Question

12. The basis format of Ledger would not
include
(2 Points)
date column
Brief explanation
debit column
Journal Folio

Answer 1

Answer:

• A cash book is a subsidiary of the general ledger in which all cash transactions during a period are recorded.
• The cash book is recorded in chronological order, and the balance is updated and verified on a continuous basis.
• Larger organizations usually divide the cash book into two parts: the cash disbursement journal and the cash receipts journal.
• A cash book differs from a cash account in that it is a separate ledger in which cash transactions are recorded, whereas a cash account is an account within a general ledger.
• There are three common types of cash books: single column, double column, and triple column.