Question No 09 Chapter No 7

Question No 09 Chapter No 7

09. Compile a Triple Column Cash Book from the following transactions of Kavita Garments∶−

2018 
Feb.1Cash in hand 7,500; Cash at bank 8,000
Feb.3Received a cheque of 5,880 for cash sales. The cheque was immediately deposited into bank. 
Feb.5Received two cheques from Kalpna each of 10,000
Feb.6The first cheque received from Kalpna is endorsed to Sunita in full settlement of 10,200.
Feb.8The second cheque received from Kalpna is returned as dishonored by the bank. The bank has debited our account with 20 as bank charges on this cheque.
Feb.10Received a cheque for the sale of old furniture 1,950. The next day, the cheque is endorsed to a creditor Ramesh in full settlement of 2,000 due to him. 
Feb.12Purchased goods from Mohan on Credit for 8,000
Feb.15Settled Mohan’s account by giving a cheque for 4,000 and Cash for 3,900.
Feb.16Goods sold to Pawan for 6,000. He paid the amount in cash immediately after deducting 2 1/2 % cash discount
Feb.20Paid salary by cheque 5,000.
Feb.25Cash sale to date 50,000 of which 40,000 banked.
Feb.26Paid electric bill of 2,000 for January by cheque. Paid Rent for January 1,500.
Feb.27Cash purchases 5,000, issued a cheque. 
Feb.28Deposited into bank cash retaining 7,500.

The solution of Question No 09 Chapter No 7: –

Dr.Cash BookCr.
DateParticulars
L.
F.
Discount
Allowed
CashBankDateParticulars
L.
F.
Discount ReceivedCashBank
2020     2020     
Feb.1To Balance b/d 7,5008,000Feb.08By Kalpna A/c 10,020
Feb.3To Sale A/c 5,880Feb.15By Mohan A/c 3,9004,000
Feb.06To Cheque in Hand A/c 10,000Feb.20By Salary A/c 5,000
Feb.16To Sale A/c 5,850Feb.26By Outstanding Electric Bill A/c 2,000
Feb.25To Sale A/c 10,00040,000Feb.26By Outstanding Rent A/c  1,500
Feb.28To Varun A/c  10,450Feb.27By Purchases A/c 5,000
      Feb.28By Bank A/c 10,4501,500
            
Jun.30To Balance c/d 150 11,425Jun.30By Balance C/d 350
7,50048,310
   15023,35074,330   35023,35074,330

 

 
DateParticulars
L.F.DebitCredit
2020     
Feb. 05Cheques-in-Hand A/c 1Dr. 10,000 
 Cheques-in-Hand A/c 2Dr. 10,000 
 To Kalpna A/c   20,000
 (Being Received cheque from kalpna)    
      
Feb. 06Sunita A/cDr. 10,200 
 To Cheques-in-Hand A/c 1   10,000
 To Discount Received A/c   200
 (Being Cheque received from Kalpna, endorsed to Sunita)    
      
Feb. 06Bank A/cDr. 10,000 
 To Cheques-in-Hand A/c 2   10,000
 (Being Cheque received from Kalpna, sent to bank for collection)    
      
Feb. 10Cheques-in-Hand A/cDr. 1,950 
 To Kalpna A/c   1,950
 (Being Cheque received against sale of furniture)    
      
Feb. 11Ramesh A/cDr. 2,000 
 To Cheques-in-Hand A/c   1,950
 To Discount Received A/c   50
 (Being Cheque received from Sale of furniture, endorsed to Ramesh)    
     

Cash Deposited into the Bank

Cash Deposited into the bank=Total Cash Column (Dr. side) – Total Cash Column (Cr. side) +Cash Balance maintained
 =23,350 – (5,400 + 7,500)
 =Rs 10,450

Note: Transaction dated Feb. 12, 2017, will not be recorded in Cash Book because credit transactions will not affect the cash/bank balance.

Cash Book | Types of Cash Book | Subsidiary Books

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

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ISC Accounts 11 20 Image min 197x300 - Question No 09 Chapter No 7 - D.K Goal 11 Class
D K Goel accountancy +1 – ISC_Accounts_11_20_Image

 

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