10. Enter the following transactions in a cash book with cash and bank columns for the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
10. Enter the following transactions in a cash book with cash and bank columns for the month of April, 2011 2011 Apr. 1 2 5 6 9 12 15 17 20 22 24 27 28 30 Answer: > Answer: Closing cash balance: Rs. 9,577 ➤ Closing bank balance: Rs. 24,425 11. Enter the following transaction in a cash book with cash and bank column for the month July, 2011: 2011 July 1 2 4 7 9 12 15 18 20 Started business with cash Rs. 30,000 Opened a current account with bank and deposited Rs. 9,000 Received Rs. 4,850 for cash sales and discount allowed Rs. 50 Purchased goods of Rs. 3,000 at 10% cash discount, half the amount was paid cash and remaining by cheque Received a crossed cheque for Rs. 7,775 from Megha Association and discount allowed Rs. 25 Purchased machinery of Rs. 13,300 and paid for installation Rs. 700 Received a bearer cheque of Rs. 737 from Rahul in settlement of his account Rs.. 800. Deposited into the bank Rs. 2,000 Transferred Rs. 8,000 from proprietor's saving account to current account. Received a bearer cheque from Vinod Rs. 2,230 Deposited the cheque received from Vinod into the Bank. Bank informed that cheque received from Vinod is dishonoured. Paid for printing bill book Rs. 660 Withdrew from bank for office use Rs. 1,000 (P) Cheque received on 9 July 2011 deposited into the bank. Withdrew from bank for office use Rs.. 7,000. 20 Received a crossed cheque from Prabhu for Rs. 4,670 in full settlement of his account Rs. 4,700 27 Introduced additional capital Rs. 15,000 and deposited the same into the bank. Received a cheque for dividend Rs. 6,245 28 29 Paid electricity bill Rs. 2,000 and telephone bill Rs. 4,100 30 Bank balance Rs. 46,190 Cash in Hand Rs. 23,000, Bank Balance Rs. 14,000 Cash sales Rs. 8,500 at 10% trade discount. Purchased goods for cash Rs. 10,000 at 10% trade discount and 5% cash discount. Half the amount was paid in cash remaining by cheque. Deposited into bank Rs. 8,000 Received on a account a bearer cheque from Sameer for Rs. 9,550 and discount allowed to them Rs. 25 Sold goods for cash Rs. 8,000 at 4% trade discount. Paid Life Insurance Premium Rs. 3,225 Cash balance Rs. 23,730 (P) 10. Enter the following transactions in a cash book with cash and bank columns for the month of April, 2011 2011 Apr. 1 2 5 6 9 12 15 17 20 22 24 27 28 30 Answer: > Answer: Closing cash balance: Rs. 9,577 ➤ Closing bank balance: Rs. 24,425 11. Enter the following transaction in a cash book with cash and bank column for the month July, 2011: 2011 July 1 2 4 7 9 12 15 18 20 Started business with cash Rs. 30,000 Opened a current account with bank and deposited Rs. 9,000 Received Rs. 4,850 for cash sales and discount allowed Rs. 50 Purchased goods of Rs. 3,000 at 10% cash discount, half the amount was paid cash and remaining by cheque Received a crossed cheque for Rs. 7,775 from Megha Association and discount allowed Rs. 25 Purchased machinery of Rs. 13,300 and paid for installation Rs. 700 Received a bearer cheque of Rs. 737 from Rahul in settlement of his account Rs.. 800. Deposited into the bank Rs. 2,000 Transferred Rs. 8,000 from proprietor's saving account to current account. Received a bearer cheque from Vinod Rs. 2,230 Deposited the cheque received from Vinod into the Bank. Bank informed that cheque received from Vinod is dishonoured. Paid for printing bill book Rs. 660 Withdrew from bank for office use Rs. 1,000 (P) Cheque received on 9 July 2011 deposited into the bank. Withdrew from bank for office use Rs.. 7,000. 20 Received a crossed cheque from Prabhu for Rs. 4,670 in full settlement of his account Rs. 4,700 27 Introduced additional capital Rs. 15,000 and deposited the same into the bank. Received a cheque for dividend Rs. 6,245 28 29 Paid electricity bill Rs. 2,000 and telephone bill Rs. 4,100 30 Bank balance Rs. 46,190 Cash in Hand Rs. 23,000, Bank Balance Rs. 14,000 Cash sales Rs. 8,500 at 10% trade discount. Purchased goods for cash Rs. 10,000 at 10% trade discount and 5% cash discount. Half the amount was paid in cash remaining by cheque. Deposited into bank Rs. 8,000 Received on a account a bearer cheque from Sameer for Rs. 9,550 and discount allowed to them Rs. 25 Sold goods for cash Rs. 8,000 at 4% trade discount. Paid Life Insurance Premium Rs. 3,225 Cash balance Rs. 23,730 (P)
Expert Answer:
Answer rating: 100% (QA)
Cash Book with Cash and Bank Columns Month of April 2011 Date Particulars Cash Dr Bank Dr Cash Cr Bank Cr Balance Apr 1 Started business with cash 300... View the full answer
Related Book For
Accounting Business Reporting For Decision Making
ISBN: 9780730302414
4th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver
Posted Date:
Students also viewed these accounting questions
-
Enter the following transactions in a cash receipts journal: July 6 James Adler made payment on account, $643. 10 Made cash sales for the week, $2,320. 14 Betty Havel made payment on account, $430....
-
Enter the following transactions in a cash receipts journal: Nov. 1 Jean Haghighat made payment on account, $750. 12 Marc Antonoff made payment on account, $464. 15 Made cash sales, $3,763. 18 Will...
-
Enter the following transactions in a sales journal. Use a 5% sales tax rate. Sept. 1Sold merchandise on account to K. Smith, $1,800, plus sales tax. Sale No. 228. 3 Sold merchandise on account to J....
-
A project is at the multi-functional planning phase. The project manager realizes that producing a complex application is not feasible with the current number of resources and decides to hire more...
-
If you were redesigning the jobs described in Question, what changes would you make? Are your changes realistic? Would they improve productivity (not just production but productivity)?
-
Kimberly Manis, an architect, organized Manis Architects on January 1, 2016. During the month, Manis Architects completed the following transactions: a. Issued common stock to Kimberly Manis in...
-
New Science leadership: A. Thinks of leadership through a new perspective of naturally occurring events. B. Is based on ethics, biology, and chemistry. C. Involves leading based on the situation. D....
-
Corales Company acquires a delivery truck at a cost of $38,000. The truck is expected to have a salvage value of $6,000 at the end of its 4-year useful life. Compute annual depreciation expense for...
-
What is cost - volume - profit relationships? The Screen Protection shield for mobile phones from the company ZAGG explains why and how it is essential for management to understand cost - volume -...
-
A retail outlet sells holiday candy for $10 per bag. The cost of the product is $8 per bag. All units not sold during the selling season prior to the holiday are sold for half the retail price in a...
-
Venture Limited received a government grant of $1,200,000 towards the purchase of a machine that cost $3,000,000. The asset is to be depreciated over 4 years and has no residual value. The management...
-
By comparing the year-end balance sheets for Beige Corp. in 2020 and 2021, you find that from 2020 to 2021: accounts receivable increased by $3,000,000, inventory decreased by $2,000,000, accounts...
-
Considering Needs Theory, how can a leader identify growth needs in followers?
-
Meredith, who is single, would like to contribute $6,500 to her Roth IRA. Her AGI is $139,000. In your computations, round any division to five decimal places. Round your final answers to the nearest...
-
Use the following information to construct an income statement. Interest Expense $302,056 Sales Cost of Goods Sold $4,106,037 Depreciation Expense $19,877,964 $371,235 Other Operating $1,856,189 Flat...
-
At a bake sale, 15 items were sold for a total of $31. cobblers sold for $3.50 each, strudels sold for $2.00 each, and cookies sold for $1.00 each. The number of cookies was 25 less twice the number...
-
15 of 30 You signed an initial $300,000, 30-years mortgage with BMO. The quoted rate was 6.075% (semi-annual compounding), monthly payments, fixed for 5 years. After exactly 5 years, you plan to...
-
Prairie Outfitters, Inc., a retailer, accepts paymnent through credit cards. During August, credit card sales amounted to $12,000. The processor charges a 3% fee. Assuming that the credit card...
-
WorldBiz Ltd has total assets of $100 million. On 25 June 2013, the company purchased new equipment for its business at a cost of $11 million. The company recorded the purchase as an expense rather...
-
Compare and contrast teleological theories and deontological theories. Discuss whether you think these theories have a place in the modern business society.
-
Explain why debt is a riskier form of finance for a business than equity.
-
The following data pertain to the Farrow Company: Calculate both the amount in dollars and the percentage change in 2019 using horizontal analysis and 2018 as the base year. Sales revenue.. Net...
-
The Sanford Company reported the following income statement in 2018: Required Prepare a 2018 common-size income statement for Sanford Company. Sales revenue.. SANFORD COMPANY Income Statement For the...
-
The following data were obtained from the current financial statements for Kelly Corporation: Required Calculate the following ratios for Kelly Corporation: a. Gross profit percentage b. Return on...
Study smarter with the SolutionInn App