Mr. Usman uses three column cash book for his business On March 1, 2016. he had

Question

Mr. Usman uses three column cash book for his business On March 1, 2016. he had cash in hand Rs. 30,000 and cash at bank Rs. 25,000. During the month, he completed the following transactions: March 05: Purchased merchandise for cash Rs. 15,000. March 08: Sold merchandise for cash Rs. 40.000. March 15: Received a cheque from a customer Mr. Irfan for Rs. 14,500 in fill settlement of his account of Rs. 15,000. March 20. Withdrew cash for personal use Rs 5,000 and from bank Rs. 7,000 for office use. March 25: Deposited Mr Irfan's cheque into bank March 30; Issued a cheque for Rs. 9,700 in full settlement a supplier's account Rs. 10,000. KNWlfuL Record above transactions in three column cash book. Balance the cash book on March 31, 2016 and bring down the balance on April I, 2016.

Explanation / Answer

Answer:-

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DR CR Date Particulars Discount cash bank Date Particulars Discount cash bank 08-03-2016 To sales 40000 05-03-2016 Purchase 15000 25-03-2016 To irfan 14500 15-03-2016 Discount 500 30-03-2016 Discount 300 20-03-2016 Drawings 5000 7000 30-03-2016 Suppliers 10000 Balance 200 2500 Balance 20000 Total 500 40000 17000 Total 500 40000 17000

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