Sub-Division of Journal : Cash Book — Chapter Summary
ICSE · Class 11 · Accountancy
Summary of Sub-Division of Journal : Cash Book for ICSE Class 11 Accountancy. Part of the ICSE Class 11 Accountancy syllabus.
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Overview
Cash Book is a special journal used for recording all cash transactions, that is, cash receipts and cash payments. It is also called a journalized ledger because it performs the function of both a journal and a ledger. Journal is sub-divided into special journals when transactions are numerous, and
Key Concepts
A Cash Book records all cash
A Cash Book records all cash transactions, including receipts and payments. It is both a book of original entry and a ledger account, so the cash aspe
When transactions are numerous
When transactions are numerous, journal is sub-divided into special journals or subsidiary books to make recording easier and faster. Cash Book is one
This is a simple cash book
This is a simple cash book with only one amount column. It records only cash receipts and cash payments and does not record cheques or cash discount.
This Cash Book has two amount
This Cash Book has two amount columns: Cash and Bank. The Cash column and Bank column represent Cash Account and Bank Account, so these accounts are n
A contra entry occurs when both
A contra entry occurs when both debit and credit aspects of the same transaction are recorded in the Cash Book itself, such as cash deposited into ban
Learning Objectives
- Understand the meaning and need of Cash Book
- Know why journal is sub-divided into special journals
- Differentiate between Cash Book and Cash Account
- Learn the format and use of Single Column Cash Book
- Learn the use of Double Column Cash Book with cash and bank columns
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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