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Question No 08 B Chapter No 7 – D.K Goal 11 Class

Shubham
Question No 08 B Chapter No 7

Question No 08 B Chapter No 7

08.(B)Prepare a Cash Book with Discount ,Cash and Bank Columns from the following transactions:−

2018   Rs
May.1 Cash in hand 4,800
  Bank Overdraft 30,400
May.2 Fresh Capital introduced  20,000
May.3 Deposited into Bank  15,000
May.4 Sold goods to Mahesh on Credit 6,200
May.5 An amount of 4,200 due from Ashok written off as bad debts in the previous year, now recovered.   
May.6 Withdrew from bank for the payment of Life Insurance Premium 3,000
May.8 Received a cheque form, Mahesh, for 6,000 in full settlement of his account and deposited the same into the Bank  
May.10 Sold goods to Varun on Credit 30,000
May.12 Received a cheque for 28,000 from Varun in full settlement.  
May.15 Cheque received from Varun sent to Bank  
May.18 Varun’s cheque returned by Bank dishonored. Bank charged 25 on this cheque  
May.20 Received a cheque of 6,800 from Vijay which was endorsed to Amritraj on 23rd May.  
May.25 Withdrew cash from Bank 5,000 for paying gift to his daughter on her birthday.  
May.26 Bought goods from Gupta General Store for 10,000 on credit and they allowed us trade discount of 25%  
May.28 Paid to Gupta General Stores in cash in full settlement 7,000
May.28 Sale of old machinery, the payment received in cash 7,700.  
May.30 Paid Salary by cheque 1,500. Paid Rent in cash 2,200.  
May.31 Paid into Current Account the entire balance after retaining 5,000 at office.  

The solution of Question No 08 B Chapter No 7: –

Dr. Cash Book Cr.
Date Particulars
 L.
F.		 Discount
Allowed		 Cash Bank Date Particulars
 L.
F.		 Discount Received Cash Bank
2020           2020          
May.1 To Balance b/d   – 4,800 – May.01 By Balance b/d   – – 30,400
May.2 To Capital A/c   – 20,000 – May.03 By Bank A/c   – 15,000 –
May.03 To Cash A/c   – – 15,000 May.6 By Manoj & Co A/c   – – 3,000
May.05 To Bad Debts Recov A/c   – 4,200 – May.18 By Machinery A/c   – – 28,025
May.08 To Mahesh A/c   200 – 6,000 May.25 By Machinery A/c     – 5,000
May.15 To Varun A/c   2,000   28,000 May.28 By Furniture A/c   500 7,000 –
May.28 To Machinery A/c   – 7,700 – May.30 By Kalpna Garments   –   1,500
May.31 To Cash A/c       7,500 May.30 By Petty Expenses A/c     2,200  
            May.31 By Salary A/c     7,500  
                       
Jun.30 To Balance c/d   2,200   11,425 Jun.30 By Balance C/d   500
 5,000 –
      2,200 36,700 67,925       500 36,700 67,925

 

 
Date Particulars
 L.F. Debit Credit
2020          
May. 12 Cheques-in-Hand A/c Dr.   28,000  
  Discount Allowed A/c Dr.   2,000  
  To Varun a/c       3c,000
  (Being Received cheque from Varun)        
           
May. 18 Varun A/c Dr.   2,000  
  To Discount Allowed A/c       2,000
  (Being Cheque received from Varun, dishonoured)        
           
May. 20 Cheques-in-Hand A/c Dr.   6,800  
  To Vijay A/c       6,800
  (Being Received cheque from Vijay)        
           
May. 23 Amit A/c Dr.   6,800  
  To Cheques-in-Hand A/c       6,800
  (Being Cheque received from Vijay, endorsed to Amrit)        
         

Cash Deposited into the Bank

Cash Deposited into the bank = Total Cash Column (Dr. side) – Total Cash Column (Cr. side) +Cash Balance maintained
  = 36,700 – (24,200 + 5,000)
  = Rs 7,500

Note: Transaction dated May 04, 2016 and May 10, 2016 will not be recorded in Cash Book because credit transactions will not affect the cash/bank balance

https://tutorstips.com/cash-book/

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D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

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