Step 1, Find out cash transactions and bank transitions property,
Step 2, Calculate discount from main transaction,
Step 3, Record cash and bank receipts transactions in debit side,
Step 4, Record cash and bank payments transactions in credit side,
Step 5, Sum the debit and credit of cash and bank amount,
Step 6, Find out balance c/d of cash and bank.
Long answer question of cash book is the exam based problems and solution.
It is exam based comprehensive question and solution.
It covers large topic of the chapter.
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 6A
Usha Marbles (P) Ltd has following information:
July 1 |
Cash in hand |
100,000 |
|
July 2 |
Deposited in the bank |
25,000 |
|
July 3 |
Equipment purchased for cash |
25,000 |
|
July 4 |
Sundry expenses paid |
1,000 |
|
July 5 |
Goods purchased |
10,000 |
|
July 6 |
Cheque issued to Bhim in full settlement (creditors of Rs 15,000) |
14,500 |
|
July 7 |
Goods sold to Arjun for cash |
5,000 |
|
July 8 |
Cheque received from Nakul in full settlement (debtors of Rs 20,000) |
19,000 |
|
July 8 |
Nakul’s cheque deposited into bank |
− |
|
July 10 |
Withdrawn from the bank for office use |
5,500 |
|
July 12 |
Domestic expenses paid in cash |
500 |
|
July 14 |
Advance salary paid to Mr Gautam |
2,000 |
|
July 15 |
Bank had paid life insurance premium as per instruction |
10,000 |
|
July 16 |
Goods sold to Sahadev for Rs 10,000; he issued cheque less 3%. |
− |
|
July 17 |
Electricity bill paid |
3,000 |
|
Required: Triple column cash book
[Answer: Balance: Cash = 44,000; Bank = 23,700]
SOLUTION:
Triple Column Cash Book
Date |
Receipt |
LF |
Cash |
Bank |
Dis |
Date |
Payment |
LF |
Cash |
Bank |
Dis |
July 1 |
To Balance b/d |
− |
100,000 |
− |
|
July 2 |
By Bank account |
C |
25,000 |
− |
|
July 2 |
To Cash account |
|
− |
25,000 |
|
July 3 |
By Equipment A/c |
− |
25,000 |
− |
|
July 7 |
To Sales A/c |
C |
5,000 |
− |
|
July 4 |
By Sundry expenses |
− |
1,000 |
− |
|
July 8 |
To Nukul’s A/c |
− |
− |
19,000 |
1,000 |
July 5 |
By Purchase account |
− |
10,000 |
− |
|
July 10 |
To Bank account |
− |
5,500 |
− |
− |
July 6 |
By Bhim’s account |
− |
− |
14,500 |
|
July 16 |
To Sales |
C |
− |
9,700 |
300 |
July 10 |
By Cash account |
C |
− |
5,500 |
|
|
|
|
|
|
|
July 12 |
By Drawing account |
|
500 |
− |
|
|
|
|
|
|
|
July 14 |
By Advance salary |
|
2,000 |
− |
|
|
|
|
|
|
|
July 15 |
By Drawing account |
|
− |
10,000 |
|
|
|
|
|
|
|
July 17 |
By Electricity bill |
|
3,000 |
− |
|
|
|
|
|
|
|
July 17 |
By Balance c/d |
|
44,000 |
23,700 |
500 |
|
|
|
110,500 |
53,700 |
1,300 |
|
|
|
110,500 |
53,700 |
500 |
#######
Click on link for YouTube videos topic wise : |
|
Accounting Equation |
|
Basic Journal Entries in Nepali |
|
Basic Journal Entries |
|
Journal Entry and Ledger |
|
Ledger Account |
|
Subsidiary Book |
|
Cash Book |
|
Trial Balance and Adjusted Trial Balance |
|
Bank Reconciliation Statement (BRS) |
|
Depreciation |
|
Click on link for YouTube videos chapter wise: |
|
Financial Accounting and Analysis (All videos) |
|
Accounting Process |
|
Accounting for Long Lived Assets |
|
Analysis of Financial Statement |
#######
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 6B
SVS Trade Link has following balances on 1st April: (amount in hundred)
Debit balance |
Credit balance |
Cash amount Rs 6,540 |
Bank balance Rs 290 |
Debtors accounts: |
Creditors accounts: |
Birendra (SL 13) Rs 1,200 |
Abhishek (PL 51) Rs 4,400 |
Deepika (SL 14) Rs 400 |
Ritendra (PL 52) Rs 1,000 |
Nilima (SL 15) Rs 2,800 |
Upendra (PL 53) Rs 600 |
RV = receipt voucher; PV = payment voucher
Additional information:
April 5: Cheque received from Birendra deducted discount of Rs 30. (RV 24)
April 10: Settled Ritendra’s account by cheque, deducting 5% discount. (PV 51)
April 12: Cash deposited into bank 1,500.
April 15: Nilima settled her account by cheque 97.5% (RV 25)
April 20: Deepika paid cash after deducted cash discount 5%. (RV 26)
April 25: Paid to Upendra by cheque less cash discount of Rs 30 (PV 52)
April 29: Cash paid to Abishek less cash discount @ 2.5%. (PV 53)
April 30: Salary paid in cash Rs 920.
Required: Triple column cash book
[Answer: Balances: Cash = Rs 210; Bank = Rs 3,590]
SOLUTION:
Triple Column Cash Book
Date |
Receipt |
RV |
LF |
Cash |
Bank |
Dis |
Date |
Receipt |
PV |
LF |
Cash |
Bank |
Dis |
Apr 1 |
To Balance b/d |
|
|
6,540 |
|
|
Apr 1 |
By Balance b/d |
|
|
|
290 |
|
5 |
To Birendra’s A/c |
24 |
SL13 |
|
1,170 |
30 |
10 |
By Ritendra’s A/c |
51 |
PL52 |
|
950 |
50 |
12 |
To Cash account |
|
C |
|
1,500 |
|
12 |
By Bank account |
|
C |
1,500 |
|
|
15 |
To Nilima’s A/c |
25 |
SL15 |
|
2,730 |
70 |
25 |
By Upendra’s A/c |
52 |
PL53 |
|
570 |
30 |
20 |
To Deepika’s A/c |
26 |
SL14 |
380 |
|
20 |
29 |
By Abhishek’s A/c |
53 |
PL54 |
4,290 |
|
110 |
|
|
|
|
|
|
|
30 |
By Salary account |
|
|
920 |
|
|
|
|
|
|
|
|
|
30 |
By Balance c/d |
|
|
210 |
3,590 |
|
|
|
|
|
6,920 |
5,400 |
120 |
|
|
|
|
6,920 |
5,400 |
190 |
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 6C
SM Traders maintains BRS on weekly basis. Following balances available on first week of May:
May 1: Cash balance of Rs 35,000 bank balance (Cr) Rs 70,000.
May 2: Cash Rs 48,500 and cheque of Rs 29,000 received from Ritika in full settlement of Rs 78,000.
May 2: School fee paid of daughter Rs 6,500.
May 2: Interest on overdraft charged by bank Rs 930.
May 3: Cheque received from Ritika being dishonoured and noting expenses paid Rs 500.
May 4: Internet bill paid by bank as per instruction Rs 3,500.
May 5: Advance commission received in cash Rs 1,750
May 7: Different cheques issued for payment of Rs 90,000 but only Rs 50,000 presented for payment on first week.
May 7: Cheques of Rs 1,50,000 deposited for collection but only Rs 1,30,000 realised by bank.
May 7: Cash deposited into bank after leaving Rs 1,500 in the office.
Required: Triple column cash book
[Answer: Balance: Cash = Rs 1,500 given; Bank = Rs 82,320;
*Contra entry = Rs 77,250]
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 |
− |
500 |
May 1 |
By Balance b/d |
|
− |
70,000 |
|
May 2 |
To Ritika’s A/c |
|
48,500 |
29,000 |
|
May 2 |
By Drawing A/c |
|
6,500 |
− |
|
May 5 |
To Adv. Comm. |
|
1,750 |
– |
|
May 2 |
By Interest on OD |
|
− |
930 |
|
May 7 |
To Debtors |
|
– |
1,30,000 |
|
May 3 |
By Ranjana’s A/c |
|
− |
29,500 |
|
May 7 |
To Cash A/c |
C |
|
77,250 |
|
|
(dishonoured) |
|
− |
− |
|
|
|
|
|
|
|
May 4 |
By Internet bill |
|
|
3,500 |
|
|
|
|
|
|
|
May 7 |
By Creditors |
|
|
50,000 |
|
|
|
|
|
|
|
May 7 |
By Bank A/c |
C |
77,250 |
|
|
|
|
|
|
|
|
May 7 |
By Balance c/d |
|
1,500 |
82,320 |
|
|
|
|
85,250 |
236,250 |
500 |
|
|
|
85,250 |
2,36,250 |
Nil |
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