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Zorluk: OrtaSingle-Column and Two-Column Cash Books

On 14 April 2026, Chidi transferred ₦50,000 from the business cash till into the business bank account. Which of the following describes the correct double entry recording in Chidi's two-column cash book?

  1. Debit the bank column and credit the cash columnCevap
  2. B
    Credit the bank column and debit the cash column
  3. C
    Debit the bank column and credit the capital account in the ledger
  4. D
    Debit the discount allowed column and credit the bank column

Cevap

Debit the bank column and credit the cash column.
Transferring cash from the cash till into the bank account increases the bank asset and decreases the physical cash asset. In a two-column cash book, this is recorded by debiting the bank column (receipt into bank) and crediting the cash column (payment out of cash) as a contra entry.

Adım Adım Çözüm

1
Identify the nature of the transaction
The transaction involves moving money internally from cash to bank.
Both cash and bank accounts are contained within the two-column cash book.
2
Apply double entry principles for asset accounts
The Bank account gains money (debit asset increases), and the Cash account loses money (credit asset decreases).
An increase in an asset is debited, while a decrease in an asset is credited.
3
Record the entry in the two-column cash book
Record ₦50,000 in the debit Bank column and ₦50,000 in the credit Cash column marked with a folio reference 'C' (Contra).
A transaction involving both cash and bank columns of the same cash book is a contra entry requiring no further posting to individual ledger accounts.

Anahtar Kavram

Contra Entry in a Two-Column Cash Book
Tahmini Süre:1m 0s
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Konular

Single-Column and Two-Column Cash Books

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