Page 112 - DCOM101_FINANCIAL_ACCOUNTING_I

Financial Accounting-I

Notes 8. What is Contra entry? How will you deal with this entry while preparing Bank Column
Cash Book?
9. From the following transactions prepare Simple Cash Book:
July 31
2006 `
March 01 Cash in hand 32,500
’’ 08 Cash paid to Rohan 8,000
’’ 12 Goods Purchased 3,000

’’ 15 Cash received from Tanaya 2,000
’’ 18 Cash Sales 4,000
’’ 22 Paid wages 4,000
’’ 25 Salary paid 3,000

’’ 28 Cash paid to Manish 3,500
’’ 31 Rent paid 2,500
10. What do you mean by Petty Cash Book? Explain the imprest system of Petty Cash Book.

Answers: Self Assessment

1. False 2. True
3. False 4. True
5. False 6. True

7. True 8. (b)
9. (b) 10. (a)

9.9 Further Readings

Books Khan and Jain, “Management Accounting”.
M.P. Pandikumar, “Accounting & Finance for Managers”, Excel Books, New Delhi.
R. L. Gupta and Radhaswamy, “Advanced Accountancy”.
S. N. Maheswari, “Management Accounting”.
V. K. Goyal, “Financial Accounting”, Excel Books, New Delhi.

Online links http://www.globusz.com/
www.futureaccountant.com
www.scribd.com

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