1.
In three-column cash books, receipts are entered on the
side and payments on the
side.
2.
The objective of maintaining a cash book is to record all
and
.
3.
In a double-column cash book,
discount is not recorded.
4.
In a cash book, discounts allowed are recorded on the
and discounts received are recorded on the
.
5.
If any entry is made on the debit side and the same entry is recorded on the credit side of the cash book, it is called a
.
6.
If a check is received from customer and paid into the bank on the same day, it will appear on the
side of cash book in the
column.
7.
If a check received from customer is not deposited at the bank on the same day, then it will appear in the
column.
8.
Bank charges are recorded on the
side of the cash book in the
column.
9.
To distinguish contra entries from other entries, the letter
is entered into the
column.
10.
Contra entries are not
.
You can also check: A cash book is a financial record of all cash transactions that occur within a business. This includes receipts, payments, and withdrawals. The cash book can be used to calculate the business's Cash Flow, track inventory levels and monitor financial performance. It can also be used to help make informed business decisions. The following information is typically included in a cash book: date, transaction type, description of the transaction, amount, and source of the cash. The cash book is updated each time a transaction occurs. This information is then used to produce Financial Statements and other reports. The main benefits of using a cash book are that it helps businesses track their financial position, make informed business decisions, and improve their overall financial performance. True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.
Cash Book: Fill In the Blanks FAQs
Cash Book: Fill In the Blanks
