Select the most appropriate alternative.

Receipt is issued for
(a) Cash sale
(b) Goods received
(c) Cash received
(d) Cash paid

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Solution

Cash received

Explanation:
When cash is received from a customer, a receipt is issued by the receiver or the seller of the goods, containing the date, amount and the name of the customer. It acts as evidence in the hands of the customer that he/she has made the payment to the seller.

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(a) Cash Sale of Goods	(b) Cash Received against Revenue from Services rendered
(c) Cash Purchase of Goods	(d) Cash Paid against Services Taken
(e) Patents Purchased	(f) Marketable Securities
(g) Bank Overdraft	(h) Proceeds from Issue of Debentures
(i) Purchase of Shares	(j) Repayment of Long-term Loan
(k) Commission Received	(l) Redemption of Debentures
(m) Interest on Debentures	(n) Interest on Investments
(o) Income Tax Paid	(p) Income Tax Paid on Gain of Sale of Asset
(q) Cash Received from Debtors	(r) Cash Paid to Creditors.

2017		(₹)
Feb. 1	Mr. Vipin commenced business with Cash	2,00,000
3	Opened a Bank Account and deposited	75,000
5	Purchased goods for Cash	30,000
7	Purchased goods	15,000
10	Purchased goods from Surya Kant	40,000
12	Paid to Surya Kant	38,800
	Discount received	1,200
15	Paid Wages in Cash	22,500
16	Paid to casual labour	1,500
20	Sold goods to Dev Raj for Cash	80,000
25	Paid electricity bill in Cash	12,000
26	Withdrew Cash from Bank	40,000
27	Received for Cash sales	5,000
27	Paid for miscellaneous expenses	500

2017		(₹)
March 1	Cash-in-hand	2,710
	Cash at Bank	27,500
3	Received from Subhash	3,500
4	Sold goods for cash	10,000
7	Paid Rent by Cheque	800
8	Paid Sohan by cheque	3,000
10	Bought goods for cash	15,000
12	Paid cash for stationery	200
	Drew from Bank for office use	8,000
15	Received cheque from Surendra and sent it to Bank	6,600
16	Paid for advertisement	750
18	Issued cheque in favour of Nath Brothers	4,300
19	Cash Sales	13,000
	Paid into Bank	16,000
20	Received cheque from Vinod and sent it to Bank	2,400
22	Bought Scooter and paid for the same by cheque	18,000
25	Bank returned Surendra's cheque dishonoured
28	Paid salary by cheque	7,200
	Paid Trade expenses	2,000
29	Cash sales	9,500
30	Paid into Bank	10,000

Prepare a double column cash book with the help of following information for December 2016:

		Rs
01	Started business with cash	1,20,000
03	Cash paid into bank	50,000
05	Purchased goods from Sushmita	20,000
06	Sold goods to Dinker and received a cheque	20,000
10	Paid to Sushmita cash	20,000
14	Cheque received on December 06, 2010 deposited into bank
18	Sold goods to Rani	12,000
20	Cartage paid in cash	500
22	Received cash from Rani	12,000
27	Commission received	5,000
30	Drew cash for personal use	2,000

Enter the following transaction in Simple cash book for December 2017:

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