Petty Cash Book -It is another Cash Book which is
maintained, generally, in large business concerns to reduce
the burden of 'Main Cash Book', in which numerous
transactions involving petty (small) amounts are recorded.
Cash Book - contains all cash receipts and payments,
including bank deposits and withdrawals. Entries in the
cash book are then posted into the general ledger. The cash
book is periodically reconciled with the bank statements as
an internal method of auditing.
Suppose One asset purchased in 2006year and calculated SLN
method depreciation @10%pa for value 100000. Now middle of
the present year the assets was transfered to B company.
How can we take the accounting for previous depreciation,
asset value (transfer value) to debit B company. What is
the asset status in BS.