Double Column Cash Book | Format, Calculation, and Example

Double column cash book = Consists of two columns on each side to record cash and bank transactions Single column cash book = Contains only one column to record cash transactions Posting to ledger accounts = Procedure used to transfer entries from cash book to ledger accounts Cash discount = An additional column included in double column cash book to record discounts

Enables maintenance of cash and bank accounts side by side = Double column cash book Allows for greater convenience when recording transactions = Double column cash book Provides quick visibility of overall balances = Double column cash book Format is similar to single column cash book with an additional column for discounts = Double column cash book

Posting to ledger accounts = Transfer entries from cash book to ledger accounts Preparing a double column cash book = Using specific transactions to create a double column cash book Adding a bank column to a single column cash book = Converting it into a double column (or two column) cash book Using the format of a double column cash book for recording transactions = Commonly used by organizations to account for their cash transactions

<p>Cash discount = A reduction in the price of an item if payment is made within a certain period Ledger accounts = Accounts that provide a summary of transactions recorded in the double column cash book Format of a double column cash book = Similar to a single column cash book with an additional column for recording discounts Bank column in a double column cash book = Used to record bank transactions alongside cash transactions</p> Signup and view all the answers