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in Accounting Software Package – GNUKhata by (25.6k points)
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Given below the Trial Balance of Akhil & Athulya associates as a 31/3/2018. Prepare Final Account for the year 2018-19

Other Information: 

1. Depreciation of Machinery-4500

2. Rent outstanding-3000 

3. Building depreciated at 1.0% 

4. Salary Outstanding – 3500 

5. Value of closing stock -18000 

6. Value of Motor vehicle depreciated by 5%

1 Answer

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Best answer

Procedure: 

Step 1 – Open GNUKhata Applications → Office → GNUKhata 

Step 2 – Create Organisation Click on Create Organisation tab. Enter the details 

Akhil and Athulya Associates – Profit making 1-4-2018 to 31-3-2019. 

Step 3 – Create Admin & Login Use imaginary data. 

Step 4 – Creation of new subgroup Here we need to create a new Sub Group Vehicles under the Group Fixed Assets. 

Master → Create Account → Select Group Fixed Assets → Select New Sub Group in Sub Group Name → Enter the new Sub Group Name ‘Vehicles’ → Enter the Account Name Motor Vehicles in that Sub Groups Enter the Opening Balance Rs. 1,50, 000 → Save. 

Step 5 – Create Ledger Account Master → Create Account Analysis Table (Trial Balance)

Create all the ledger accounts under appropriate Groups and Sub Groups 

Step 6 – Voucher Entry Enter all adjustments in appropriate voucher type Voucher menu/Transaction Menu → Select Voucher → Type → Number → Date Debit account and amount → Credit account and amount → Save.

Analysis Table (Adjustments)

Step 7 – Enter the value of opening stock and closing stock

1. Master Menu → Edit Account → Select stock at the beginning a/c → Click Edit button 

2. Enter 15000 as opening balances click on. Save button 

3. Enter the values of opening stock and closing stock through appropriate voucher

Voucher Menu/Transaction menu → Journal Analysis Table (Stock)

Step 8 – Display Trial Balance 

Report → Trial Balance

Step 9 – Display profit and loss Account 

Report → Profit & Loss 

Step 10 – Display Balance Sheet Report → Balance Sheet 

Output:

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