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Enter the following transaction on to two column cash book 2019 1jan - cash balance- 1635 bank overdraft- 375 3jan - paid to Manoj by cheque- 250 4jan - goods sold for cash - 120 5 Jan - withdrawn from bank for office use -280 10jan- cheque received from ram and sends to bank - 180?
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Enter the following transaction on to two column cash book 2019 1jan -...
Transaction 1: January 1, 2019
The transaction record on January 1, 2019, shows that the cash balance is 1635, indicating that there is cash available. However, there is also a bank overdraft of 375, which means that the company owes the bank money. This could be due to the company having borrowed money from the bank or having made payments that exceed the available cash balance.
Transaction 2: January 3, 2019
On January 3, 2019, the company made a payment to Manoj in the amount of 250, and this payment was made by cheque. This transaction decreases the cash balance as the company uses its available funds to make the payment.
Transaction 3: January 4, 2019
On January 4, 2019, the company sold goods for cash in the amount of 120. This transaction increases the cash balance as the company receives cash from the sale of goods.
Transaction 4: January 5, 2019
On January 5, 2019, the company withdrew 280 from the bank for office use. This transaction decreases the bank balance as the company takes money out of the bank to use for office expenses.
Transaction 5: January 10, 2019
On January 10, 2019, the company received a cheque from Ram in the amount of 180, and this cheque was sent to the bank. This transaction increases the bank balance as the company deposits the cheque into the bank.
In summary, the two-column cash book records the cash and bank transactions of a company. The cash balance and bank overdraft are recorded at the beginning of the accounting period. Payments made by cheque or in cash, as well as cash received from sales or other sources, are recorded as separate transactions in the cash book. This allows for accurate tracking of the company's cash and bank balances throughout the accounting period.
- Cash balance: 1635
- Bank overdraft: 375
The transaction record on January 1, 2019, shows that the cash balance is 1635, indicating that there is cash available. However, there is also a bank overdraft of 375, which means that the company owes the bank money. This could be due to the company having borrowed money from the bank or having made payments that exceed the available cash balance.
Transaction 2: January 3, 2019
- Payment to Manoj by cheque: 250
On January 3, 2019, the company made a payment to Manoj in the amount of 250, and this payment was made by cheque. This transaction decreases the cash balance as the company uses its available funds to make the payment.
Transaction 3: January 4, 2019
- Goods sold for cash: 120
On January 4, 2019, the company sold goods for cash in the amount of 120. This transaction increases the cash balance as the company receives cash from the sale of goods.
Transaction 4: January 5, 2019
- Withdrawn from bank for office use: 280
On January 5, 2019, the company withdrew 280 from the bank for office use. This transaction decreases the bank balance as the company takes money out of the bank to use for office expenses.
Transaction 5: January 10, 2019
- Cheque received from Ram and sent to the bank: 180
On January 10, 2019, the company received a cheque from Ram in the amount of 180, and this cheque was sent to the bank. This transaction increases the bank balance as the company deposits the cheque into the bank.
In summary, the two-column cash book records the cash and bank transactions of a company. The cash balance and bank overdraft are recorded at the beginning of the accounting period. Payments made by cheque or in cash, as well as cash received from sales or other sources, are recorded as separate transactions in the cash book. This allows for accurate tracking of the company's cash and bank balances throughout the accounting period.
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Enter the following transaction on to two column cash book 2019 1jan - cash balance- 1635 bank overdraft- 375 3jan - paid to Manoj by cheque- 250 4jan - goods sold for cash - 120 5 Jan - withdrawn from bank for office use -280 10jan- cheque received from ram and sends to bank - 180?
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Enter the following transaction on to two column cash book 2019 1jan - cash balance- 1635 bank overdraft- 375 3jan - paid to Manoj by cheque- 250 4jan - goods sold for cash - 120 5 Jan - withdrawn from bank for office use -280 10jan- cheque received from ram and sends to bank - 180? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about Enter the following transaction on to two column cash book 2019 1jan - cash balance- 1635 bank overdraft- 375 3jan - paid to Manoj by cheque- 250 4jan - goods sold for cash - 120 5 Jan - withdrawn from bank for office use -280 10jan- cheque received from ram and sends to bank - 180? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Enter the following transaction on to two column cash book 2019 1jan - cash balance- 1635 bank overdraft- 375 3jan - paid to Manoj by cheque- 250 4jan - goods sold for cash - 120 5 Jan - withdrawn from bank for office use -280 10jan- cheque received from ram and sends to bank - 180?.
Enter the following transaction on to two column cash book 2019 1jan - cash balance- 1635 bank overdraft- 375 3jan - paid to Manoj by cheque- 250 4jan - goods sold for cash - 120 5 Jan - withdrawn from bank for office use -280 10jan- cheque received from ram and sends to bank - 180? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about Enter the following transaction on to two column cash book 2019 1jan - cash balance- 1635 bank overdraft- 375 3jan - paid to Manoj by cheque- 250 4jan - goods sold for cash - 120 5 Jan - withdrawn from bank for office use -280 10jan- cheque received from ram and sends to bank - 180? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Enter the following transaction on to two column cash book 2019 1jan - cash balance- 1635 bank overdraft- 375 3jan - paid to Manoj by cheque- 250 4jan - goods sold for cash - 120 5 Jan - withdrawn from bank for office use -280 10jan- cheque received from ram and sends to bank - 180?.
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Enter the following transaction on to two column cash book 2019 1jan - cash balance- 1635 bank overdraft- 375 3jan - paid to Manoj by cheque- 250 4jan - goods sold for cash - 120 5 Jan - withdrawn from bank for office use -280 10jan- cheque received from ram and sends to bank - 180?, a detailed solution for Enter the following transaction on to two column cash book 2019 1jan - cash balance- 1635 bank overdraft- 375 3jan - paid to Manoj by cheque- 250 4jan - goods sold for cash - 120 5 Jan - withdrawn from bank for office use -280 10jan- cheque received from ram and sends to bank - 180? has been provided alongside types of Enter the following transaction on to two column cash book 2019 1jan - cash balance- 1635 bank overdraft- 375 3jan - paid to Manoj by cheque- 250 4jan - goods sold for cash - 120 5 Jan - withdrawn from bank for office use -280 10jan- cheque received from ram and sends to bank - 180? theory, EduRev gives you an
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