PROB-1

PARTICULARS

DR

CR

CAPITALS :PRIYA
ROHINI
RAJANI

1,00,000
2,00,000
1,50,000

FIXED ASSETS
LAND
VEHICLE
COMPUTERS

1,50,000
45,000
39,000

SUNDRY CREDITORS
PRIYA ENTERPRISES
SRINIVASA OIL&CO
SUNDHAR INDUSTRIES
KAMAL &CO
SOFTWARE.COM
BHAGYA LAKSHMI TRADERS

15,000
25,000
10,000
5,000
12,000
5,000

SUNDRY DEBTORS
DEEPTHI ENTERPRISES
RADHIKA TIMBER DEPO
RAMA RAO SYNDICATE
RAMI REDDY &CO
HEMA BABU BOOK DEPO
PRASAD &CO

25,000
30,000
90,000
5,000
2,250
2,250

CASH IN HAND
STATE BANK OF INDIA

80,000
53,500
5,22,000

5,22,000

1) COTTON SEEDS PURCHASED FROM SRINIVASA OIL &CO 200.50 QT

@20.50/2) TRAVELING EXPENSES 250/3) COTTON LINT PURCHASES 200 Qt @2,500/29

4) RENT ADVANCE PAID 8,000/5) TELEPHONE ADVANCE PAID 2,000/6) VAHICLE MAINTAINANCE 100/- FOR PETROL
7) DEPRICIATION ON VAHICLE 12%
8) COMPUTER REPAIRS 250/9) CHEQUE ISSUED to SUNDHAR INDUSTRIES 5,000/10) CHEQUE DEPOSITED ON THE BANK 5,900/11) RENT PAID BY CHEQUE 2,000/12) CAPPAS PURCHASED FROM KAMAL&CO 200 Qt @20.50/13) CASH WITHDRAWN FROM BANK 5,000/14) CHEQUE RECEIVED FROM RAMA RAO SYNDICATE 20,000/15) PRIYA TAKEN CASH FOR PERSONAL USE 20,000/16) APPRICIATION ON LAND 15%
17) BADDEBTS FROM DEEPTHI ENTERPRISES 2,500/18) COTTON LINT SALES 50 Qt @ 3,000/19) COTTON LINT PURCHASED FROM PRIYA ENTERPRISES 500 Qt @
3,000/20) CASH DEPOSIT TO BANK 25,000/21) HAMALIES PAID 250/22) ELECTRICITY BILL PAID 1,500/23) TELEPHONE BILL PAID 1,250/24) RENT RECIVED 2,000/25) N.S.C BONDS WAS PURCHASED 2,500/26) COTTON LINT SALES 200 Qt @ 3,500/27) CAPPAS WAS SALES TO RADHIKA TIMBER DEPO 100 Qt @25/28) OUTSTANDING EXPENCE PAID BY CHEQUE 2,000/29) COMMSSION PAID 200/30) COMMSSION RECEIVED 2,000/(B.S. Rs 21,52,174.56, P& L : 1,46,964.31, C S :- 12,91,874.56)

30

PROB-3
1. Ravi Started Chillies Business with 10,00,000/- as capital.
2. Opened A Bank A/C In S.B.I. By Depositing Rs. 7,50,000/3. Paid Telephone Deposit Rs 2,160, Electricity Deposit 5,000/- By Cash.
4. Purchased Office Furniture Rs. 50,000/- By Giving A Cheque Of No.3421 Drawn
On SBI.
5. Purchased A Motor Cycle Rs. 40,000/- By Taking Finance From Country Wide
Finance &Co
6. Purchased Chillies Of Rs 5,00,000/- From Raghavendra Chillis Corporation 200
Qts @ Rs 2,500/7. Sold Chillies For Cash 50 Qts @ 4,000/8. Paid Salaries In Cash 1000/9. Paid Office Rent Rs 2500/10. Paid Conveyance Charges To Office Boys Rs 1200/11. Sold Chillies to Red Spices & co 50 Qts @ Rs. 4200/12. Paid Rs 25,000/- To Raghavendra Chillies Corporation Cheque No 3422
13. Paid Rs 2500/- For Giving An Advertisement In Enadu By Cheque, No. 3423
14. Sold Chillies To Bose & Co 25 Qts @ 4200/15. Received Rs 25000/- By Cheque From Red Spices Co
16. Received Rs 10,000/- From Bose &Co In Cash
17. Paid Office Salaries Rs 5500/- In Cash
18. Paid Electricity Charges Rs 1500/- In Cash
19. Paid Telephone Charges Rs 550/- By Cash
20. Paid Rs 500/- For Printing & Stationary
( B.S.- 17,02,250/- P& L : 1,87,250/-, C. S. 1,87,500/-.)

31

PROB - 4
PARTICULARS

DR

CR

CAPITAL

5,40,000

FIXED ASSETS:
LAND&BUILDINGS
PLANT & MACHINERY
FURNITURE & FITTINGS

1,00,000
1,60,000
1,20,000

SUNDRY DEBTORS:
RAMESH TRADERS
SAI ENTERPRISES
BHADRAM & CO

40,000
1,60,000
1,20,000

VENUS TRADERS

1,40,000

SRIKANTH RICE MERCHENTS

60,000

SUNDRY CREDITORS:
SURESH & CO

1,20,000

SANKAR TRADERS

1,00,000

NAGESWARA RAO &CO

1,10,000

SATISH TRADERS

2,10,000

CASH IN HAND

60,000

STATE BANK OF INDIA

1,20,000
10,80,000

10,80,000

2 4 - 96
1) RICE PURCHASED 1000 Kgs @12/2) GROUND NUTS PURCHASED 500 Kgs @ 30/3) TAMARIND PURCHASED 200Kgs @20/3 - 4 96
4) RICE SOLD 200Kgs @13/-200
5) RICE PURCHASED FROM SANKAR TRADERS 500Kgs @ 12/6) CASH PAID TO SALARIES 1,000/7) CASH PAID TO RENT 500/32

4 4 96
8) CASH PAID TO STATIONARY 200/9) CASH PAID TO HAMALIES 600/10) CASH PAID TO ADVERTISEMENTS 400/11) CASH WITHDRAWN FROM BANK 50,000/6 - 4 96
12) CASH PAID TO SANKAR TRADERS 50,000/13) CHEQUE RECEIVED FROM BHADRAM&CO 60,000/14) GROUND NUTS SOLD TO BHADRAM & CO 200Kgs @ 35/15) TAMARIND SOLD 50 Kgs @25/8 4 96
16) GROUND NUTS PURCHASED FROM SURESH & CO 500 Kgs @30/17) TAMARIND PURCHASED FROM SRINU TRADERS 200 Kgs @ 20/10 4 96
18) RICE SOLD 500 Kgs @ 13/19) GROUND NUTS SOLD TO RAMESH TRADERS 300 Kgs @35/20) TAMARIND SOLD TO VIJAYA TRADERS 250 Kgs @ 25/21) CASH PAID TO TRANSPORT 600/22) CASH PAID TO RENT 1,000/15 4 - 96
23) SELLING EXPENCES PAID BY CHEQUE 1,000/24) ADMINISTRATIVE EXPENSES PAID BY CHEQUE 1,200/25) CHEQUE RECEIVED FROM SRIKANTH RICE MERCHENTS 30,000/26) CHEQUE ISSUED TO NAGESWARA RAO &CO 40,000/18 4 96
27) CASH RECEIVED FROM SAI ENTERPRISES 80,000/28) CASH DEPOSITED TO BANK 60,000/29) DEPRECIATION ON LAND &BUILDINGS 10%
30) DEPRECIATION ON PLANT & MACHINERY 5%
31) DEPRECIATION ON FURNITURE & FITTINGS 5%
33

32) GROUND NUTS SOLD TO SRIKANTH RICE MERCHENTS 300 Kgs @

33) RICE SOLD TO SAI ENTERPRISES 300 Kgs @ 13/( B.S. Rs. 10,15,000/- LOSS - Rs. 24,000/- )

34

35/-

PROB- 7
Prepare of Sales Invoice

1. CUSTOMER DETAILS : VIKAS ENTERPRISES ( WHOLE SALER)

ADDRESS : 1-21 N.G. ROAD, SECUNDERABAD.
2. Delivery Note : 7, Order No : 87, Order date : 15-08-2004.
3. Dispatch details
DC No. 786, Dispatch Through : AP Ms 147
4. Sales details as follows :
Bicycles, 20 Lady Bird ( Hero Make) @ as 2,100/- each.
Tvs 5 Mopeds 25 nos 21,000/- each.
5.

APGST @8% on bicycles, APGST 10% On Mopeds, Surcharge @ 10%

extra. Packing charges Rs. 2200/- Loading Charges Rs 1600/Insurance Rs .5500/-

35

PROB - 8
For maintain Bill wise details
Enter the following transactions for jubilee jewellers.
1. sales made to Vikas jewellers on credit of 30 days basis 1-4-99
a) 10 grams gold rings 1 number @ Rs. 6000/b) b) 12 grams ear hangings 3 pairs @ Rs. 7500/2. sales made to Vikas jewellers on credit 30 days basis 10-4/99
12 grams ear hangings 1 pair @ Rs. 7500/3. Sales made to vikas jewellers on credit 30 days basis 20-4/99
50 grams gold necklace 2 numbers @ Rs. 35000/4 Vikas jewellers paid Rs. 26500/- on 24/4/99, which is to be adjusted
proportionately @25% on all bills.
5 Vikas jewellers paid 53000/- to adjusted @ 50% on original amount of
25/4/99.
6 Calculate 12% interest on customer a/c and post the accounts.
PROB - 9
For stock journal.
Enter the following materials for modern pickles.
1. purchased the following materials for cash.
a. Mangoes 10 tons @ Rs. 6000/ per ton.
b. Tamarind 1 ton @ Rs 35000/- per ton.
c. 1 ton of salt @ Rs. 2000/- per ton.
d. Sunflower oils 3 tons @ Rs 40000/ per ton.
e. Zera 2 tons @ Rs. 18000/- per ton.
f. Red chillies powder 2 tons @ Rs. 30000/ per ton.
2. The following materials were issued to the production department.
a. Mangoes 5 tons.
b. Tamarind 1 ton.
c. Salt 1 ton.
36

bills

d. Sunflower oil 2 ton.

e. Red chills powder 1 ton.
f. Zera 1 ton.
3. In that shift 9 tons of mango pickle was produced and from the cost sheet
maintained in the production department the cost per ton of pickle including all
other overheads worked out Rs. 25000/- per ton.
4. 1 ton of mango pickle was rejected without any sale value due to defect in
production.
5. 1 ton of mangoes were returned to the stores being unutilized.
6. Sold 3 tons mango pickle @ 35000/7. Carriage in wards on raw material consumption (4,725)
8. Paid wages 2,000/-, power 2,000/-, other over heads 900/-, machine
maintenance cost 1100/9. depreciation on machinery 275/( P&L : Rs. 30,000/-, closing stock 2,49,000/-)

37

PROB- 10

Prepare of cost categories and cost centers.

Department

Salesman

Product

Marketing

Arun

Color TV

Finance

Suresh

Tape recorders

Personal

Gopal

Refrigerators

Purchase details as follows :Color TVs 100 nos @ Rs.8000/- each

Tape recorders 100 nos @ Rs.3000/- each
Refrigerators 100 nos @ Rs. 7000/- each

Conveyance charges paid at Rs. 15000/Arun 8000/-

Suresh 4000/- Gopal

3000/-

Cash Sales details as follows :-

Sales Man

Item

Arun

Color TV 70 nos @ Rs. 11000/Tape recorders 30 nos @ Rs. 4000/-

Suresh

Tape recorders 70 nos @ Rs. 4000/-

Gopal

Refrigerators 100 nos @ Rs. 9000/-

10% Commission paid to sales man on product.

38

PROB-11
BRS Statements :1. Rajesh introduced Capital in Ravi & Co., at Rs. 6,00,000/2. Cash deposited in Andhra Bank at Rs 6,00,000/3. Cash withdrawn from bank Rs. 68,000/4. Rajesh drawn from the bank Rs. 5,000/5. Cheque received from Sarat Rs. 70,000/6. Cheque received from Gopal Rs 2,00,000/7. Cheque received from Sri Ram Rs 32,000/8. Cheque received from Siva Sankar Rs 40,000/9. Cheque issued to Pavan Rs. 80,000/10. Cheque issued to Chandra Rs. 1,20,000/11. Cash Transferred from Sbi a/c to Andhra Bank Rs. 40,000/Below the adjustments are as under :
1. Sri Ram Cheque is not collected Rs. 32,000/2. Pavans Cheque is not collected at Rs. 80,000/3. Cheque Received from Ramesh Rs. 25,000/- not entered in the cash book
4. Cheque issued to Sastri Rs. 1,00,000/- not entered in the book.
5. Intrest of Rs. 19,000/- credited as bank statement and not entered in the book
The following amounts are debited in bank statement but not entered in the book.
a. Locker rent
b. Insurance
c. Services charges

2,000/4,000/1,000/-

Prepare Andhra bank reconciliation statement.

Balance as per bank statements Rs. 6,46,000/-

39

40

PROB - 12

1. Ravi capital introduced in Ravi&co., Rs. 10,00,000/2. Cash deposit in SBI Rs. 8,00,000/3. Purchased Office Premises at Rs. 1,00,000/4. Purchased Furniture Rs. 50,000/- through cheque
5. Telephone Deposit paid Rs. 3,000/- through cheque
6. Electricity Deposit paid through cheque Rs. 10,000/7. Secured deposit paid to Hero Honda Motors Ltd., Mumbai Rs. 5,00,000/8. Purchase details as follows :-

a) Hero Honda CD 100, 30 nos Rs. 38,000/- each

b) Hero Honda Spender 20 Nos Rs. 35,000/- each
c) Hero Puch 10 nos at Rs. 20,000/- each

sales details as follows :

a) Hero Honda CD 100, 5 nos Rs. 40,000/- each

b) Hero Honda Spender 10 Nos Rs. 42,000/- each
c) Hero Puch 8 nos at Rs. 25,000/- each

Sales to Sri Sai Agencies (Balgalore)

a) Hero Honda CD 100, 15 nos Rs. 40,000/- each

b) Hero Honda Spender 5 Nos Rs. 43,000/- each

41

Cheque received from Debtors Rs. 5,00,000/Sales to some employees (installment basis sales) details as follows.

Employee

Item

Amount

Anil

CD 100

40,000

Barat

Splender

43,000

Mahesh

Heropuch

26,000

Employees paid at Rs. 10,000/- each

Salaries paid through cheque details as follows :Clerk

2,500/-

Supervisor

3,500/-

Accountant

5000/-

Manager

5000/-

All Employees paid 10% on balance amount

Telephone bill paid through cheque Rs 7000/Electricity bill paid Rs. 10,000/Advertisement exp details as follows
Cine ads

Rs. 25,000/-

Website

Rs. 40,000/-

Poster

Rs.15,000/-

Auditors fee paid Rs. 5,000/Building Rent rs. 15,000/-

Prepare of all types of accounts

42

PROB-13
1. Srinivas Capital Introduced in Srinivasa Electronics Rs. 5,00,000/2. Bank account opened in Syndicate Bank Rs. 5,00,000/3. Building Advance paid Rs. 50,000/- through cheque
4. Telephone Deposit Rs. 3,000/5. Appointed 3 Employees.
1) Siva

2) Gopal 3) Pavan

6. Furniture purchased Rs. 30,000/- through cheque

7. Secured deposit paid to Philips India pvt ltd Rs. 1,00,000/Purchase details as follows :
a) Color TV 14 Inch 20 Nos Rs. 5,000/- each
b) Color TV 21 Inch 10 Nos Rs. 8,500/- each
c) Color TV 24 Inch 10 Nos Rs. 11,000/- each
d) Black & White Tv 14 Inch 5 Nos Rs 1,800/- each
e) Black & White Tv 20 Inch 5 Nos Rs. 2,500/- each
f) Refrigerators 1.65 ltr 5 Nos Rs. 6,000/- each
g) Refrigerators 2 ltr 5 Nos Rs. 9,000/Purchase spare parts details as follows :
a) Mother Board (Circuit Board) 10 Nos Rs. 1,000/- each
b) Tunes 10 Nos Rs. 80/- each
c) Power supply Board 10 Nos Rs 200/- each
d) IC 50 Nos Rs.40/- each
e) Transistors 50 Nos Rs. 10/- each
f) Lot 10 Nos Rs. 60/- each
g) Resisters 10 packets Rs. 100/- each
Amount paid to Creditors Rs. 3,00,000/- through Bank
Sales details as follows :
a) Color Tv 14 Inch 12 Nos Rs. 7,000/b) Color Tv 21 Inch 7 Nos Rs. 10,000/c) Color Tv 24 Inch 6 Nos Rs. 14,500/43

d) B/W TV 14 Inch 3 Nos Rs.2,500/e) B/W TV 20 Inch 2 Nos Rs.3,800/f) Refrigerators 1.65ltr 3 Nos Rs.8,000/-

Spare Parts :a) Circuit Board 2 Nos Rs 8,000/b) Lot 7 Nos Rs 80/c) Transistors 20 Nos Rs. 20/8. Salaries paid all employees at Rs. 3,000/- each
9. Telephone bill paid at Rs. 1,000/- each
10.

Elec. Bill paid Rs. 5,000/-

11.

Donation details as follows :

Municipality

500/-

Telecom dept.

100/-

Elec board

200/-

12.

Petrol allowance paid to employees at Rs. 100/- each

13.

Advertisement exp details as follows

Posters Rs. 1,000/Paper Ads Rs. 2,000/-

14.

Sales tax paid at Rs. 18,000/-

15.

2% Interest calculated on creditors and debtors balance amount

Purchase returns details as follows
B/W TV 14 Inch 1 no
B/W TV 20 inch 2 no
Prepare all types of accounts.

44

Prob -15
1.

Capital introduced by Johan Peter deposited in State Bank of India

10,00,000/-

2.

Office premises purchased by issuing a cheque drawn on State Bank of India

2,50,000/-

3.

Furniture & fixtures purchased by issuing a cheque 56,000/-

4.

Maruti car purchased by issued by cheque 2,90,000/-

5.

Computers system purchases by issued by cheque 35,000/-

6.

Fiat car purchased by taking car loan from state bank of India 1,10,000/-

7.

Air conditioner purchased by cheque 30,000/-

8.

Deposit paid to electricity by cheque 5,000/-

9.

Advance received from Ravi & co (customer) 50,000/-

10.

Deposit paid to telephone department 3,000/-

11.

Cash withdraw from bank 50,000/-

12.

Cash paid to printing &stationery 5,500/-

13.

Deposit paid to municipality in cash 1,000/-

14.

Investment made in NSC issue by cash 15,000/-

15.

Purchases equity shares in reliance industries by cheque 2,50,000/-

16.

Advance paid to Makarana Marbles (supplier) by cheque 5,00,000/-

17.

Loan received from Mrs. Mary deposited in state bank of India 10,00,000/-

18.

Loan received from Mr. Hari deposited in bank 2,00,000/-

19.

Advance received from Mohan enterprises by cheque 2,00,000/-

20.

Purchases 5000sq.ft of red granite slabs from Makarana marbles Jaipur on

credit of 30 days @ 90 per.sq.ft by issuing c form exfactory, sales tax 4%
extra.4,50,000/-

21.

Purchases 5000sq.ft. Of black granites slabs from Vikram Granites Abu Road
Rajasthan on credit of 30 days @ 100/-per sq.ft against c form sales tax
extra.5,00,000/-

22.

Deposit received from Mr. Bruce by cheque 1,00,000/-

23.

Freight paid to Larry for slabs received from Jaipur in cash 25,000/-

24.

Freight paid to Larry for slabs received from Abu Road Rajasthan in cash
24,000/-

25.

Purchased 10,000 sq.ft of multi color granite slabs from Makarana marbles
on 30 days credit @ 110 per sq.ft against c form sales tax extra 11,00,000/-

26.

Freight paid for slabs received from Makarana marbles in cash 25,000/-

27.

Overdraft arranged with SBI against primary security of stock and collect
security of office premises 50,00,000/-

28.

Packing material purchases in cash 2,000/45

29.

Sales made to Ravi & Co sq.ft of multicolor slabs @ 150 per sq.ft 16% sales
tax extra against cheque 75,000/-

30.

Sales made to Mohan enterprises 1000sq.ft of red granite slabs @ 150/- per
sq.ft on credit of 30 days sales tax extra 1,50,000/-

31.

Sales made to Raghu traders 2000 sq.ft of red granites slabs @ 150/- per
sq.ft on credit 16% sales tax extra 3,00,000/-

32.

Advertisement expenses paid 5,000/-

33.

Printing & stationery paid in cash 3,000/-

34.

Cash withdraw from bank 50,000/-

35.

Salaries paid to staff 24,000/-

36.

Travelling expenses incurred by sales staff 1,500/-

37.

Telephone bill paid by cheque 2,400/-

38.

Car petrol paid 500/-

39.

Postage expenses incurred 40/-

40.

Electricity bill paid 4,500/-

41.

Subscription to new paper 200/-

42.

Entertainment expenses incurred 2,500/-

43.

Commission on sales paid 10,000/-

44.

Insurance paid by cheque 15,000/-

45.

Xerox charges paid 50/-

46.

Donation paid in cash 500/-

47.

Sales made to Mohan enterprises 9000sq.ft of black granite slabs @150/-per

sq.ft 16%sales tax extra ,30days credit 1,35,000/-

48.

Sales made to Ravi & Co 1000sq.ft of back granite slabs @150/- per sq.ft
16% sales tax extra 30 days credit 1,50,000/-

49.

Sales made to Vikas marbles 2500 sq.ft of black granite slabs @ 150/- sq.ft
16% sales tax extra 30 days credit 3,75,000/-

50.

Salaries paid to staff in cash 25,000/-

51.

Subscription paid in cash 500/-

52.

Electricity bill paid in cash 3,000/-

53.

Telephone bill paid in cash 4,600/-

54.

Purchases made of black granite slabs@100/-per

sq.ft from Makarana

marbles ex factory , against c form and sales tax extra 5000 sq.ft 30 days
credit
55.

Freight paid for above purchases in cash 25,000/-

56.

Travelling expenses incurred in cash 4,500/-

57.

Income tax advance paid by cheque 50,000/-

58.

Drawings made by proprietor by cheque for personal use 10,000/-

59.

Postage incurred 60/46

60.

Repairs and maintenance incurred in cash 5,500/-

61.

Loan given to accountancy by cheque 5,000/-

62.

Loan given to sales man by cheque 10,000/-

63.

Hamali loading and unloading on stocks received from Jaipur, Abu road
1,000/-

64.

Petrol and engine oil purchases for cars 500/-

65.

Entertainment expenses paid 2,300/-

66.

Advertisement expenses paid in cash 5,800/-

67.

Insurance premium paid by cheque 15,000/-

68.

Bank charges credited to SBI account 550/-

69.

Sales made to Ravi &co 1000sq.ft of black granite slabs @150/- per sq.ft
,sales tax extra 30days credit 1,50,000/-

70.

Sales made to Mohan enterprises 500sq.ft of black granite slabs @ 150/-per

sq.ft sales tax extra 30 days credit 75,000/-

71.

Sales made to Raghu traders 1000sq.ft of multi color granite slabs @150/per sq.ft if sales tax extra 45days credit 1,50,000/-

72.

Sales made to Mikas marbles 1000sq.ft of red granite slabs @150/- per sq.ft
sales tax extra 45 days credit

73.

Payment made to Makarana marbles by cheque 5,20,000/-

74.

Payment made to Vikrant granites by cheque

75.

Payment made to Makara marbles by cheque 10,00,000/-

76.

Amount received from Mohan enterprises by cheque 1,74,000/-

77.

Amount received from Raghu Traders by cheque 3,48,000/-

78.

Amount received from Mohan enterprises by cheque 1,56,600/-

79.

Amount received from Ravi & co. By cheque 87000

80.

Amount traders from Raghu traders by cheque 4,35,000/-

81.

Amount received from Vikas marbles by cheque 1,50,000/-

82.

Amount received Raghu traders by cheque

83.

Amount received from Vikas marbles by cheque 1,50,000/-

84.

Amount received from Mohan traders by cheque 75,o00/-

85.

Payment made to Makarana marbles by cheque 5,20,000/-

86.

Salaries paid to staff 25,000/-

87.

Electricity bill paid 6,600/-

88.

Subscription paid 400/-

89.

Telephone bill paid 7,550/-

90.

Postage paid 90/-

91.

Xerox charged paid 150/-

92.

Petrol charged paid 500/-

93.

Drawings made by proprietor by cheque 10,000/47

5,20,000/-

1,50,000/-

94.

Car loan installment paid by cheque including interest Rs. 1000/- 15,000/-

95.

Travelling expenses paid by cash 4000/-

96.

Conveyance charges paid by cash 90

97.

Entertainment expenses paid by cash 2000/-

98.

Advertisement expenses paid by cheque 20,000/-

99.

Insurance premium paid by cheque 15,000/-

100.

Charity and donation paid by cheque 5,000/-

101.

Printing & stationery paid by cash 900/-

Answers: Net profits Rs. 2,18,120/Balance sheet total Rs. 1,22,09.720/Closing stock Rs. 14,92,400/Total direct expenses Rs. 1,00,000/Total indirect expenses Rs. 2,32,280/-

PROB - 16
PROJECT FOR COST CENTERS AND COST CATEGORIES
Create the following Cost Categories and Cost Centers
DEPARTMENT

PRODUCTS

SALESMAN

Marketing

Sm1

Bayers Tonic

Personal

Sm2

Dygiplus

Finance

Sm3

Mocaine Gel

Enter the following transactions:

1. Paid conveyance charges of Rs. 15,000/- to 3 salesman follows
Sm1 6,000/-

Sm2 7,000/-

Sm3 2,000/-

Also allocate these conveyance charges to the 3 products equally.

2. The following cash purchases are made
48

Bayer Tonic 1,000 bottles @ 20/- per bottle.

Dygiplus 1,000 bottles @ 25/- per bottle
Mocaine gel 1,000 bottles @ 30/- per bottle.
3. Salaries paid to be 3 salesman for the month of April 2000, as follows:
Sm1- 8,000/-

Sm2 10,000/-

Sm3 15,000/-

4. Sales made by the 3 salesmen as follows:

Sm1 - Bayer Tonic 400 bottles @ 60/- per bottle.
Dygiplex 200 bottles @ 80/- per bottle
Sm2 -

Mocaine gel 1,000 bottles @ 55/- per bottle.

Sm3 - Bayer Tonic 600 bottles @ 60/- per bottle.

Dygiplex 800 bottles @ 40/- per bottle
5. Paid 10% commission on sales to 3 salesmen. Also allocate this commission to
the 3 products.

Find out, which product is profitable and which salesman is efficient.

49

PROB - 17
PROJECT FOR CUSTOM FIELDS:
THE MARKETING MANAGER OF THE USER COMPANY WANTS TO SET UP
CUSTOM FIELDS FOR CUSTOMER ACCOUNTS OF THE COMPANY IN THE
FOLLOWING MANNER.
Names of the custom fields:
1.
2.
3.
4.

region
state
city
salesman
The company made the following sales transactions April 2000
1. 10 washing machine @ Rs. 12500/ each with 4% CST extra were sold to
Jain electronics Bangalore.
2. 5-color TVs were sold to RK Electronics, Calcutta @ Rs. 18200/- each 4%
CST extra.
3. 20 tape recorders were sold to Bharat Electronics, Chennai @ Rs. 2600/each 4% CST extra.
4. 5 washing machines @ Rs.12, 500/-, 5 tape recorders @ Rs. 2,600/-, 5 color
TVs @ Rs. 18,200/- were sold to Music India electronics Bombay with 4%
CST extra.
5. 10 color TVs sets @rs.18, 000/- and 10 tape recorders @ Rs. 2,500/- were
sold to HIFI sound and video waves Hyderabad 10% APGST extra.
6. 10 tape recorders sold to Devis Electronics, Gannavaram airport @
rs.3000/- each with 10 @ APGST extra.

Create net sales column and sales tax collected column and replace in place
of the net amount and others column respectively and generate APGST and
CST registers for the above sales.
The names of our company salesman are as follows.
1.
2.
3.
4.
5.
6.

CalcuttaMr. Chatterjee.
BombayJay Malhotra.
BangaloreBhaskar Rao
HyderabadHyder Ali
Vijayawada and Gannavaram Prasada Rao
Chennai Murugan
50

PROB - 18
Project for bank reconciliation statement.
Enter the following transactions for quarter ending 30th June 2000 for Terawet
corporations with state bank of India, Guntur branch.
1-4-2000: capital from Mr. m SBI
3-4-2000: Rs. 25000/- transferred from SBI OD account.
4-4-2000: cheque oRavi Rs. 1000000/- by cheque deposited in SBI.
2-4-2000: Rs. 10000/- cash withdrawn frof rs.105000/- received from Sandeep
traders deposited SBI.
5-4-2000: a cheque of Rs. 25000/- received from Ravi and co deposited in SBI.
6-4-2000: Rs. 10000/- withdrawn from SBI by Mr. Ravi for his personal use.
7-4-2000: Rs. 10000/- cheque issued to sales tax.
8-4-2000: a cheque of Rs. 10000/- issued towards salaries.
9-4-2000: a cheque of Rs. 50000/- issued to Vikranth.
10-42000: a cheque of Rs. 25000/- received from Vikas traders.
11-4-2000: a cheque of Rs. 40000/- received from Bose & Co deposited in SBI.
Terawet Corporation wants to reconcile bank accounts upto 30th June and on
scrutiny of bank statements of the following unreconciled transactions were
noticed.
1. closing balance as per bank statements:1131250/2. The following cheques issued towards sales tax Rs. 10000/- and to Vikranth
Traders Rs. 50,000/- were not presented by the parties for collection.
3. The following cheques deposited in bank were not collected and created to s.b.i
account 1) Rs. 25000/- cheque from Vikas traders. 2) Rs. 40000/- cheque from
Bose & co.
4. The following amounts were accounted as per bank statement and nonaccounted by Terawet Corporation.
a. Bank charges Rs. 500/
b. Locker rent Rs. 750/c. Insurance Rs. 2500/51

5. Interest of Rs. 10,000/- credited as per bank statement and not accounted by
Terawet Corporation.

52

PROB - 19
Project for Multi Currency Account:
1. Terrawet corporation based in Mumbai entered into an agreement on 10-4-2000
with John Deere INC, New York, for import of 10 Harvesting combines @
92,000/- U S Dollars each. The exchange rate of US Dollar on 10-4-2000 was
Rs. 43/- per Dollar.
2. Terrawet corporation made the payment through irrevocable offer of credit
drawn on SBI on 10-5-2000 for Rs. 9,20,000/- U.S. Dollar. The exchange rate on
10-5-2000 was Rs. 45/- Dollar.
The loss due to exchange rate fluctuation should be capitalized.

3. Terrawet corporation imported consumable spare parts for the Harvesting

combines from John Deere INC, on 1-6-2000 @ 100 dollars each, 100 numbers.
The exchange rate of dollar was 45/- rupees.
4. On the date of payment through L.C the exchange rate increased marginally to
Rs. 45.25/- per dollar.

The above loss due to exchange rate fluctuation should be treated as revenue
loss.

( B. S. Rs. 4,18,52,500/- LOSS - Rs. 2,500/- )

53

PROB - 20
Project for Security control.
The administrator Mr. Ravi Kiran of Gold leaf tobaccos whose password is
Goldkiran decided to create the following security levels and user using the basic
facilities of owner.
1. Accounts Manage
a)
b)

60 days allowed for backdated vouchers.

Full access disallowed on Balance Sheet, Profit and Loss a/c.

2. Accounts supervisor.
A) FULL ACCESS DISALLOWED ON BALANCE SHEET, PROFIT AND LOSS A/C ACCOUNTS MASTERS, INVENTORY MASTERS.
The following users were also created.
Name of the User

password

Security Level

1. Mr. XXXXXXX

XX10

2. Mr. YYYYYYY

YY23

3. Mr. ZZZZZZZZ
4. Mr. LLLLLLLL

ZZ56
LL84

Accounts
Manager
Accounts
Supervisor
Owner
Data Entry

54

Problem 21
Enter the following transactions for jublee jewellers
1) Mr. Jhon peter started jewellery business with the trade name as jublee jewellers
by investing Rs. 10,00,000/2) Opened Bank a/c in American Express bank by depositing Rs. 8,00,000/3) Purchase furniture for RS. 1,00,000/- and paid by cheque.
4) Purchased an electronic weighing machine for Rs. 7,500/- paid by cheque.
5) Purchased an automatic alarm system for Rs. 5000/- paid in cash
6) Withdrawn Rs. 1,00,000/- for business use through cheque
7) With drawn Rs. 10,000/- for personal use through cheque
8) Paid telephone deposit in cash Rs. 3,000/9) Paid electricity deposit in cash Rs. 10,000/10) paid showroom advance Rs. 1,00,000/- through cheque
Enter the following transactions
11)

Purchased the following gold jewelry ornaments from singar jewelers

a. 100g Necklaces 10 nos Rs. 50,000/- each

b. 120g Necklaces 5 nos Rs. 60,000/- each
12)

Purchased the following gold jewelry ornaments from diamond jewelers

a. 10g gold rings 5 nos Rs. 5,000/- each

b. 6g gold rings 5 nos Rs. 3,000/- each
c. 10g gold bangles 5 nos Rs. 5,000/- each
d. 20g ear hangings 5 sets Rs. 10,000/- each
13)

Paid telephone bill Rs. 2,500/- through cheque

14)

Paid electricity bill Rs. 3,200/- through cheque

15)

Paid for printing and stationery Rs. 1000/- each

16)

Arranged an over draft of Rs. 2,50,000/- with American Express Bank ( Only

O.D. is arranged so no entry will be entered).

17)

Sales (Cash) made of the following items

a. 10g gold rings 3 nos Rs. 6,000/- each

b. 6g gold rings 2 nos Rs. 3,800/- each
c. 10g Bangles 4 nos Rs.7,500/- each
d. 20g ear hangings 2 sets Rs. 14,000/- each
e. 100g neckalces 2 nos Rs. 65,000/- each
f. 120g necklaces 1 nos Rs. 75,000/- each.

55

18)

Out of the above sales one 10g gold ring was returned by the customer which

was settled in cash

19)

120g necklaces 2 nos credit sales made to Jain Jewelers Rs. 65,000/- each

20)

One necklace was returned by jain jewelers.

21)

Jain jewelers paid an amount of Rs. 50,000/-

56

PROB- 22
1. Four partnets started a business with the following capitals
Mr. Ravi

Rs. 5,00,000/-

Mr Vasu

Rs. 5,00,000/-

Mrs Radhika

Rs. 2,00,000/-

Mrs Smitha

Rs 3,00,000/-

These amounts deposited in Maharastra Bank ltd by the partnets

2. Cash withdrawn from M.Bank Rs. 40,000/3. Purchased Office premises Rs. 1,25,000/4. Purchased 4 Office Tables and 10 Chairs Rs.12,500/5. Electricity deposit paid Rs.2500/- by cash
6. taken distribution of Videocan Tvs frin Videocon India Ltd by Paying a deposit
amount of Rs.1,50,000/- by cheque
7. Purchased 75 color tv sets @ rs 8,000/- each and paid by cheque 2,00,000/and the balance on credit 4% sales tax extra
8. Purchased washing machines 25 numbers @ rs 5,000/- each on credit from
videocan ltd 4% sales tax extra
9. Spent rs 2,500/- on Traveling to madras on a business visit.
10. Mr. Vasu taken a washing machine for his personal use
11. SOLD 20 COLOR TV SETS TO VANITHA TRADERS A SUB-DELEAR @ RS 9,000/- ON
CREDIT OF 20 DAYS WITH 10% SALES TAX EXTRA
12. VANITHA TRADERS PAID RS.1,00,000/- BY CHEQUE ADJUST THIS AMOUNT
AGAINST THE ABOVE BILLS
13. SOLD 50 COLOR TV SETS ON CASH TO LOCAL CUSTOMER @ RS. 10,000/- EACH,
RATE INCLUSIVE SALES TAX 10%
14. SOLD 5 COLOR TV SETS @ RS. 12,000/- FOR CASH , RATE INCLUSIVE SALES TAX
10%
15. SOLD 10 WASHING MACHINES @ RS 7,500/- EACH FOR CASH, RATE INCLUSIVE
SALES TAX 10%
16. CALCULATE THE AMOUNT OF SALES TAX ON ALL ABOVE SALES AND PAY THE
SALES TAX TO THE COMMERCIAL TAX DEPARTMENT BY CHEQUE.
57

17. PAID VIDEOCAN RS. 7,00,000/- CHEQUE ( ADJUST THIS AMOUNT AGAINST THE
FIRST BILL AND THE BALANCE AMOUNT AGAINST THE SECOND BILL).
18. CALCULATE 2% INTEREST ON CUSTOMERS AND SUPPLIERS ACCOUNT BALANCE
AND POST THE INTEREST AMOUNTS TO THEIR RESPECTIVE ACCOUNTS
19. SOLD 2 OFFICE TABLES OR RS. 1,000/- EACH FOR CASH.
20. PAID PARTNERS PERSONAL ADVANCE INCOME TAX RS. 5,000/- EACH
21. PAID SALARY TO MANAGER RS. 5,000/- BY CHEQUE.
22. REPAIRS OF BUILDINGS OF OFFICE PREMISES RS. 2,500/-.
23. CALCULATE THE NET PROFIT AND DISTRIBUTE EQUALLY AMONG PARTNERS.
ANS :
B.S. : 20,84,032.80
P & L : 62,512.80
C. S. : 9,04,800

58