Cash Loan Bookkeeping Question

Cash Loan

Cash received as loan goes to which side in the Trial Balance?

Cash Sales

Our company having two sister concern one is wholesaler & another is retail shop, retail shop is not having bank a/c yet so all cash of retail shop is deposited in wholesale co bank account. Then what will be sales entry of retail books of account. I know that the cash entry which is pass in wholesale account for that JV will be pass in retail books.

Cash Book

On January 1st 2000 Fabu Ltd started business with the aim of becoming a leader in the Phobia market.

The following were the business transactions for January 2000:

1/1/2000. Bank. 50,000(Cr)
1/1/2000. Cash. 20,000
Jan 1. Deposited cash into bank. 35,000
Jan 2. Cash sales. 37,000
Jan 3. Paid rent by cheque. 15,500
Jan 4. Withdrew cash from the bank for business use. 22,000
Jan 7. Received cheque from Dzide in payment of goods. 21,000
Jan 10. Banked 18,000 of the cash held by the company
Jan 17. Paid Kofi for goods bought on credit for 65,000 less 5% discount by cash
Jan 20. Paid wages in cash. 20,000
Jan 21. Bought fixtures by cash. 15,000
Jan 22.Ama paid us her account of 30,000 by cheque less 10% discount
Jan 23. Received a loan of 42,000 cash

Write a three column cash book for Fabu Ltd for January 2000.

Cash Register Change

by Karen
(Iowa)

When we needed more smaller denomination bills for change to cash customers, we used to be able to just exchange a customer check for the bills needed. Now the bank first deposits the check and then withdraws the money. How is this recorded in the chart of accounts?

Cash Withdrawn From Business Bank Acct For Daily Expenses

by Irving
(San Pedro ca )

This is a S-Corp. Sometimes the office manager needs to pay some daily cash expenses. Under what accounting category should we put money withdrawn from bank account to be kept as cash in the office for daily expenses?

Cash Receipts Journal...Over/Short

by Heather
(New Orleans)

I'm working with a Cash Receipts Journal and there is a column for Cash Short and Over. According to the weekly Sales Summary, there is a $2 shortage. If I record the shortage in the column (which is marked as having a debit balance), then my credits and my debits don't match. Am I supposed to add the shortage to the sales column? I'm so confused!

Cash Book Problems

by Paul
(Botswana,Gaborone)

I've 3 questions-if a transaction says
'withdrew $250 from the bank for business use,is it a contra entry ?
2-'cash sales paid direct into the bank$38
3-'put $45 of the cash into the bank account.'
can you please tell me the double entry for these transactions.

Cash Clearing Account

Cash Clearing Account

I am using a cash clearing account and I sort of understand why--to make sure all of the cash gets into the bank, right? Anyways, I debit the bank and credit cash clearing to record deposits. I debit cash clearing and credit revenue to record invoices. How do other things affect cash clearing, such as beginning accounts receivable, ending accounts receivable, money not yet deposited, etc.

I have a credit balance in cash clearing and understand that if I do, I must debit cash clearing and credit revenue but that doesn't seem fair to the proprietor--I want to be able to explain why.

Also, I understand that if there is a debit balance in cash clearing remaining, then I must credit cash clearing and debit drawings--again that doesn't seem fair. Am I missing other accounts that could affect cash clearing--a detailed lesson would be most appreciated.

One Column Cash Book

by Motunrayo
(Nigeria)

t$t ltd had the following transactions for the month of june 2011.
date amount
june 1:balance brought forward 350
june 2:took loan from b&b ltd 3,500
june 4:bought goods for sale 2,000
june 6:made cash sales 1,500
june10:sold goods on credit to '33' 1,000
ltd
june15:paid back part of loan 700
from d&d ltd
june18:cash sales 800
june22:paid rent and rates 300
june25:withdraw cash for personal use 1000
june26:paid salaries 1,200

Opening Cash Balance

by Angela
(Lansing)

What is the journal entry for entering the opening cash balance for a company?

My Cash Quest

Bought fixtures from court jamaica limited paying by cash.

Three Column Cash Book

by Lobopo Samson Mariri
(Gaborone, Botswana)

Awine wholesaler is to be written up from the following details,balance off,and the relevent discount account in the general leasure shown.
March 1; balance brought foward cash P620.00 Bank P7142.00
March 2; The following paid their account by cheaque in each case dedacting 5%cash discount G.Slick P260.00, P.Fish P320.00, T.Old P420.00
March 4; Paid rent by cheaque P430.00
March 6; F.Black lent us P5000.00 paying by cheaque
March 8; We paid the following accounts by cheaque in each case dedacting a 2.5 percent cash discount R.White P720.00, G.Greeen P960.00, L.Flip P1600.00.
March 10; Pain motor expences in cash P81.00
March 12; J.Pie pays his account of P90.00 by cheaque at P80.00 deducting P2.00 cash discount.
March 16; Pays wages in cash P580.00
March 18; The following paid their accounts by cheaque in each case deducting 5%cash discount A.Pony P540.00, B.Line and sons P700.00 and T.Owen P520.00
March 21; Cash withdrawn from the bank P400.00 for business use
March 24; Cash drawings P200.00
March 25; Paid W.Peat his account of P160.00 by cash P155.00 having deducted P5.00 discount.
March 29; bought fixtures paying by cheaque P720.00
March 31; Received commission by cheaque P120.00

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