Question

record the following transaction in double column cash book 2020 jan 1 ) cash in hand rs 12400 jan 1) bank overdraft rs 1400 jan 3) deposited into bank rs 3000 jan 5)received cheque from sharma rs 5400 jan 6) deposited sharma cheque into bank jan 31) bank charges rs 65
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Answer 1

Explanation:

in above picture u got the solution

Answer 2

Answer:

Cash balance: 9,400 ; Bank balance: 8,400

Explanation:

Jan 1: Cash in hand will be debited as (To balance b/d): 12,400 (in cash column)

Jan 1: Bank overdraft will be credited as (By bank overdraft): 1,400 (in bank column)

Jan 3: Deposited into bank (it is a contra entry it will be debited as well as credited too as; To cash A/c : 3000 and By bank A/c 3000) [Note: to cash a/c amt will be entered in bank column and by bank a/c amt will be entered in cash column.]

Jan 10: Deposited to sharma cheque into bank will be debited as (To cheque-in-hand a/c): 5,400 (in bank column)

Jan 31: Bank charges will be credited as ( By bank charges): 65 (in bank column).