Class 12 Samacheer Kalvi students, here are the text book solutions for Chapter 10, Computerised Accounting System Tally. If you have any doubts, please reach out to us in the comments section.
Multiple choice questions
Choose the correct answer:
| 1. Accounting report prepared according to the requirements of the user is | |
|---|---|
| (a) Routine accounting report | (b) Special purpose report |
| (c) Trial balance | (d) Balance sheet |
| 2. Function key F11 is used for | |
| (a) Company Features | (b) Accounting vouchers |
| (c) Company Configuration | (d) None of these |
| 3. Which submenu displays groups, ledgers and voucher types in Tally? | |
| (a) Inventory vouchers | (b) Accounting vouchers |
| (c) Company Info | (d) Account Info |
| 4. What are the predefined Ledger(s) in Tally? | |
| (i) Cash | |
| (ii) Profit & Loss A/c | |
| (iii) Capital A/c | |
| (a) Only (i) | (b) Only (ii) |
| (c) Both (i) and (ii) | (d) Both (ii) and (iii) |
| 5. Contra voucher is used for | |
| (a) Master entry | (b) Withdrawal of cash from bank for office use |
| (c) Reports | (d) Credit purchase of assets |
| 6. Which is not the default group in Tally? | |
| (a) Suspense account | (b) Outstanding expense |
| (c) Sales account | (d) Investments |
| 7. Salary account comes under which of the following head? | |
| (a) Direct Incomes | (b) Direct Expenses |
| (c) Indirect Incomes | (d) Indirect Expenses |
| 8. Rs. 25,000 withdrawn from bank for office use. In which voucher type, this transaction will be recorded | |
| (a) Contra Voucher | (b) Receipt Voucher |
| (c) Payment Voucher | (d) Sales Voucher |
| 9. In which voucher type credit purchase of furniture is recorded in Tally | |
| (a) Receipt voucher | (b) Journal voucher |
| (c) Purchase voucher | (d) Payment voucher |
| 10. Which of the following options is used to view Trial Balance from Gateway of Tally? | |
| (a) Gateway of Tally -> Reports -> Trial Balance | (b) Gateway of Tally -> Trial Balance |
| (c) Gateway of Tally -> Reports -> Display -> Trial Balance | (d) None of these |
II Very short answer questions
1. What is automated accounting system?
Automated accounting system is an approach to maintain up-to-date accounting records with the aid of accounting software.
2. What are accounting reports?
Accounting report is a compilation of accounting information that are derived from the accounting records of a business concern. Accounting reports may be classified as routine reports and special purpose reports.
3. State any five accounting reports.
Accounting reports include Day books / Journal; Ledger; Trial balance; Income statement and Balance sheet.
4. What is Accounting Information System (AIS)?
Accounting Information System (AIS) collects financial data, processes them and provides information to the various users.
5. What is a group in Tally.ERP 9?
In Tally, a Group is a collection of ledgers of the same nature. There are predefined groups of accounts which are widely used in accounts of many organisations. These predefined groups comply with the basic accounting principles of classifying various account heads into Assets, Liabilities, Income and Expense.
III Short answer questions
1. Write a brief note on accounting vouchers.
Voucher is a document which contains details of transactions. Transactions are to be recorded through voucher entries. Tally has a set of predefined vouchers such as Purchase, Sales, Payment, Receipt and Contra.
To view the list of voucher types:
Gateway of Tally > Masters > Accounts Info > Voucher Types > Display
2. What are the pre-defined ledgers available in Tally.ERP 9?
Tally has two predefined ledgers, Cash and Profit & Loss A/c.
3. Mention the commonly used voucher types in Tally.ERP 9.
Some of the commonly used voucher types used in an organisation are:
i) Receipt Voucher
ii) Payment Voucher
iii) Contra Voucher
iv) Purchase Voucher
v) Sales Voucher
vi) Journal Voucher
4. Explain how to view profit and loss statement in Tally.ERP 9.
To view Profit and Loss Account
F10: A/c Reports > Profit & Loss A/c > AltF1 (detailed)
(or)
Gateway of Tally > Reports > Profit & Loss A/c > AltF1 (detailed)
5. Explain any five applications of computerised accounting system.
The applications of CAS are as follows:
1. Maintaining accounting records: In CAS, accounting records can be maintained easily and efficiently for long time period. It does not require a large amount of physical space. It facilitates fast and accurate retrieval of data and information.
2. Inventory management: CAS facilitates efficient management of inventory. Fast moving, slow moving and obsolete inventory can be identified. Updated information about availability of inventory, level of inventory, etc., can be obtained instantly.
3. Report generation: CAS helps to generate various routine and special purpose reports.
4. Data import/export: Accounting data and information can be imported from or exported to other users within the organisation as well as outside the organisation.
5. Taxation: CAS helps to compute various taxes and to deduct these and deposit the same to the Government account.
IV Exercises
1. Record the following transactions in Tally.
(a) Devi commenced a business with a capital of Rs. 4,00,000
(b) An account was opened with Indian Bank and deposited Rs. 60,000
(c) Purchased furniture by paying cash Rs. 15,000
(d) Goods purchased on credit from Sumathy for Rs. 50,000
(e) Cash sales made for Rs. 10,000
(f) Goods purchased from Raja for Rs. 5,000 and paid by cheque
(g) Goods sold to Arun on credit for Rs. 70,000
(h) Money withdrawn from bank for office use Rs. 25,000
(i) Part payment of Rs. 30,000 made to Sumathy by cheque
(j) Arun made part payment of Rs. 10,000 by cash
(k) Salaries paid to staff through ECS Rs. 36,000
(l) Carriage on purchases of Rs. 6,000 paid by cash
(m) Purchased computer from Muthu Ltd. on credit Rs. 44,000
| Sr.No | Particulars | Debit | Credit | Voucher Type | Group |
|---|---|---|---|---|---|
| (a) | Cash A/c Dr. To Devi’s Capital A/c | 4,00,000 | 4,00,000 | Receipt Voucher | Cash in hand Capital account |
| (b) | Indian Bank a/c Dr. To Cash a/c | 60,000 | 60,000 | Contra Voucher | Bank account Cash in hand |
| (c) | Furniture a/c Dr. To Cash a/c | 15,000 | 15,000 | Payment Voucher | Fixed Assets Cash in hand |
| (d) | Purchases a/c Dr. To Sumathy a/c | 50,000 | 50,000 | Purchase Voucher | Purchase a/c Sundry Creditors |
| (e) | Cash A/c Dr. To Sales A/c | 10,000 | 10,000 | Sales Voucher | Cash in hand Sales account |
| (f) | Purchases a/c Dr. To Bank a/c | 5,000 | 5,000 | Purchase Voucher | Purchase a/c Cash in hand |
| (g) | Arun A/c Dr. To Sales A/c | 70,000 | 70,000 | Sales Voucher | Sundry Debtors Sales account |
| (h) | Cash A/c Dr. To Bank A/c | 25,000 | 25,000 | Contra Voucher | Cash in hand Bank account |
| (i) | Sumathy a/c Dr. To bank a/c | 30,000 | 30,000 | Payment Voucher | Sundry Creditors Bank account |
| (j) | Cash a/c Dr. To Arun's account | 10,000 | 10,000 | Receipt Voucher | Cash in hand Sundry Debtors |
| (k) | Salaries a/c Dr. To bank a/c | 36,000 | 36,000 | Payment Voucher | Indirect Expenses Bank account |
| (l) | Carriage a/c Dr. To cash a/c | 6,000 | 6,000 | Payment Voucher | Direct Expenses Cash in hand |
| (m) | Computer a/c Dr. To Muthu Ltd. a/c | 44,000 | 44,000 | Purchase Voucher | Fixed assets Sundry Creditors |
Following steps are to be followed to enter the transactions in Tally.ERP 9
To create company
Company Info > Create Company
Type the Name as Devi and keep all other fields as they are and choose ‘Yes’ to accept.
To maintain accounts only
Gateway of Tally > F11 Accounting Features > General > Maintain accounts only: Yes > Accept Yes
To create ledger accounts with opening balances
Gateway of Tally > Masters > Accounts Info > Ledgers > Single Ledger > Create
| Creation of | Name | Under | Accept |
|---|---|---|---|
| Devi’s Capital A/c | Devi’s Capital A/c | Capital A/c | Yes |
| Indian Bank | Indian Bank a/c | Bank a/c | Yes |
| Furniture A/c | Furniture A/c | Fixed Assets | Yes |
| Purchases a/c | Purchases a/c | Purchases | Yes |
| Sumathy a/c | Sumathy a/c | Sundry Creditors a/c | Yes |
| Sales a/c | Sales a/c | Sales account | Yes |
| Arun a/c | Arun a/c | Debtors a/c | Yes |
| Salaries a/c | Salaries a/c | Indirect Expenses a/c | Yes |
| Carriage a/c | Carriage a/c | Direct Expenses a/c | Yes |
| Computer a/c | Computer a/c | Assets a/c | Yes |
| Muthu Ltd. | Muthu Ltd. | Sundry Creditors a/c | Yes |
To enter transactions through vouchers:
Gateway of Tally > Transactions > Accounting Vouchers
(a) Devi commenced a business with a capital of Rs. 4,00,000
F6: Receipts voucher
Account: Cash
Particulars: Devi’s Capital a/c
Amount: 400,000
Narration: Capital introduced.
Accept: Yes
(b) An account was opened with Indian Bank and deposited Rs. 60,000
F4: Contra voucher
Account: Indian Bank
Particulars: Cash a/c
Amount: 60,000
Narration: Opened bank a/c in Indian Bank
Accept: Yes
(c) Purchased furniture by paying cash Rs. 15,000
F5: Payment voucher
Account: Cash
Particulars: Furniture a/c
Amount: 15,000
Narration: Furniture bought by cash
Accept: Yes
(d) Goods purchased on credit from Sumathy for Rs. 50,000
F9: Purchase voucher party a/c
Account: Sumathy’s a/c
Particulars: Purchase a/c
Amount: 50,000
Narration: Furniture bought by cash
Accept: Yes
(e) Cash sales made for Rs. 10,000
F8: Sales voucher
Account: Cash a/c
Particulars: Sales a/c
Amount: 10,000
Narration: Furniture bought by cash
Accept: Yes
(f) Goods purchased from Raja for Rs. 5,000 and paid by cheque
F9: Purchase voucher
Account: Bank a/c
Particulars: Purchases a/c
Amount: 50,000
Narration: Purchased by cheque
Accept: Yes
(g) Goods sold to Arun on credit for Rs. 70,000
F8: Sales voucher party a/c
Account: Arun a/c
Particulars: Sales a/c
Amount: 70,000
Narration: Goods sold on credit to Arun
Accept: Yes
(h) Money withdrawn from bank for office use Rs. 25,000
F4: Contra voucher
Account: Cash a/c
Particulars: Indian bank
Amount: 25,000
Narration: Cash withdrawn from bank
Accept: Yes
(i) Part payment of Rs. 30,000 made to Sumathy by cheque
F5: Payment voucher
Account: Indian Bank
Particulars: Sumathy a/c
Amount: 30,000
Narration: Payment made to Sumathy by cheque
Accept: Yes
(j) Arun made part payment of Rs. 10,000 by cash
F6: Receipts voucher
Account: Cash
Particulars: Cash a/c
Amount: 10,000
Narration: Receipt of cash
Accept: Yes
(k) Salaries paid to staff through ECS Rs. 36,000
F5: Payment voucher
Account: Indian Bank
Particulars: Salaries a/c
Amount: 36,000
Narration: Salaries paid through ECS
Accept: Yes
(l) Carriage on purchases of Rs. 6,000 paid by cash
F5: Payment voucher
Account: Cash
Particulars: Carriage a/c
Amount: 6,000
Narration: Carriage paid by cash
Accept: Yes
(m) Purchased computer from Muthu Ltd. on credit Rs. 44,000
F7: Journal voucher
Account: Computer account
Particulars: Muthu Ltd. a/c
Amount: 44,000
Narration: Computer bought on credit from Muthu Ltd.
Accept: Yes
To view reports
(i) To view Trial Balance
Gateway of Tally > Reports > Display > Trial Balance > Alt F1 (detailed)
(ii) To view Profit and Loss Account
F10: A/c Reports > Profit & Loss A/c > AltF1 (detailed)
(or)
Gateway of Tally > Reports > Profit & Loss A/c > Alt F1 (detailed)
(iii) To view Balance Sheet
F10: A/c Reports > Balance Sheet > AltF1 (detailed)
(or)
Gateway of Tally > Reports > Balance Sheet > AltF1 (detailed)
(iv) To view Ratio Analysis
F10: A/c Reports > Ratio Analysis
(or)
Gateway of Tally > Reports > Ratio Analysis
(v) To view Day Book
F10: A/c Reports > Day Book > AltF1 (detailed)
(or)
Gateway of Tally > Reports > Display> Day Book > AltF1 (detailed)
2. The following balance sheet has been prepared from the books of Pearl on 1-4-2018.
| Liabilities | Rs. | Assets | Rs. |
|---|---|---|---|
| Capital | 1,60,000 | Buildings | 40,000 |
| Sundry creditors: | Furniture | 20,000 | |
| Maya A/c | 20,000 | Stock | 10,000 |
| Sundry debtors | |||
| Peter | 20,000 | ||
| Cash in hand | 30,000 | ||
| Cash at bank | 60,000 | ||
| Total | 1,80,000 | 1,80,000 |
During the year the following transactions took place.
(a) Wages paid by cash Rs. 4,000
(b) Salaries paid by cheque Rs. 10,000
(c) Cash purchases made for Rs. 4,000
(d) Good purchased on credit from Yazhini Rs. 30,000
(e) Goods sold on credit to Jothi Rs. 40,000
(f) Payment made to Yazhini through NEFT Rs. 6,000
(g) Cash received from Peter Rs. 10,000
(h) Cash sales made for Rs. 4,000
(i) Depreciate buildings at 20%
(j) Closing stock on 31.03.2019 Rs. 9,000
You are required to prepare trading and profit and loss account for the year ended 31-03-2019 and a balance sheet as on that date using Tally.
To create company:
Company Info > Create Company
Type the company name as Pearl and choose ‘Yes’ to accept data and create the company.
To maintain accounts only:
Gateway of Tally F11 > Accounting Features > General> Maintain accounts only >Yes Accept > Yes
To create ledger accounts with opening balances:
Gateway of Tally > Masters > Accounts Info> Ledgers >Simple Ledger>Create
| Creation of | Name | Under | Amount | Accept |
|---|---|---|---|---|
| Peral’s Capital A/c | Peral’s Capital A/c | Capital A/c | 160000 | Yes |
| Maya's account (Sundry Creditors) | Maya's account | Sundry Creditors | 20000 | Yes |
| Buildings a/c | Buildings a/c | Fixed Assets | 40000 | Yes |
| Furniture a/c | Furniture a/c | Fixed Assets | 20000 | Yes |
| Opening Stock a/c | Opening Stock a/c | Stock in hand | 10000 | Yes |
| Peter's a/c (Sundry Debtors) | Peter's a/c | Sundry Debtors | 20000 | Yes |
| Cash in hand | Cash in hand | Cash in hand | 30000 | Yes |
| Cash at bank | Cash at bank | Bank accounts | 60000 | Yes |
Cash account need not be created as it is a default ledger. Only the opening balance has to be recorded by altering the cash account.
To record the opening balance of cash:
Gateway of Tally > Masters > Accounts Info > Ledgers > Single Ledger > Alter
To create ledger accounts for transactions:
| Creation of | Name | Under | Accept | |
|---|---|---|---|---|
| Wages A/c | Wages A/c | Direct Expenses | Yes | |
| Salaries A/c | Salaries A/c | Indirect Expenses | Yes | |
| Purchases A/c | Purchases A/c | Purchases Accounts | Yes | |
| Yazhini A/c | Yazhini A/c | Sundry Creditors | Yes | |
| Sales A/c | Sales A/c | Sales Accounts | Yes | |
| Peter A/c | Peter A/c | Sundry Debtors | Yes | |
| Depreciation A/c | Depreciation A/c | Indirect Expenses | Yes |
To enter transactions through vouchers:
Gateway of Tally > Transactions > Accounting Vouchers
(a) Wages of Rs. 4,000 paid by cash
F5: Payment Voucher Account:
Cash Particulars: Wages A/c
Amount: Rs. 4,000
Narration: Wages paid by cash
Accept: Yes
(b) Salaries paid by cheque Rs. 10,000
F5: Payment Voucher
Account: Bank
Particulars: Salaries A/c
Amount: Rs. 10,000
Narration: Salaries paid by cheque
Accept: Yes
(c) Cash purchases made for Rs. 4,000
F9: Purchase Voucher
Account: Cash
Particulars: Purchases A/c
Amount: Rs. 4,000
Narration: Cash purchases
Accept: Yes
(d) Goods purchased on credit from Yazhini Rs. 30,000
F9: Purchase Voucher
Account: Yazhini
Particulars: Purchases A/c
Amount: Rs. 30,000
Narration: Credit purchase from Yazhini
Accept: Yes
(e) Goods sold on credit to Jothi Rs. 40,000
F8: Sales Voucher
Account: Jothi
Particulars: Sales A/c
Amount: Rs. 40,000
Narration: Credit sales to Jothi
Accept: Yes
(f) Payment made to Yazhini through NEFT Rs. 6,000
F5: Payment Voucher
Account: Bank
Particulars: Yazhini
Amount: Rs. 6,000
Narration: Payment made to Yazhini through NEFT
Accept: Yes
(g) Cash received from Peter Rs. 10,000
F6: Receipt Voucher
Account: Cash
Particulars: Peter
Amount: Rs. 10,000
Narration: Cash received from Peter
Accept: Yes
(h) Cash sales made for Rs. 4,000
F8: Sales Voucher
Account: Cash
Particulars: Sales A/c
Amount: Rs. 4,000
Narration: Cash sales made
Accept: Yes
(i) Depreciate buildings at 20%
(Assume building value already in books; depreciation entered through journal)
F7: Journal Voucher
Account: Depreciation A/c
Particulars: Buildings A/c
Amount: Rs.8000
Narration: Depreciation charged on buildings @ 20%
Accept: Yes
(j) Closing stock on 31.03.2019 Rs. 9,000
F7: Journal Voucher
Account: Closing Stock A/c
Particulars: Trading A/c
Amount: Rs. 9,000
Narration: Closing stock valued at Rs. 9,000
Accept: Yes
To view reports:
(i) To view Trial Balance
Gateway of Tally > Reports > Display > Trial Balance > Alt F1 (detailed)
(ii) To view Profit and Loss Account:
F10: A/c Reports > Profit & Loss A/c > AltF1 (detailed)
(or)
Gateway of Tally > Reports > Profit & Loss A/c > Alt F1 (detailed)
(iii)To view Balance Sheet:
F10: A/c Reports > Balance Sheet > AltF1 (detailed)
(or)
Gateway of Tally > Reports > Balance Sheet > AltF1 (detailed)
(iv) To view Ratio Analysis:
F10: A/c Reports > Ratio Analysis
(or)
Gateway of Tally > Reports > Ratio Analysis
(v) To view Day Book:
F10: A/c Reports > Day Book > AltF1 (detailed)
(or)
Gateway of Tally > Reports > Display> Day Book > AltF1 (detailed)
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