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11th Standard Accountancy - Subsidiary Books - II Three Marks Questions

Published on: 09/10/2019

Subsidiary Books - II

Download Tamil Nadu 11th Standard Accountancy question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.

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Questions:

Generic 3

10 x 3 = 30

What purpose does an analytical petty cash book serve?

Write notes on posting the petty cash book.

What is cash book? What are its features?

When his business becomes large, what other books will he be maintaining?

Enter the following transactions in Cash book with Cash and Discount column of Mr. Nandakumar.

2016 Feb 1	Cash in hand	Rs.60,000
3	Bought goods from Premnath	Rs.10,000
4	Opened a current account with bank	Rs.15,000
7	Withdrew from bank	Rs.5,000
8	Sold goods to Kandan for Rs.10,000 credit on terms 2% cash discount if payable within two weeks
10	Paid cash to Premnath, less 1% C.D.
14	Received a cheque from Arul Rs.3,400, allowed him discount Rs.100
15	Kandan settled his account

Prepare a double column cash book from the following transactions of Mr. Gopalan.

	Particulars	Rs.
2017 July 1	Cash in hand	4,000
6	Cash purchases	2,000
10	Wages paid	40
11	Cash Sales	6,000
12	Cash received from Suresh and allowed him discount	1,980
19	Cash paid to Meena and discount received	20
27	Cash paid to Radha	2,470
28	Purchased goods for cash	2,070

Enter the following transactions in a Single column Cash book of Mr. Kumaran.

		Particulars	Rs.
2018	Jan 1	Started business with cash	1,000
	3	Purchased goods for cash	500
	4	Sold goods	1,700
	5	Cash received from Siva	200
	12	Paid Balan	150
	14	Bought Furniture	200
	15	Purchased goods from Kala on credit	2,000
	20	Paid electric charges	225
	24	Paid salaries	250
	28	Received commission	75

From the following particulars, prepare Single column Cash book of Ms. Kokila

		Particulars	Rs.
2017	Mar 1	Cash in hand	20,000
	4	Cash Purchases	4,000
	7	Cash Sales	8,000
	8	Paid to Balan	5,000
	9	Received cash from Cheran	10,000
	13	Paid into Bank	10,000
	14	Cash withdrawn from bank	4,000
	18	Paid Salaries	1,000
	20	Bought Furniture	3,000
	28	Rent paid	1,000

Explain the types of petty cash books?

10.

What are the importance of cash book?

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Answers Key:

Generic 3

10 x 3 = 30

Analytical petty cash book: The petty cash book has debit side and credit side. The debit side is smaller and the credit side is bigger and it has many columns. For each important petty expense, there is a separate column and therefore 'columnar cash book' is another name for this petty cash book. In this book, each petty payments is first entered in the total payments column and then recorded in the respective analytical column so that:
(i) the total amount spent on each expenses for a particular period can be easily ascertained by adding up the respective column.
(ii) only the periodical total of each column is posted to ledger. It saves labour and time.
(iii) the total petty payment for any period can be easily ascertained from the total payment column.

Posting of entries in the petty cash account:
(i) When petty cash is advanced at the beginning:
A separate petty cash account is opened in the ledger. When advance is received by the petty cashier, petty cash account will be debited and cash account will be credited.
(ii) When individual expenses column are periodically totalled. The total of various petty expenses are debited and the petty cash account is credited with the total of the payments made.
The petty cash account will show the balance of cash. This balance will be shown in the balance sheet as part of cash balance.

Cash book: It is a special journal (subsidiary book) which is used to record all cash receipts and cash payments. It is a book of original entry or prime entry since transactions are recorded for the first time from the source document.
The features of cash book are:
(i) It is one of the subsidiary books.
(ii) It is a book of original entry.
(iii) The cash book is a ledger. It is designed in the form of a cash account.
(iv) It records all cash receipts on the debit side and all cash payments on the credit side.
(v) It always shows debit balance, as payments can never exceed cash available.

He will be maintaining the following other books to be maintained:
1. Triple column each book.
2. Petty cash book (Analytical).
3. Purchase book for credit purchase
4. Sales book for credit sales.
5. Purchase returns book.
6. Sales returns book.
7. Business book account (i.e. current account to the maintained).
8. Proper journal for other assets maintaining:
(i) All cash transactions book recorded is cash book.
(ii) All petty expenses are to the recorded is analytical petty cash book.
(iii) All credit transactions to the recorded is special purpose books (i.e. purchase book, sales book, purchase return book and sales return book and proper journal.

Date	Receipts	R.N.	L.F.	Amount		Date	Payments	Amount
Date	Receipts	R.N.	L.F.	Discount allowed(Rs.)	Cash(Rs.)	Date	Payments	Discount received(Rs.)	Cash(Rs.)
2016 Feb	To Balance b/d				60,000	2016 Feb 4	By Bank A/c		15,000
1	To Bank A/c				5,000	10	By Premnath's A/c	100	9,900
7	To Arul's A/c			100	3,400	29	By Balance c/d		53,300
14	To Kandan's A/c			200	9,800
15				300	78,200			100	78,200
Mar 1	To Balance b/d				53,300

Date	Receipts	Amount		Date	Payments	Amount
Date	Receipts	Discount allowed(Rs.)	Cash(Rs.)	Date	Payments	Discount received(Rs.)	Cash(Rs.)
2017 July 1	To Balance b/d		4,000	2017 July 6	By Purchases A/c		2,000
11	To Sales A/c		6,000	10	By wages A/c		40
12	To Suresh A/c	20	1,980	19	By Meena A/c	30	2,470
				27	By Radha A/c		400
				28	By Purchases A/c		2,070
				31	By balance A/c		5,000
		20	11,980			30	11,980
Aug 1	To Balance b/d		5,000

**Dr. In the Books of Mr.Kumaran Cash Book(Single column) Cr.**
Date	Receipts	Amount(Rs.)	Date	Payments	Amount(Rs.)
2018 Jan 1	To Capital A/c	1,000	2018 3	By Purchases A/c	500
	To Sales A/c	1,700	12	By Balan A/c	150
	To Siva A/c	200	14	By Furniture A/c	200
	To Commission A/c	75	30	By Electric Charges A/c	225
			24	By Salaries A/c	250
			31	By Balance c/d	1,650
		2,975			2,975
Feb 1	To Balance b/d	1,650

**Dr. In the Books of Ms.Kokila Cash Book(Single column) Cr.**
Date	Receipts	Amount(Rs.)	Date	Payments	Amount(Rs.)
2017 Mar.			2017 Mar.
1	To Balance b/d	20,000	4	By Purchases A/c	4,000
7	To Sales A/c	8,000	8	By Balan's A/c	5,000
9	To Cheran's A/c	10,000	13	By Bank A/c	10,000
14	To Bank A/c	4,000	18	By Salaries A/c	1,000
			20	By Furniture A/c	3,000
			28	By Rent A/c	1,000
			31	By Balance c/d	18,000
		42,000			42,000
Apr.1	To Balance b/d	18,000

(i) Simple petty cash book:
(a) A simple petty cash book resembles the single column cash book. But the ruling is different.
(b) On the debit side, only one amount will be recorded which is the advance received from the head cashier.
(c) On the credit side, all payments are recorded in only one column. This is known as simple petty cash book.
(ii) Analytical petty cash book:
(a) In analytical petty cash book, a separate column is provided for different heads of payments and one column for total payments.
(b) When the petty expenses are recorded in the total payment column, the same amount is also recorded in the appropriate expense column. This is known as Analytical petty cash book.

10.

Importance of cash book is discussed below:
(i) Serves as both journal and ledger: When cash book is maintained; it is not necessary to open a separate cash account in the ledger. Thus, cash book serves the purpose of a journal and a ledger.
(ii) Saves time and labour: When cash transactions are recorded through journal entries, a lot of time and labour will be involved. To avoid this, all cash transactions are straightaway recorded in the cash book, which saves time and labour.
(iii) Shows the cash and bank balance: It helps to know the cash and bank balance at any point of time by comparing the total cash receipts and cash payments.
(iv) Benefit of division of labour: As cash book is a separate subsidiary book, an independent person can maintain it. Hence, the business can get the benefit of division of labour.