Answered: B) Prepare cash book from the following…

Name: B) Prepare cash book from the following 2015 Oct. 1. Cash in hand Rs 7
Uploaded: 2024-03-04T10:43:15.000Z
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Description: B) Prepare cash book from the following 2015 Oct. 1. Cash in hand Rs 70000 3. Paid into bank Rs 50000 5. Purchased goods for cash Rs 10000 8. Sold goods to Raman Rs 20000 12. Received cash from Raman Rs 15000 18. Paid salary for cash Rs 1800 20. Boug

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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B) Prepare cash book from the following 2015 Oct. 1. Cash in hand Rs 70000 3. Paid into bank Rs 50000 5. Purchased goods for cash Rs 10000 8. Sold goods to Raman Rs 20000 12. Received cash from Raman Rs 15000 18. Paid salary for cash Rs 1800 20. Bought machinery for cash Rs 9000 25. Paid cash to Mohan Rs 5000

Definition Definition Financial journal in which only cash-related transactions are recorded. Cash transactions are posted chronologically in the cash book, which is also called a subsidiary book. All the cash receipts are recorded on the debit side and all the cash payments are recorded on the credit side. An important point to remember is that the cash book never shows a credit balance; only a debit balance is shown in the cash book.

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