The cash book records _______.
- AAll cash payments
- BAll cash receipts
- ✓All cash receipts and payments
- DOnly credit payments
Answer: C.
View full solution →Question types
Recording of Transactions - 2 question types
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M.C.Q (1 Marks)
170 Q→02True False[1 Marks ]
7 Q→03Fill In The Blanks[1 Marks ]
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108 Q→053 Marks Question
52 Q→064 Marks Question
48 Q→076 Marks Question
119 Q→Sample Questions
Recording of Transactions - 2 questions
One sample from each question group in this chapter. Select any group above to see the full set with answer keys.
The total of the Sales Book is posted to:
- ✓Credit of the Sales Account.
- BCredit of the Purchases Account.
- CCredit of the Capital Account.
- DCredit of Customers' Accounts.
Answer: A.
View full solution →Direct deposit made by customer into your bank is recorded on the ______ side of the cash book.
- APayment
- BCredit
- ✓Receipt
- DBoth
Answer: C.
View full solution →The credit balance of bank account indicates________.
- AAmount payable by the bank
- ✓Amount payable to the bank
- CCash at bank
- DLoan from bank
Answer: B.
View full solution →In the Purchases Book the record is in respect of:
- ACash purchases of goods dealt in.
- ✓Credit purchases of goods dealt in.
- CAll purchases of goods dealt in.
- DNone of these.
Answer: B.
View full solution →Cash Account is a real account.
A contra entry appears on both sides of Cash Book.
Assets and Liabilities are the two sides of Cash Book.
Bank Account is a real account.
Cash Book is both a subsidiary book and a ledger account.
When cash is withdrawn from bank, the entry in the Cash Book is called ............ entry.
When a firm maintains a Cash Book, it need not maintain ............ A/c in the Ledger.
For cash deposited into bank, _____________ A/c will be debited and _____________ A/c will be credited.
When a cheque deposited into bank is dishonoured, it is recorded on..................side of Cash Book in...............columa.
The word 'C' against an entry in the Cash Book signifies that this entry is not to be ............ to the ledger.
What kind of transactions are recorded in the Cash Book?
Which GST is levied on inter-state purchase of goods?
What is a Petty Cash Book?
State with reason whether the following statements are True or False:
Sales Return Book records return of goods sold.
Sales Return Book records return of goods sold.
What are the two sides of an account called?
Bank overdraft is a Liability while bank balance is an Asset. Do you agree?
What is an Account?
What is ‘Imprest System' of Petty Cash Book?
What is Contra Entry? How will you recognise it from among other entries in Cash Book?
Do you agree that a Sales Book is used to record invoices issued to customers in respect of goods sold on credit and not cash? Give reasons.
Name the books of original entry where the following transactions will be recorded with reasons thereof:
| a | Goods Purchased from Ram Lal ₹ 5,000 on credit. |
| b | Provision for doubtful debts created @ 5% on debtors with book value of ₹ 10,000. |
| c | Defective goods sold to Babita on credit worth ₹ 4,000 were returned by her. |
| d | Purchased furniture on credit from Mr. Ratan Singh for ₹ 15,000 for use in the business. |
Distinguish between Sales Book and Sales Account. Difference between Sales Book and Sales Account Basis Sales Book.
Enter the following transactions in a simple cash book for December 2016:
|
|
|
₹
|
|
01
|
Cash in hand
|
12,000
|
|
05
|
Cash received from Bhanu
|
4,000
|
|
07
|
Rent Paid
|
2,000
|
|
10
|
Purchased goods Murari for cash
|
6,000
|
|
15
|
Sold goods for cash
|
9,000
|
|
18
|
Purchase stationery
|
300
|
|
22
|
Cash paid to Rahul on account
|
2,000
|
|
28
|
Paid salary
|
1,000
|
|
30
|
Paid rent
|
500
|
Journalise the following transactions:
|
|
|
₹
|
|
(a)
|
Shyam became insolvent. A first and final compensation of 75 paise in a rupee was received from his official receiver. He owed a debt of
|
50,000
|
|
(b)
|
Received cash for a bad debt written off last year
|
25,000
|
|
(c)
|
Rent due to landlord
|
40,000
|
|
(d)
|
Depreciation on office furniture
|
5,000
|
|
(e)
|
Salaries due to staff
|
50,000
|
|
(f)
|
Paid income tax
|
1,50,000
|
|
(g)
|
Received commission ₹ 25,000, half of which is in advance.
|
|
Name the various books of original entries.
Journalise the following transactions in the books of Ashok:
- Received ₹ 11,700 from Hari Krishan in full settlement of his account for ₹ 12,000.
- Received ₹ 11,700 from Shyam on his account for ₹ 12,000.
- Received a first and final dividend of 70 paise in the rupee from the official receiver of Rajagopal who owed us ₹ 7,000.
- Paid ₹ 2,880 to A.K. Mandal in full settlement of his account for ₹ 3,000.
- Paid ₹ 2,880 to S.K. Gupta on his account for ₹ 3,000.
Record the following transactions in the Purchases Book of Subhash General Stores, Delhi:
(Adjustment Entries) From the following information available on 31st March, 2019, pass the necessary Adjustment Entries in the Journal for the year ending on that date:
- Interest accrued ₹ 2,500.
- Wages for March, 2019 outstanding ₹ 10,000.
- Insurance prepaid ₹ 1,500.
- Commission due to manager 6% on net profit after charging such commission. The profit before charging such commission was ₹ 1,06,000.
- Interest due on loan but not paid. Loan of ₹ 1,50,000 was taken at 9% p.a. 9 months before end of the year.
What is petty cash book? Write the advantages of petty cash book?
Prepare double column cash book from the following information for July 2017:
|
₹
|
||
| 01 |
Cash In hand
|
7,500
|
|
|
Bank overdraf
|
3,500
|
|
03
|
Paid wages
|
200
|
|
05
|
Cash sales
|
7,000
|
|
10
|
Cash deposited into bank
|
4,000
|
|
15
|
Goods purchased and paid by cheque
|
2,000
|
|
20
|
Paid ren
|
500
|
|
25
|
Drew from bank for personal use
|
400
|
|
30
|
Salary paid
|
1,000
|
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