Sample question
The company details are as follows:
1. Name- your name and Examination roll no
2. Address: your address, your phone & mobile no.
3. Currency symbol: Rs.
4. State: Delhi
5. GST : 07AACFD6829J1Z9
6. All the debtors and creditors are registered dealers from Delhi.
Enter the following transactions of the Company and show various reports.
Balance Sheet
as on 31st March, 2020
Liabilities Amount Assets Amount
Capital Account Fixed Assets
Reserves & Surplus Rs142,000 Land and Building Rs600,000
Capital Rs100,000 Plant and Rs400,000
Machinery
Investments
Loans (Liability) Investment Rs100,000
Current Assets
Secured Loans Rs15,00,000 Stock Rs499,000
Bank Loan Rs14,50,000 Sundry Debtors Rs175,000
Cash-in-hand Rs15,00,000
Current Liabilities state bank of india Rs10,00,000
Provisions Rs 300,000 Bills Receivables Rs642600
Sundry Creditors Rs220,000 Prepaid Rent Rs5,400.
Salaries Rs10,000
Outstanding
Profit & Loss A/c
Opening Balance Rs12,00,000
Total Rs49,22,000 Total Rs49,22,000
The Company deals in the following stocks: GST applicable @20%
Stock Group Stock Items Qty (pcs) Rate Amount
diary 70 Rs300 Rs21,000
File 40 Rs2,000 Rs80,000
office supplies Pen 400 Rs700 Rs280,000
Linen Trouser 50 Rs60 Rs3,000
Cap 100 Rs150 Rs15,000
Clothing Shirt 100 Rs1,000 Rs100,000
Rs 4,99,000
All the sundry creditors and debtors are registered dealers from Delhi
Sundry Creditors Amount Sundry Debtors Amount
Karen 100,000.00 sumitra 50000
Sanjay 100,000.00 Anand 75000
Disha 20,000.00 Samira Rs50,000
Total Rs 220,000 Total Rs 175,000
Record the following transactions that took place during the Financial Year 2020-21:
1. Cash deposited into SBI Rs.10,000
2. Cash withdrawn from SBI Rs. 15,000
3. Investment sold for Rs. 1,00,000 in cash
4. Depreciation charged on plant and machinery at 5%
5. Salary is paid Rs.4,000 including outstanding salaries in cash
6. Maintain salaries outstanding @ Rs 10,000.
7. Cash withdrawn for personal use Rs.6000
8. Purchased 20 shirts at the rate of Rs. 600 from karen
9. Karen. is paid Rs. 14,000 in full settlement of transaction no 8 via SBI
10. Sold 40 caps to sumitra at the rate of Rs. 1,000.
11. Received Rs. 45,000 in full settlement of transaction no 10 via SBI from sumitra.
12. Purchased 10 pen in cash @ Rs. 400 per unit (trade discount 5%)
You are required to:
1. Create a company as per details given above
2. Create appropriate groups and Ledger Accounts.
3. Enter the transactions as given, selecting the appropriate voucher type.
4. Display the following statements :
● Profit and Loss Account
● Balance Sheet
● Day Book
● Trial balance
