12th Accountancy - Book Back Answers - Unit 10 - English Medium Guides

  

 

12th - Accountancy - Book Back Answers -  Unit 10 - English Medium

Tamil Nadu Board 12th Standard Accountancy - Unit 10: Book Back Answers and Solutions

    This post covers the book back answers and solutions for Unit 10 –  from the Tamil Nadu State Board 12th Standard Accountancy textbook. These detailed answers have been carefully prepared by our expert teachers at KalviTips.com.

    We have explained each answer in a simple, easy-to-understand format, highlighting important points step by step under the relevant subtopics. Students are advised to read and memorize these subtopics thoroughly. Once you understand the main concepts, you’ll be able to connect other related points with real-life examples and confidently present them in your tests and exams.

    By going through this material, you’ll gain a strong understanding of Unit 10 along with the corresponding book back questions and answers (PDF format).

Question Types Covered:

• 1 Mark Questions: Choose the correct answer, 
• 2 Mark Questions: Very Short Answer Questions
• 3, 4, and 5 Mark Questions: Short Answer Questions, Excercises
  

All answers are presented in a clear and student-friendly manner, focusing on key points to help you score full marks.

All the best, Class 12th students! Prepare well and aim for top scores. Thank you!

Topic: Unit 10 : Computerised Accounting System Tally

I. 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
Answer Key:
(b) Special purpose report

2. Function key F11 is used for ……………..
(a) Company Features
(b) Accounting vouchers
(c) Company Configuration
(d) None of these
Answer Key:
(a) Company Features

 

3. Which submenu displays groups, ledgers and voucher types in Tally?

(a) Inventory vouchers
(b) Accounting vouchers
(c) Company Info
(d) Account Info
Answer Key:
(d) Account Info

4. What are the predefined Ledger(s) in Tally?
(i) Cash
(ii) Profit and Loss A/c
(iii) Capital A/c
(a) Only (i)
(b) Only (ii)
(c) Both (i) and (ii)
(d) Both (ii) and (iii)
Answer Key:
(c) Both (i) and (ii)

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
Answer Key:
(b) Withdrawal of cash from bank for office use

6. Which is not the default group in Tally?
(a) Suspense account
(b) Outstanding expense
(c) Sales account
(d) Investments
Answer Key:
(b) Outstanding expense

7. Salary account comes under which of the following head?
(a) Direct Incomes
(b) Direct Expenses
(c) Indirect Incomes
(d) Indirect Expenses
Answer Key:
(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
Answer Key:
(a) Contra 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
Answer Key:
(b) Journal 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
Answer Key:
(c) Gateway of Tally -> Reports -> Display -> Trial Balance

II.Very short answer questions

1.  What is automated accounting system?

•  Automated accounting 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. Ex- Day books / Journal, Ledger, Trial balance

 

3.  State any five accounting reports.

• Day books / Journal
• Ledger 
• Trial balance
• Income statement
• Balance sheet
• Cash flow statement

 

4.  What is Accounting Information System (AIS)?

•  Accounting Information System (AIS) collects financial data, processes them and provides information to the various users. To provide information AIS requires data from other information system that is manufacturing, marketing and human resources.

 

 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. Groups are categorised as Primary Groups and Sub-Groups.

 

III.Short 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. Ex - Receipt Voucher, Payment Voucher.
• Gateway of Tally > Masters > Accounts Info > Voucher Types > Display

 

2.  What are the pre-defined ledgers available in Tally. ERP 9?

•  In Tally, to record transactions, the transactions are to be identified with the related ledger accounts. These are - i) Cash and Profit & Loss A/c
• Gateway of Tally > Masters > Accounts Info > Ledgers > Single Ledger > Create

 

3.  Mention the commonly used voucher types in Tally. ERP 9.

 i)   Receipt Voucher

•  All transactions related to receipt either in cash or through bank are recorded using receipt voucher.
•  Gateway of Tally > Transactions > Accounting Vouchers > F6:Receipt

ii)   Payment Voucher

•  All transactions related to payments either in cash or through bank are recorded using payment voucher.
• Gateway of Tally > Transactions > Accounting Vouchers > F5:Payment

 iii)   Contra Voucher

• A transaction involving both cash account and bank account is recorded using contra voucher. Gateway of Tally > Transactions > Accounting Vouchers > F4:Contra

 iv)   Purchase Voucher

•  Purchase vouchers are used for recording both cash and credit purchases of goods.
• Gateway of Tally > Transactions > Accounting Vouchers > F9:Purchase

 v)  Sales Voucher

•  Sales vouchers are used for recording both cash and credit sales of goods.
• Gateway of Tally > Transactions > Accounting Vouchers > F8:Sales

 vi)   Journal Voucher

• Journal vouchers are used for recording transactions involving other than cash, bank, purchases and sales such as depreciation, provision for bad debts.
• Gateway of Tally > Transactions > Accounting Vouchers > F7:Journal

 

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.

 

 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.

2.  Inventory management:

•  CAS facilitates efficient management of inventory. Fast moving, slow moving and availability of inventory, level of inventory, etc., can be obtained instantly.

3.  Pay roll preparation:

•  Pay roll involves the calculation of amount due to an employee. Salary Pay of an employee may be calculated based on hours/days worked or units produced. Also recorded attendance of an employees.

4.  Report generation:

•  CAS helps to generate various routine and special purpose reports.

5.  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.

6.  Taxation:

•  CAS helps to compute various taxes and to deduct these and deposit the same to the Government account.

 

IV. Excercises

Question 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 Aran on credit for Rs. 70,000
(h) Money is withdrawn from bank for office use Rs. 25,000
(i) Part payment of Rs. 30,000 made to Sumathy by cheque
(j) Aran 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
Analysis of Transactions, Passing Journal entries. Identification of Voucher type and group.

Answer Key:
1. Following Steps are to be followed to enter the transactions in Tally ERP9,
 

1. 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
 

2. To maintain accounts only:
Gateway of Tally > Fll Accounting Features > General > Maintain Accounts only: Yes > Accept Yes

3. To Create Ledger Accounts:
Gateway of Tally > Masters > Accounts Info > Ledgers > Single Ledger > Create
(i) To Create Devi’s Capital A/c
Name: Devi’s Capital A/c
Under: Capital Account Accept: Yes
(ii) To Create Indian Bank A/c
Name: Indian Bank A/c Under: Bank Accounts Accept: Yes
(iii) To Create Furniture A/c
Name: Furniture A/c Under Fixed Assets Accept: Yes
(iv) To Create Purchases A/c
Name: Purchases A/c Under Purchase Accept: Yes
(v) To Create Sumathy A/c Name: Sumathy A/c Under: Sundry Creditors Accept: Yes
(vi) To Create Sales A/c Name: Sales A/c Under: Sales Account Accept: Yes
(vii) To Create Aran A/c Name: Aran A/c Under: Debtors A/c Accept: Yes
(viii) To Create Salaries A/c Name: Salaries A/c Under: Indirect Expenses Accept: Yes
(ix) To Create Carriage A/c Name: Carriage A/c Under: Direct Expenses Accept: Yes
(x) To Create Computer A/c Name: Computer A/c Under: Assets A/c Accept: Yes
(xi) To Create Muthu Ltd A/c Name: Muthu Ltd A/c Under: Sundry Creditors Accept: Yes

4. To enter transactions through vouchers
Gateway of Tally > Transaction > Accounting vouchers
 

(i) Devi commenced a business with a capital of Rs.4,00,000
F6: Receipt Voucher Accounts: Cash
Particulars: Devi’s Capital A/c (Choose from List of Ledger Accounts)
Enter the Amount of Capital of Rs. 4,00,000
Narration: Capital introduced. Accept: Yes
 

(ii) An Account was opened with Indian Bank and deposited Rs. 60,000
F4: Contra Voucher Accounts: Indian Bank
Particulars: Cash Amount: Rs. 30,000
Narration: Opened Bank Account in Indian Bank Accept: Yes
 

(iii) Purchased furniture by paying cash Rs. 15,000
F5: Payment Voucher Account: Cash
Particulars: Furniture A/c Amount: Rs. 15,000 Narration: Furniture bought by cash Accept: Yes
 

(iv) Goods purchased on credit from Sumathy for Rs. 50,000
F9: Purchase Voucher Party’ A/c, Name: Sumathy A/c
Particulars: Purchase A/c Amount: Rs. 50,000
Narration: Goods purchased on credit from Sumathy Accept: Yes
 

(v) Cash Sales made forRs. 10,000
F8: Sales Voucher Account: Cash
Particulars: Sales A/c Amount: Rs. 10,000
Narration: Cash Sales made Accept: Yes
 

(vi) Goods purchased from Raja Rs. 5,000 and paid by Cheque
F9: Purchase Voucher Account: Bank
Particulars: Purchase A/c Amount: Rs. 5,000
Narration: (Bank) Purchase by cheque
 

(vii) Goods sold to Arun on credit for Rs. 70,000
F8: Sales Voucher Party A/c Name: Arun A/c Amount: Rs. 70,000
Narration: Goods sold on credit to Arun Accept: Yes (viii) Money withdrawn from bank for office use Rs. 25,000 F4: Contra Voucher Account: Cash Particulars: Indian Bank Amount: Rs. 25,000 Narration: Cash withdrawn from bank Accept: Yes
 

(ix) Part Payment of Rs. 30,000 to Sumathy by Cheque
F5: Payment Voucher Account: Indian Bank
Particulars: Sumathy A/c Amount: Rs. 30,000
Narration: Payment made to Sumathy by Cheque Accept: Yes
 

(x) Salaries paid to staff through ECS Rs. 36,000
F5: Payment Voucher Account: Indian Bank
Particulars: Salaries A/c Amount: Rs. 36,000
Narration: Salaries paid through ECS Accept: Yes
 

(xi) Carriage of Rs. 6,000 paid by cash
F5: Payment Voucher Account: Cash
Particulars: Carriage A/c Amount: Rs. 6,000
Narration: Carriage paid by Cash Accept: Yes
 

(xii) Purchase computer from Muthu Ltd. on credit Rs. 44,000
F7: Journal Voucher Particulars: Computer
Amount Rs. 44,000 To Muthu Ltd Amount: Rs. 44,000
Narration: Computer bought on credit from Muthu Ltd. Accept: Yes
 

5. To view reports:
(i) To view Trial Balance
Gateway of Tally > Reports > Display > Trial Balance > Alt FI (detailed)
 

(ii) To view Profit and Loss Account
F10: A/c Reports > Profit and Loss A/c > Alt FI (detailed) (or)
Gateway of Tally > Reports > Profit and Loss A/c Alt FI (detailed)
 

(iii) To view Balance Sheet
F10: A/c Reports > Balance Sheet > Alt FI (detailed) (or)
Gateway of Tally > Reports > Balance Sheet > Alt FI (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> Alt FI (detailed) (or)
Gateway of Tally > Reports > Display > Day Book > Alt FI (detailed)
 

Question 2.
The following balance sheet has been prepared from the books of Pearl on 1 – 4 – 2018.

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 a trading and profit and loss account for the year ended 31-03-2019 and a balance sheet as of that date using Tally.
Answer Key:

 

1. To Create Company Company Info > Create Company
Type the Name as Pearl and keep all other fields as they are and choose. “Yes” to accept
 

2. To maintain accounts only
Gateway of Tally F11 Accounting Features > General > Maintain Accounts only: Yes > Accept: Yes
 

3. To Create Ledger Accounts with Opening Balances
Gateway of Tally > Masters > Accounts Info > Ledgers > Single Ledger > Create

Note: A 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 balances of cash
Gateway of Tally > Masters > Accounts Info > Ledger > Single Ledger > Alter
After creating the Ledgers and recording the opening balances of ledger accounts the balance sheet of Pearl is shown as in the following figure.

3. To Create Ledger Accounts for Transactions

 

4. To enter transaction through vouchers
Gateway of Tally > Transactions > Accounting Vouchers
Example: 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
In a similar way, recorded the other transactions. Use payment voucher for salaries paid
and payments to yazhini.
Use purchase voucher for credit sales to Jothi and Cash sales. Use Receipt voucher for cash received from Peter.
Use Journal voucher for depreciation.
 

5. To record closing stock:
Since maintaining accounts only is set to ‘Yes’ and integrate accounts and inventory is set to ‘No’ under accounting features. The stock has to be recorded manually. Hence the closing stock has to be recorded by altering the stock account and while entering the date of closing stock, the date of opening stock has to be entered. The following procedure is to be followed: Gateway of Tally > Masters > Accounts Info > Ledger > Single Ledger > Alter > Stock > Closing Balance > Date (Opening date) > Amount > Accept: Yes
 

6. To view reports
(i) To view Profit and Loss Account
F10 A/c Reports > Profit and Loss A/c > Alt F1 (detailed)
(or) Gateway of Tally > Reports > Profit and Loss A/c > Alt FI (detailed)
(ii) To view Balance Sheet
F10 A/c Reports > Balance Sheet > Alt FI (detailed) (or)
Gateway of Tally > Reports > Balance Sheet > Alt FI (detailed).