Lesson Notes By Weeks and Term - Senior Secondary 1
Single column cash book
Single column cash book
Term: 2nd Term
Week: 1
Class: Senior Secondary School 1
Age: 15 years
Duration: 40 minutes of 2 periods each
Date:
Subject: Financial accounting
Topic:- Single column cash book
SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to
INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source
INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures
INSTRUCTIONAL PROCEDURES
PERIOD 1-2
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PRESENTATION |
TEACHER’S ACTIVITY |
STUDENT’S ACTIVITY |
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STEP 1 INTRODUCTION |
The teacher reviews the previous lesson on exercises on ledgers |
Students pay attention |
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STEP 2 EXPLANATION |
She explains the meaning of cash book and single column cash book
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Students pay attention and participates |
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STEP 3 DEMONSTRATION |
She shows the learners how to prepare a single column cash book |
Students pay attention and participate |
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STEP 4 NOTE TAKING |
The teacher writes a summarized note on the board |
The students copy the note in their books |
NOTE
SINGLE COLUMN CASH BOOK
The Cash Book is a subsidiary book of account that is used to record the payments and receipts of money (cash or cheques) to or by a business organisation. The cash book is part of the double entry system. It therefore functions both as a ledger and a subsidiary book of account
Types of Cash Book
Single Column Cash Book
This is the simplest form of Cash Book operated by a business and it is used to record all cash transactions. The cash transactions recorded in the cash book can be for cash sales, cash purchases, payment of cash to suppliers, receipt of cash from customers, acquisition of properties (fixed assets) by cash and all other transactions that involved the receipt and payment of cash.
Illustration:
Prepare a Cash Book from the following information for the month of August 2022
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N |
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Balance of cash in hand |
14, 130 |
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Received Cash from Adesola a credit customer |
3, 600 |
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Paid rent for the month |
1, 750 |
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Paid cash to Lawal, a supplier |
3, 200 |
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Cash Sales |
22, 110 |
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Cash Purchases |
15, 235 |
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Cash received from D. Bright as a loan |
10, 000 |
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Paid Ayodele a supplier on account |
6, 250 |
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Received cash from Bonik Ventures, a customer |
14, 000 |
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Credit sales to Owoyemi |
42, 000 |
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Purchases on credit from F. Lawal |
18, 550 |
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Paid wages to shop clerk |
4, 500 |
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Paid electricity bills |
1, 200 |
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Paid carriage on purchases |
2, 500 |
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Cash Book
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Date 2022 |
Narration |
Folio |
Amount N |
Date 2022 |
Narration |
Folio |
Amount N |
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August 1 |
Balance |
b/d |
14, 130 |
August 4 |
Rent |
1, 750 |
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August 2 |
Adesola |
|
3, 600 |
August 5 |
F.Lawal |
3, 200 |
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August 9 |
Sales |
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22, 110 |
August 10 |
Purchases |
15, 235 |
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August 12 |
D. Bright – Loan |
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10, 000 |
August 18 |
Ayodele |
6, 250 |
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August 19 |
Bonik Ventures |
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14, 000 |
August 26 |
Wages |
4, 500 |
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August 28 |
Electricity |
1, 200 |
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August 30 |
Carriage Inwards |
2, 500 |
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August 31 |
Balance c/d |
29, 205 |
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63, 840 |
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63, 840 |
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Note: The credit sale of August 22 and credit purchases of August 24 are not posted to the cash book because they do not involve movement of cash. The two transactions can only be posted in the Sales Journal and the Purchases Journal respectively. Students should watch out for transactions like these during examinations.
EVALUATION: 1. Define cash book
Jan.1 Business started with cash N10,000.
Jan.2 Purchased goods for cash N6,000.
Jan.5 Purchased furniture for office use N1,000.
Jan.7 Goods sold for cash N4,000.
Jan.9 Goods purchases from Ram on credit N4,000.
Jan.10 Commission received N500.
Jan.15 Paid to Ram N2,000.
Jan.18 Goods sold to Hari on credit N5,000.
Jan.24 Received from Hari N4,000.
Jan.28 Stationery purchased N300.
Jan.31 Rent paid N700 and withdrew for personal use N2,800.
CLASSWORK: As in evaluation
CONCLUSION: The teacher commends the students positively