Cash Book -three column cash book practice The following problem will help you to understand that how to maintain record in Three column cash book. The cash book is very widely use in every business, it is important to understand that how it is maintained in business concerns.
Three column Cash Book Problems PDF Download. Problem 1: On April 1, 2017, Hassan Sajjad Store Cash Book showed debit balances of Cash Rs. 1,550 and Bank Rs. 13,575.
Hints for recording in three/triple column cash book. Remember the following points while recording entries in a three column cash book: (1). Opening balance: The opening balance of cash in hand and cash at bank are recorded on the debit side in cash and bank column respectively. If the bank balance is a credit balance (overdraft) then it is entered on the credit side in the bank column.
A three column cash book or treble column cash book is one in which there are three columns on each side – debit and credit side. One is used to record cash transactions, the second is used to record bank transactions and third is used to record discount received and paid.
Three Column Cash Book Questions And Answers three column cash book is a book where company maintain the records of cash and bank transactions. it contain of 3 column cash, bank and discount. Answers were Sorted based on User's Feedback. Answer # 1, three colomn cash book means it includes 3 columns such as bank,cash and discount.generally.
Treble/Three Column Cash Book: Definition and Explanation: We know, when cash is received from the debtors, discount may be allowed to them. And when cash is paid to creditors, discount may be received from them. It means the cash and the discount are very much related to each other.
Two/Double Column Cash Book: Definition and Explanation: Cash A/c and Bank A/c are two busiest accounts in ledger and they are removed from the ledger to reduce its volume and size. Cash A/c is removed from the ledger and instead of it the Single Column Cash Book is kept to record cash transactions. In the same way no Bank A/c is opened in ledger for recording bank transactions, rather an ...
A triple column cash book or three column Cash Book is one which consists of three separate columns on the debit side as well as credit side for recording cash, bank and discount. The discount column on the debit side of the cash book will record discounts allowed and that on the credit side discounts received.
The triple column cash book (also referred to as three column cash book) is the most exhaustive form of cash book which has three money columns on both receipt (Dr) and payment (Cr) sides to record transactions involving cash, bank and discounts. A triple column cash book is usually maintained by large firms which make […]
Three-column Cash Books and Discounts . Cash Discounts for quick payment . It is better for the firm if as customer pays their account quickly. Many companies will offer a discount to their debtors if they pay quickly. The term 'Cash Discount' refers to the allowance given for quick payment.