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Simple cash boook - class-XI

Description: simple cash boook
Number of Questions: 18
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Tags: cash book and its types recording and posting of cash transactions accountancy cash book and bank related transactions accounts from incomplete records subsidiary books - 2 sub-division of journal - 1 (cash book) elements of book keeping and accountancy recording of transactions - ii cash book accounting for incomplete records elements of accounts recording of business transactions
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Favourable balance as per cash book means __________.

elements of book keeping and accountancy recording and posting of cash transactions understand the method of recording cash transactions simple cash boook meaning, features and types of cash book

  1. debit balance in the bank column of the cash book

  2. debit balance in the pass book

  3. credit balance in the bank column in the cash book

  4. none of the above

Show answer
Correct Option: A

The balance of the Cash Column is _____________.

elements of book keeping and accountancy recording and posting of cash transactions understand the method of recording cash transactions simple cash boook meaning, features and types of cash book

  1. Always Debit

  2. Always Credit

  3. Either Debit or Credit

  4. Neither Debit nor Credit

Show answer
Correct Option: A

Under sales on returned or approval basis, when transactions are few, the seller, while sending the goods, treats them as

elements of book keeping and accountancy recording and posting of cash transactions understand the method of recording cash transactions simple cash boook meaning, features and types of cash book

  1. an ordinary sale but no entry is passed in the books

  2. an ordinary sale and entry for normal sale is passed in the books

  3. Approval sale and no entry is passed

  4. None of these

Show answer
Correct Option: B

Rent for the month of May received in advance in the month of April will appear on__________________.

elements of book keeping and accountancy recording and posting of cash transactions understand the method of recording cash transactions simple cash boook meaning, features and types of cash book

  1. payment side (credit) of cash book

  2. receipt side (debit) cash book

  3. No entry

  4. prepaid rent a/c

Show answer
Correct Option: B

____________recorded in cash book.

elements of book keeping and accountancy recording and posting of cash transactions understand the method of recording cash transactions simple cash boook meaning, features and types of cash book

  1. Rs. 5000 received from Rahul

  2. Rs. 6500 paid to Gopal

  3. Loan of Rs. 51000 taken from Bank

  4. All of three

Show answer
Correct Option: D

Rent for the month of April paid in advance in the month of March will be shown_____.

elements of book keeping and accountancy recording and posting of cash transactions understand the method of recording cash transactions simple cash boook meaning, features and types of cash book

  1. payment side (credit) of cash book

  2. receipt (debit) side of cash book

  3. no entry

  4. trial balance

Show answer
Correct Option: A

Which of these will not be recorded in cash book/account?

elements of book keeping and accountancy recording and posting of cash transactions understand the method of recording cash transactions simple cash boook meaning, features and types of cash book

  1. Two months rent of Rs. 5000 paid in advance

  2. One year insurance premium Rs.9000 paid in advance

  3. Goods purchased on 3 months credit

  4. Goods worth Rs. 5900 sold cash

Show answer
Correct Option: C

Cash A/c is a ________.

elements of book keeping and accountancy recording and posting of cash transactions understand the method of recording cash transactions simple cash boook meaning, features and types of cash book

  1. Nominal A/c

  2. Real A/c

  3. Personal A/c

  4. Fictitious A/c

Show answer
Correct Option: B
Explanation:

An account is a list of business transactions falling under the same description for a given period of time. 

A systematic and summarized record of business  transactions with respect to person, property, loss, gain, income, expense is known as account. An account is generally prepared for one complete year. All accounts other than personal accounts are known as impersonal accounts. 
For instance, Cash A/c, Rent A/c, Wages A/c, Furniture A/c are impersonal accounts. Impersonal accounts are classified as Real A/c and Nominal A/c. An account or property or anything owned and possessed by a business is called Real A/c. In other words, real account is that account which related to assets, objects etc. of the business. 

This account consists assets, and properties which can be seen, touched, measured, purchased ans sold. Cash A/c is a Real A/c as it relates to the property of the business.

_________ is shown in trial balance.

elements of book keeping and accountancy recording and posting of cash transactions understand the method of recording cash transactions simple cash boook meaning, features and types of cash book

  1. Balance as per cash book

  2. As per book pass book

  3. As certified by St. Auditor

  4. As per bank statement

Show answer
Correct Option: A
Explanation:

The business firm prepares a trial balance on the basis of the balances shown in its books of accounts. The balance as shown in bank pass book and as shown in the Bank column of cash book may differ due to time differences. 

Also, the balance as certified by statutory auditor is not the actual balance of the cash. A bank statement is also not an account and is prepared by the bank.
The balance as shown in the Cash book is actually arrived at by the means of double entry system in the books. Thus, we show the balance as per Cash book in the trial balance.
Hence, the correct option is A.

Cheques received but not banked is generally shown in__________column of Cash Book.

elements of book keeping and accountancy recording and posting of cash transactions understand the method of recording cash transactions simple cash boook meaning, features and types of cash book

  1. Cash

  2. Discount

  3. Bank

  4. None

Show answer
Correct Option: A

The balance of petty cash is ____________.

elements of book keeping and accountancy recording and posting of cash transactions understand the method of recording cash transactions simple cash boook meaning, features and types of cash book

  1. An expense

  2. Revenue

  3. An asset

  4. Liability

Show answer
Correct Option: C

Rent outstanding for the month of February will appear_________.

elements of accounts subsidiary books - 2 understand the method of recording cash transactions simple cash boook recording and posting of cash transactions

  1. on the debit side of the cash book

  2. on the credit side of the cash book

  3. as a contra entry in the cash book

  4. no entry in the cash book

Show answer
Correct Option: D

Withdrawl column of the Pass Book showed a wrong entry of Rs. 112. When the balance as per Cash Book is the starting point __________.

elements of accounts subsidiary books - 2 understand the method of recording cash transactions simple cash boook recording and posting of cash transactions

  1. Rs. 112 to be added

  2. Rs. 112 to be subtracted

  3. No adjustment in required

  4. None of these

Show answer
Correct Option: B

A debit balance of Rs. 1,000 has been brought forward as a credit balance of Rs. 100 on the next page in the Pass Book. To ascertain the balance as per Cash Book _______________________.

elements of accounts subsidiary books - 2 understand the method of recording cash transactions simple cash boook recording and posting of cash transactions

  1. Rs. 900 should be added to the balance as per Cash Book.

  2. Rs. 900 should be subtracted from the balance as per Pass Book

  3. Rs. 1,100 should be added to the balance as per Pass Book

  4. None of the above.

Show answer
Correct Option: D

One outgoing cheque of Rs. 112 recorded as Rs. 121 in the Cash Book. (Note: This cheque was presented in the Bank). When the balance as per Cash Book is the starting point.

elements of accounts subsidiary books - 2 understand the method of recording cash transactions simple cash boook recording and posting of cash transactions

  1. Rs. 112 to be subtracted

  2. Rs. 121 to be subtracted

  3. Rs. 9 to be added

  4. Rs. 112 to be added

Show answer
Correct Option: C

Debit balance in cash book means __________.

elements of accounts subsidiary books - 2 understand the method of recording cash transactions simple cash boook recording and posting of cash transactions

  1. Overdraft as per pass book

  2. Overdraft as per cash book

  3. Credit balance as per pass book

  4. Debit balance as per day book

Show answer
Correct Option: C
Explanation:

The debit balance as per the cash book means the balance of deposits held at the bank. Such a balance will be a credit balance as per the passbook. Such a balance exists when the deposits made by the firm are more than its withdrawals.

Cash paid to Creditors needed for the construction of cash account can be ascertained from __________________ .

elements of accounts subsidiary books - 2 understand the method of recording cash transactions simple cash boook recording and posting of cash transactions

  1. Total creditors account

  2. Trading account

  3. Profit and loss account

  4. None of the above

Show answer
Correct Option: A
Explanation:

Single-entry accounting is a form of bookkeeping and accounting in which each financial transaction is a single entry in a journal or transaction log. As a result, the accounting system is called, not surprisingly, a single-entry system. And, the approach is also known as single-entry bookkeeping.

In single-entry bookkeeping informations related to accounts are incomplete.
In the given question if the amount of cash paid to creditors needed for the construction of cash account is not given or not available, it can be ascertained from total creditors account.

The amount listed for cash in the trial balance represents __________________.

elements of accounts subsidiary books - 2 understand the method of recording cash transactions simple cash boook recording and posting of cash transactions

  1. The cash at the beginning of the period.

  2. Cash receipts during the period.

  3. Cash receipts minus disbursements during the period.

  4. The balance of cash on the date of trial balance.

Show answer
Correct Option: D
Explanation:

A Trial Balance is a statement that states the closing balances of all the accounts at the end of the accounting period. Thus, similar to all the other accounts, the closing balance of cash and bank only appears in the Trial Balance.

Thus, the correct option is D.

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