Q. 21. Enter the following transactions in a Cash Book with Cash and Columns 2017 March 1 Cash in Hand 15,000; Bank 8,000. - 2 Sold goods to X on credit for 10,000. 5 Sold goods for $20,000; received cheque from them, discount allowed 24 %. Cheque was deposited into bank on 7th March. 10 Purchased goods from Suresh on the terms of 5% Cash discount if the paymen is made within 3 days 20,000. 12 Payment made to Suresh; half in Cash and half by cheque. 14 Received a Bank Draft for 76,820 from Siya Ram in full settlement of 7,000 due from him. Sent the draft to the Bank. 16 Settled Pawan's account of 5,000 at a discount of 5%. 17 Goods worth 8,000 were purchased from Sunil on 5th March. Its payment made today by cheque after deducting 5% cash discount. 18 Withdrawn from Bank 320,000 and Furniture was purchased for 15,000; the balance taken by the proprietor. 20 Received a cheque from Ravi for 2,850 in settlement after deducting 5%. Endorsed the cheque to Gopal on 22nd March. 22 Placed an order with 'Jai Traders' for goods of the value of 10,000 and sent a cheque of 8,000 with the order. 23 Purchased furniture by cheque of 6,000. 24 Cash sales 15,000; half of which deposited into bank. 25 X settled his account by payment of 10,150; 150 being the interest charged. 27 Paid rent to Landlord 'Rakesh' by cheque 2,000. 28 Cashed a cheque for 10,000 and paid salaries in cash 8,000. 31 Deposited into bank, balance of cash in excess of 5,000.
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Book of Original Entry
Books of original entry include various accounting periodical entries. The economic activities are often briefed and noted down in a general ledger.
The purpose of this topic is to create an idea about the usage of the book of entry in commercial establishments for students of class 11, providing the highest quality of solution and detailed theoretical concepts.
They assist in reducing numerical and calculative mistakes, which might be a possibility in a ledger entry.
They contain accurate details, transactional narratives, and history for an inbound and outbound commercial establishment.
They can also be called as journals, subsidiary records, cash receipts, payment records of cash.
A book of original entry is defined as an accounting record or periodical entries, in which business economic proceedings are kept.
The Primary Purpose of maintaining periodical entries is to give authenticity, accuracy, and affirmation to business and monetary transactions in that particular commercial establishment.
Books of original entry cash book class 11 solutions have provided various illustrations and explanations to brief students on this particular concept
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