Question No 22 Chapter No 7

Question No 22 Chapter No 7

22. Enter the following transaction in a suitable cash book and being down the balances on 29th February 2020

2020 Rs
Feb.15Balance in hand 6,250
 Balance at state bank of India25,000
Feb.16Purchased goods from Shashi Rs 6,000, less 10% trade discount and paid the amount next day by cheque, less 2% cash discount 
Feb.18Received from M/s Brindavan trader: 
 Cash Rs 4,000 and a cheque for Rs 12,000, cheque being sent to the bank 
Feb.19Purchased goods of the list price of Rs 10,000 at 20% trade discount and 5% cash discount and paid the amount on 20th February 
Feb.22Withdrew from the bank for office use 5,000
 Drawn on the bank by Proprietor for own use3,000
Feb.24Received from X by cheque7,500
 Also received a cheque from Y4,000
Feb.25Bank reported the collection of the cheque of M/s Brindavan Traders subject to a collection charge of Rs 20. the bank also reported the dishonor of the cheque of X. 
Feb.26Y’s cheque paid into the bank 
Feb.28Drew from the bank and paid salary4,800
Feb.29Paid all cash except Rs 1,000 into the bank 

The solution of Question No 22 Chapter No 7: –

Dr.Cash BookCr.
DateParticulars
L.
F.
Discount
Allowed
CashBankDateParticulars
L.
F.
Discount ReceivedCashBank
2020     2020     
Feb.15To Balance c/d 6,25025,000Feb.17By Balance b/d 1086,492
Feb.18To Brindavan Trader A/c 4,00012,000Feb.20By Purchases A/c 4007,600
Feb.22To Bank A/c 5,000 Feb.22By Cash A/c 5,000
Feb.24To X A/c 7,500Feb.22By Drawing A/c 3,000
Feb.26To Y A/c   4,000Feb.25By Brindavan Trader A/c 12,020
Feb.28To Bank A/c  4,800 Feb.25By X A/c 7,500
Feb.29To Cash A/c   6,650Feb.28By Cash A/c 4,800
      Feb.28By Salary A/c 4,800
      Feb.29By Bank A/c  6,650 
            
 Jan.30By Balance C/d 170
1,00029,538
   15,25055,150   17015,25055,150

Working Note:-

Cash Deposited into the Bank

Cash Deposited into the bank=Total Cash Column (Dr. side) – Total Cash Column (Cr. side)  +Cash Balance maintained
 =20,050 – (12,400 + 1,000)
 =Rs 6,650

Cash Book | Types of Cash Book | Subsidiary Books

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