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11th Standard CBSE Accountancy Unit 4 Recording of Transaction - II Important Question Paper

Published on: 28/07/2019

Recording of Transaction - II

Download CBSE Class 11th Standard CBSE Accountancy question papers, sample papers, important questions, and previous year solved papers in PDF format. Get free study materials, NCERT solutions, and exam preparation resources for Class 11th Standard CBSE Accountancy

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Std: 11th Standard CBSE - Accountancy

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Questions:

1 Marks

4 x 1 = 4

What is the purpose of cash discount?

What is a contra entry?

What is meant by simple or single column Cash Book?

What does the left side of the Cash Book show?

Generic 4

1 x 4 = 4

How will you make posting from a petty Cash Book?

Generic 6

3 x 6 = 18

M/s Ruchi trader started their cash book WIth the following balances on Dec. 01,2014 : Cash In hand Rs 1,354 and balance at Bank Account Rs 7,560. He had the following transaction in the month of December, 2014.

	Particulars	Rs
Dec. 03	Cash Sales	2,300
Dec. 05	Purchased goods, paid by cheque	6,000
Dec. 08	Cash Sales	10,000
Dec. 12	Paid Trade expenses	700
Dec. 15	Sales goods, received cheque
	(Deposited same day)	20,000
Dec. 18	Purchased Motor Car paid by cheque	15,000
Dec. 20	Cheque Received from Manisha
	(Not Deposited same day)	10,000
Dec. 22	Cash Sales	7,000
Dec. 23	Manisha's Cheque deposited into bank	10,000
Dec. 25	Manisha's cheque dishonoured.	10,000
Dec. 28	Paid Rent	2,000
Dec. 29	Paid telephone Expenses by cheque	500
Dec. 31	Cash with drawn for personal use	2,000

Prepare Bank column cash Book.

Determine the missing figures of the Cash Book with Bank Column of Pushpanjali on the basis of following transactions:

2017		Rs
March 1	Cash-in-hand	2,20,00
	Cash-at-bank	60,000
March 3	Deposited in Bank	80,000
March 4	Goods purchased and issued a cheque for the same	34,000
March 7	Cash Purchases	16,000
March 8	Paid Commission by cheque	12,000
March 9	Withdrew from bank for private use	2,500
March 12	Received from Ved in full settlement of his account of Rs 6,000,half of the amount was deposited into bank on the same day
March 16	Interest collected by Bank	14,000
March 20	Cash Sales	42,000
March 22	Salaries paid	40,000
March 22	Goods sold to Mona & Co.	36,000
March 23	Received cheque from Mona & Co. after discount of Rs 300	35,700
March 26	Deposited the cheque received from Mona & Co. into Bank

Dr. In the Books of Pushpanjali Double Column Cash Book Cr.
Date	Particular	L.F.	Cash (Rs)	Bank (Rs)	Date	Particular	L.F.	Cash (Rs)	Bank (Rs)
2017					2017
Mar. 1	To Balance b/d		2,20,000	-	Mar. 3	By Bank A/c	-	80,000
Mar. 3	To Cash A/c	-		-	Mar. 4	By -			34,000
Mar. 12	To -		3,000	3,000	Mar. 7	By Purchases A/c		-
Mar. 16	To Interest A/c			14,000	Mar. 8	By -			12,000
Mar. 20	To -		42,000		Mar. 9	By Drawings A/c			-
Mar. 26	To Cheque in Hand A/c (Mona & Co.)			35,700	Mar. 22	By Salaries A/c		40,000
					Mar. 31	By Balance c/d		-	1,44,200
			2,65,000	1,92,700				2,65,000	1,92,700

From the following transactions, prepare Cash Book with Cash and Bank columns:

Date	Particulars
Feb. 1	Cash-in-hand Rs 7,500, Cash-at-bank Rs 8,000
Feb. 3	Discount a bill receivable for Rs 6,000 at 2% through Bank
Feb. 5	Bought goods for Rs 2,000 and paid by cheque
Feb. 15	Paid Trade expenses Rs .120
Feb. 16	Drew from Bank for office use Rs 1,000
Feb. 17	Sold goods for Rs 12,500 and received a cheque
Feb. 25	Paid Insurance Rs 100
Feb. 27	Cheque received on 17th deposited in Bank
Feb. 28	Received a cheque from John & Co. Rs 6,000
Feb. 28	Purchased 100 NSC for Rs 100 at Rs 95 each and paid by cheque.

Generic 3

3 x 3 = 9

What do you understand by ledger folio?

10.

Briefly state how the cash book is both journal and a ledger.

11.

Give the Proforma of a Bills Receivable Book.

True or False

5 x 1 = 5

12.

Contra entries in the double column Cash Book are not posted into ledger

(a)

False

(b)

True

13.

Imprest system is applied for head cashier.

(a)

True

(b)

False

14.

The bank column of Cash Book has sometimes a credit balance.

(a)

False

(b)

True

15.

The bank column of cash book has sometimes a credit balance.

(a)

False

(b)

True

16.

The cash column of cash book has always a debit

(a)

False

(b)

True

Multiple Choice Question

4 x 1 = 4

17.

Balancing of account means:

(a)

Total of debit side

(b)

Total of credit side

(c)

Difference in total of debit & credit

(d)

None of these

18.

The periodic total of purchases return journal is posted to:

(a)

Purchase account

(b)

Profit and loss account

(c)

Purchase returns account

(d)

Furniture account

19.

Credit balance of bank account in cash book shows:

(a)

Overdraft

(b)

Cash deposited in our bank

(c)

Cash withdrawn from bank

(d)

None of these

20.

When a firm maintains a cash book, it need not maintain:

(a)

Journal Proper

(b)

Purchases (journal) book

(c)

Bank and cash account in the ledger

Fill up / 1 Marks

6 x 1 = 6

21.

In purchase book goods purchased on ______________ are recorded.

22.

The amount paid to the petty cashier at the beginning of a period is known as ________________ amount.

23.

Credit balance show by a bank column in cash book is ______________

24.

Double column cash book records transaction relating to _____________ and _____________

25.

Return of goods purchased on credit to the suppliers will be entered in _____________ Journal.

26.

Cash book is a _____________ journal.

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Answers Key:

1 Marks

4 x 1 = 4

()
Cash discount is allowed to receive timely payments timely

()
A contra entry is an entry which is recorded on the both sides of Cash Book

()
Simple or single column Cash Book means a Cash Book which has only one amount column on each side for cash, transactions.

()
The left side of the Cash Book shows the receipts of cash.

Generic 4

1 x 4 = 4

Petty cash book is considered as a memorandum book. The petty expenses are not directly posted to ledger accounts. A petty cash account is maintained in the ledger. When petty cash is advanced to the petty cashier, the main cashier will record it on the credit side of the Cash Book "By Petty Cash Nc". At the end of specified period, for the total expenses paid, a journal entry shall be passed by debiting to individual petty expenses and crediting to Petty Cash Account. All the accounts relating to petty expenses shall be opened in the ledger individually. Posting will be made on the debit side of these accounts by writing "To Petty Cash A/c".

Generic 6

3 x 6 = 18

Dr. Cash Book Cr.
Date	Particulars	J.F.	Cash	Bank	Date	Particular	Cash	Bank
2014					2014
Dec. 01	To Balance b/d		7,560	7560	Dec. 06	By Purchase A/c	-	6,000
Dec. 03	To Sales A/c		2,300	-	Dec. 12	By Trade Exp. A/c	700
Dec. 08	To Sales A/c		10,000	-	Dec. 18	By Motor Car A/c		15,000
Dec. 15	To Sales A/c		-	20,000	Dec. 23	By Bank A/c	10,000	-
Dec. 20	To Manisha		10,000	-	Dec. 25	By Manisha		10,000
Dec. 22	To Sales A/c		7,000	-	Dec. 28	By Rent A/c	2,000	-
Dec. 23	To Cash A/c	C	-	10,000	Dec. 29	By Tel. Exp. A/c	-	500
					Dec. 31	By Drawings A/c	2,000	-
					Dec. 31	By Balance c/d	15,954	6,660
			30,654	37,560			30,654	37,560
Jan. 01	To Balance b/d		15,954	6,060

Dr. In the Books of Pushpanjali Double Column Cash Book Cr.
Date	Particular	L.F.	Cash (Rs)	Bank (Rs)	Date	Particular	L.F.	Cash (Rs)	Bank (Rs)
2017					2017
Mar. 1	To Balance b/d		2,20,000	60,000	Mar. 3	By Bank A/c	(C)	80,000
Mar. 3	To Cash A/c	(C)		80,000	Mar. 4	By Purchase A/c			34,000
Mar. 12	To Ved		3,000	3,000	Mar. 7	By Purchases A/c		16,000
Mar. 16	To Interest A/c			14,000	Mar. 8	By Commission A/c			12,000
Mar. 20	To Sales A/c		42,000		Mar. 9	By Drawings A/c			2,500
Mar. 26	To Cheque in Hand A/c (Mona & Co.)			35,700	Mar. 22	By Salaries A/c		40,000
					Mar. 31	By Balance c/d		1,29,000	1,44,200
			2,65,000	1,92,700				2,65,000	1,92,700

In the Books of ---
Dr. Cash Book Cr.
Date	Particulars	L.F	Cash (Rs)	Bank (Rs)	Date	Particulars	L.F.	Cash (Rs)	Bank (Rs)
Feb. 1	To Balance b/d		7,500	8,000	Feb. 5	By Purchase A/c			2,000
Feb. 3	ToBills Receivable A/c			5,880	Feb. 15	By Trade Expense		120
Feb. 16	To Bank A/c	C	1,000		Feb. 16	By Cash A/c	C		1,000
Feb. 27	To Sales A/c			12,500	Feb. 25	By Insurance A/c		100
Feb. 28	To John & Co.			6,000	Feb. 28	By Investment (NSC) A/c			9,500
					Feb. 28	By Balance c/d		8,280	19,880
			8500	32,380				8,500	32,380

Generic 3

3 x 3 = 9

Meaning of Ledger Folio (L.F.) : All entries from the Journal are later posted into the ledger accounts. The page number or folio number of the ledger account where the posting has been made from the journal is recorded in the L. F. column of the journal. Suppose, a machine is purchased and posted at page No. 60 of the ledger, in the column of L. F. the number of page i.e. 60 should written.

10.

All cash transactions, for the first time are recorded in the cash book and there after directly transferred in ledger accounts, Thus it is a book of original entry or a subsidiary book. A cash book represent cash account also. As cash balance from cash book is directly transferred to trial balance. Hence it in treated as a principal book of accounts. The cash book is thus, both a subsidiary book and a principal book.

11.