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General Accounting Discussions: cashbook

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    • CommentAuthoralbert
    • CommentTimeAug 28th 2008
     
    How do we enter the following transactions in a cashbook with cash, bank and discount columns.
    2008
    Jan.1 Commenced business with Rs.16,000 in cash
    Jan.2 Paid into bank Rs. 14,500
    Jan.3 Bought goods for Rs. 3,850 and paid by cheque.
    Jan.4 Bought furniture for cash Rs. 680
    Jan.5 Sold goods for cash Rs. 2,600 and deposited the same into bank.
    Jan.10 Bought goods for Rs. 4,850 and paid by cheque.
    Jan.11 Bought stationery for Rs. 185
    Jan.15 Received cash from Hegde Rs.680 allowing him a discount of Rs. 20
    Jan.20 Paid Raj his dues by cheque Rs. 240 receiving a discount of Rs.10
    Jan.25 Paid Chandra by cheque Rs. 400
    Jan.26 Sold goods for cash Rs. 585 and remitted the same into the bank.
    Jan.27 Our cheque to Chandra returned dishonored.
    Jan.29 Drew cheque for salary Rs. 2,365
    Jan.31 Drew cheque for personal use Rs 100
    • CommentAuthorpk
    • CommentTimeAug 29th 2008
     
    Jan.1 Commenced business with Rs.16,000 in cash : Dr. Cash Account/Cr. Capital Account
    Jan.2 Paid into bank Rs. 14,500 : Dr. Bank Account/Cr. Cash Account
    Jan.3 Bought goods for Rs. 3,850 and paid by cheque. " Dr. Purchases/Cr. Cash
    Jan.4 Bought furniture for cash Rs. 680 : Dr. Furniture/Cr. Cash
    Jan.5 Sold goods for cash Rs. 2,600 and deposited the same into bank. : Dr. Bank/Cr. Sales
    Jan.10 Bought goods for Rs. 4,850 and paid by cheque. : Dr. Purchases/Cr. Cash
    Jan.11 Bought stationery for Rs. 185 : Dr. Stationery/Cr. Accounts Payable
    Jan.15 Received cash from Hegde Rs.680 allowing him a discount of Rs. 20 : Dr. Cash/Dr. Discount Allowed/Cr. Hedge
    Jan.20 Paid Raj his dues by cheque Rs. 240 receiving a discount of Rs.10 : Dr. Accounts Payable(Raj)/Cr. Discount Received/Cr. Bank
    Jan.25 Paid Chandra by cheque Rs. 400 : Dr. Chandra (A/R?)/Cr. Bank
    Jan.26 Sold goods for cash Rs. 585 and remitted the same into the bank. : Dr. BAnk/Cr. Sales
    Jan.27 Our cheque to Chandra returned dishonored. : Dr. Bank/Cr. Chnadra
    Jan.29 Drew cheque for salary Rs. 2,365 : Dr. Salary/Cr. Bank
    Jan.31 Drew cheque for personal use Rs 100 : Dr. Drawings/Cr. Bank

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