Kalp Accounting Learning Articles

MUMBAI PHOTOGRAPHY (Partnership) GSTIN -  27ACKFS7411M1Z5 Address : Film City Road,  Goregaon, Mumbai - 400065, Maharashtra Financial Year : 2023-24 (April' 2023 to March' 2024) Assessment Year : 2024-25 (April' 2024 to March' 2025) Date : 02/05/2023 (Transaction No. 12) Invoice No.2 issued to Ms. Mohini, Mumbai for  ₹1,00,300/-(Taxable Value ₹85,000/- GST 18% Value  ₹15,300/- ) on account of her Birthday photography & videography services. See Invoice/Bill details below. Journal Entry Steps to enter in TallyPrime Create Ledger Name 'Ms. Mohini, Bandra' under group 'Sundry Debtors'. Create Ledger Name 'Birthday Photo & Video' under group 'Indirect Incomes'. Go to Voucher Entry Screen Press 'F8' or click on 'F8:Sales'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. There is no

MUMBAI PHOTOGRAPHY (Partnership) GSTIN -  27ACKFS7411M1Z5 Address : Film City Road,  Goregaon, Mumbai - 400065, Maharashtra Financial Year : 2023-24 (April' 2023 to March' 2024) Assessment Year : 2024-25 (April' 2024 to March' 2025) Date : 01/05/2023 (Transaction No. 11) Invoice No.1 issued to Mr.Rajendra Kumar, Mumbai for  ₹1,15,404/-(Taxable Value ₹97,800/- GST 18% Value  ₹17,604/- ) on account of his daughter's marriage photography & videography services. See Invoice/Bill details below. Journal Entry Steps to enter in TallyPrime Create Ledger Name 'Mr. Rajendra Kumar, Mumbai' under group 'Sundry Debtors'. Create Ledger Name 'Wedding Photo & Video A/c' under group 'Indirect Incomes'. Create Ledger Name 'CGST' under group 'Duties & Taxes'. Create Ledger Name 'SGST' under group 'Duties & Taxes'. Go to Voucher Entry Screen Press 'F8' or click on 'F8:Sales'  Press 'F2&

MUMBAI PHOTOGRAPHY (Partnership) GSTIN -  27ACKFS7411M1Z5 Address : Film City Road,  Goregaon, Mumbai - 400065, Maharashtra Financial Year : 2023-24 (April' 2023 to March' 2024) Assessment Year : 2024-25 (April' 2024 to March' 2025) Date : 01/05/2023 (Transaction No. 10) Paid  ₹2,315/- to Raja Stationery Shop vide Cash Memo No.986 towards purchase of office stationery. Journal Entry: Let's know how to enter the above transaction in TallyPrime Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Create Ledger Name 'Printing & Stationery A/c' under group 'Indirect Expenses' Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.

MUMBAI PHOTOGRAPHY (Partnership) GSTIN -  27ACKFS7411M1Z5 Address : Film City Road,  Goregaon, Mumbai - 400065, Maharashtra Financial Year : 2023-24 (April' 2023 to March' 2024) Assessment Year : 2024-25 (April' 2024 to March' 2025) Select Debit and Credit Ledgers involved and pass necessary Journal Entries for the below mentioned Real Life Business Transactions. In these below mentioned transactions, all the answers are in the following order Step - 1 Debit and Credit Ledgers involved with mentioning type and flow of Ledger Accounts. Step - 2 Journal Entry Step - 3 Entry in TallyPrime Date : 01/05/2023 (Transaction No. 10) Paid  ₹2,315/- to Raja Stationery Shop vide Cash Memo No.986 towards purchase of office stationery. Debit Ledger : Printing & Stationery A/c In Traditional Approach - ' Printing & Stationery A/c ' is under type Nominal Account - Expense. In Modern Approach -  ' Printing & Stationery A/c' is under type Expenses Acco

  MUMBAI PHOTOGRAPHY (Partnership) GSTIN -  27ACKFS7411M1Z5 Address : Film City Road,  Goregaon, Mumbai - 400065, Maharashtra Financial Year : 2023-24 (April' 2023 to March' 2024) Assessment Year : 2024-25 (April' 2024 to March' 2025) Date : 02/04/2023 (Transaction No. 9) Purchased a Printer for ₹1,87,270/- from Sigma Digital Store vide Cash Memo No.1915, paid vide Chq No.100303 Journal Entry: Let's know how to enter the above transaction in TallyPrime Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Create Ledger Name 'Printer A/c' under group 'Fixed Assets' Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.  

  MUMBAI PHOTOGRAPHY (Partnership) GSTIN -  27ACKFS7411M1Z5 Address : Film City Road,  Goregaon, Mumbai - 400065, Maharashtra Financial Year : 2023-24 (April' 2023 to March' 2024) Assessment Year : 2024-25 (April' 2024 to March' 2025) Date : 02/04/2023 (Transaction No. 8) Amount paid to Mr.Arjun Sekhar vide Chq No.100302 towards Electrical Fittings for  ₹2,37,560/-. Journal Entry: Let's know how to enter the above transaction in TallyPrime Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Create Ledger Name 'Electrical Fittings A/c' under group 'Fixed Assets' Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.  

MUMBAI PHOTOGRAPHY (Partnership) GSTIN -  27ACKFS7411M1Z5 Address : Film City Road,  Goregaon, Mumbai - 400065, Maharashtra Financial Year : 2023-24 (April' 2023 to March' 2024) Assessment Year : 2024-25 (April' 2024 to March' 2025) Date : 02/04/2023 (Transaction No. 7) Purchased Computer for ₹98,900/- from Sigma Digital Store vide Cash Memo No.1903.  Journal Entry: Let's know how to enter the above transaction in TallyPrime Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Create Ledger Name 'Computer A/c' under group 'Fixed Assets' Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.

MUMBAI PHOTOGRAPHY (Partnership) GSTIN -  27ACKFS7411M1Z5 Address : Film City Road,  Goregaon, Mumbai - 400065, Maharashtra Financial Year : 2023-24 (April' 2023 to March' 2024) Assessment Year : 2024-25 (April' 2024 to March' 2025) Date : 02/04/2023 (Transaction No. 6) Purchased a Camera for ₹3,21,875/- from Photo World Pvt. Ltd. vide Bill/CM No.3905 and paid vide Cheque No.100301 of HDFC Bank CA No.12456. Journal Entry: Let's know how to enter the above transaction in TallyPrime Steps to enter in TallyPrime. Go to Voucher Entry Screen Press 'F5' or click on 'F5:Payment'  Press 'F2' or click on 'F2:Date' to enter Date of Voucher/Date of Transaction. Create Ledger Name 'Camera A/c' under group 'Fixed Assets' Place Debit Ledger and Credit Ledger Accounts with amount as mentioned in the image below. Press 'Ctrl+A' to Accept/Save Voucher. Now Voucher Entry for the above transaction is Complete.