Question

EXERCISE 5

Create a new business account in an accounting package named Diamond Enterprises. Enter the following transactions and show the following reports:

(1) Debtors Report

(ii) Cash Book / Account

(u) Trial Balance

(vii) Balance Sheet

Transactions

1. 1.5.2018

2. 2.5.2018

: Nandan Kapur started business with cash 3,00,000.

: Mr. Kapur paid 22,500 in cash to purchase a computer with pre-loaded Tally.ERP 9. The Computer does not have any disposal value at the end of the estimated useful life of 4 years. All assets are to be depreciated using the Straight Line Method.

Mr. Kapur paid rent for an office space for 5,000 quarterly. He paid the security deposit of 20,000 by Cheque. : Mr. Kapur opened an account with Axis Bank, Delhi for the firm by depositing

cash of 2,00,000.

: Mr. Kapur hired Mayank as Manager (Operations) on a monthly salary of 7,500. He also hired Vijay Narayan as Assistant Manager (Marketing) on a monthly salary of 4,5006

(ii) Creditors Report

(iv) Bank Book / Account

(vi) Profit and Loss Account​

Answer 1

Answer:

iv is correct answer is correct thanks for the use of the use