How to prepare a single column cash book?

Let us understand how to make the respective entries in the single column cash book with the help of the given data.

May 1 Cash in hand $50000

May 1 Bank balance $160000

May 4 Received a cheque from a customer “A” of $18000

May 5 Deposited customer “A” cheque in Bank.

May 8 Cash withdrawn from bank for business purpose is $15000

May 11 Goods sold for cash $28000

May 14 Goods bought for cash $53000

May 19 Goods sold for cash $40000

May 21 Paid Mr.B by cheque $16000

May 25 Deposited into bank $18000

May 30 Paid salary in cash $12000

May 31 Paid rent by cheque $7500

Solution

The solution is as follows −

DATE	PARTICULARS	$	DATE	PARTICULARS	$
2008	Balance b/d	50000	2005
May 4	Customer(Being cheque A/c received)	18000	May 5	Bank A/c(Being cheque deposited)	18000
May 8	Bank A/c(Being amount withdrawn)	15000	May 14	Purchases(Being goods bought for cash)	53000
May 11	Sales A/C(Being goods sold for cash)	28000	May 25	Bank A/c (Being cash deposited)	18000
May 19	Sales A/c(Being goods sold for cash)	40000	May 30	Salary A/c(Being salary paid)	12000
			May 31	Balance c/d	50000
		151000			151000
June 1	Balance b/d	50000

Updated on 09-Jul-2021 08:11:52

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