Tally (Short Term Course)

KERALA STATE RUTRONIX

Tally

(Short Term Course)

Question Code:       TA
Time:.                       2  hours
Maximum Marks  100

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

1) Assets which are held for a short period are known as ................
a) Current Assets
b) Circulating Assets
c) Floating assets
d) All of these

2) Withdrawal of goods or cash from the business by the owner for personal use is called .................
a) Drawings
b) Withdrawals
c) Liability
d) None of these

3) The accounting equation is a statement of .................... between the debits and credits.
a) Equality
b) Difference
c) Balance
d) None of these

4) in Tally, you can delete a ledger from the alteration mode by using the ................. shortcut key
a) Alt+C
b) Alt+D
c) Alt-Y
d) Ctrl+C

5) Journal is a book of ................ entry
a) Secondary entry
b) Primary Entry
c) Original Entry
d) Principal Entry

6) Trial Balance is .....................
a) A Statement
b) An Account
c) Summary
d) None of these

7) Debtors are also called ..........….....
a) Accounts receivable
b) Sundry creditors
c) Depositors
d) Accounts Payable

8) The default ledger account in Tally is ...…....
a) Capital & Cash
b) Profit & Loss A/c
c) Cash  and  P&L  A/C
d) P & L A/C and Bank A/C

9) The shortcut key to toggle between groups and ledger from Trial Balance is ….......….…
a) F6
b) F7
c) F5
d) F4

10) In Tally, we use F12 function key for .......…....
a) Change Voucher
b) Change Configuration
c) Change Master
d) Change Company features

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

11) The shortcut key to quit from Tally is ...............

12) In Tally, ................ function key is used to change the current date

13) ................. is the list of ledger balances as on the last date of Accounting period.

14) ................. has been introduced in lieu of sales tax.

15) Stock comes under ................. group in Tally

16) Bills receivable are shown on the ............ side of Balance Sheet.

17) ................ is allowed by the creditor to debtor for prompt payment

18) ................. voucher is used for adjustment transactions

19) Double entry system was invented by ................

20) Debts, the recovery of which is uncertain are called .................

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

21) Pacioli's Summa s the firs: known complete description of Double Entry Book-keeping

22) Trie Fixed Asset sale is not treated as sale.

23) The contra voucher found transfers 

between cash and bank accounts:

24) Debtor is a person to whom the business owes money

25) Purchase return should be deducted from stock

26) Companies include under artificial person account group

27) Salary comes under direct expenses in Tally

28) F5 is used for payments in Tally

29) Balance sheet is prepared as an account

30) Tally updates all reports as and when the transactions are entered

(Part IV, Part V എന്നിവയുടെ ഉത്തരങ്ങൾ മലയാളത്തിലും എഴുതാം)

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

31) What is Book-keeping?

32) Explain the features of Tally

33) What are the Accounting Systems?

34) Explain the Ledger Creation in Tally

35) Explain the differences between Journal & Ledger

36) Explain any five accounting vouchers in Tally

Part - V Answer the following (Any one)
(1 x 20 Marks = 20 Marks)

37) Pass Journal entries prepare Ledger accounts and Trial Balance of the following Transactions

a) 01-Jan-17 Commenced business with cash Rs 1,00,000/-

b) 03-Jan-17 Opened a current account with Bank Rs.15,000/-

c) 04-Jan-17 Bought Machinery Rs 4,000/-

d) 07-Jan-17 Withdrew cash from bank for office use Rs 3,000/-

e) 08-Jan-17 Purchased Goods Rs.9,000/-

f) 09-Jan-17 Sold goods for cash Rs 5,000/-

g) 11-Jan-17 Cash purchase from John Rs 3,000/-

h) 12-Jan-17 Purchased goods paid by cheque Rs 2,000/-

i) 13-Jan-17 Cash paid into Bank Rs 2,500/-

j) 16-Jan-17 Drew for office use Rs.1,000/-

k) 16-Jan-17 Purchased goods on credit from Rajan Rs.3,000/-

l) 17-Jan-17 Sold goods on credit to Mohan Rs.2,000/-

m) 18-Jan-17 Cheque issued to Rajan Rs 1,000/-

n) 19-Jan-17 Cheque received from Mohan Rs.1,000/-

o) 20-Jan-17 Goods returned by Mohan Rs 250/-

p) 22-Jan-17 Goods returned to Rajan Rs.300/-

q) 23-Jan-17 Mohan's cheque paid into Bank Rs. 1,000/-

r) 28-Jan-17 Bank charges for the month Rs 100/-

s) 30-Jan-17 Mohan's cheque was returned dishonoured Rs 1,000/-

t) 31-Jan-17 Received commission Rs 500/-

38) From the following Trial Balance of Mr. Manohar and other particulars given prepare Trading Profit & Loss account for the year ended 31-12-2016 and a Balance Sheet as
on that date

                                                       

Particulars	Dr. Amount	Cr. Amount
Plant & Machinery	23,000
Cash in hand	150
Cash at bank	1,250
Sundry Creditors		10,500
Commission		5,500
Trade Expenses	1,100
Sales		1,55,000
Sales Return	5,000
Salaries	2,500
Carriage Outwards	500
Rent	2,000
Insurance premium	2,000
Advertisement	2,000
Bills payable		6,000
Purchase Adjusted	1,29,500
Purchase Return		1,200
Discount Allowed	1,000
Discount Received		800
Closing Stock	10,000
Sundry Debtors	32,000
Business Premises	34,000
Capital		86,000
Drawings	5,000
Direct Wages	7,000
Indirect Wages	1,500
Bills Receivable	2,500
Rent Outstanding		500
Commission Accrude	500
Depreciation on Business Premises	1,000
Income Tax	2,000
	2,65,500	2,65,500

Adjustments

a) Carry forward half of the advertisement to the next year.
b) Provide 5% for doubtful debts and 2% for discount on debtors.
c) Commission to be provided for works manager at 5% of gross profit.
d) Goods lost by fire Rs.2.500h (Fully insured and the company admitted the claim in full)