Answer to Question #221465 in Management for SUSAN

Question

1. Please Create a Company in Tally Using Following Mentioned Details: - 

Company Name: - Zen Foundation. 

Primary Mailing Details. 

Mailing Name: - Zen Foundation.

Address: - Western Express Highway, Andheri (East), Mumbai

Country: - India State: - Maharashtra. Pin Code: - 400 099.

Contact Details.

Phone No.: - 022-224466 Mobile No.: - 99000 00000 Fax No.: - E-mail: - [e-mail] Website:- 

Books & Financial Year Details.

Financial Year Begins from: - 1-4-2020 Books Beginning from: - 1-4-2020 Security Control. Use Security Control: - No 

 

Base Currency Information

Base Currency symbol: - Rs. Formal Name: - INR Suffix Symbol to Amount: - No Add Space between Amt & Symbol: - Yes Show Amount in Millions: - No. Number of Decimal Places: - 2 Word Representing amount after Decimal: - Paise Number of Decimal Places for Amt in Words: - 2 

2. Ledger Creation and Accounting Entries in Tally.   

a. Create Following Ledger accounts in tally in Zen Foundation: - 

Account Name  Type (under)

Capital A/C Capital Account

Bank A/C Bank Account

Sales A/C Sales Account

Purchases A/C Purchases Account 

Rent Expenses A/C Expenses (Indirect)

Commission Received A/C Income (Indirect)

Commission Receivable A/C Current asset. 

b. Pass the Following Entries in Zen Foundation.                 

1. Capital Introduced in organization in Bank Rs. 1,20,000/- & in Cash Rs. 30,000/- on 1st April 2020. 2. Cash Deposited in bank on 2nd April 2020 Rs. 15,000/-.

3. Cash purchase of Rs. 40,000/- on 1st May 2020.(Paid From Bank)

4. Cash Sales of Rs. 30,000/- on 31st May 2020.(Received In bank) 

5. Rent Paid Rs. 10,000/- by Cheque on 2nd June 2020.

6. Commission receivable dues on 1st July 2020.

7. Commission received in bank Rs. 4,000/- on 31st July 2020.

8. Cash withdrawn from Bank Rs. 10,000/- on 2nd August 2020.

9. Debit Note Sent to Supplier For Rs. 2,000/- on 1st Oct 2020.

10. Debit Note Received from customer for Rs. 3,000/- on 1st Nov 2020. (To be enter in Credit Note.) 

Answer 1

Zen Foundation.

Western Express Highway, Andheri (East), Mumbai.

Pin Code: - 400 099.

India State: - Maharashtra.

Phone No.: - 022-224466

Mobile No.: - 99000 00000

E-mail: - [e-mail]