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Exercise TALLY

The document outlines the creation of a new company, National Traders PLC, including its address and trial balance as of December 31, 2020. It details various financial entries, including assets, liabilities, and equity, as well as payroll information for employees in different departments. Additionally, it mentions the need for inventory transactions and financial statement assessments.

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12 views6 pages

Exercise TALLY

The document outlines the creation of a new company, National Traders PLC, including its address and trial balance as of December 31, 2020. It details various financial entries, including assets, liabilities, and equity, as well as payroll information for employees in different departments. Additionally, it mentions the need for inventory transactions and financial statement assessments.

Uploaded by

eritreaproud85
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

11-01-2022

Exercise
CREATE A NEW COMPANY NATIONAL TRADERS PLC

TEL; 11 12 13 14 15 STREET; 713-24 ZIP; 732 HARENET AVENUE

ASMARA- ERITREA

Make sure to adjust F11 and F12 when ever required!


Given below is the Trial Balance of NATIONAL TRADERS PLC at the close
of business of December 31, 2020.
Particulars Under(type) debit credit
Bank account Current Asset 35,000
Deposit account Current Asset 40,000
Petty Cash Current Asset 500
Opening Stock Current Asset 286,150
Sundry Debtors Current Asset
Compu Care System 5,400
Data Link Tec 26,00
0
Spectrum Computer 12,40
0
Supreme Computer 13,50
0
Building Fixed Asset 75,000
Building Accum- Deprec 8,000
Office Equipment Fixed Asset 25,000
Office EquAcc-Depreciation 4,500
Tax deducted at source Current Liabilities 4,780
Sales tax Current Liabilities 13,600
Sundry Creditors Current Liabilities
Challenger System 65,65
0
Horizontal Enterprise 44,75
0
Silver Plus Computers 45,60
0
Mutual Trust Loan Secured loans 50,000
Equity Capital Capital Account 250,000
sales Direct Income 32,070
TOTAL 518,950 518,950

1 Compiled by ISAYAS KIFLE (MOF) @ MEDREK VOCATIONAL


INSTITUTE ASMARA ERITREA
CREATING INVENTORY MASTERS

VOUCHER ENTRY

2 Compiled by ISAYAS KIFLE (MOF) @ MEDREK VOCATIONAL


INSTITUTE ASMARA ERITREA
3 Compiled by ISAYAS KIFLE (MOF) @ MEDREK VOCATIONAL
INSTITUTE ASMARA ERITREA
4 Compiled by ISAYAS KIFLE (MOF) @ MEDREK VOCATIONAL
INSTITUTE ASMARA ERITREA
Enter further inventory transactions for National Traders.

5 Compiled by ISAYAS KIFLE (MOF) @ MEDREK VOCATIONAL


INSTITUTE ASMARA ERITREA
MAINTAIN PAYROLL MASTER

Departments under Employee Date of Basic


name recruitme salary
nt
IT Department Primary Mr YEMANE 01-01-20 4,000.00
Finance & Admin primary Mrs SHARA 05-01-20 3,500.00
Personnel office De. primary Mr Brhane 07-01-20 2,500.00
Inland Revenue primary Mrs Stella 08-02-20 1,800

Pay head : Basic salary accourding to Attendance


Constant deductions

From amount Amount up to Slab type Value basis


200 value -16
200 1000 value -136
1000 1300 value -261
1300 value -436
income tax payables (deductions)
pension deductions
Display your financial statements print them out
Assess the Ratio analysis as much as possible

THANK YOU SO MUCH !

6 Compiled by ISAYAS KIFLE (MOF) @ MEDREK VOCATIONAL


INSTITUTE ASMARA ERITREA

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