Accounting Tally Model Question Papers

KERALA RUTRONIX

Accounting Tally

Time.                      : 2 hours
Maximum Marks : 100

Note: Write the answers for Questions from 1 to 30 in the MCQ answer sheet.

Part-I Choose the correct answer
(10 x 1 Mark = 10 Marks)

1) ................. is also widely referred to as the "language of business"
a)  Accounting
b) Book-keeping
c) Costing
d) None of these

2) Which of the following is the accounting equation
a) Asset = Capital
b) Asset = Capital - Liability
c) Asset = Capital + Liability
d) None of these

3) in Tally. the shortcut hy iv access calculator is ..…......….…
a) Ctrl + N
b) Ctrl + M
c) Ctrl + C
d) None of these

4) A Bank Reconciliation statement is prepared by ....….........
a) Banker
b) by Customer
c) Debtor
d) None of these

5) Recording of transactions in the journal is called ..............
a) Posting
b) Journalizing
c) Balancing
d) None of these

6) In Tall the ..….....…...... function key is used to get Journal Voucher Entry Screen
a) F5
b) F6
c) F7
d) F8

7) Salaries paid to Madhav amounting to 3,000 will be debited to ......…...
a) Salaries account
b) Madhav's account
c) Cash account
d) None of these

8) .…….......... is used for selling purpose.
a) Fixed asset
b) Intangible asset
c) Current asset
d) None of these

9) The amount of goods withdrawn by the proprietors for his personal used is term as ...…...........
a) Capital
b) Drawing
c) Withdrawal
d) None of these

10) The main window of Tally is called .................
a) Account info
b) Display
c) Gateway of Tally
d) None of these

Part - II  Fill in the blanks
(10 × 1 Mark = 10 Marks)

11) A ledger account is prepared in ................
form

12) In tally bad debts come under .............. group

13) Depreciation comes under ............. groups in Tally

14) Every transaction will affect a minimum of ................... accounts

15) Expenses paid before current date is called is ...................

16) In Tally the shortcut key to view detailed report in all report screen ...............

17) In Real account ............ what comes in and ........……... What goes out

18) ..........….... key is used for receipt voucher in Tally

19) .....….......... key is used to delete a company

20) Only .............. accounts are entered in a profit and Loss account

Part-III State whether True or False
(10× 1 Mark = 10 Marks)

21) Tally is the world's first concurrent multilingual business accounting and inventory management software.

22) Balance sheet is a statement

23) When debit side is greater than credit side in trading account it is called gross profit.

24) Rent Rates and Taxes are credited to Trading account

25) Alt - C key used for create secondary ledger in Tally

26) Tally is very flexible to user

27) The prepaid expenses are related to the current year but remain unpaid

28) The Ledger is a book that comes after the journal

29) Current assets are constantly used in the business

30) The short explanation of a journal entry is known as narration

Part IV Answer the following (Any five)
(5 x 10 Marks = 50 Marks)

31) What is meant balance sheet?  Draw the form of balance sheet

32) Define accounting Distinguish between accounting and book keeping

33) Explain Journal & Ledger

34) What are Financial Statements

35) Explain any five accounting vouchers in tally 

36) Calculate the gross profit of the following

Purchase.                     8,679
Purchase Returns      1,380
Sales.                            11,800
Sales Returns.             1,659
Wages                           589
Carriage Charges.       300
Opening stock.            1,250
Closing Stock.              3,700

Part - V Answer any one of the following
(1 × 20 Marks = 20 Marks)

37)  Enter the following transactions in the journal of Arjun for the month of December 2009
a) 1 - Dec  Arjun commenced his business with a capital of 10,000

b) 1 - Dec Bought machinery 300

c) 2 - Dec Bought goods for cash from Ram 500

d) 2 - Dec Sold goods for cash to Hari 4,000

e) 3 - Dec Purchased goods from Jai on credit 2,200

f) 4 - Dec Cash Sale to Hari 2,000

g) 5  - Dec Bought goods from Sunder on credit 1,920

h) 5  - Dec Credit sales to Hari 3,200

i) 6 - Dec Bought goods from Jai on credit. 2,300

j) 8 - Dec Bought office furniture for cash from A Ltd  3,050

j) 17 - Dec Paid trade expenses 10

k) 18 - Dec Paid advertisement expenses to Sunil Agencies 200

l) 19 - Dec Received interest from Anil 50

m) 20 - Dec Deposited cash into bank 1,000

n) 22 - Dec Paid rent 150

o) 27 - Dec Paid insurance premium 30

p) 29 - Dec Paid salary to Mahesh (clerk) 325

OR

38) The following is the Trial Balance of Narayana Moorthy as on 31st December 2009
Prepare Trading and Profit and Loss Account and a Balance Sheet.

Adjustments

a) Stock on 31-12-2009 ₹17,200

b) Commission accrued but not received amounts to ₹450

c) Rent receivable amounts to ₹100

d) Carriage outwards outstanding ₹200

e) Insurance paid in advance ₹150                                                                                                                                                                                              

Particulars	Dr. Amount	Cr. Amount
Capital of Narayan Moorthy		15,000
Purchase	55,000
Drawings	2,500
Stock (1-1-2009)	11,000
Furniture	1,300
Bank Overdraft		2,100
Creditors		7,900
Premises		10,000
Book Debts	9,000
Rent		500
Sales Return	1,000
Sales		75,000
Discount Received		200
Insurance	500
Commission Received		1,000
Sundry Expenses	2,500
Carriage Outwards	3,300
Cash	5,600
	1,01,700	1,01,700