0438 Assignment NO 2 Solution 2022-Autumn 2022-AIOU-Q 3-Principles of Accounting
Question 3
Enter the following transactions into three column cash of Mr. Noman trading Co. for the month of September, 2016.
Cash in hand Rs. 500,000 and over drawn balance of Bank Rs. 800,000.
Cash sales Rs. 100,000.
Received cheque from Mr. Abdullah Rs.200, 000 and this cheque paid into bank on same day.
Drew from Bank for office use Rs. 50,000.
Cash sales Rs 800,000 of which Rs. 600,000 was banked.
Mr. Anwar who owed Rs. 100,000 on an invoice subject to 5% discount and settled of huis account by cheque
Mr. Anwar, cheque deposited into bank.
Paid salaries Rs. 25,000.
Bank informed that cheque of Mr. Anwar has been dishonored.
Paid advertising expense Rs. 3,000 by Cheque.
Deposited capsh into Bank Rs. 100,00.
Paid Electricity bill Rs. 7,000 by cheque and Rent Rs, 25,000 in cash.
Requirement
Prepare three column Cash Book
Question 3
Enter the following transactions into three column cash of Mr. Noman trading Co. for the month of September, 2016.
Cash in hand Rs. 500,000 and over drawn balance of Bank Rs. 800,000.
Cash sales Rs. 100,000.
Received cheque from Mr. Abdullah Rs.200, 000 and this cheque paid into bank on same day.
Drew from Bank for office use Rs. 50,000.
Cash sales Rs 800,000 of which Rs. 600,000 was banked.
Mr. Anwar who owed Rs. 100,000 on an invoice subject to 5% discount and settled of huis account by cheque
Mr. Anwar, cheque deposited into bank.
Paid salaries Rs. 25,000.
Bank informed that cheque of Mr. Anwar has been dishonored.
Paid advertising expense Rs. 3,000 by Cheque.
Deposited capsh into Bank Rs. 100,00.
Paid Electricity bill Rs. 7,000 by cheque and Rent Rs, 25,000 in cash.
Requirement
Prepare three column Cash Book
Category
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LearningTranscript
00:00Assalamualaikum Dear Students and Viewers, Welcome to my YouTube Channel, This is Anirban
00:05In today's video tutorial, we will try to solve the assignment number 2 and question number 3 of Principle of Counting which is subject code 048
00:15which is related to Attempt 2, 2022
00:18and the last state of it, I think
00:21there is still a lot of time in this
00:24you can check it out, so let's start
00:27to read out question number 3
00:30and we will understand the related requirements
00:33and then we will move to the solution
00:36Enter the following transactions into 3 column
00:39cash of Mr. Numan Trading Company for the month of September
00:42The format of the cash book
00:45is 3 column cash book
00:48in which we make 3 columns
00:51we post all the cash related transactions
00:54in that
00:57you have to prepare that 3 column format of transactions
01:00for cash of Mr. Numan Trading Company for the month of September
01:03you have to prepare that 3 column format of transactions
01:06let's see the transactions
01:09here it is saying September but here it is writing January
01:12so you can write it as September
01:15maybe it is typo error
01:19so let's start transaction 1
01:22first transaction number 2016
01:25I am going to assume this month of
01:28September as per the given statement of the question
01:31rather January
01:34cash in hand Rs. 500,000 and overdrawn balance of your bank Rs. 800,000
01:37balance of your bank Rs. 800,000
01:40the balances you are getting
01:43your company's cash in hand is positive
01:47overdrawn means
01:50Numan Trading Company has taken loan from the bank
01:53and it is on the credit side
01:56of the bank
01:59I think debit side
02:02because it is reverse of the
02:05account that
02:08Mr. Numan is maintaining and on the other hand the bank is maintaining
02:11cash sales of Rs. 100,000
02:14cash sales of Rs. 100,000 received cheque from Mr. Abdullah
02:17Rs. 200,000
02:20and this cheque paid into bank on the same day
02:23and due from bank
02:26for office use Rs. 60,000
02:29office use
02:32cash sales of Rs. 800,000
02:35of which Rs. 600 was bank
02:38it means
02:42out of that you have deposited Rs. 600,000
02:45into bank and remaining keep it in your
02:48company locker
02:51Mr. Numan who owed Rs. 100,000
02:54on an advice subject to 5% discount
02:57and settled off his
03:00due, his account by cheque
03:03Mr. Numan also took a loan of Rs. 100,000
03:06on an advice
03:10Mr. Numan also took a loan of Rs. 100,000
03:13on an advice subject to 5% discount
03:16and settled off his due
03:19Mr. Numan chequed deposit into bank
03:22Mr. Numan has sent the cheque to the bank
03:25for cash mint
03:28paid salaries of Rs. 25,000
03:31paid salaries of Rs. 25,000
03:34and
03:37Mr. Numan has been dishonored
03:40Mr. Numan has been dishonored
03:43Mr. Numan has been dishonored
03:46Mr. Numan has been dishonored
03:49Mr. Numan has been dishonored
03:52Mr. Numan has been dishonored
03:55Mr. Numan has been dishonored
03:58Mr. Numan has been dishonored
04:01Mr. Numan has been dishonored
04:04Mr. Numan has been dishonored
04:07Mr. Numan has been dishonored
04:10Mr. Numan has been dishonored
04:13Mr. Numan has been dishonored
04:16Mr. Numan has been dishonored
04:19Mr. Numan has been dishonored
04:22Mr. Numan has been dishonored
04:25Mr. Numan has been dishonored
04:28Mr. Numan has been dishonored
04:31Mr. Numan has been dishonored
04:34Mr. Numan has been dishonored
04:37Mr. Numan has been dishonored
04:40Mr. Numan has been dishonored
04:43Mr. Numan has been dishonored
04:46Mr. Numan has been dishonored
04:49Mr. Numan has been dishonored
04:52Mr. Numan has been dishonored
04:55Mr. Numan has been dishonored
04:58Mr. Numan has been dishonored
05:01Mr. Numan has been dishonored
05:04Mr. Numan has been dishonored
05:07Mr. Numan has been dishonored
05:10Mr. Numan has been dishonored
05:13Mr. Numan has been dishonored
05:16Mr. Numan has been dishonored
05:19Mr. Numan has been dishonored
05:22Mr. Numan has been dishonored
05:25Mr. Numan has been dishonored
05:28Mr. Numan has been dishonored
05:31Mr. Numan has been dishonored
05:34Mr. Numan has been dishonored
05:37Mr. Numan has been dishonored
05:40Mr. Numan has been dishonored
05:43Mr. Numan has been dishonored
05:46Mr. Numan has been dishonored
05:49Mr. Numan has been dishonored
05:52Mr. Numan has been dishonored
05:55Mr. Numan has been dishonored
05:58Mr. Numan has been dishonored
06:01Mr. Numan has been dishonored
06:04Mr. Numan has been dishonored
06:07Mr. Numan has been dishonored
06:10Mr. Numan has been dishonored
06:13Mr. Numan has been dishonored
06:16Mr. Numan has been dishonored
06:19Mr. Numan has been dishonored
06:22Mr. Numan has been dishonored
06:25Mr. Numan has been dishonored
06:28Mr. Numan has been dishonored
06:31Mr. Numan has been dishonored
06:34Mr. Numan has been dishonored
06:37Mr. Numan has been dishonored
06:40Mr. Numan has been dishonored
06:43Mr. Numan has been dishonored
06:46Credit side of the cash book
06:49Bank account
06:52For office use 50,000 that we have drawn from the bank
06:56Then 19th September 2015
06:59Bank account 600,000 that we have deposited
07:0213th January
07:0413th September
07:05Bank account 95,000 we have deposited
07:07The dual effect
07:09Bank account with the cash account
07:11This is the entry here
07:1315th September 2016
07:15Salaries expense
07:16It means cash account to bank account
07:29Salaries expense to bank account
07:31That's why I have written here
07:33Salaries expense
07:34Then the next this honour cheque
07:36That we have deposited here 95,000
07:38It will be appeared here 95,000
07:41Here we will see
07:43And on the 13th September we have deposited into the bank 25,000
07:48So this honour this cheque 95,000 here
07:53Advertising expense 300,000
07:56Bank account 10,000
07:58And utility expense paid through cheque 7,000
08:02And then the expense paid through 25,000
08:04And this is the balance carried down 940,000
08:08It means now we have 50,000 in bank
08:13And 940,000 in cash on credit side
08:19Let me check this
08:22Yes
08:27You see this side is greater than this side
08:30So if you have any query regarding any transaction
08:34In this three column
08:36You can ask me in the comment section
08:38If you want to add something
08:40To improve this solution
08:42You can drop your suggestion in the comment section
08:45Further if you find any mistake
08:48Regarding calculation or position of the value
08:53Among three columns
08:55Please correct them in the comment section
08:57Or discuss with me
08:59Thanks for watching
09:00Assalamualaikum