Table of Contents
Tally Assignment No.1
Record the following transactions in the books of M/s ABC Limited and prepare Bank Reconciliation Statement for the month of January 2020:
SL No | Date | Transactions for the month | Bank Date |
| 1 | 01/01/2020 | Started business with cash Rs 5,00,000. | – |
| 2 | 01/01/2020 | Cash deposit into SBI Rs. 1,00,000 | 01/01/2020 |
| 3 | 01/01/2020 | Cash withdrawn from SBI for office use Rs 70,000 | 01/01/2020 |
| 4 | 01/01/2020 | Transfer Rs 20,000 from SBI to HDFC Bank. | 01/01/2020 |
| 5 | 01/01/2020 | Cash withdraw by the owner Rs 2,500 for personal use. | 01/01/2020 |
| 6 | 01/01/2020 | Purchase goods from Kailash Hardware Parryware Steel Pedestal 200 pcs @ Rs 1500 each | – |
| Parryware Indus Basin 150 pcs @ 1200 each | |||
| 7 | 01/01/2020 | Sold goods to R.K.Enterprise Parryware Steel Pedestal 200 pcs @ Rs 1950 each | – |
| Parryware Indus Basin 150 pcs @ 1650 each | |||
| 8 | 01/01/2020 | Received cheque from R.K.Enterprise against Invoice No. 19-20/001 of Rs 752,250 and deposited in HDFC Bank. | 02/01/2020 |
| 9 | 02/01/2020 | Commission received in HDFC Bank of Rs 25000 | 31/01/2020 |
| 10 | 02/01/2020 | Purchase Furniture of Rs 15000 by cheque (SBI). | 31/01/2020 |
| 11 | 02/01/2020 | Paid cheque to Kailash Hardware, against Invoice No. 19-20/363 of Rs 250,000 from HDFC Bank | 31/01/2020 |
| 12 | 02/01/2020 | Bank deducted as Ledger Folio Charges from SBI Current Account Rs 90. | 02/01/2020 |
| 13 | 02/01/2020 | Paid Salary to Ram in cash Rs 9,500 in cash. | – |
| 14 | 31/01/2020 | Electricity Charges paid Rs 650 in cash | – |
| 15 | 31/01/2020 | Paid Audit Fee of Rs 3000 in cash. | – |
| 16 | 31/01/2020 | Received Interest from SBI of Rs 600. | 31/01/2020 |
| 17 | 31/01/2020 | Depreciation charged @10% on furniture. | – |
| 18 | 31/01/2020 | Cash withdraw by the owner Rs 2,500 for personal use. | – |
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Solutions
Journal Entries
S.No | Date | Particulars | Debit (Rs) | Credit (Rs) |
| 1 | 01/01/2020 | Cash A/c Dr. To Capital A/c (Started business) | 5,00,000 | 5,00,000 |
| 2 | 01/01/2020 | SBI A/c Dr. To Cash A/c (Cash deposited in bank) | 1,00,000 | 1,00,000 |
| 3 | 01/01/2020 | Cash A/c Dr. To SBI A/c (Cash withdrawn for office use) | 70,000 | 70,000 |
| 4 | 01/01/2020 | HDFC Bank A/c Dr. To SBI A/c (Transfer to HDFC) | 20,000 | 20,000 |
| 5 | 01/01/2020 | Drawings A/c Dr. To Cash A/c (Withdrawn by owner for personal use) | 2,500 | 2,500 |
| 6 | 01/01/2020 | Purchases A/c Dr. To Kailash Hardware A/c (Purchase goods) | 4,80,000 | 4,80,000 |
| 7 | 01/01/2020 | R.K. Enterprise A/c Dr. To Sales A/c (Sold goods) | 6,00,000 | 6,00,000 |
| 8 | 02/01/2020 | HDFC Bank A/c Dr. To R.K. Enterprise A/c (Cheque received & deposited) | 7,52,250 | 7,52,250 |
| 9 | 02/01/2020 | HDFC Bank A/c Dr. To Commission Received A/c | 25,000 | 25,000 |
| 10 | 02/01/2020 | Furniture A/c Dr. To SBI A/c (Furniture purchase by cheque) | 15,000 | 15,000 |
| 11 | 02/01/2020 | Kailash Hardware A/c Dr. To HDFC Bank A/c (Payment by cheque) | 2,50,000 | 2,50,000 |
| 12 | 02/01/2020 | Bank Charges A/c Dr. To SBI A/c (Ledger folio charges) | 90 | 90 |
| 13 | 02/01/2020 | Salary A/c Dr. To Cash A/c (Paid salary to Ram) | 9,500 | 9,500 |
| 14 | 31/01/2020 | Electricity Charges A/c Dr. To Cash A/c | 650 | 650 |
| 15 | 31/01/2020 | Audit Fee A/c Dr. To Cash A/c | 3,000 | 3,000 |
| 16 | 31/01/2020 | SBI A/c Dr. To Interest Received A/c | 600 | 600 |
| 17 | 31/01/2020 | Depreciation A/c Dr. To Furniture A/c (10% on Rs. 15,000 = Rs. 1,500) | 1,500 | 1,500 |
| 18 | 31/01/2020 | Drawings A/c Dr. To Cash A/c (Cash withdrawn by owner) | 2,500 | 2,500 |
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