Question

opened bank current account entry in double column cash book

Answer 1

To cash(in bank column)

By bank(in cash column)

Answer 2

Opened bank current account entry in double column cash book

• The bank column on the debit side and the cash column on the credit side are where the deposit amount is listed. The cash column on the debit side and the bank column on the credit side both contain the amount that was withdrawn. Important: Only when cash is withdrawn for business purposes is a contra entry recorded.
• The two column cash book contains a record of all cash and bank transactions. The two column cash book does not capture credit transactions. A. Create the relevant ledger accounts and balance them using the following cash book (which includes cash and bank columns).
• Cash is leaving the company in this instance, so the Cash account will be credited when the journal item is passed in accordance with the requirements. It's a capital investment, and the journal entry was made with a current account.
• The bank account's debit side displays the opening balance.
• The amount of money in a company's account at the start of a new financial period is known as the opening balance. It is the first entry made into the accounts, either when a corporation opens its books for the first time or following year-end.
• The amount of money in a company's account at the start of a new financial period is known as the opening balance. It is the first entry made into the accounts, either when a corporation opens its books for the first time or following year-end.

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