WorksheetsS1 Chapter 7 - Cash Book
Total questions: 15
Worksheet time: 8mins
Cash book records _____ receipts and payments.
Cash book is a form of:
Trial Balance
Ledger
Journal
All of the above
What will be journal entry when cash is withdrawn from bank for personal use?
Dr Drawings, Cr Bank
Dr Cash, Cr Bank
Dr Bank, Cr Drawings
Dr Bank, Cr Capital
If the debit and credit aspects of a transaction are recorded in the cash Book, it is a:
Contra entry
Simple entry
Double entry
Single entry
In three column cash book, when does contra entry occurs?
withdrawal of cash from bank
payment to creditors
withdrawal of cash from bank for personal use
all of the above
The balance on the credit side of the bank column in cash book indicates
total amount withdrawn from the bank
total amount deposited in the bank
cash at bank
bank overdraft
The balance of cash column of cash book never shows a:
credit balance
debit balance
none of the above
all of the above
The “C” in the folio columns of Cash Book means __________.
creditor’s account has been settled
cash being withdrawn for own use
customer’s account is in “Contra”
cash being deposited into bank
A person bought a television set a list price RM2,000 on credit. Trade discount was 10% and cash discount 5%. He settled his debt within the discount period. Which of the following entries in his book is correct?
Credit: Cash RM 1,800
Credit: Cash RM 1,710
Debit: Accounts Receivable RM 1,800
Debit: Accounts Receivable RM 1,710
Discount gained from supplier for the prompt payments is known as _________.
Discount Received
Discount Allowed
Trade Discount
Cash Discount
A debit balance of RM100 in a Cash Account shows that
There was RM100 cash in hand
Cash has been overspent by RM100
RM100 was the total of cash paid out
The total of cash received was less than RM100
A credit balance of RM200 on the cash columns of the Cash Book would mean
we have spent RM200 more than we have received
we have RM200 cash in hand
the bookkeeper has made a mistake
someone has stolen RM200 cash
A cash discount is best described as a reduction in the sum to be paid
if payment is made within a previously agreed period
if payment is made by cash, not cheque
if payment is made either by cash or cheque
if purchases are made for cash, not on credit
The total of the ‘Discount Allowed’ column in the Cash Book is posted to
the debit of the Discount Allowed Account
the debit of the Discount Received Account
the credit of the Discount Allowed Account
the credit of the Discount Received Account
While balancing three column cash book, the discount column are:
totalled but not adjusted
totalled and also adjusted
totalled but not balanced
balanced but not totalled
