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Entries into the Cash Book

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Entries into the Cash Book

Cash book entries. Image credit mexperience.com

Cash book entries. Image credit mexperience.com

ZIMSEC O Level Principles of Accounts Notes: The Cash Book:Entries into the Cash Book

  • We will now look at the following example:

Write up a two-column cash book for a S Munodei’s Furniture Shop from the following details, and
balance it off as at the end of the month:

20X9
July 1 Started in business with capital in cash $1,000.
2 Paid rent by cash $230.
3 G Banda lent us $2,000, paid by cheque.
4 We paid J Dengu by cheque $860.
5 Cash sales $190.
7 F Rize paid us by cheque $34.
9 We paid A Muromo in cash $92.
11 Cash sales paid direct into the bank $151.
15 P Hove paid us in cash $96.
16 We took $100 out of the cash till and paid it into the bank account.
19 We repaid R Roro $500 by cheque.
22 Cash sales paid direct into the bank $122.
26 Paid motor expenses by cheque $75.
30 Withdrew $200 cash from the bank for business use.
31 Paid wages in cash $320.

Solution

   Cash Book    
DateDetailsCashBankDateDetailsCashBank
July 1Capital1000July 2Rent230
3G Banda: Loan20004J Dengu860
5Sales1909A Muromo92
7F Rize3416Bank100
11Sales15119R Roro: Loan500
15P Hove9626Motor Expenses75
16Cash10030Cash200
22Sales12231Wages320
30Bank20031Balance c/d744722

1486

2407

1486

2407

NB You are not being asked to draw up the other corresponding accounts so do not waste your time doing so.

To access more topics go to the Principles of Accounts Notes.

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By | 2017-01-17T11:14:35+00:00 March 13th, 2016|Notes, Ordinary Level Notes, Principles of Accounts Notes|0 Comments

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He holds an Honours in Accountancy degree from the University of Zimbabwe. He is passionate about technology and its practical application in today's world.

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