INTERVIEW QUESTIONS ACCOUNTING PROCESS CASH BOOKS DETAILS

Question: Cheques received but deposited on the next day are recorded in: a) Cash column of the cash book b) Bank column of the cash book c) Both of these d) none of these

Answer: (a) Cash column of the cash book
Description: When a business house receives a cheque it is entered in the bank column on the receipt side if paid into the bank on the same day. If the cheque is not deposited in the bank on the same day then it is entered in the cash column of the cash book when it is received. When the cheque is deposited in the bank a contra entry is passed.

(a) Cash column of the cash book
Description: When a business house receives a cheque it is entered in the bank column on the receipt side if paid into the bank on the same day. If the cheque is not deposited in the bank on the same day then it is entered in the cash column of the cash book when it is received. When the cheque is deposited in the bank a contra entry is passed. Source: CoolInterview.com

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