Check out Cash Book with Discount Column Homework Answers Here

thumbs up

Ease your homework burden with top-notch Online Homework Help. Say goodbye to deadlines stress and let our expert tutors handle your assignments effortlessly.

Focus on what truly matters while we handle the rest.

Rate this post

Cash book is a part of general ledger from accounting point of view. The entries into the cash book are posted in the general ledger. It is a financial journal with all cash receipts and payments including bank deposits and withdrawals.

All cash transactions are primarily recorded in the book with narration so one can say that it is journal. Cash book can also be considered as ledger as it serves the purpose of both cash and bank account.

Cash book is a ledger to keep track of small purchases in small and medium size organization. Small businesses just food joints and small restaurants keep a book as they purchase supplies in small quantities to avoid short term shortfalls in supplies.

Cash book uses

Cash book is very convenient form of accounting to record small purchase. Cash book is used because many times it is inconvenient to make provision of payment through check or credit card. Besides this lot business prefer to make the transactions in cash only.

Bookkeeping

There is specific method to carry recording of transactions in this book. All legitimate expenses of materials and supplies in small quantity are recorded in this book. As these are legitimate transaction on needs the transfer them as well as residual balances to general ledger in order claim them as deductions. On needs to also record money withdrawn from the bank for such small transactions in banking ledger. Make it a point to reconcile the balances at the end of regular intervals or monthly basis.

If one needs details of bookkeeping of the book transactions then one needs to check out cash book with discount column homework answers

Types of cash books

The book with cash column and discount column is known as double column cash book. There are two types of book. Double column cash book and triple column cash book. Triple column cash also includes bank account column. In cash book credit and debit sides are separated by 2 columns known as cash column and discount column.

If you wish to know more about cash book with discount column check out cash book with discount column homework answers.

Discount Received and discount allowed

In a company’s cash book section discount received and discount allowed are recorded as cash discount which is represented in the additional discount column. Generally such transaction materializes at the time when a customer makes a payment in receipt of goods or services. Such discounts are recorded as credit transactions. Such recording of transactions occur because of market competition. Such discounts are used by sellers as rebates and discounts to encourage customers once their goods and services are taken on credit. Such discounts encourage buyers to make an early payment.

If you need any further information on such transactions check out cash book with discount column homework answers.

If a customer makes an early payment they are allowed a discount. You can find such discounts recorded on the debit side of the cash book. This is done as expenses are deducted for hike in amount. Discount is termed as an expense in accounting aspects as it is given by companies for payments they receive on transactions with external parties. It is also a benefit for those parties as they pay less due that discounted amount.

If you need to know how the transactions can recorded for discount received and discount allowed then check out cash book with discount column homework answers.

Discount allowed is not balanced actually it is transferred to profit and loss account.

The amount received after discount is imposed is represented in cash book on the credit side

Trade Discount

We know that double column cash book is provided with discount column on both credit and debit side. But many times buyers purchase goods on credit and discount is given to encourage timely payment such discounts are known as trade discount.

Check out cash book with discount column homework answers to know the treatment of discounts in cash book.

If one is not so proficient in accounting subject then you can take help of assignment completion services to get good grades.

Discount allowed to debtors and discount received from creditors

Discount allowed to debtors is recorded on the debit side of cash book and discount received from creditors is recorded on credit side of cash book.

Recording Cashbook transactions in ledger

It is the responsibility of the accounting staff of a company to regularly compare cash book with bank statements preferably on monthly basis. Cash book transactions so recorded should appropriately transferred to the proper accounts or headings in the general ledger.

Cash book issues

Which transactions to consider in cash book is a dicey thing. Employees who are authorized to make payment either by check or credit card may find it inconvenient to handle cash unless and until it is a minuscule amount. Sometimes cash is not convenient if one has purchase from wholesale market.

A knowledgeable person in subject of accounting would agree that different experts have different perceptions about treatment of accounting of cash book and in businesses both auditors and accounting staff of the company need to come in agreement on dealing with cash book transactions and its bookkeeping and accounting treatment.

If you are having difficulty in dealing with subject of accounting and finding difficult to complete homework assignments then there are few companies who are into business of providing homework and assignment help services. Do check them out.

You May Also Like

How We Help With Homework

Our Workflow

trustpilot ratings

4.2/5

trustpilot ratings

4.7/5

trustpilot ratings

4.8/5

5
Step 1

Submit your homework

  • Describe your task requirements, and set the deadline using our online form.

5
Step 2

Connect to qualified tutors

  • Receive instant quotes from experts. Pay using secure payment gateways.

Step 3

Get accurate solutions

  • Receive plagiarism-free solutions in your mentioned deadline. Unlimited free revisions included.

  • NHonest Pricing
  • NBetter Grades
  • NMoney-back Guarantee

High Student Satisfaction

70% Repeat Customers

help with homework

Frequently Asked Questions (FAQs)

Our Answers to Your Questions

C
E

How do I submit my assignment?

Getting assignment help is very simple with us. Students can either send us the homework via email or they can upload it to our online form here. For a quicker response, You can also chat with us at WhatsApp and submit homework directly. You are sure to get a response from our side within 10 minutes. You can pay for your order using secure PayPal or major credit card gateways.

C
E

Who will do my homework?

All our tutor experts are highly qualified professionals – holding at least Master’s degree in their fields. Currently, our tutor pool is made of 400 subject-specific experts.

Each expert has been individually chosen after a series of rigorous screen tests, which involves credential checks, work history analysis, writing sample assessment, and one-on-one interviews.

C
E

How much will my homework cost?

Each assignment is quoted a unique price. It is based on (i) complexity of task, (ii) your deadline and (iii) tutor’s estimate of the time it will take them to complete your homework. There are no obligations, and you are free to discuss the price quote with the tutor.

We also accept partial payment to start working on your assignment help. You can pay the remaining amount when your task gets completed. No pressure of up-front payment. No hidden order costs. We do not have a monthly fees or minimum payments for services.

C
E

Can I pay someone to help me with my homework?

Yes, you can pay online tutors for homework help. There is nothing wrong with asking for help from trained and professional subject tutors to clarify doubts regarding any assignment or coursework.

C
E

What mode of payment is acceptable?

There are several ways to pay for homework help:

  • Credit/Debit Card: You can use your credit or debit card to make a payment online. We accept VISA/MASTERCARD/AMEX.
  • PayPal is a secure online payment service that allows you to pay for essay writing services using your account balance or linked bank account.

C
E

Can I chat with my tutor?

Using our secure chat board, you can now chat directly with your assigned tutor. The chats are encrypted both ways to secure your privacy. This makes your contact with the tutor directly & confidentially, so you can better explain any requirements or changes if needed or just need updates.

You can't contact the experts outside of chat board platform. Sharing any personal information, including but not limited to contact information, goes against our Terms and Conditions and therefore may result in permanently blocking you from the platform. We take any personal data very seriously and we do it for the safety of our users.

Know more about chat board here.

C
E

Can I get free online homework help?

Our homework services are not free because we provide customized, high-quality homework solutions. We have a prepaid system that ensures professional homework helpers are paid fairly for their work and time. We believe that the value of their expertise and the effort they put into crafting each assignment justifies the cost of our service.
C
E

Is My Homework Help Legit?

My Homework help is absolutely legit! We are the leading providers of college homework services since 2012. We connect you with experienced tutors for your assignment and make sure you get completed answers before deadline. Our guarantee is high-quality assignment solutions or your money-back. It’s that risk-free! Furthermore, everything about you is kept confidential.

C
E

Can I trust you for homework help?

My Homework Help is absolutely reliable. Students of the world's top universities use our services and 50% of our customers are repeat customers. Our ordering process is very simple & transparent. There are no hidden fees or subscription anything like that. You can also request a refund if you think that our expert wasn’t able to meet your requirements. Your prime satisfaction is our end goal!

Know more - How it works

C
E

What about privacy & confidentiality?

Using My Homework Help is absolutely safe. We care about your security, therefore we encrypt all personal data to make every user feel safe while using our services and we don’t share any personal information with any third parties without your permission. Your credit card information is not stored anywhere at My Homework Help, and use of PayPal relies on their secure payment networks. Your identity, payment and homework are in safe hands. You can always be certain of getting professional help and remaining anonymous, while using My Homework Help.