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In Triple column cash book, the balance of bank overdraft brought forward will appear in ______.
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Which of the following is recorded as contra entry?
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If the debit and credit aspects of a transaction are recorded in the cash book, it is ______.
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Enter the following transactions in the three column cash book of Kalyana Sundaram.
| 2017 Jan. |
||
| 1 | Balance in hand | 42,500 |
| Balance at bank | 35,000 | |
| 3 | Received for cash sales | 15,700 |
| 4 | Cash paid into bank | 11,500 |
| 6 | Cash purchases | 14,300 |
| 9 | Received dividend directly by the bank through ECS | 2,000 |
| 10 | Pongal advance to staff paid through bank | 17,000 |
| 12 | Received cash from Nagarajan | 11,850 |
| and allowed him discount | 150 | |
| 17 | Paid Magesh in full settlement of his account ` 20,000 | 19,700 |
| 20 | Cash withdrawn for personal expenses | 20,000 |
| 30 | Withdrawn cash from ATM for office use | 1,500 |
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Record the following transactions in the three column cash book of John.
| 2017 Dec. |
₹ | |
| 1 | Cash balance brought forward | 12,600 |
| 1 | Bank overdraft brought forward | 36,000 |
| 1 | Advance paid to petty cashier by cheque | 3,000 |
| 5 | Goods sold for cash | 12,000 |
| 7 | Dividend on shares collected by the banker | 1,000 |
| 13 | Cash paid into Bank | 10,000 |
| 14 | Interest charged by the bank for bank overdraft | 1,500 |
| 18 | Cheque issued to Siddique | 8,000 |
| Discount received from him | 200 | |
| 24 | Insurance claim received by cheque and deposited into bank | 17,000 |
| 28 | Cash received from Baskar | 15,000 |
| Discount allowed to him | 150 | |
| 31 | Deposited into Bank all cash excess of ₹ 18,600 |
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Prepare a triple column cash book of Rahim from the following transactions:
| 2017 Feb. |
||
| 1 | Cash in hand | 25,000 |
| Cash at bank | 10,000 | |
| 5 | Water purifier purchased for office use by cheque | 8,000 |
| 6 | Purchased goods for cash | 9,000 |
| 8 | Received cash from Daniel | 9,900 |
| Discount allowed to him | 100 | |
| 10 | Cheque received for goods sold and deposited in the bank | 40,000 |
| 12 | Paid to Amala by cheque | 14,500 |
| Discount received from her | 500 | |
| 13 | Paid transport charges by cash | 5,000 |
| 14 | Withdrawn cash from bank for office use | 20,000 |
| 24 | Cheque received from Kumar and deposited into the bank | 15,000 |
| 28 | Kumar’s cheque dishonoured |
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What is three column cash book?
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Brifly explain about contra entry with examples.
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The balance in the petty cash book is ______.
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Petty cash may be used to pay ______.
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Small payments are recorded in a book called ______.
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Prepare analytical petty cash book from the following particulars under imprest system:
| 2017 July |
₹ | |
| 1 | Received advance form cashier | 2,000 |
| 7 | Paid for writing pads and registers | 100 |
| 8 | Purchased white papers | 50 |
| 10 | Paid auto charges | 200 |
| 15 | Paid wages | 300 |
| 18 | Postal charges | 100 |
| 21 | Purchased stationery | 450 |
| 23 | Tea expenses | 60 |
| 25 | Paid for speed post | 150 |
| 27 | Refreshment expenses | 250 |
| 31 | Paid for carriage | 150 |
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What is a petty cash book?
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Explain the meaning of the imprest system of petty cash book.
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Write the advantages of maintaining petty cash book.
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Who is considered to be the internal user of the financial information?
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Who are the parties interested in accounting information?
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Why is the following party interested in accounting information?
Investors
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Why is the following party interested in accounting information?
Government
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Discuss the role of an accountant in the modern business world.
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