Double Column Cash Book (Cash and Discount Column)| Books of Accounts|Accountancy XI |CA Foundation|

In this video I have explained the procedure of preparing Double column cash book with Cash and Discount Column.

Question solved in the video:

Make out Double Column cash book for Mr, A's Cash transactions for the month of January:
Jan,1: Mr.A has 4,000 cash in hand.
Jan,1: Drew from bank for office use Rs. 8,000.
Jan,1: Paid wages Rs. 3,200.
Jan,1: Paid rent Rs. 2,100.
Jan,1: Received from Jatin Rs. 3,100 and discount allowed to him Rs.100.
Jan,2: Cash sales Rs. 5,000.
Jan,2: Paid into bank Rs. 2,000.
Jan,3: Paid to Bhushan Kumar Rs. 3,350 in full settlement for Rs. 3,500.
Jan,4: Purchased Goods for cash Rs. 400.
Jan,4: Paid for stationery Rs. 250.
Jan,4: Purchased Machinery for Rs. 3,000.
Jan,5: Received from Rastogi against a debt previously written off Rs. 6,500.
Jan,6: Paid Travelling expenses Rs. 2,200.
Jan,6: Received from Raj Rs. 3,800 in full settlement for Rs. 4,000.

PRACTICE QUESTION 1:
01/04/17 Started a business with cash Rs 50,000/-
04/04/17 Goods purchase worth Rs 10,000/- and payment made immediately get discount Rs 100/-
07/04/17 Rent paid for the building Rs 1,000/-
09/04/17 Wages paid for Rs 2,500/-
11/04/17 Sold goods worth Rs 5,000/- and to receive payment immediately allow discount Rs 100/-
12/04/17 Purchase goods from Ram & sons Rs 4,000/-
14/04/17 Commission paid to Rohan Rs 100/-
15/04/17 Payment received from Ram & sons Rs 3,950 and Allowed discount of Rs 50/-
16/04/17 Labour charges paid for Rs 250/-
18/04/17 Furniture purchase for Rs 2,500/-
21/04/17 Sold goods worth Rs 2,500/- to Ramesh.
23/04/17 Payment made to Ramesh Rs 2,450 and received the discount of Rs. 50/-
25/04/17 Freight paid to Rs 300/-.
29/04/17 An owner withdraw cash from the business for personal use Rs1,000.

Answer: 38,850.

PRACTICE QUESTION 2 :
Enter the following transactions in a cash book with cash and discount columns:

2017

Jan 1 Cash in hand 11,500

Jan 5 Paid to Ramanathan by depositing in cash deposit machine Rs.300 and Discount allowed by him Rs.10

Jan 8 Purchased goods for cash Rs.400

Jan 10 Cash received from Rajagopal Rs.980 and Discount allowed Rs.20

Jan 15 Sold goods for cash Rs.400

Jan 21 Paid cash to Shanthi Rs.295
Discount received Rs.5

Jan 25 Paid wages by cash Rs. 50

Jan 31 Paid to Sanjeev Rs. 390 in full settlement of his account   Rs.400

Answer: 11,445 (Dr.)
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