Cash Book: Brief Answer Question (Problems and Answers)

 

Brief answer questions of cash book

Brief answer questions are the best collection of brief answer type questions of cash book. Questions are set to understand basic concept of the chapter.

Students and learners are suggested to solve first brief answer type questions of cash book; then solve short answer questions.

First, starts to study and practice from beginning of the chapter; after that, if you feel something is confusion you should comment on comment box without any hesitation.

 

PROBLEMS   AND   ANSWERS

Brief Answer Questions

Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country

BAQ: 1

ABC Traders has following extracted information:

Feb 1:     Opening cash balance Rs 57,000

Feb 2:     Goods purchased for cash Rs 25,000.

Feb 3:     Goods sold for cash Rs 15,000.

Feb 4:     Stationery purchased for Rs 500.

Feb 5:     Rent paid Rs 8,000.

Feb 6:     Interest received Rs 3,000

Required: Single column cash book

[Answer: Cash balance = 41,500]

Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country

BAQ: 2

MC Trade Link has following extracted information:

    Jan 1: Debit cash balance Rs 70,000.

    Jan 2: Goods purchased from Reema for cash Rs 30,000.

    Jan 3: Goods sold to Anita worth Rs 20,000 on credit.

    Jan 4: Equipment purchased for Rs 5,000.

    Jan 7: Interest paid Rs 2,000

    Jan 8: Cash deposited into bank Rs 15,000.

Required: Single column cash book

[Answer: Cash balance = 21,000]

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Basic Journal Entries in Nepali	http://tiny.cc/uaakkz
Basic Journal Entries	http://tiny.cc/8aakkz
Journal Entry and Ledger	http://tiny.cc/caakkz
Ledger Account	http://tiny.cc/haakkz
Subsidiary Book	http://tiny.cc/399jkz
Cash Book	http://tiny.cc/889jkz
Trial Balance and Adjusted Trial Balance	http://tiny.cc/c59jkz
Bank Reconciliation Statement (BRS)	http://tiny.cc/q59jkz
Depreciation	http://tiny.cc/ugakkz
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Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country

BAQ: 3

RK Suppliers has following extracted information:

Jan 1:     Opening bank balance Rs 55,000.

Jan 2:     Goods purchased by cheque Rs 25,000.

Jan 5:     Goods sold to Rahul for Rs 27,000 and cheque received of Rs 17,000 in partial.

Jan 10:   Bank charged its service charge Rs 1,000.

Jan 15:   Cash withdrawn from bank for domestic Rs 10,000.

Required: Single column cash book

[Answer: Bank balance = 36,000]

Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country

BAQ: 4

The following extracted balances are given by KK Traders:

March 1:	Debit cash balance Rs 55,000.
March 2:	Goods purchased from Geeta for Rs 40,000 and partial cash paid Rs 20,000.
March 5:	Cash received from Manisha (debtor of las month) Rs 19,500 and discount allowed Rs 500.
March 10:	Cash paid to Geeta Rs 19,500 in full settlement.

Required: Double column cash book

[Answer:  Balance b/d 35,000]

Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country

BAQ: 5

The following extracted balances are given by KL Traders:

February 1:       Debit bank balance Rs 95,000.

February 5:       Goods sold to Ritika for Rs 25,000 on credit.

February 10:     Commission received by cheque Rs 5,000.

February 15:     Cheque issued to Binisha for Rs 54,000 in full settlement of Rs 55,000.

February 20:     Cheque received from Ritika after Rs 500 discount.

February 28:     Computer printer purchase by cheque Rs 10,000.

Required: Double column cash book for the month of February 

[Answer: Bank balance = 60,500]

 

Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country

BAQ: 6

The following extracted balances are given by KK Traders:

April 1:	Opening balance of cash Rs 55,000 and bank Rs 10,000.
April 2:	Cash deposited into bank Rs 30,000.
April 3:	Goods purchased for cash Rs 15,000 and by cheque Rs 25,000.
April 7:	Cash received from Rita Rs 19,700 in full settlement of Rs 20,000.
April 9:	Cash withdrawn from bank for office use Rs 20,000.

Required: Double column cash book.

[Answer: Cash balance = Rs 49,700 Dr; bank balance = Rs 5,000 Cr]

Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country

BAQ: 7 SOLUTION

UP Traders has following extracted balances:

      May 1: Debit cash balance Rs 75,000 but credit bank balance Rs 40,000.

      May 2: Cash deposited into bank Rs 70,000.

      May 3: Cash Rs 25,000 and cheque of Rs 15,000 received from debtor.

      May 5: Interest on overdraft charged by bank Rs 600.

      May 6: Cash withdrawn from bank for private use Rs 10,000.

Required: Double columns cash book

[Answer: Balance: Cash = Rs 30,000; Bank = Rs 34,400]

 

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