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11. Following cash and banking transactions are given:         Poush 1: Cash in hand Rs. 70,000 and cash at bank  Rs. 50,000.      Poush 5: Goods purchased and paid through cheque Rs. 20,000.      Poush 7: Received cash for the sale of goods Rs. 22,000.     Poush 8: Purchased furniture and paid through cheque Rs.10,000.      Poush 20: Cash deposited into bank Rs. 30,000.      Poush 25: Withdrawn cash Rs. 15,000 from bank for domestic purpose.      Required:  Cash Book with Cash and Bank

Question

  1. Following cash and banking transactions are given:         Poush 1: Cash in hand Rs. 70,000 and cash at bank  Rs. 50,000.      Poush 5: Goods purchased and paid through cheque Rs. 20,000.      Poush 7: Received cash for the sale of goods Rs. 22,000.     Poush 8: Purchased furniture and paid through cheque Rs.10,000.      Poush 20: Cash deposited into bank Rs. 30,000.      Poush 25: Withdrawn cash Rs. 15,000 from bank for domestic purpose.      Required:  Cash Book with Cash and Bank
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Solution

Sure, here is the Cash Book with Cash and Bank columns:

Date Particulars Cash (Rs.) Bank (Rs.) Date Particulars Cash (Rs.) Bank (Rs.)
Poush 1 Balance b/d 70,000 50,000
Poush 7 Sales 22,000
Poush 20 Bank 30,000 Poush 5 Purchases 20,000
Poush 8 Furniture 10,000
Poush 20 Cash 30,000
Poush 25 Withdrawal 15,000
Poush 31 Balance c/d 107,000 20,000
Total 122,000 50,000 Total 15,000 60,000

Here's the step-by-step process:

  1. Start with the opening balances on Poush 1: Cash in hand Rs. 70,000 and cash at bank Rs. 50,000.
  2. On Poush 5, goods were purchased and paid through cheque Rs. 20,000. This is a bank payment, so it's recorded on the bank column on the credit side.
  3. On Poush 7, cash was received for the sale of goods Rs. 22,000. This is a cash receipt, so it's recorded on the cash column on the debit side.
  4. On Poush 8, furniture was purchased and paid through cheque Rs.10,000. This is another bank payment, so it's recorded on the bank column on the credit side.
  5. On Poush 20, cash was deposited into the bank Rs. 30,000. This is a transfer from cash to bank, so it's recorded on the debit side in the bank column and on the credit side in the cash column.
  6. On Poush 25, cash was withdrawn from the bank Rs. 15,000 for domestic purpose. This is a transfer from bank to cash, so it's recorded on the debit side in the cash column and on the credit side in the bank column.
  7. Finally, calculate the closing balances on Poush 31: Cash in hand Rs. 107,000 (70,000 + 22,000 + 15,000 - 30,000) and cash at bank Rs. 20,000 (50,000 + 30,000 - 20,000 - 10,000 - 30,000).

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