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Topic Content:
- Meaning of Double Column/Two Column Cash Book
- Contra Entries
- Treatment of Contra Entries
- Treatment of Drawings
What is a Double Column/Two Column Cash Book?
The two-column cash book is a combination of both cash account and bank account in one book. It shows the total particulars of all the money received and paid by the firm, either by cash or cheque .
There will be separate columns for date , particular s, folio , cash and bank on both sides of the account.
What are Contra Entries?
Contra Entries show that cash has been withdrawn from the office and deposited in the bank, or withdrawal of cash from the bank, for office use.
Therefore, contra entries affect both the cash and bank accounts.
Treatment of Contra Entries:
The following are ways of treating contra Entries:
(i) Cash paid into the Bank.
(ii)
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