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accounting in tally

rajesh HT B.Com.,PGDFM.,CA(F) (Article Assistant) (214 Points)

26 February 2008

dear friends answer the following

once i went to interview. they asked the following question.

A co. purchased the 20 chairs. they put to use in office 10 chairs and remaining is kept in the Godown. what are the entry required to post in Tally. at the ned of the year what is the consequences.

wha is yours suggesion.

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3 Replies

(Guest)

I feel that accounting entry would be quite clear with you i.e Fixed Assets / Revelant exps a/c Dr and Party / Bank / Cash a/c credit. Here the concern was how would u show how many chairs have been issued from the Godown and at present where are they lying. U may use the Godown facility in tally for this which would enable you to track the stock godown wise .If u want any more info please do not hesitate to write to me at dhruveshpatel @ hotmail.com

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CA.Shaleen Srivastava (CA , CWA*, Bcom(H)) (2004 Points)
Replied 27 February 2008

in tally stock position in godown is also present. the entry is normal in journal fixed asset(chairs)a/c dr party(vender) name a/c cr in payment party name a/c dr bank/cash a/c shaleen