CASH BOOK MCQ PROJECT

• A business makes cash sales 5,000. They offer a 2% Cash discount if the customer pays within a week. The customer takes advantage of this discount and pays accordingly

• discount allowed = 100

  cash received = 4900

• discount received = 100

  cash received = 4900

• discount allowed = 300

  cash received = 4700

• discount received = 300

  cash received = 4700

A cheque received from a debtor for ₹10,000 was recorded in the Bank column but was then endorsed to a supplier to settle a liability. How should this transaction be treated in the Cash Book?

• Credit the Bank column and debit the Cash column by ₹10,000

• Debit the Bank column and credit the Supplier's account by ₹10,000

• Credit the Bank column and debit the Supplier's account by ₹10,000

• Debit the Discount allowed column and credit the Cash column by ₹10,000
  

A payment of ₹15,000 was made to a supplier, but it was mistakenly recorded in the Cash column instead of the Bank column. How should this error be corrected in the Cash Book?

• Debit the Cash column and credit the Bank column by ₹15,000

• Credit the Cash column and debit the Supplier's account by ₹15,000

• Debit the Bank column and credit the Cash column by ₹15,000

• Credit the Supplier's account and debit the Cash column by ₹15,000

A business receives a payment of ₹8,000 from a creditor, which is recorded in the Cash Book. However, the payment was made via bank transfer. What is the correct entry in the Cash Book?

• Debit the Cash column and credit the Bank column by ₹8,000

• debit the Bank column by ₹8,000

• Credit the Bank column by 8000

• Credit the Bank column and debit the Customer's account by ₹8,000

A client bought goods worth 5000. We gave him 100 rupees cash discount and 100 rupees trade discount. He paid by cheque .Give the correct cash book entry.

• Bank column Dr. = 4800

  discount allowed column = 200

• Bank column Dr. = 4800

  Discount allowed column = 100

• Bank column Cr. = 4800

  Discount received column = 200

• Bank Account Dr 4800 Cash Discount Account Dr. 100, Trade Discount Account Dr. 100

Bought goods from Rajik 10000

• Cash column debit 10000

• Bank column debit 10000

• Cash column debit 5000 and bank column debit 5000

• No entry

Another name for the debit side of a cashbook is __:

• Receipts side

• Payments side

• Income side

• Expense side

The total of the discount column on the debit side of a cashbook is posted to the

• 
  Credit side of the discount received account in the ledger

• Credit side of the discount allowed account in the ledger

• Debit side of the discount received account in the ledger

• Debit side of the discount allowed account in the ledger

What is signified when credit side is more than debit side in cash book.

• A negative cash balance.
• A positive cash balance.
• No cash balance at all.
• An error in the cash book.

Suman handed us a cheque of rupees 2000 on Jan 19, 2020 which was deposited 10 days later. What was the entry to be done on Jan 19, 2020.

• Cash column debit 2000

• Bank column debit 2000

• Bank column debit 2000, cash column credit 2000 ( Contra entry)

• No entry passed