Assignment 15

 

1.       Create the company with your name followed by your student code and Chapter name for the financial year 2016-17 and create the following Ledgers with opening balances:

 

Liabilities	Amount	Assets	Amount
Capital	2,75,000	Furniture	3,26,000
Loan from Indian Bank	1,22,000	HDFC Bank	91,000
Profit & Loss	32,000	Cash	12,000
	4,29,000		4,29,000

2.       On 01.04.2016 Company purchased 25 Pcs HCL Tablet @ 11200.00 and 20 Pcs Blue Tooth H850 @ 1200.00 from Deepak E. World (Bill No: Inv/P-012/2016-17).

3.       On 01.05.2016 Company received a Cheque of ICICI Bank (Ch. No: 250124) as loan of 225000.00 from Sriram Finance at an interest rate of 13% Per Annum. Company agreed to pay interest on quarterly basis.

 

4.       Create a voucher class under Sales voucher type with the following specifications.

i.            Class Name: Credit Sales

ii.            Group: Include only Sundry Debtor

iii.            1% of sales amount should be transferred to Children Welfare Fund, but shouldn’t be shown in

invoice.

iv.             Total bill will be rounded off rounding, limit 1.

 

        5.       On 02.05.2016 Company sold 12 Pcs HCL Tablet @ 14,500.00 and 12 Pcs Blue Tooth                 H850 @ 1,650.00 to Das Brothers [Bill No: RE/S-0025/2016-17, 15 days’ Credit                       Period, 2% monthly compound interest after credit period]. Pass the entry the Credit                   Sales voucher class.

6.       On 31.5.2016, Company charge interest on outstanding bill amount to Das Brother as           per contract for delay in payment. Pass the required entry so that required interest               amount will update automatically.

7.       On 31.7.2016, company issues a Cheque of HDFC Bank (Ch. No: 250125) to clear the                interest on loan from Sriram Finance.

8.       On 31.7.2016 Das Brother clear the entire due amount with interest by Cheque of Axis                Bank (Ch. No: 652321). Pass the necessary entries.