Cash Book
When a cash book is maintained, a separate cash A/c in the ledger is not opened. (True/False)
True
Transactions that cannot be recorded in any special journal are recorded in................
Journal Proper
Rebate is usually allowed for
Defective goods or goods not as per specification
Which of the following will show a credit balance?
a. Carriage inward
b. Carriage outward
c. Discount allowed
d. Discount received
Discount received
If Razi paid ` 9,900 in settlement of her account of ` 10,000, then the discount allowed of ` 100 will be recorded in ..................
Cash Book and Journal Proper
Which of the following is not a reason due to time difference on recording of the transactions while preparing a bank reconciliation statement?
a) Unpresented cheques.
b) Uncollected cheques.
c) Payment side of cash book overcast.
d) Direct deposit by Customer into bank.
Payment side of cash book overcast.
Give the transactions for :
Cash A/c Dr 60,000
Bad Debts A/c Dr 40,000
To R A/c 1,00,000
R becomes insolvent and pays 60 p in a rupee
In a ledger, all ........................accounts are
balanced and carried forward to the next accounting period.
Real and Personal
or
Assets, Capital and Liabilities
Specialized journals are more adequate for which type of businesses
A.Small businesses
B.Big businesses
C.Sole proprietorship
D.Partnership
Big businesses
Choose an item that will increase the credit balance of Pass Book but Cash Book Balance will remain unaffected till information is not received
a) Interest allowed by Bank
b) Directly deposited by customer into Bank
c) Rent Collected by Bank on our behalf
d) All of above
All of the above
Journalise:
Placed in fixed deposit at bank by transfer from current account ` 2,500.
Fixed Deposit A/c Dr 2500
To Bank A/c 2500
Pick the odd one out:
Accrued Commission
Prepaid Rent
Outstanding Salary
Rent paid
Oustanding Salary
Starting with debit balance as per Pass Book, effect of:
Out of the total cheques amounting to `50,000 issued cheques aggregating `15,000 were debited in March, cheques aggregating `20,000 were debited in April, and the rest have not been debited
- 35,000
Journalise :
Goods are sold to Sid at the list price of ` 4,00,000 less 20% trade discount and 2% cash discount and paid 50% by cheque
Sid A/c DR 1,60,000
Cash A/c Dr 1,56.800
Discount allowed A/c Dr 3,200
To Sales A/c 3,20,000
Preparation of Trial Balance doesnot help in the following:
a. Preparing final accounts
b. Checking arithmetical accuracy
c. Posting journal entries
d. Locating errors
Posting journal entries
Cash Book of a trader shows a debit bank balance of Rs. 6400. While comparing it with Pass-Book, it was found that a cheque of Rs. 7200 issued was recorded on the debit side of Cash- Book. The Pass-Book balance at this point of time would show a balance of?
Debit Balance o Overdraft Balance of 8,000
Journalise :
Paid instalment of bank loan ₹50,000 and interest on loan ₹2,000.
Interest A/c Dr 2000
Loan A/c Dr 50000
To Cash/Bank A/c 52000
Trial Balance is a list of .......... (type of accounts)
Real, Personal, Nominal