Learning
Objectives:
I am learning about
Cash Book as one of the books of account; its use and practical bookkeeping
application.
Lesson Outlines:
1. Meaning & Description
2. Cash Book Format
3. Practical Application
Meaning &
Description
Cash Book otherwise
called Cash Journal is one of the subsidiary books, used for recording all cash
transaction in business.
Cash Book is of dual
purposes: It is used as a Journal as well as a Ledger Account. As a Journal, it
is called Cash Book/Journal; as a Ledger, it is called Cash Account.
Every transaction in
business that involves immediate cash flows must be recorded in the Cash Book.
Cash Book Format
Cash Book
Dr. Cr.
|
Date
|
Particulars
|
Folio
|
Amount
|
Date
|
Particulars
|
Folio
|
Amount
|
|
|
|
|
|
|
|
|
|
Illustration 1
Enter the following g
transactions in the Cash Book of Divine-Favour Ventures for the month of May
2018: N
May 1: Started
business with cash 8400
May 4: Bought goods
for cash 2150
May 6: Paid for wages 1000
May 9: Sold goods for
cash 3820
May 12: Purchased
goods by cash 1650
May 19: Received cash
from Destiny 910
May 20: Sold goods
for cash 2240
May 28: Paid Olivia
by cash 700
May 30: Paid rent for
cash 1600
Divine-Favour Cash Book May 2018
Dr.
Cr.
|
Date
|
Particulars
|
Folio
|
Amount
|
Date
|
Particulars
|
Folio
|
Amount
|
|
May 1
|
Capital
|
GL1
|
8400
|
May 4
|
Purchases
|
GL2
|
2150
|
|
May 9
|
Sales
|
GL4
|
3820
|
May 6
|
Wages
|
GL3
|
1000
|
|
May 19
|
Destiny
|
PL1
|
910
|
May 12
|
Purchases
|
GL2
|
1650
|
|
May 20
|
Sales
|
GL4
|
2240
|
May 28
|
Olivia
|
PL2
|
700
|
|
|
|
|
|
May 30
|
Rent
|
GL5
|
1600
|
|
|
|
|
|
May 31
|
Balance
|
c/d
|
8270
|
|
|
|
|
15370
|
|
|
|
15370
|
|
June 1
|
Balance
|
b/d
|
8270
|
|
|
|
|
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