Accounts Cashbook MCQs

"Insurance Premium paid by bank as per standing instructions." What will be the entry in the triple-column cashbook?

• To Insurance

• By Bank

• By Insurance

• To Cash

If Mr. Kapoor had a bank overdraft of 5,73,540 Rs and 52,673 Rs were paid by him to clear of his debts from Mr. Thappar. On 30th March 2023, he recieved a cheque of 2,66,727 Rs. On 31st March 2023, Mr. Kapoor cleared off the bank overdraft by paying depositing cash. What will be the entry for this transaction is the Triple-Column Cashbook?

• Bank A/c dr. 3,59,486

  To Cash A/c 3,59,486

• Cash A/c dr. 3,69,486

  To Bank A/c 3,69,486

• Bank A/c dr. 3,69,486

  To Cash A/c 3,69,486

• Bank A/c dr. 4,59,486

  To Cash A/c 4,59,486

Cashbook is also known as _____

• Book of Copied Entry

• Book of Secondary Entry

• Books of Subsidiary Entry

• Book of Primary entry

Assertion(A)- Rahul gave Rajat a cheque of 1,250 which was endorsed to Laxmi to clear of their dues.

Reason(R)- The given transaction will not be recorded in the cashbook and would go to the journal proper as the cheque was not deposited in the bank.

Based on the above statements, which of the options is correct?

• Both (A) and (R) are correct and (R) is the correct explanation for (A)

• Both (A) and (R) are correct but (R) is not the correct explanation for (A)

• (A) is true and (R) is false

• (R) is true and (A) is false.

Mr. Thappar received a cheque from Mr. Kapoor of 10,000 Rs to clear of his account of 10,500 Rs.

Later on the cheque was dishonored. What will be the entry in the Journal Proper?

• Discount Allowed A/c dr. 500

  To Mr. Kapoor A/c 500

• Mr. Kapoor A/c dr. 500

  To Discount Received A/c 500

• Discount Received A/c dr. 500

  To Mr. Kapoor A/c 500

• Mr. Kapoor A/c dr. 500

  To Discount Allowed A/c 500

Ashok owed us 25,000 Rs. On 1st March, he accepted 2 bills of 10,000 Rs. and 15,000 Rs. for 3 months and 4 months each respectively . The first bill was discounted with the bank at 5% on 4th March. What will be the entry in the Triple-Column cashbook?

• By Bills Receivable 1 9,975

  Bank A/c Credited

• To Bills Payable 1

  9,875

  Bank A/c Debited

• To Bills Receivable 1 9,875

  Bank A/c Credited

• To Bills Receivable 1 9,875

  Bank A/c Debited

What are the 2 types of Cashbooks?

• Single Column and Double Column Cashbook

• Double Column and Triple Column Cashbook

• Single Row and Triple Row Cashbook

• Single Column and Triple Column Cashbook

On March 1st 2024, Rohit received 2 bills from Gautam of 12,000 Rs and 6,000 Rs for 3 months and 4 months respectively. Rohit  discounted the bill with the bank on the same day. Where will the charges be recorded in the cashbook?

• Discount Received

• Discount Allowed

• It would not be Recorded

• Rebate Received

On 31st March, Shubham had 1,52,666 Rs Cash in hand and 5,62,090 in the bank. He deposited all the cash in the bank in the excess of 13,000 Rs. What will be the end balances for both the cash in hand and the bank?

• Cash in Hand [Dr.]- 13,000

      Bank [Cr.]- 7,01,756

• Cash in Hand [Dr.]- 12,670

      Bank [Dr.]- 7,02,086

• Cash in Hand [Dr.]- 1,52,666

        Bank [Dr.]- 5,49,090

•  Cash in Hand [Dr.]- 13,000

        Bank [Dr.]- 7,01,756

March 1- Cash = 1,50,000  Bank Overdraft = 50,000

March 3- Mr. Kohli received a cheque from Mr. Sharma of Rs. 1,00,000 to clear off his debt of 1,10,000. 

March 4- Mr. Kohli deposited the cheque received from Mr.Sharma.

March 10- Mr.Kohli withdrew 1,50,000 from the bank for office use.

March 15- Mr.Kohli paid Mr. Gill, Rs 75,000 from the bank to clear off his debt.

March 20- Deposited 80,000 in the bank

March 21- Mr. Kohli received 60,000 cash from Mr. Yadav against the sale of goods. They were deposited into the bank on the same day.

March 31- Mr.Kohli deposited cash in the bank to clear off the bank overdraft.

March 31- Cash was deposited in the bank account with an excess of 20,000.

Given are the transactions in the books of Mr. Kohli. How many contra entries are to be made in the cashbook?

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• 3

• 6

• 4

• 5