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We know that there are 6 types of Accounting Vouchers in tally
For every entry we have to think which type of entry
Assignment/Examples
Pass the following entries in Tally
Maintenance Charges Bill Received from SK Associates Rs 2500,Amt paid by Cheque of SBI Bank
View AnswerMaintenance Exp Dr 2500
To SK Associates 2500
SK Associates 2500
To SBI Bank 2500
(First Entry is Journal,Second is Payment
SK Associates is a Sundry Creditor,Maintenance Exp is Indirect Expense,SBI Bank Under Bank Account)
Furniture purchased from DK Furnishers Rs 10000,Amt paid by Cash
View AnswerFur Dr 10000
To DK Furnishers 10000
DK Furnishers 10000
To Cash 10000
(First Entry is Journal,Second is Payment
SK Associates is a Sundry Creditor,Furniture is Fixed Assets,Cash Account is already created)
Security Service Bill Received from Ravi Security Agency, Amt not yet paid
View AnswerSecurity Exp Dr 2500
To Ravi Security Agency 2500
(It is a Journal Entry
Security Exp is Indirect Expense and Ravi Security Agency is Sundry Creditors )
Professional Service Bill received from CA Amit Gupta Rs 40000
View AnswerProfessional Exp 40000
To CA Amit Gupta 40000
(It is a Journal Entry
Professional Exp is Indirect Expense and CA Amit Gupta is Sundry Creditors )
Salary paid to employees A,B,C,D and E Rs 15000 eac h by cash
View AnswerSalary Expense Dr 75000
To Cash 75000
(It is a Payment Entry)
Salary Expense is Indirect Expense ,Employee names are normally not recorded )
The company entered into contract with Alex and Co to provide Consultancy service of Rs 20000 on 20 Jan. As per terms, Rs 4000 was paid in advance by cheque of SBI Bank ON 22 Jan. Maxwell completed its work and sent its bill for technical service of Rs 20000 on 28 Jan and Balance 16000 was paid on 29 Ja n by cash
View Answer20 Jan
No Entry for Agreement Entered
22 Jan
Alex and Co 4000
To SBI Bank 40000
28 jan
Consultancy Exp Dr 20000
To Alex and Co 20000
29 Jan
Alex and Co Dr 16000
To Cash 16000
(The three Enries are Payment,Journal and payment
Consultancy Exp is Indirect Expense and Alex and Co is Sundry Creditors )
LOAN TAKEN
Loan taken from Director Ajay Patel Rs 200000 by cheque @12% p.a for 1 month
View AnswerSBI Bank A/c Dr 200000
To Ajay Patel Loan A/c 200000
Entry for Interest due
Int on Loan A/c Dr 1000
To Ajay Patel Loan A/C 201000
(Interest for the month= 200000*12%*1/12 =1000)
Entry for Amount paid including interest
Ajay Patel Loan A/C A/c Dr 201000
To SBI Bank A/C 201000
(Ajay Patel Loan A/C is Loans Liabilities,Int on Loan is Indirect Expense and SBI Bank is Bank Account)
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