UPSC Exam > UPSC Questions > Following transactions in a cash book with ca...
Start Learning for Free
Following transactions in a cash book with cash and Book/lank Transactionalance the cou
OWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Che
book. Carry out the posting in the ledger.
2016
Jan. 1
Cash balance
Jan 1 Jan 2
Paid into bank
Cash received from sale of shares
200
Jan 3 Jan 3
Paid Jules by cheque (discount allowed 100 by himi
14.000
Jan 4
Paid wages in cash
Received cheque from H. Hale (allowed him discount 40)
24
13
Jan 16
Bought goods for cash
Jan 18 Jan 19
Paid for stationery in cash
200
Jan 19
Drew from bank
Paid J. Fales by cheque (Discount allowed by him50)
THE
Jan 20
Received from cash sales
340
Jan 24 Jan 24
Cash withdrawn for personal use
400
Received from Robbins (Allowed him discount 150)
15%
42
Jan 25
Paid into bank
Jan 26
Issued cheque for purchases
200
Jan 26
Drew cheque for personal use
Jan 26 Jan 27
Paid salary by cash
300
Received cheque from Smith Drew cheque for office?
OWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Che
book. Carry out the posting in the ledger.
2016
Jan. 1
Cash balance
Jan 1 Jan 2
Paid into bank
Cash received from sale of shares
200
Jan 3 Jan 3
Paid Jules by cheque (discount allowed 100 by himi
14.000
Jan 4
Paid wages in cash
Received cheque from H. Hale (allowed him discount 40)
24
13
Jan 16
Bought goods for cash
Jan 18 Jan 19
Paid for stationery in cash
200
Jan 19
Drew from bank
Paid J. Fales by cheque (Discount allowed by him50)
THE
Jan 20
Received from cash sales
340
Jan 24 Jan 24
Cash withdrawn for personal use
400
Received from Robbins (Allowed him discount 150)
15%
42
Jan 25
Paid into bank
Jan 26
Issued cheque for purchases
200
Jan 26
Drew cheque for personal use
Jan 26 Jan 27
Paid salary by cash
300
Received cheque from Smith Drew cheque for office?
Most Upvoted Answer
Following transactions in a cash book with cash and Book/lank Transact...
Cash Book Transactions Overview
The following cash book transactions summarize the cash and bank activities for January 2016. Each transaction will be posted to the ledger accounts accordingly.
Transactions
- **Jan 1**: Cash balance brought forward.
- **Jan 2**: Paid into bank: Cash received from sale of shares: **200**.
- **Jan 3**: Paid Jules by cheque (discount allowed by him): **14,000**.
- **Jan 4**: Paid wages in cash; Received cheque from H. Hale (discount allowed): **2413**.
- **Jan 16**: Bought goods for cash: **200**.
- **Jan 19**: Paid for stationery in cash.
- **Jan 19**: Drew from bank; Paid J. Fales by cheque (discount allowed): **50**.
- **Jan 20**: Received from cash sales: **340**.
- **Jan 24**: Cash withdrawn for personal use: **400**; Received from Robbins (allowed him discount): **15B**.
- **Jan 25**: Paid into bank.
- **Jan 26**: Issued cheque for purchases: **200**; Drew cheque for personal use.
- **Jan 27**: Paid salary by cash: **300**; Received cheque from Smith.
Ledger Posting
- **Cash Account**:
- **Debit**: Cash sales, received from H. Hale, cash from Robbins.
- **Credit**: Wages paid, stationery, personal withdrawal, and salary paid.
- **Bank Account**:
- **Debit**: Amounts paid into the bank and received by cheque.
- **Credit**: Payments made via cheques.
- **Purchases Account**:
- **Debit**: Goods bought for cash.
- **Sales Account**:
- **Credit**: Cash sales and sale of shares.
Conclusion
This systematic recording of transactions allows for easy tracking of cash flow and balances. By maintaining a double-column cash book, both cash and bank transactions are organized, facilitating better financial management and reporting.
The following cash book transactions summarize the cash and bank activities for January 2016. Each transaction will be posted to the ledger accounts accordingly.
Transactions
- **Jan 1**: Cash balance brought forward.
- **Jan 2**: Paid into bank: Cash received from sale of shares: **200**.
- **Jan 3**: Paid Jules by cheque (discount allowed by him): **14,000**.
- **Jan 4**: Paid wages in cash; Received cheque from H. Hale (discount allowed): **2413**.
- **Jan 16**: Bought goods for cash: **200**.
- **Jan 19**: Paid for stationery in cash.
- **Jan 19**: Drew from bank; Paid J. Fales by cheque (discount allowed): **50**.
- **Jan 20**: Received from cash sales: **340**.
- **Jan 24**: Cash withdrawn for personal use: **400**; Received from Robbins (allowed him discount): **15B**.
- **Jan 25**: Paid into bank.
- **Jan 26**: Issued cheque for purchases: **200**; Drew cheque for personal use.
- **Jan 27**: Paid salary by cash: **300**; Received cheque from Smith.
Ledger Posting
- **Cash Account**:
- **Debit**: Cash sales, received from H. Hale, cash from Robbins.
- **Credit**: Wages paid, stationery, personal withdrawal, and salary paid.
- **Bank Account**:
- **Debit**: Amounts paid into the bank and received by cheque.
- **Credit**: Payments made via cheques.
- **Purchases Account**:
- **Debit**: Goods bought for cash.
- **Sales Account**:
- **Credit**: Cash sales and sale of shares.
Conclusion
This systematic recording of transactions allows for easy tracking of cash flow and balances. By maintaining a double-column cash book, both cash and bank transactions are organized, facilitating better financial management and reporting.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
Explore Courses for UPSC exam
|
|
Similar UPSC Doubts
Top Courses for UPSCView all
Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office?
Question Description
Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office?.
Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office?.
Solutions for Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office? defined & explained in the simplest way possible. Besides giving the explanation of
Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office?, a detailed solution for Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office? has been provided alongside types of Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office? theory, EduRev gives you an
ample number of questions to practice Following transactions in a cash book with cash and Book/lank Transactionalance the couOWLUSTRATION 5. (Double Column Cash BookBank Transactions) Record Chebook. Carry out the posting in the ledger.2016Jan. 1Cash balanceJan 1 Jan 2Paid into bankCash received from sale of shares200Jan 3 Jan 3Paid Jules by cheque (discount allowed 100 by himi14.000Jan 4Paid wages in cashReceived cheque from H. Hale (allowed him discount 40)2413Jan 16Bought goods for cashJan 18 Jan 19Paid for stationery in cash200Jan 19Drew from bankPaid J. Fales by cheque (Discount allowed by him50)THEJan 20Received from cash sales340Jan 24 Jan 24Cash withdrawn for personal use400Received from Robbins (Allowed him discount 150)15%42Jan 25Paid into bankJan 26Issued cheque for purchases200Jan 26Drew cheque for personal useJan 26 Jan 27Paid salary by cash300Received cheque from Smith Drew cheque for office? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup