Instructions to the students: Create only one company in your first name and ID no. to record stock items and the transaction. All the reports from Question land 2, is to be pasted in one word file and submitted through e-learning portal on or before the submission time. Question no. 1. XYZ company has purchased the following items for sale. You are required Create company in Tally ERR 9 and record these stock items in Tally ERP 9. Also, you are required to generate the stock summary report. (3Marks+12 Marks) Selling Cost per unit Stock Category Units Salalah Ibri price (as a % of per unit Selling price) Outdoor and Garden Outdoor Sofa sets Danube Nos 115.900 80% Swings Home centre Nos 25 35 59.25 75% 40 30 Ikea Nos 30 50 74.25 80% Glazy Granger Krane Nos Nos Nos 28 24 20 16 32 4.500 15.500 6.000 95% 85% 70% 8 Loungers Garden Wall Crane Bicycle planter Birds on stone Home decor Crackle Wall Art Double deck glass Wall Clock Lightings 20 Arianna Petite Stalpa Nos Nos Nos 80 64 32 42 15.50 3.56 9.75 90% 76% 84% 16 LED 65% Nos Nos Nos 48 36 20 32 16 24 19.900 18.000 9.900 80% 75% LED Solar flood light Milano LED outdoor Wall light Canon LED solar wall light ThiEye Home Fragrance Incense burner Arianna Air revitaliser Tulip Glass Jar Candle Monique | Nos Nos Nos 68 44 12 32 42 8 2.900 4.900 1.700 85% 95% 75% Question no. 2. The following transactions are given from books of Lulu hypermarket for the year 2019. You are requested to create ledgers and record the journal entries in the company which you created in Case 1 and generate the following reports. 1. Trial Balance 2. Day Book 3. Income Statement (35 Marks) Amount (in RO) Date Apr 2 Jan 1 Cash A/C 30,000 Machinery A/C 60,000 Bank Muscat A/C 125,000 Mahri Products Company 24,000 (Cr) Muayad Packaging Factory A/C 30,000 (Dr) Capital 2 Jan 2 Purchased goods and paid by cheque 19,000 Jan 31 Purchased goods from Muscat Chemical Industries and 31,000 got 20% trade discount Feb 1 Cash Sales 50,000 Feb 2 Sold goods to Al Jeel Services and offered 10% trade 50,000 discount Mar 1 Purchased goods from Raya Industries Company 16,000 Mar 2 Cash withdrawn from bank by proprietor for personal use 3000 Mar 31 Sold Machinery worth RO. 6500 for RO. 6000 Apr 1 Goods returned to Muscat Chemical Industries 3000 Paid to Mahri Products Company RO 24,000 in full settlement May 1 Goods returned by Al Joel Services 2.000 May 2 Paid freight on purchases 300 May 31 Withdrew from bank for office use 5000 June 1 Purchased pen, paper and markers OMR 500 June 2 Received cash from Muayad Packaging Factory 12,000 July 1 Purchased Vehicles from Fatma and paid 15% cash 23,000 July 2 Paid Insurance on Office Building 2700 July 31 Paid for fuel and Power 1900 Aug 1 Goods taken by proprietor for personal use 2,000 Aug 2 Sold goods to Rashid Industries 29,600 Aug 31 Paid insurance premium for a full year OMR 2000 by cheque Sep 1 Deposited into Bank 30,000 Received cash from Muayad Packaging Factory 18,000 and fully settled their account Oct 1 Received interest 300 Oct 31 Wages accrued but not paid OMR 3000 Oct 31 Paid Salaries and Wages through bank transfer 5000 For Recording transaction (30 Marks), Ledger Creations (2 Marks) Report generation (3 Marks). Sep 2
