Exercise No 8 Inventory Management In Tally Prime

Assignment 8: Indian Electronics

Create Company with following details:

INDIAN ELCTRONICS, 123, S.VRoad, Andheri (W), Mumbai-400058.

Tel.:628 4367/628 4497 Fax: 91-22-628 8490.

I.T. No. IE/515414 S.T. No.400058/S/265C.S.T. No. 400058/C/2589. Maintain Accounts with Inventory. Financial Year from 1.4.2016.

Company stores T.V. in Andheri Godown and Refrigerator other goods at ErlGodown.

 

AUGUST

1.        Business Started with Premises worth Rs.2, 00,000/- Computer Rs worth Rs.65000/-,

Cash at Indian Bank Rs.1, 50,000/- and Cash in Hand Rs.1, 00,000/-.

 

2.        Purchased on credit from BharaElectronics vide invoice no. BE/45:

14” BPL Colour TV            5 pcs              @Rs.5, 800/-

20” BPColour TV            5 pcs              @Rs.9, 850/-

20” Onida Colour TV        5 pcs              @Rs9, 800/-

14” Onida Colour TV        5 pcs              @Rs5, 750/-

 

1.      Insurance Premium paiRs.4, 855/- by Ch.No.411411.

2.       

5.        Sold on Cash:

14” BPL Colour TV            2 pcs              @Rs.7, 200/-

14” Onida Colour TV        2 pcs              @Rs.7, 200/-

* Sales amount was deposited into Bank.

 

7.        Furniture Purchased from Decent Interior wortRs.80, 000/-.

 

8.        Purchased from WesterElectronics on credit vide invoice No. WE/121.

165 lt. Godrej Refrigerator    5 pcs              @Rs.6, 850/-

165 lt. Voltas Refrigerator   5 pcs              @Rs.6, 850/-

300 lt. Godrej Refrigerator        5 pcs              @Rs.11, 850/-

300 lt. Voltas Refrigerator   5 pcs              @Rs.11, 850/-

 

10.      Sold on credit tElectronic World:

165 lt. Godrej Refrigerator        3 pcs              @Rs.9, 750/-

165 lt. Voltas Refrigerator   2 pcs              @Rs.9, 750/-

20” Onida Colour TV               5 pcs              @Rs.13, 400/-

14” Onida Colour TV                3 pcs              @Rs.7, 200/-

300 lt. Voltas Refrigerator    4 pcs              @Rs.14, 000/-

 

12.      Advertisement Expenses paiRs.3, 500/-.

 

13.      Paid tBharaElectronics in full by Ch. No. 411412.

 

15.      Invested in 9% Railway Bonds Rs.10, 000/- by Ch.No.411413.

 

16.      Sold on credit to King Electronics:

14” BPL Colour TV                      3 pcs              @Rs.7, 200/-

20” BPColour TV                      5 pcs              @Rs.13, 400/-

165 lt. Godrej Refrigerator                                2 pcs              @Rs.9, 750/-

165 lt. Voltas Refrigerator           3 pcs              @Rs.9, 750/-

300 lt. Godrej Refrigerator                                4 pcs              @Rs.14, 000/-

 

17.      Courier Charges paid Rs.95/- and TravelinExpenses paiRs.550/-.

 

19.      Received from Electronic World Rs.1, 93,000/- in full settlement by Ch.No.111444.

 

20.      Paid to WesterElectronic in full by Ch.No.411141.                

 

23.      Purchased on credit from BharaElectronics vide Invoice No.BE/65.

14” BPL Colour TV                      2 pcs              @Rs.5, 800/-

20” BPColour TV                      6 pcs              @Rs.9, 850/-

165 lt. Voltas Refrigerator           5 pcs              @Rs.6, 850/-

300 lt. Godrej Refrigerator                                3 pcs              @Rs.11, 850/-

20” Onida Colour TV

      5 pcs

@Rs.9, 800/-

14” Onida Colour TV

     10 pcs

@Rs.5, 750/-

 

 


24.      Received from Kings Electronics in full by Vh.N.225255.

 

26.      Salaries paiRs.5, 950/- Electric Bill paid Rs.1, 450/- by Ch.No.411416 and

Telephone bill paiRs.850/- by Ch.No.411417.             

 

29.      Company vacanted Irla Godown and All goods transferred to Andheri Godown.

 

30.      Paid on Account Rs.1, 50,000/- by Ch.No.411418 tBharat Electronics.

 

31.      Staff Welfare Expenses paiRs.825/- and Postage paid Rs.45/-.

 

ANSWER: Net Loss: 1, 88,115/-

 

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