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Summary

  • Cash book can be of the following types:
     
    – Single column cash book - records all cash transactions
     
    – Double column cash book – records cash transactions with discount received and discount allowed details
     
    – Triple column cash book – Records cash and bank transaction along with discount received and discount allowed details.
     
    – Petty cash book - records payment of petty cash expenses
  • Transactions recorded in three column cash book which relates to both cash and bank account are known as Contra Entry
  • Discount column is not balanced in double and triple column cash book. The total of discount columns is transferred to the Profit and Loss account




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