Tally Prime Case Study 2

October2020
1	1-10-2020	Lalit Kumar Gupta started a business with cash Rs.1600000.
2	5-10-2020	Mr. Gupta deposit cash of Rs.1300000 into HDFC Bank.
3	7-10-2020	Mr. Gupta issued a cheque for purchase following fixed assets.
			Assets	Value		Rate of Depreciation
			Furniture	25000		10%
			Electrical Fitting	12000		10%
			Computer	25000		20%
			Cell Phone	5000		20%
4	9-10-2020	Mr. Gupta issued a cheque of Rs.25000 to Mishra Properties towards security for rented office (Rent Rs.3000/month). Rent started from October 1.
5	10-10-2020	Mr. Gupta issued a cheque of Rs.30000 to Singh Properties towards security for rented Go down (Rent Rs.2000/month). Rent started from October 1.
6	15-10-2020	Mr. Gupta appointed following employees.
			Name		Designation		Monthly Salary
			Mamta Sharma		Sales Executive		Rs.5000
			Rajesh Sangwan		Salesman		Rs.3000
			Manoj Rathore		Accountant		Rs.3000
			Mahendra Singh		Clerk		Rs.2500
7	20-10-2020	Mr. Gupta purchased stationary in cash Rs.1500.
8	28-10-2020	Mr. Gupta transferred cash Rs.10000 into Petty Cash.
9	30-10-2020	Mr. Gupta with drew cash Rs.4000 for personal use.

November2020
10	1-11-2020	Petty cashier submitted the expenses statement for the month of October. Telephone Expenses of Rs.500, Electricity Expenses of Rs.1200 Conveyance Expenses of Rs.450, Office Expenses of Rs.850
11	5-11-2020	Mr. Gupta paid cash of Rs.6700 towards salary of October month (15 days). The details of salary is given below. Mamta Sharma Rs.2500, Rajesh Sangwan Rs.1500 Manoj Rathore Rs.1500,Mahendra Singh Rs.1200 Salary of employ will be maintain using cost center and cost category.
12	6-11-2020	Mr. Gupta issued a cheque of Rs.5000. This included Rs.3000 towards office rent and Rs.2000 towards godown rent of October month. Rent of office, go down will be maintain using cost center and cost category.
13	15-11-2020	Mr.Gupta purchased following items from Khalsh a trading Company Lucknow (09AAPCD5724T1ZU) on credit. All Stock items are placed in Nirmal Nagar Go down.

24-11-2020

Mr. Gupta purchased following items from Geeta Enterprises Lucknow (09AABCD8524T1ZU) on credit.

All Stock items are placed in Nirmal Nagar Go down.

29-11-2020

Mr.Gupta withdrew cash Rs.4500 for personal use.

December2020
16	1-12-2020	Petty cashier submitted the expenses statement for the month of November. Telephone Expenses of Rs.600, Electricity Expenses of Rs.1100 Conveyance Expenses of Rs.400,Office Expenses of Rs.700
17	5-12-2020	Mr.Gupta paid cash of Rs.13500 towards salary of November month. The details of salary is given below. Mamta Sharma Rs.5000, Rajesh Sangwan Rs.3000 Manoj Rathore Rs.3000, Mahendra Singh Rs.2500
18	6-12-2020	Mr.Gupta issued a cheque of Rs.5000. This included Rs.3000 towards office rent and Rs.2000 towards go down rent of November month.
19	8-12-2020	Mr.Gupta sold following items to Shyam Trading Company, Lakhimpur Kheri (09AVBCD8556T1ZU) on credit.
			Item	Qty	Rate	Amount	GST Rate	Total Value
			AC	2	32000	64000	28%	81920
			Ceiling Fan	5	1200	6000	28%	7680
			Table Fan	10	1500	15000	28%	19200
			Battery	2	10500	21000	28%	26880
			Total					135680
20	13-12-2020	Mr.Gupta transferred cash Rs.5000 into Petty Cash.
21	16-12-2020	Mr. Gupta sold following items to Arvind Traders, Lakhimpur Kheri (09AABCD8545T1ZU) on credit.
			Item	Qty	Rate	Amount	GST Rate	Total Value
			UPS	5	7000	35000	18%	41300
			Invertor	5	5500	27500	18%	32450
			CCTV	5	3200	16000	18%	18880
			LPG Stoves	5	1800	9000	18%	10620
			Total					103250
22	18-12-2020	Mr.Gupta received a cheque of Rs.135600 from Shyam Trading Company,in full settlement of bill dated December 8,2020.
23	19-12-2020	Mr.Gupta received a cheque of Rs.103000 from Arvind Traders,in full settlement of bill dated December 16,2020.
24	20-12-2020	Mr.Gupta issued a cheque of Rs.302000 to Geeta Enterprises ,in full settlement of account.
25	21-12-2020	Mr.Gupta with drew cash Rs.3500 for personal use.
26	21-12-2020	Mr.Gupta issued a cheque of Rs.478720 to Khalsha Trading Company.

27	22-12-2020	Mr. Gupta purchased following items from ABC Electronics Lucknow (09AHHCD6524T1ZU) on credit. All Stock items are placed in Nirmal Nagar Godown.
28	23-12-2020	Mr. Gupta purchased following items from Shivam Electronics New Delhi (07DAXPS0125H1ZL) on credit. All Stock items are placed in Nirmal Nagar Godown.
29	24-12-2020	Mr. Gupta sold following items to Satish Electronics, Haryana (Consumer)on credit.
			Item	Qty	Rate	Amount	GST Rate	Total Value
			Solar Water heater	5	17500	87500	5%	91875
			Washing Machine	10	8800	88000	28%	112640
			Electricions	10	800	8000	28%	10240
			Refrigerators	5	15000	75000	28%	96000
			Total					310755
30	26-12-2020	Mr. Gupta received a cheque of Rs.310700 from Satish Electronics, in full settlement of bill dated December24,2020.
31	28-12-2020	Mr. Gupta issued a cheque of Rs.319800 to ABC Electronics, in full settlement of account.
32	30-12-2020	Mr.Gupta purchased stationary items in cash Rs.2500.

January2021
33	1-1-2021	Petty cashier submitted the expenses statement for the month of December. Telephone Expenses of Rs.700, Electricity Expenses of Rs.1300 Conveyance Expenses of Rs.550,Office Expenses of Rs.900
34	5-1-2021	Mr.Gupta paid cash of Rs.13500 towards salary of December month.
35	6-1-2021	Mr.Gupta issued a cheque of Rs.5000. This included Rs.3000 towards office rent and Rs.2000 towards godown rent of December month.
36	7-1-2021	Mr.Gupta sold following items to Shyam Trading Company on credit.
			Item	Qty	Rate	Amount	GST Rate	Total Value
			Atta Chakki	5	6800	34000	5%	35700
			LED Lights	10	225	2250	12%	2520
			LED Lumps	10	850	8500	12%	9520
			LED TV	5	16000	80000	18%	94400
			Microwave	5	9500	47500	28%	60800
			Electric Kettle	10	1700	17000	28%	21760
			Total					224700

37	8-1-2021	Mr.Gupta sold following items to Digi World, Gola (Unregistered Dealer)on credit.
			Item	Qty			Rate		Disc.			Amount				GST Rate			Total Value
			CCTV	15			3500		10%			47250				18%			55755
			Invertor	15			6000		10%			81000				18%			95580
			UPS	15			7500		10%			101250				18%			119475
			AC	5			33000		10%			148500				28%			190080
			Battery	8			11000		10%			79200				28%			101376
			Ceiling Fan	20			1300		10%			23400				28%			29952
			Total																592218
38	10-1-2021	Mr.Gupta sold following items to Satish Electronics, Haryana (Consumer) on credit.
			Item					Qty	Rate				Amount				GST Rate			Total Value
			Solar Water heater					15	17500				262500				5%			275625
			Washing Machine					10	8800				88000				28%			112640
			Electricions					15	800				12000				28%			15360
			Refrigerators					10	15000				150000				28%			192000
			Printers					5	9000				45000				18%			53100
			Total																	648725
39	10-1-2021	Mr.Gupta sold following items to Parkar Power, Lakhimpur Kheri(09AABCD6585T1ZU)on credit.
			Item		Qty			Rate			Amount				GST Rate				Total Value
			LPG Stoves		15			1800			27000				18%				31860
			Invertor		5			5500			27500				18%				32450
			AC		3			32000			96000				28%				122880
			Microwave		5			9500			47500				28%				60800
			Total																247990
40	18-1-2021	Parkar Power returns(Sales return)following goods.
			Item		Qty			Rate		Amount					GST Rate				Total Value
			LPG Stoves		2			1800		3600					18%				4248
			Invertor		1			5500		5500					18%				6490
			Total																10738
41	20-1-2021	Mr.Gupta sold goods to Pooja Electronics,New Delhi (07ASDPL7485D1ZU) on credit.(Packing Charges Rs.2000).
			Item			Qty		Rate		Amount				GST Rate				Total Value
			Atta Chakki			5		6800		34000				5%				35700
			LED Lights			10		250		2500				12%				2800
			LED Lumps			5		850		4250				12%				4760
			LED TV			5		16000		80000				18%				94400
			LPG Stove			2		1800		3600				18%				4248
			Table Fan			10		1500		15000				28%				19200
			Electric Kettle			5		1700		8500				28%				10880
			Total															171988

February2021
53	1-2-2021	Petty cashier submitted the expenses statement for the month of January. Telephone Expenses of Rs.800, Electricity Expenses of Rs.1400 Conveyance Expenses of Rs.550,Office Expenses of Rs.1100
54	5-2-2021	Mr.Gupta paid cash of Rs.13500 towards salary of January month.
55	6-2-2021	Mr.Gupta issued a cheque of Rs.5000. This included Rs.3000 towards office rent and Rs.2000 towards godownrent of January month.

56	7-2-2021	Mr. Gupta paid Tax (CGST, SGST) of Rs.31000 by cheque,including interest ofRs.890,penalty,ofRs.4500 and late fee of Rs.1500.
57	7-2-2021	Mr.Gupta paid Tax(IGST) of Rs.42500 by cheque,including interest of Rs.1145,penalty,of Rs.4500 and late fee of Rs.1500.
58	8-2-2021	Mr. Gupta sold following items to Shyam Trading Company at 5% discount of bill amount on credit.
			Item	Qty		Rate			Amount			GST Rate			Total Value
			Atta Chakki	10		7000			70000			5%			69825
			LED Lights	10		300			3000			12%			3192
			LED Lumps	10		900			9000			12%			9576
			LED TV	10		17000			170000			18%			190570
			LPG Stove	5		1900			9500			18%			10650
			Table Fan	5		1600			8000			28%			9728
			Total												293541
59	9-2-2021	Mr.Gupta sold following items to Sai Digital World, Gola (consumer)on cash.
			Item		Qty		Rate			Amount			GST Rate			Total Value
			Electrical Irons		5		800			4000			28%			5120
			Refrigerator		5		16000			80000			28%			102400
			Total													107520
60	12-2-2021	Mr. Gupta purchase following goods from Pink city Electronics Lakhimpur Kheri (Unregistered)on credit.
			Item	Qty		Rate			Amount
			AC	10		24000			240000
			Ceiling Fan	25		800			20000
			Table Fan	20		1200			24000
			Battery	10		9000			90000
			Total						374000
61	13-2-2021	Mr. Gupta adjust the tax liabilities against purchase from unregistered dealer,bill amount of Rs.374000 from Pink city Electronics.
62	14-2-2021	Mr. Gupta sold following items to Casco Electronics,LakhimpurKheri on credit.
			Item		Qty			Rate			Amount			GST Rate			Total Value
			Battery		4			10500			42000			28%			53760
			Electric Kettle		4			1700			6800			28%			8704
			Invertor		1			5500			5500			18%			6490
			LPG Stoves		3			1800			5400			18%			6372
			Total														75326

63	15-2-2021	Mr.Gupta claim for Input Tax Credit against purchase goods from unregistered dealer from Pink city Electronics.
64	16-2-2021	Mr.Gupta paid Tax(CGST,SGST)of Rs.61036 by cheque.
65	18-2-2021	Mr.Gupta sold following items to Shyam Trading Company on credit.
			Item	Qty	Rate		Disc.	Amount		GST Rate		Total Value
			AC	10	33000		10%	297000		28%		380160
			Battery	10	11000		10%	99000		28%		126720
			Ceiling Fan	15	1300		10%	17550		28%		22464
			Table Fan	10	1600		10%	14400		28%		18432
			Total									547776
66	21-2-2021	Mr.Gupta received a cheque Rs.48640 in advance from Star Home Appliance Lakhimpur Kheri (Composition Dealer) towards Purchase goods (Microwave) from next month (March 2021), (09AABCD5486T1ZU).
67	25-2-2021	Mr.Gupta purchased following items from Geeta Enterprises Lucknow on credit.
			Item			Qty	Rate		Amount		GST Rate		Total Value
			Atta Chakki			20	5500		110000		5%		115500
			Solar Water heater			20	12500		250000		5%		262500
			LED Lights			25	150		3750		12%		4200
			LED Lumps			25	650		16250		12%		18200
			UPS			15	4000		60000		18%		70800
			Invertor			15	4000		60000		18%		70800
			CCTV			20	2400		4800		18%		56640
			LPG Stoves			20	1400		28000		18%		33040
			Cooler			15	1200		18000		18%		21240
			Total										652920
68	27-2-2021	Mr.Gupta with drew cash Rs.5000 for personal use.
69	28-2-2021	Mr.Gupta transferred cash Rs.4000 into Petty Cash.

March2021
70	1-3-2021	Petty cashier submitted the expenses statement for the month of February. Telephone Expenses of Rs.700, Electricity Expenses of Rs.1200 Conveyance Expenses of Rs.600,Office Expenses of Rs.850
71	5-3-2021	Mr.Gupta paid cash of Rs.13500 towards salary of February month.
72	6-3-2021	Mr.Gupta issued a cheque of Rs.5000. This included Rs.3000 towards office rent and Rs.2000 towards godown rent of February month.
73	7-3-2021	Mr.Gupta received a cheque of Rs.75326 from Casco Electronics.
74	8-3-2021	Mr.Gupta issued a cheque of Rs.374000 to Pink city Electronics.
75	9-3-2021	Shyam Trading Company return(Sales Return)following goods.
			Item	Qty	Rate	Disc.	Amount		GST Rate		Total Value
			AC	1	33000	10%	29700		28%		38016
			Battery	2	11000	10%	19800		28%		25344
			Ceiling Fan	2	1300	10%	2340		28%		2996
			Total								66356
76	10-3-2021	Mr.Gupta returns some goods to Geeta Enterprises.
			Item	Qty	Rate	Amount		GST Rate		Total Value
			Atta Chakki	2	5500	11000		5%		11550
			LEDL ights	5	150	750		12%		840
			LED Lumps	5	650	3250		12%		3640
			LPG Stoves	2	1400	2800		18%		3304
			Total							19334
77	10-3-2021	Mr. Gupta issued a cheque Rs.65000 in advance to Mannu electronics(Composition Dealer)for purchase 10 printers @6500/Nos.(09AXDPV7488L1ZU)
78	12-3-2021	Mr.Gupta received a cheque of Rs.774961 from Shyam Trading Company.
79	16-3-2021	Mr.Gupta issued a cheque of Rs.633586 to Geeta Enterprises.

80	23-3-2021	Mr.Gupta purchase following items to Lmp Electronics, LakhimpurKheri (Composition Dealer)on credit.
			Item				Qty		Rate			Amount
			AC				10		23000			230000
			Washing Machine				10		7000			70000
			Refrigerators				10		11000			110000
			ElectricIons				20		500			10000
			Microwave				20		6000			120000
			Electric kettle				20		1100			22000
			Total									562000
81	25-3-2021	Mr.Gupta sold following items to Star Home Appliance LakhimpurKheri against advance receipton 21-2-2021.
			Item	Qty		Rate	Amount			GST Rate			Total Value
			Microwave	4		9500	38000			28%			48640
82	26-3-2021	Mr.Gupta claim for input Tax Credit against Advance receipton dated 21-2-2021 from Star Home Appliance.
83	30-3-2021	Mr.Gupta purchased following items from Mannu electronics(Composition Dealer)against advance Payment on dated 10-3-2021.
			Item		Qty			Rate			Amount
			Printers		10			6500			65000
84	30-3-2021	Mr.Gupta Paid Tax(GST) of Rs.79655 including interest of Rs.965,penalty of Rs.3000 and late fee Rs.1500.
85	30-3-2021	Mr.Gupta with drew cash Rs.4500 for personal use.