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Tally entry

intermediate(ipc)course (no) (1460 Points)

31 December 2012

following entry pass which ledger & under which in ledger:given opening balancesheet

1. depriciation charged to furniture & fixture @ 10%,motor car @ 5% and office equipments @ 3%(on current balance).

2.court declared sfg ltd insolvent.so company has decided to write off his account.

3. sfg ltd returned 3 defective pagers.

4.sfg ltd cleared the bill no 2357 in full by cheque no.834781.break up for commission-A 3500,B 2500,C 3000.

(PL GIVE TREATMENT THOSE ENTRIES).

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CA D.C. Bansal (Accounts Head) (283 Points)
Replied 31 December 2012

Very first, you will have to post the opening balances in all the ledgers from opening balance sheet. Now pass the following entries:

1. depriciation charged to furniture & fixture @ 10%,motor car @ 5% and office equipments @ 3%(on current balance).

(After calculate depreciation)

Depreciation A/c...................Dr.

To Furniture & Fixture A/c

To Motor Car A/c

To Office Equipment A/c

2.court declared sfg ltd insolvent.so company has decided to write off his account.

Bad Debts...........................Dr.

To SFG Ltd.

3. sfg ltd returned 3 defective pagers.

Sales Return......................Dr.

To SFG Ltd.

4.sfg ltd cleared the bill no 2357 in full by cheque no.834781.break up for commission-A 3500,B 2500,C 3000.

Bank/Cash.......................Dr.

To SFG Ltd.

Pls revert for any further clarification.

intermediate(ipc)course (no) (1460 Points)
Replied 31 December 2012

entry no 4 .in which ledger entry no.4 is posted.

entry no.3 why sales return instead of purchase return.

CA D.C. Bansal (Accounts Head) (283 Points)
Replied 01 January 2013

Entry No.3: Since SFG Ltd has return the goods sold by you as you will have to debit the Sales Return.

Entry No.4: In Tally, you wlll have to post the entry thru receipt voucher. SFG A/c has to be credited and Bank/Cash has to bebited (Assuming that you have already pass the JV at the time of preparation of bills)

intermediate(ipc)course (no) (1460 Points)
Replied 01 January 2013

entry2 where it is posted in tally?

intermediate(ipc)course (no) (1460 Points)
Replied 01 January 2013

export masters & entries from x ltd & import into y ltd. at tally how it is possibled?export combined balance sheet report in excel.how it is done? at tally display combined balance sheet & profit & loss report how it is done ?

CA D.C. Bansal (Accounts Head) (283 Points)
Replied 03 January 2013

Entry No.2 has to be passed through Journal Voucher.

intermediate(ipc)course (no) (1460 Points)
Replied 17 January 2013

icai at kolkata has olt exam and project presentation of itt training.if you knowabout it please tell me details sourse of olt question & answer & project?