1. What is the benefit to a household of keeping an analysed cash book? 2. Name the two sides of an analysed cash book.
Critical Thinking Skills Questions with bank transactions only
1. The Orpen family keeps household accounts using an analysed cash book. They lodge all money received in their current account and pay all their bills by debit card or online electronic credit transfers. During the first two weeks of January 20–, the family had the following transactions:
January 2 January 3 January 4
January 4 January 5 January 7 January 9 January 10 January 11 January 12 January 13
Balance of €700 in their current account since last month. Paid €110 for petrol by debit card.
Owen Orpen’s salary of €1,940 was paid directly into the current account.
Bought groceries for €318 by debit card.
Shopping in January sales for clothes cost €540. Paid electricity bill of €280 by direct debit. Car service cost €160 by debit card.
Dental bill cost €195 paid by direct debit. Olive Orpen received her salary of €800.
Groceries for the week cost €276 paid by debit card. Paid rent of €250 by standing order.
Write up and total an analysed cash book for the Orpen family for the two weeks ending 14 January. Remember to show the closing balance.
Use the following money column headings: Debit (receipts):
Bank Credit (payments): Bank, Food, Light & Heat, Car, Clothes, Other.
2. Laura Griffith keeps her household accounts using an analysed cash book. Her salary is paid directly into her current account. She pays all her bills by debit card, standing order or direct debit. During the first two weeks of July 20–, Laura had the following transactions. She had a balance of €500 in the bank at the beginning of the month.
July 2 July 5
July 6 164 164 Received wages Paid groceries by debit card
Petrol purchased with debit card Received commission from work
