Cash Book — Flashcards
NIOS · Class 12 · Accountancy
21 flashcards for Cash Book (NIOS Class 12 Accountancy) to test yourself on key terms and facts. Sample: "What is a Cash Book and why is it different"
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What is a Cash Book and why is it different from other books of original entry?
Answer
A Cash Book is a specialized book of original entry that records all cash receipts and cash payments of a business in chronological order. Unlike the Journal, which records all types of transactions, …
Explain the structure of a Simple Cash Book and identify which side records receipts and which side records payments.
Answer
A Simple Cash Book has a two-sided structure similar to any ledger account: DEBIT SIDE (Left side): Records all cash RECEIPTS (money coming in). CREDIT SIDE (Right side): Records all cash PAYMENTS (mo…
Why is the debit side total of a Simple Cash Book always greater than or equal to the credit side total?
Answer
This principle exists because cash payment can NEVER exceed the available cash on hand. The fundamental rule is: Closing Balance = Opening Balance + Total Receipts - Total Payments. Since payments can…
What are the steps involved in balancing a Simple Cash Book at the end of a period?
Answer
Balancing a Simple Cash Book involves these systematic steps: (1) Total all amounts on the debit side and write the sum at the bottom. (2) Total all amounts on the credit side. (3) Compare the two tot…
When a Simple Cash Book is maintained, how are its transactions posted to the Ledger?
Answer
Posting from Simple Cash Book to Ledger follows this rule: OPPOSITE SIDE PRINCIPLE - Accounts appearing on the DEBIT side of Cash Book are posted on the CREDIT side of their respective ledger accounts…
What is a Bank Column Cash Book and when is it used instead of a Simple Cash Book?
Answer
A Bank Column Cash Book is an extended version of the Simple Cash Book that includes TWO amount columns on each side: one for CASH transactions and one for BANK transactions. It is used when an organi…
Explain what 'Bank Overdraft' is and how it is recorded in a Bank Column Cash Book.
Answer
Bank Overdraft occurs when a business has withdrawn more money from its bank account than was available, resulting in a negative (credit) bank balance. It represents money borrowed from the bank. Reco…
What are 'Contra Entries' in a Bank Column Cash Book and why is the letter 'C' written against them?
Answer
Contra Entries are transactions involving the transfer of money between Cash and Bank accounts. They affect both the Cash column and Bank column simultaneously. Common examples: (1) Cash withdrawn fro…
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