Under triple column cash book, three amount columns are prepared in one side.
They are cash, bank and discount.
Debit side records receipt amount.
Credit side records payment amount.
But discount received is recorded in credit and discount allowed is recorded in debit side.
From this account cash balance, bank balance and total of discounts are calculated.
Triple Column Cash Book
Date |
Receipt |
LF |
Cash |
Bank |
Dis |
Date |
Payment |
LF |
Cash |
Bank |
Dis |
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To Balance b/d |
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By Balance c/d |
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xxxx |
xxxx |
xxx |
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xxxx |
xxxx |
xxx |
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 4A
Sushma Traders (P) Ltd has following extracted information:
July 1 |
Opening balance of bank 43,000 and cash Rs 50,000. |
July 2 |
Rent paid Rs 25,000 by cheque. |
July 3 |
Goods sold in cash Rs 141,000. |
July 4 |
Paid travel expenses in cash Rs 23,500. |
July 5 |
Paid to GK Suppliers by cheque Rs. 47,500 after deducting Rs 2,500 as discount. |
July 6 |
Received a cheque from PK Traders Rs 58,500 after adjusting discount of Rs 1,500. |
July 7 |
Goods sold and cheque received Rs 80,000. |
July 8 |
Machinery purchased for Rs 94,000. |
July 9 |
Salary paid in cash Rs 52,500 and by cheque of Rs 20,000. |
July 10 |
Cash deposited Rs 25,000 into bank. |
Required: Triple column cash book
[Answer: Cash balance = 54,500; Bank balance = 55,500]
SOLUTION:
Triple Column Cash Book
Date |
Receipt |
LF |
Cash |
Bank |
Dis |
Date |
Payment |
LF |
Cash |
Bank |
Dis |
July 1 |
To Balance b/d |
|
50,000 |
43,000 |
− |
July 2 |
By Rent account |
|
− |
25,000 |
− |
July 3 |
To Sales account |
|
141,000 |
|
|
July 4 |
By Travel expenses |
|
23,500 |
|
|
July 6 |
To PK traders |
|
58,500 |
− |
1,500 |
July 5 |
By GK Suppliers |
|
− |
47,500 |
2,500 |
July 7 |
To Sales account |
|
|
80,000 |
|
July 8 |
By Machinery A/c |
|
94,000 |
|
|
July 10 |
To Cash account |
C |
|
25,000 |
|
July 9 |
By Salary account |
|
52,500 |
20,000 |
|
|
|
|
|
|
|
July 10 |
By Bank account |
C |
25,000 |
− |
|
|
|
|
|
|
|
July 10 |
By Balance c/d |
|
54,500 |
55,500 |
− |
|
|
|
249,500 |
148,000 |
1,500 |
|
|
|
249,500 |
148,000 |
2,500 |
#######
Click on link for YouTube videos topic wise : |
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Accounting Equation |
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Basic Journal Entries in Nepali |
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Basic Journal Entries |
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Journal Entry and Ledger |
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Ledger Account |
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Subsidiary Book |
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Cash Book |
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Trial Balance and Adjusted Trial Balance |
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Bank Reconciliation Statement (BRS) |
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Depreciation |
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Click on link for YouTube videos chapter wise: |
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Financial Accounting and Analysis (All videos) |
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Accounting Process |
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Accounting for Long Lived Assets |
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Analysis of Financial Statement |
#######
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 4B
Asha Traders has following extracted information:
June 1: Debit balance of Rs 25,000 and credit balance of bank Rs 40,000.
June 2: Goods purchased from Sagar worth Rs 20,000.
June 3: Goods sold to Eliza worth Rs 85,000 and received cash Rs 35,000 and balance of cheque.
June 4: Cheque received from Suraj for Rs 29,500 after discount of Rs 500.
June 6: Cheque issued for rent Rs 12,000.
June 7: Cash paid to Sagar Rs 19,700 in full settlement.
June 8: Cash deposited into bank Rs 30,000.
Required: Triple column cash book
[Answer: Balance: Cash = Rs 10,300; Bank = Rs 57,500]
SOLUTION:
Triple Column Cash Book
Date |
Receipt |
LF |
Cash |
Bank |
Dis |
Date |
Payment |
LF |
Cash |
Bank |
Dis |
June 1 |
To Balance b/d |
|
25,000 |
− |
− |
June 1 |
By Balance b/d |
|
|
40,000 |
− |
June 3 |
To Sales account |
|
35,000 |
50,000 |
− |
June 5 |
By Rent account |
|
− |
12,000 |
− |
June 4 |
To Suraj’s A/c |
|
− |
29,500 |
500 |
June 6 |
By Sagar’s A/c |
|
19,700 |
− |
300 |
June 8 |
To Cash A/c |
C |
− |
30,000 |
|
June 8 |
By Bank account |
C |
30,000 |
− |
− |
|
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June 8 |
By Balance c/d |
|
10,300 |
57,500 |
− |
|
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60,000 |
109,500 |
500 |
|
|
|
60,000 |
109,500 |
300 |
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 4C
Usha Traders has following extracted balances:
May 1: Cash balance of Rs 35,000 bank balance (Cr) Rs 70,000.
May 2: Cash Rs 50,000 and cheque of Rs 29,000 received from Ranjana after 1,000 discount.
May 3: Sundry office expenses paid by cash Rs 6,000
May 5: Interest on overdraft charged by bank Rs 950.
May 8: Cheque received from Ranjana endorsed to Srijana in full settlement of Rs 30,000.
May 9: Cash deposited into bank leaving Rs 3,500 in the office.
Required: Triple column cash book
[Answer: Balance: Cash = 3,500 given; Bank = 4,050;
*Contra entry = 75,000]
SOLUTION:
Triple Column Cash Book
Date |
Receipt |
LF |
Cash |
Bank |
Dis |
Date |
Payment |
LF |
Cash |
Bank |
Dis |
May 1 |
To Balance b/d |
|
35,000 |
− |
|
May 1 |
By Balance b/d |
|
− |
70,000 |
− |
May 2 |
To Ranjana’s A/c |
|
50,000 |
29,000 |
|
May 3 |
By Sundry expenses |
|
6,500 |
|
|
May 9 |
To Cash account |
C |
|
75,000 |
1,000 |
May 5 |
By Interest account |
|
− |
950 |
− |
|
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May 8 |
By Srijana’s A/c |
|
− |
29,000 |
1,000 |
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(endorsed) |
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May 9 |
By Bank account |
C |
75,000 |
− |
|
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May 9 |
By Balance c/d |
|
3,500 |
4,050 |
|
|
|
|
85,000 |
104,000 |
1,000 |
|
|
|
85,000 |
104,000 |
1,000 |
********
PROBLEMS AND ANSWERS |
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 4A
Nalanda Traders has following extracted information:
July 1 |
Debit balance of cash 40,000 and bank Rs 50,000. |
July 2 |
Goods sold and cheque received Rs 38,800. |
July 3 |
Paid travel expenses in cash Rs 12,000. |
July 4 |
Paid to MK Traders by cheque Rs 49,500 in full settlement of Rs 50,000. |
July 5 |
Received a cheque from PK Traders Rs 9,800 after adjusting discount of Rs 200. |
July 6 |
Goods sold to Manisha worth Rs 15,000. |
July 7 |
Laptop purchased for cash Rs 44,000. |
July 8 |
Cash withdrew from bank for office use Rs 30,000. |
Required: Triple column cash book
[Answer: Cash balance = 14,000; Bank balance = 19,100]
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