Answer to Question #222051 in Management for JESSY

Question

 3. Ledger Creation and Accounting Entries in Tally.   

 

A. Create Following Ledger accounts in tally in Osaka Corporation:-  (5 Marks) 

 

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)

XYZ Inc Sundry Creditor

ABC & Co. Sundry Debtor

Commission Received A/C Income (Indirect)

Commission Receivable A/C Current asset. 

Answer 1

Answer

The below table shows how the ledger accounts in tally in Osaka Corporation will be mapped to debit and credit. All expenses will be categorized as debit and income will be categorized as credit.