Accounts Project: CASH BOOK QUIZ ~ Moksha Shah* XI D * 37

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CASH BOOK QUIZ - Test Your Accounts Knowledge

Welcome to the Cash Book Quiz! This engaging quiz is designed to help you assess your understanding of cash book entries, bank transactions, and accounting principles. Whether you're a student, teacher, or simply someone interested in accounting, this quiz is perfect for you!

Featuring 17 thought-provoking questions, you will cover a variety of topics, including:

Cash and Bank Columns
Endorsed Cheques
Discount Calculations
Effect of Transactions on Cash Book
Trade Discounts

17 Questions4 MinutesCreated by AccountingEagle537

Bank Column can show _______________ balance and Cash Column can show _____________ balance

Either Dr. or Cr. ; Only Dr.

Only Dr. ; Either Dr. or Cr.

Only Cr. ; Only Cr.

Either Dr. or Cr. ; Either Dr. or Cr.

Carriage expenses paid on behalf of Mr. XYZ will be

Debited to Carriage A/c

Debited to Mr.XYZ A/c

Credited to Carriage A/c

Credited to Mr.XYZ A/c

Transfer of ₹6500 from Fixed Deposit to Current A/c will be recorded on _____________

Debit Side of Bank Column

Debit Side of Cash Column

Credit Side of Bank Column

Credit Side of Cash Column

Received a cheque of ₹ 44900 from Mrs. Gauri and allowed her a discount of ₹ 100. This will be credited to

Cash A/c by ₹45000

Cash A/c by ₹44900

Mrs. Gauri's A/c by ₹44900

Mrs. Gauri's A/c by ₹45000

Bills Payable duly honoured by issuing a cheque appears on which side of the Cash Book

Credit Side : Bank Column

Credit Side : Cash Column

Debit Side : Bank Column

Debit Side : Cash Column

Commission received ₹ 10000 in cash is recorded on Credit Side of Cash Book. This results in

Cash Balance overstated by ₹10000

Cash Balance understated by ₹ 10000

Cash Balance overstated by ₹ 20000

Cash Balance understated by ₹20000

Sale of Goods = ₹ 20000: T.D. @10%; C.D.@10%; Received ½ the amount in cash and the rest in Cheque(not yet deposited). The amount in Cash Column will be

�18000

�16200

�8100

�19000

Received ₹47,175 (Net) after allowing 7.5% Cash Discount. Therefore the Discount Allowed is ____________________

�2825

�325

�7825

�3825

Cash withdrawn for domestic use from Bank has ___________ effect on Cash Book

Contra Entry

Cash Column on Credit Side

Cash Column on Debit Side

None of the above

A student wrongly recorded an entry for cash withdrawal. Identify the effect of the mistake in cashbook.

Debit Bank Balance is overstated and Credit Cash Balance is understated.

Debit Cash Balance is understated and Credit Bank Balance is overstated

None

Identify the effect of the entry in cashbook.

Debit Cash balance increases and Credit Bank Balance decreases

Debit Cash balance decreases and Credit Bank Balance increases

Debit Bank balance decreases and Credit Cash Balance increases

Debit Bank balance increases and Credit Cash Balance decreases

10/4/22: Purchased goods from Mr. Shailesh worth ₹ 1000 and received 10% Trade Discount. 5% Cash Discount will be received if full payment is made within 5 days. 14/4/22: Issued a cheque for ½ the amount of goods purchased on 10/4/22. Paid ½ of the balance amount in cash. Identify the correct effect in the Cash Book.

Cash = ₹225; Bank = ₹450

Cash = ₹213.75; Bank = ₹427.50; Discount Received = ₹33.75

On the declaration of insolvency by Debtors, only partial amount is recovered. The amount irrecoverable is recorded on ___________ side in Cash Book

Debit Side

Credit Side

Does not appear

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Accounts Project: CASH BOOK QUIZ ~ Moksha Shah* XI D * 37

CASH BOOK QUIZ - Test Your Accounts Knowledge

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