Prepare two columns Cash Book from the following transactions for the year 31 December 2018. (a)Cash in hand Rs. 12,000 (b)Received from Riaz and Co. Rs 1,000 Discount allowed Rs. 40 (c)Cash sales Rs.20,000 (d)Paid Zahoor sons Rs 1,000 Discount received Rs. 30 (e)Purchased goods for cash Rs. 600 (f) Received from Salman Rs. 5,000 and Discount allowed Rs.30 (g)Purchased Furniture for cash Rs. 600
Q: Record the following transaction in simple cash book for November 2020: 01 Cash in hand 12,500 04…
A: The question is based on the concept of Business Accounting.
Q: The following is a summary of Yara Cafe's petty cash transactions for a week: Income…
A: Petty cash funds are maintained for small petty expenses that needs to be incurred in business.…
Q: Rs. 1 Cash in hand…
A: Single column cash book has only one money column on both debit and credit side.
Q: At the end of the day, the cash register tape lists $885.69 as total income from services. Cash on…
A: Journal entry: The record of business transactions in a chronological order in the journal is…
Q: Prepare the journal entry of the following merchandise transactions for the month of January.…
A: The Journal Entries is to be passed as follows:
Q: 1-Saifi halwa shop sold RO 200 worth of halwa to customers for cash. Which of the following…
A: The Numerical has covered the concept of Journal Entry and Receipt Journal. The receipt Journal is a…
Q: The following show the cash book and bank statement respectively for Material Plus Co. Lid for…
A: The bank reconciliation helps to equate the balances of cash book and pass book with various…
Q: Enter the following in the three-column cash book of an office supply shop. Balance off the cash…
A: A cash book refers to a journal prepared to record the cash disbursements and cash receipts in the…
Q: Hunt Company enters all cash payments in the cash payments journal. On February 21, the company…
A: Note: 2/10, n/30: Here, 2 represent the discount rate if payment is made within ten days. And if…
Q: Jones Co has the following transactions: 1 Payment of $400 to J Bloggs for a cash purchase 2…
A: In order to pass a journal entry, three golden rules of accounting needs to be followed a. For real…
Q: Use the following to answer the four questions below On January 17, 2022, Seller Company sold to…
A: Payment terms with 4/10 , n/30 it means a discount of 4% will be given if payment is made by buyer…
Q: 03 March 2022 ●Crisswork • CASH TRANSACTIONS • WORK WITH ACTIVITY • Credit Card Transaction • On 17…
A: Here discuss about the details of the effect in the transaction when the events are occurred in the…
Q: Enter the following transactions in a three column cash book. 2009 Rs. January 1 Cash in hand 410…
A: Three column cash book means the book which include detail regarding cash , bank and discount…
Q: the cash receipts journal. Total and rule the sales journal. Ignore sales taxes. Use the journal…
A: T account: T account is a T-shaped appearance of the journal entries related to a specific account…
Q: Chicken Wings Company is engaged in buying and selling of office equipment which caters both cash…
A: A ledger is a log or list of accounts that keep track of account transfers.
Q: PT Angkasa which is located at Jalan Angkasa Pura No.234 Jakarta, on May 1, 2019 established a petty…
A: Petty Cash refers to cash that is required for day-to-day expenses.
Q: Li Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal,…
A: The cash receipts journal deals with all money inflows of a business association. At the end of the…
Q: Roses Company uses a cash receipts journal. The company charges sales tax, makes bank credit card…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: The information below from (Ali) Company. Jan. 3. The owner withdrew S$7138 cash for personal use.…
A: Journal - the journal is the record of all the transactions. journalizing the process of recording…
Q: 1. Record the transactions in the general journal. If required, round your answers to two decimal…
A: Cash Receipts Journal: It is a special book where only cash receipts transactions that are…
Q: 2. Use the following account to prepare a cash book amendment and a reconciliation Cash book (Bank…
A: Cash Book Amendment: Date Details Amount Date Details Amount Jan31 Bal b/d 72,000 Jan 31 To…
Q: Prepare a cash receipts journal and then record the following cash receipts transactions. July 1 The…
A: Special Journal: Special journals are used to record similar kind of transactions to expedite…
Q: Record them in the Pats journal and ledger accounts and compile a trail balance.
A: Accounting is the process of recording financial transactions that are material to the business. It…
Q: Chapter 2 Record the following transaction in simple cash book for November 2020= 01 Cash in hand…
A: Note: Only the question under Chapter 2 is being answered as it takes a prominent position in the…
Q: Global Fiter Corp. completed the following petty cash transactions during May and June in 2014 May…
A: Imprest System of Petty Cash The general ledger account Petty Cash will remain inactive at a fixed…
Q: The following details relates to a second hand bookshop at Mariakani. 2019 Nov: 1st: Balance…
A: Cash book with two column means that this book will contain information regarding two accounts…
Q: The following transactions relate to Pat’s business for the month of December 2019. 1.12.19 Started…
A: Following are the requisite Journal entries, ledger accounts and Trial balance
Q: Scharf Company is a retailer located in a state without sales tax. The following data were given to…
A: Journal: Journal is the book of original entry. Journal consists of the day today financial…
Q: On November 2, 2022, Crane Company has cash sales of $6040 from merchandise having a cost of $3540.…
A: Cash sales refers to those sales that are made in cash , or by credit cards or by a cheque. When a…
Q: The Cash account of Silver Maple Art Gallery shows the following at April 30, 2014 Cash Date Item…
A: 1) Silver Maple Art Gallery’s bank reconciliation as on April 30, 2014 :- Particulars Amount…
Q: A three-column cash book is to be written the relevant discount accounts in the general ledger. 2007…
A: Cash book (CB) refers to the financial journal which is prepared by companies as it states all the…
Q: Miller Corporation’s December 31, 2019, bank statement showed a $2,041.25 balance. On this date,…
A: Journal entry is a primary entry that records the financial transactions initially.
Q: On 1 May 20X9 Marshall's cash book showed a cash balance of $224 and an overdraft of $336. During…
A: We have the following information: On 1 May 20X9 Marshall's cash book showed a cash balance of $224…
Q: amount which will be transferred to Cash sales column of Cash receipts book
A: Cash sales column of Cash receipts book include cash receipts received from cash sales.
Q: Prepare a cash payments journal and then record the following cash payments transactions. July 5…
A: Journal Entry means an entry to be recorded in the accounting books of the company for all the…
Q: Using the following cash payments journal, identify each of the posting references, indicated by a…
A: Cash payment Journal all the expenses made and paid by cash during a particular period of time. All…
Q: Analyze and answer the following given problems. HAPPY FAMILY Convenience Store is managed by Juan…
A: Cash includes currency, coins, checks received not deposited (except postdated) demand deposits…
Q: Prepare a columns cash book from the following transcation for the year 31 december 2019.cash in…
A: Cash book includes all the cash related transection such as cash received or cash paid.
Q: Scharf Company is a retailer located in a state without sales tax. The following data were given to…
A: Journal entry is a record maintained in the books of accounts for the financial transaction made. It…
Q: Enter the following transactions in a cash receipts journal. Use a 5% sales tax rate. Total and rule…
A: Cash receipts journal: This journal is used for recording cash transactions of a business which…
Q: Lloyd Gurango Co. completed the following sales transactions during the month of June 2019. All…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: You were hired by Mr. Agosto to prepare his sari-sari store’s Statement of Financial Position. In…
A: The balance sheet is the representation of financial position of the business with assets and…
Q: if a cashier rang up sales totaling $4.000, but had only $3.997 to deposit which journal entry would…
A: If a cashier rang up sales totaling $4,000, but had only $3,997 to deposit, which journal entry…
Q: Jervis sells $4,300 of its accounts receivable to Northem Blank in order to obtain necessary cash.…
A:
Q: ABC Company, located in La Trinidad, Benguet, sold merchandise to Minda, a customer located in La…
A: A cash discount is the fixed percentage of the selling price of goods and services. It is provided…
Q: Nakashima Gallery had the following petty cash transactions in February of the current year.…
A: Petty cash fund: this fund is created in order to reflect the expenses of nominal amounts like bills…
Q: Prepare two columns Cash Book from the following transactions for the year 31 December 2018. (a)Cash…
A: Two column cash book means the book which include detail regarding cash and discount column. All…
Q: Record the following transactions in the cash receipts journal. Jun. 12 Your company received…
A: Sales discount = Sales x discount rate = $1,715 x 2% = $34.30 Cash received = Sales - Sales…
Q: Write up two-column cash book from the following details, and balance off as at the end of the month…
A: A cash book is a separate book in which monetary transactions are recorded, while a cash account is…
Do not copy from bartleby. Otherwise i will give you dislike
Prepare two columns
Step by step
Solved in 2 steps
- Do not copy from bartleby. Prepare two columns Cash Book from the following transactions for the year 31 December 2018. (a)Cash in hand Rs. 12,000 (b)Received from Riaz and Co. Rs 1,000 Discount allowed Rs. 40 (c)Cash sales Rs.20,000 (d)Paid Zahoor sons Rs 1,000 Discount received Rs. 30 (e)Purchased goods for cash Rs. 600 (f) Received from Salman Rs. 5,000 and Discount allowed Rs.30 (g)Purchased Furniture for cash Rs. 60021) Solo traders has the following transactions for the month of February 2019. 9- Goods purchased and paid cash of RO 2,200 14- Paid Salaries of RO 800 19- Paid cash of RO 8,400 to Ali mart for the goods purchased on credit. 24- Paid RO 6,600 to Black traders for the goods purchased on credit. Calculate and show the amount which will be transferred to Account payable column of Cash payments book for the month of February 2019? a. RO 8,400 b. RO 2,200 c. RO 15,000 d. RO 80010) olo traders has the following transactions for the month of February 2019. 9- Goods purchased and paid cash of RO 2,200 14- Paid Salaries of RO 800 19- Paid cash of RO 2,500 to NBO for the payment of loan. 24- Paid RO 6,600 to Black traders for the goods purchased on credit. Calculate and show the amount which will be transferred to Others column of Cash payments book for the month of February 2019? a. RO 12,100 b. RO 5,500 c. RO 2,200 d. RO 3,300
- 38) Solo traders has the following transactions for the month of January 2019. 9- Goods purchased and paid cash of RO 2,200 14- Paid office expenses of RO 1,240 19- Paid a monthly loan to Bank Muscat of RO 1,450. 24- Paid RO 7,500 to Black traders for the goods purchased on credit. Calculate and show the amount which will be transferred to Total column of Cash payments book for the month of January 2019? a. RO 2,200 b. RO 12,390 c. RO 1,240 d. RO 7,50034) Globe traders business has the following transactions for the month of May 2019. 9- Sold goods and received cash of RO 5,450 14- Received rent of RO 900 19- Received cash from MN traders of RO 2,300 for the goods sold on May 15, 2019, on credit. 25- Sold goods to RG traders and received cash of RO 7,750 Calculate and show the amount which will be transferred to Cash sales column of Cash receipts book for the month of May 2019? a. RO 13,200 b. RO 10,050 c. RO 2,300 d. RO 9009/The business has the following transactions for the month of May 2019. 9- Sold goods and received cash of RO 2,750 11- Received commission of RO 750 17- Received cash from KR traders of RO 3,300 for the goods sold on May 4 2019, on credit. 19- Sold goods to Rainbow traders and received cash of RO 3,250 Calculate and show the amount which will be transferred to the Cash sales column in the cash receipts book for the month of May 2019? a. RO 750 b. RO 6,000 c. RO 3,300 d. RO 3,500
- You are to write up a three-column cash book for Allen Electronics Inc. from the information given below: Cash book of Allen Electronics Inc. showed debit balance of RO 37,550 and Bank overdraft RO 21,575. Following business was transacted took place during the month: Purchased Canon Printer for Cash RO 500; Canon offered a discount of 4% October 1, 2020 October 2, 2020 Cash Sales RO 31,315; The accountant was asked to deposit RO 15,000 into Allen Electronics Inc.'s bank account on the same day October 7, 2020 Purchase furniture RO.2,000; Allen Electronics Inc. gets a discount of 1.5%. It pays RO 1,005 in cash and remaining by cheque October 16, 2020 Received cash of RO 1,900 received from its customer, Mr Imran, deducting 5% discount. The amount was deposited into bank on the same day October 16, 2020 Received a cheque from Ali for RO 775 and it was deposited in the bank on the same October 22, 2020 day. On 25th October, the bank informed Allen Electronics Inc. that this cheque has…Enter the following transactions in a three column cash book. 2009 Rs. January 1 Cash in hand 410Balance at bank 8,9202 Cash sales 4,5003 Paid into bank 4,0005 Purchased stationary 1008 Paid Mahesh by cheque 280Discount received 2012 Gave a cheque for cash purchases 1,50015 Drew for personal use 50020 Drew from bank 1,00021 Paid wages 80031 Bank charges as per pass book 10⦁ A sales invoice totaling Rs 35,000 and dated January 14 has discount terms of 2/10, n/30. If it is paid January 23 and if paid January 27, what would be the entry to record this transaction? ⦁ Record the following transactions in the cash receipts journal: (Format is given Below) March: 3 Received Rs 6000 from J.Ballin settlement of her account 10 Received Rs 6150 from B. Elder in settlement of his account 14 Cash sales for a 2-week period, Rs 4,400 28 Sold Rs 2000 of office supplies to T.S Company (not a merchandise item) 30 Owner made additional investment, Rs 15,000 30 Cash sales for the last two weeks, Rs 2600
- A sales invoice totaling Rs 35,000 and dated January 14 has discount terms of 2/10, n/30. If it is paid January 23 and if paid January 27, what would be the entry to record this transaction? Record the following transactions in the cash receipts journal: (Format is given Below) March: 3 Received Rs 6000 from J.Ballin settlement of her account 10 Received Rs 6150 from B. Elder in settlement of his account 14 Cash sales for a 2-week period, Rs 4,400 28 Sold Rs 2000 of office supplies to T.S Company (not a merchandiseitem) 30 Owner made additional investment, Rs 15,000 30 Cash sales for the last two weeks, Rs 2600 Date Account Credit Cash Dr. Ac. Rec Cr. Sales Income Cr. OE Cr.Record the following transaction in simple cash book for November 2020: 01 Cash in hand 12,500 04 Cash paid to Hari 600 07 Purchased goods 800 12 Cash received from Amit 1,960 16 Sold goods for cash 800 20 Paid to Manish 590 25 Paid cartage 100 30 Paid salary 1,000a). Write up a two-column cash book for a second hand bookshop from the following during the month of November 2020. 1st Balance brought forward from last month: cash ¢2950; bank ¢4,240 2nd Cash sales ¢3,100 3rd Took ¢2,000 out of the cash till and paid it into the bank 4th F. Bell paid us by cheque ¢194 5th Paid for postage stamps in cash ¢80 6th Bought office equipment by cheque ¢310 7th Paid L. Root by cheque ¢940 11th Withdrew ¢1,500 from the bank for business use 12th Paid wages in cash ¢400 13th Cash sales ¢430 14th Paid motor expenses by cheque ¢810 16th J. Bull lent us ¢1,500 in cash 20th K. Brown paid us by cheque ¢174 28th Paid general expenses in cash ¢350 30th Paid insurance by cheque ¢320 b). The bank balance in the cash book and that of the bank statement may disgrace because of informational and timing differences. Explain.
