BBA/B.Com employability skill II tally Dec 2024

Description

Employability Skills – II Tally

December 2024 Examination

 

 

 

Q.1 Please Create a Company in Tally Using Following Mentioned Details:- (10 Marks)

 

Company Name: – Regent Traders.

 

Primary Mailing Details.

 

Mailing Name: – Regent Traders. Address: – Sector 9, Gurugram. Country: – India

State: – Haryana.

Pin Code: – 122 001.

 

Contact Details.

Phone No.: – 011-324589

Mobile No.: – 99000 22999

Fax No.: –

E-mail: – [email protected]

 

Website:-

 

Books & Financial Year Details.

Financial Year Begins from: – 1-4-2024

Books Beginning from: – 1-4-2024

 

Security Control.

 

 

Use Security Control: – No

 

Base Currency Information.

Base Currency symbol: – Rs. Formal Name: – INR

Suffix Symbol to Amount: – No

Add Space between Amt & Symbol: – Yes

Show Amount in Millions: – No. Number of Decimal Places: – 2

Word Representing amount after Decimal: – Paise

Number of Decimal Places for Amt in Words: – 2

 

Ans 1.

Introduction

The use of Tally software has revolutionized the way businesses handle their accounting and financial management. Tally simplifies record-keeping, enables seamless financial analysis, and improves the accuracy of financial reporting. For businesses, especially small and medium-sized enterprises (SMEs), Tally is a vital tool that manages everything from basic accounting to inventory management and payroll functions. In this exercise, we delve into the process of creating a company profile in Tally, which is essential for businesses to initiate and track their financial transactions accurately. We’ll create a hypothetical company profile, “Regent Traders,” with specific details on primary mailing information, contact details, financial year settings, security controls, and base currency information. This step-by-step approach highlights the foundational skills required in Tally, ensuring accurate data setup, which is critical for real-time and effective

 

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Q2. Please find out following Numbers/Ratios from provided tally backup for the

Financial Year 2020-21 & 2021-22.   (10 Marks)

Particulars	FY 2020-21	FY 2021-22
Working Capital	2,04,632.88	13,018.15
Cash-in-Hand	7,500.00	?
Bank Accounts	1,67,440.00	94,800.00
Sundry Debtors	?	9,01,750.00
Sundry Creditors	2,16,880.00	280.00
Sales Accounts	18,54,000.00	20,26,000.00
Purchase Accounts	15,79,540.00	?
Stock-in-Hand	5,28,282.88	8,07,738.15
Net Profit	?	-1,96,614.73
Working Capital Turnover	9.06	?
Inventory Turnover	3.51	2.51
Current Ratio	2.03 : 1	1.52 : 1
Quick Ratio	0.63 : 1	30.45 : 1
Debt/Equity Ratio	0.00 : 1	0.00 : 1
Gross Profit %	43.30 %	40.90 %
Net Profit %	0.52 %	?
Operating Cost %	?	109.70 %
Comparison with Previous Year		%
Sales	Increase	?
Purchase	Increase	?
Net Profit	Decrease	?

 

(Tally backup has been provided as a part of assignment to solve this problem)

https://digr70srsogza.cloudfront.net/academics/1726207377xTUiV.rar

How to run tally backup: Copy the Path of folder where the folder ‘10002’ is placed. Paste (alt+ctrl+v) that path in Company Info.>> Select Company>> Path

Ans 2.

Introduction

A comprehensive financial analysis allows businesses to understand their financial position and performance across fiscal periods. For Prakash & Co. LTD, examining key metrics such as working capital, cash-in-hand, bank balances, sundry debtors, creditors, sales, purchases, stock-in-hand, and net profit for FY 2020-21 and FY 2021-22 provides insights into the company’s liquidity, efficiency, and profitability. Additionally, financial ratios like the current ratio, quick ratio, debt/equity ratio, and profitability ratios offer further insights into the company’s operational performance and

 

 

 

Q3A.  Please find out following Numbers/Ratios from provided tally backup for the

Financial Year 2020-21 & 2021-22.   (5 Marks)

(Tally backup has been provided as a part of assignment to solve this problem)

 

Particulars	FY 2020-21     Amt (Rs.)	(%)	FY 2021-22     Amt (Rs.)	(%)
Capital Account	2,50,000.00	54.53	2,50,000.00	?
Current Liabilities	1,98,840.00	57.40	?	28.62
Profit & Loss A/c	9,632.88	2.10	-1,86,981.85	211.79
Total	4,58,472.88		88,288.15
Fixed Assets	55,000.00	12.00	50,000.00	?
Current Assets	?	88.00	?	43.37
Total	4,58,472.88		88,288.15

 

https://digr70srsogza.cloudfront.net/academics/1726207377xTUiV.rar

 

How to run tally backup: Copy the Path of folder where the folder ‘10002’ is placed. Paste

(alt+ctrl+v) that path in Company Info.>> Select Company>> Path

 

Ans 3a.

Introduction

A detailed financial analysis provides insight into a company’s fiscal health by examining essential accounts and ratios. For Prakash & Co. LTD, analyzing the balance of capital accounts, current liabilities, profit and loss, fixed assets, and current assets for the fiscal years 2020-21 and 2021-22 is essential for assessing stability and growth potential. Calculating the percentage contribution of each component reveals how well the company maintains equity and manages assets and liabilities. Through this analysis, we aim to clarify the financial structure and highlight any

 

 

1. B. Please Explain the use of below mentioned accounting vouchers. (5 Marks)

 

1. Contra.
2. Payment
3. Sales

 

Ans 3b.

Introduction

Accounting vouchers are essential tools in financial management and bookkeeping, allowing businesses to record and track various financial transactions systematically. Each type of voucher serves a unique purpose, enabling efficient tracking of cash flows, income, and expenses. Understanding the function and use of specific vouchers—such as contra, payment, and sales vouchers—helps ensure accuracy and transparency in a company’s accounting records. Contra vouchers are typically used for internal transfers, payment vouchers record expenses and liabilities, and sales