TALLY TEST

Q1- True and false

a)      If you will change the tally vault password tally will create a new company?

Ans - Yes.

b)     Price list and standard rate are different?

Ans - Yes.

c)      Rates are based on quantity in the price list?

Ans - Yes.

d)     We can activate the actual & billed quantity options from the inventory info?

Ans - Yes.

e)     F7 is the key to the journal voucher?

Ans - Yes.

f)       Before deleting a cost center, we must delete the used voucher entry?

Ans - Yes.

g)      Inventory info comes on the gateway of the tally screen?

Ans - Yes.

h)     Do Stock group & stock items are the same options?
Ans - No.

Q2- Fill in the blanks-

a)      ___________voucher is used when entering cash deposits and cash withdrawals from the bank.

Ans - Contra voucher.

b)     The _________option is used to maintain outstanding.

Ans - Outstanding

c)      ____________key is used to delete a ledger, voucher, or a company.

Ans - Atl + D

d)     All adjustment entries are entered as______________.

Ans - Journal voucher

Q3- Journal Entries

a)      Owner introduced Rs. 60,000 in SBI bank and Rs. 70,000 in AXIS bank A/c.

Example: SBI bank a/c  Dr -60,000

                 AXIS Bank a/c Dr-70,000

                        To Capital a/c - 1,10,000 

b)     Wages paid Rs. 1500 through cash.

Example: Wages a/c Dr- 1500

                        To Cash a/c -1500

c)      Cash withdrawal from ICIC bank a/c Rs. 5000 (cheque no. 54866546)

Example: Cash a/c Dr- 5000

                        To ICIC bank a/c -5000

d)     Received Rs. 200 /- from ICIC bank a/c and Rs. 150/- from Axis bank a/c as interest amount.

Example:  Rec. Interest a/c -350

                        To ICIC bank a/c-200

                        To Axis bank a/c-150

e)     Paid Rs. 200 /- for office stationery through petty cash book.

Example: Office stationery a/c - 200

                        To petty cash a/c -200 

f)       Cash transferred Rs. 1000 /- into petty cash book for daily expenses.

Example: Petty cash a/c -1000

                        To cash a/c -1000 

g)      Commission received Rs. 10,000 in SBI bank.

Example: SBI bank a/c - 10,000 

                    To Rec. Commission a/c -10,000

h)     Owner paid the life insurance premium of Rs. 800

Example: Life insurance premium a/c -800

                                        To Cash a/c - 800

Q4- Practical Questions

1)     Bill of material (BOM)

a)      The following raw materials are required to manufacture one piece Hp laptop.

Raw material

Groups

Unit

Godown

Hard disk

Intex

1nos

Noida

Ram

Samsung

1nos

Khajuri khas

LCD screen

LG

1nos

Noida

Battery

LG

1nos

Sonia Vihar

 

2)     GOODS SERVICE TAX (GST)

a)      ON 1 APRIL 2022 sold the goods to Ramanuja traders Sonia Vihar.

(GSTN: 07xxxxxxxxxxxxZP)

Stock item name

Stock group

QTY

Rate per NOS

Himalaya Anti Dandruff

Anti-Dandruff shampoo

10

207

Himalaya Herbals Protein

Oily Hair Shampoo

11

150

Surf Excel Matic top load top

Top load detergents

8

110

 

3)     COST CENTRE

a)      The company wants to track the salary expenses based on the departments on 1 may the company paid a salary of Rs. 5,00,000 /- and would like to allocate it as given below.

·        Marketing department – Rs.1,50,000/-

·        Accounting department – Rs. 2,00,00/-

·        Sales department – Rs.1,50,000

4)     Interest

a)      As on 1 April 2022 sold the Hp desktop 1 NOS each of 23000/- goods to one of the customers Aman traders & set the interest as instructions then received the payment as in the below table.

Date

Amount

Due date

Amount Rec

No of days

1 April 2022

23,000

11 April 2022

1 May 2022

30 days