Rs. 2,30,000/- from R Ltd. in full settlement (including GST) for their transaction at S. No.
3 above.
6 Rohan Ltd. to whom sales were made at S. No. 2 above, returned 15 pcs of Woolen Shirts.

Purchased Plant & Machinery on 01-10-2022 for Rs. 8,00,000. This amount did not include GST and
7 the applicable GST is 18 %.

Purchased Land and Building (GST Exempted) at the beginning of the year from ABC Ltd. of Delhi
8
for Rs. 30,00,000. To pay ABC Ltd., the company borrowed from the bank, an unsecured loan of Rs.
10,00,000 and issued Debentures (Unsecured) for the balance amount.

9 Sold all the investment at a profit of 20% of book value.

30 pcs of Denim Trouser were destroyed due to abnormal reasons and the SNP Insurance Company
10 accepted the claim to the extent of 60% of the loss and the claim is still payable by the SNP Insurance
Company.
SRCC/2023 BCH: DSC - 1.3

Paid on 31/3/2023 -
11
(i) Electricity (GST Exempt) Rs. 20,000

(ii) Telephone Expenses inclusive of GST levied @ 18% Rs. 16,520

(iii) Salaries (including Outstanding at the beginning) Rs. 1,00,000

12 Rent received for the current financial year is Rs. 8,00,000

13 Outstanding Salary as at 31/03/2023 is Rs. 10,000.
14 Prepaid Insurance Premium as at 31/3/2023 is Zero

Adjustments: Charge Depreciation on Land & Building @ 5% p.a. and on Plant & Machinery @ 20% p.a.

Create a folder on your system by the last four digits of your University Examination Roll Number and
Export the following reports as on 31/3/2023 in PDF format in the folder :

(A) Daybook for the financial year 2022- 2023.

(B) Profit & Loss A/c for the financial year 2022-2023.
(C) Balance Sheet as at 31/03/2023.
(D) GSTR- 3B Report for the financial year 2022-2023.