Question No 7 Chapter No 10 – T.S. Grewal 11 Class

Question No 7 Chapter No 10

Record the following transactions in Double Columns Cash Book and Balance the book on 31st March 2018

The solution of Question No 7 Chapter No 10:- 

In the Books of Gupta Store

All transactions which are highlighted with (*) are explained as following as follows: –

*Jun.1 Cash in Hand Rs 800, Bank Overdraft Rs 5,700

Bank overdraft means the business takes a short term loan from the bank. So, it will be treated as a liability. And it will be shown on the credit side of the cash book in the bank column.

*Jun.7 Received a Cheque from Bharati, Discount allowed Rs 150

Cheque received from Bharati is not deposited in the bank till date, So the journal entry will be posted as shown below:

Cheque in hand  A/c                                 Dr.      3,250

Discount Allowed  A/c                             Dr.          150

                  To Bharati’s A/c                                                   3,400

(Being payment received by cheque from Bharati and allowed her discount)

*Jun.9 Deposited the above cheque into Bank

Bank  A/c                                 Dr.      21,200

                  To Cheque in Hand A/c                                            21,200

(Being Cheque deposited into the bank)

*Jun.15 Cheque Received from Panna Lal 1,200

Cheque received from Bharati is not deposited in the bank till date, So the journal entry will be posted as shown below:

Cheque in hand  A/c                                 Dr.      1,200

                 To Panna Lal A/c                                                   1,200

(Being payment received by cheque from Panna Lal)

*Jun.28 Panna Lal’s cheque was endorsed to Kamal

Kamal  A/c                                                       Dr.      1,200

                  To Cheque in Hand A/c                                            1,200

(Being Cheque of Panna Lal endorsed to the Kamal)

To understand more about cash book please check out following links: –

Cash Book | Types of Cash Book | Subsidiary Books

Single Column Cash Book | Explained with Example

Double Column Cash Book | Explained with Example

Triple Column Cash Book | Explained with Example

Petty Cash Book | Example | Subsidiary Books

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Also, Check out previous Chapters: –

• Chapter No. 5 – Accounting Equation
• Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
• Goods and Services Tax(GST)
• Chapter No. 8 – Journal
• Chapter No. 9 – Ledger

Check out T.S. Grewal +1 Book 2019 @ Official Website of Sultan Chand Publication