Petty Cash Book

Petty Cash Book: Definition A petty cash book is maintained to record small expenses such as postage, stationery, and telegrams. A separate column is used for each type of expenditure. The difference between the sum of the debit items and the sum of the credit items represents the balance of the petty cash in hand. A petty cash book also refers to the book in which small payments are recorded, whi…

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Cash Book

Cash Book: Definition A cash book is a subsidiary book in which both cash and bank transactions are maintained. A cash book is both a journal and a ledger. Cash Book: Explanation Both cash receipts and cash payments are recorded in a cash book. The cash book is also regularly reconciled with the bank statements as an internal auditing measure. Cash books are important because their proper maintena…

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Single Column Cash Book

What Is a Single Column Cash Book? The single column cash book resembles a T-shaped cash account in almost all respects. The pages of this book are vertically divided into two equal parts. The receipts are entered on the left (debit) side. Payments are entered on the right (credit) side. A single column cash book has only one money column on the debit and credit sides to record cash transactions….

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Double Column Cash Book

A double column cash book, also known as a two column cash book, consists of two columns on each side to record cash and bank transactions. Rather than separating cash and bank accounts, a double column cash book enables accountants to maintain the two accounts side by side. This allows for greater convenience when recording transactions. In particular, we can quickly see overall balances. Simply…

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Three Column Cash Book

What is a Three Column Cash Book? A cash book with three columns for discounts received and paid, cash transactions, and bank transactions is known as a three column cash book. Explanation A three column cash book, also known as a triple column cash book, contains three money columns on both the debit and credit sides: one on each side for recording discount, cash, and bank amounts. If a business…

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Cash Book MCQs

Take this quick test on the cash book to help you prepare for your exams and interviews. If you find it difficult to answer any of these multiple choice questions (MCQs), read more about the cash book first and complete the MCQ test afterward. Time limit: 0 Quiz-summary 0 of 10 questions completed Questions: 1 2 3 4 5 6 7 8 9 10 Information Cash Book MCQs quiz You have already completed the quiz b…

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Cash Book: Fill In the Blanks

1. In three-column cash books, receipts are entered on the side and payments on the side. See answer 2. The objective of maintaining a cash book is to record all and . See answer 3. In a double-column cash book, discount is not recorded. See answer 4. In a cash book, discounts allowed are recorded on the and discounts received are recorded on the . See answer 5. If any entry is made on the debit s…

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