Interested to Buy Any Domain ? << Click Here >> for more details...
What is petty cash and main cash book? Diff b/w them
- 2 Answers
- 13745 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / lavakumar
petty cash book: Petty cashier will record the petty
payments in a book is called petty cash book. Petty cash
book is mainained just like the cash book. Money recived
from head office is recorded in debit side, and payments are
recorded in credit side. genarally petty cash book
maintained on imprest system.
Cash book: In every business there will be a large number of
cash transactions i.e receipts & payments of cash. so it is
necessary to maintain a separate subsidary book ofr
recording the cash transactions. it is called cash book.
| Is This Answer Correct ? | 19 Yes | 3 No |
Answer / sourabh tripathi
petty cash book is one of 8 subsidiaries books maintained by a organisation where cash transactions of day to day activities which includes very less amount of cash, is known as petty cash book
where as cash book holds all cash and bank transactions where in balance from petty cash book is also shown.
petty cash book is maintained on a monthly basis where as cash book is prepared annually
| Is This Answer Correct ? | 1 Yes | 1 No |
why should the company give first perference to the perference shareholders?
what is a reducing balance method and depreciation fund investment method and 2 diffrences?
What is Mortgage Payment?
clasification of accounts
when do we claim service tax credit?for eg: in a company they are not claiming any service tax credit for their telephone expenses incured? what would be the reasons for not claiming it?
2. You are required to prepare a Profit & Loss Account for the year ending 31st December, 2007 and the Balance Sheet on that date. The Trial Balance of XYZ Ltd. for the year ended 31st December 2007 is as follows:- Trial Balance of XYZ Ltd. as on 31st Dec. 2007 Debit Balances Rs. Credit Balances Rs. Materials used 3,50,000 Sales(including 2% Sales tax) 9,18,000 Cost of Labour 1,50,000 Sale of Scrap 100 Stock, finished and work in process on 31st December, 2006 50,000 Rent received 2,000 Wages : Factory Staff 15,000 Discounts 2,750 Directors Remuneration 50,000 Recovered against fire claim re : Stock 5,000 Salaries : Clerical Staff 75,000 Capital : Equity 25,000 Insurances : Workmen’s Compensation 1,500 Preference- 9% 8,000 General, fire etc. 2,000 Creditors 1,56,000 Directors’ Life Insurance 1,500 Provision for Taxation 1,05,000 Maintenance : Buildings 1,000 Profit & Loss Account 13,750 Plant and Machinery 12,500 Rent and Rates of premises and hire of plant 20,000 Heat, Light and Power 15,000 Experimental and Laboratory Expenses 10,000 Canteen Expenses 5,000 Staff Welfare expenses 2,500 Motor Expenses 12,500 Professional Charges 2,800 Postage and Telephone 3,500 Books, Printing and Stationery 11,000 Sundry expenses 10,000 Carriage and Packing on Sales 3,300 Discounts 5,000 Debtors 1,78,000 Freehold Property 50,000 Plant and Machinery 12,500 Fixtures and Fittings – Offices 3,500 Office machinery and Equipment 3,000 Motor Car and Van 6,500 Stock of materials on 31st Dec. 2007 1,20,000 Bank 38,000 Sales Tax Paid 15,000 12,35,600 12,35,600 Depreciation is to be provided at the following rates: Plant and Machinery 10% Fixture and Fittings 05% Office Machinery, etc. 10% Motor Vans and Cars 25% The stock of finished goods and work in progress as on 31st December, 2007 was Rs. 35,000. Provide for preference dividend and ordinary dividend at 10%. The total taxation liability is estimated at Rs.1,50,000 of which Rs. 75,000 relates to the current year. Debtors include Rs. 10,000 deposited as security against government contracts. The Works Manager is paid partly by salary and partly by a commission; he is entitled to a commission of 5% on the amount by which the surplus in the factory cost exceeds 20% of the sales for the period. Charge the commission if any in the Profit and Loss Account.
WHAT ENTRY SHOULD WE PASSED IN BOOK A PERSON HAVING SALARY BASIC 10000.00 HRA 4000 PF 1500.00
what is Ratio Analysis ?
What are the things are not Included in Annual Reports?
What is the accounting treatment for TDS and service tax?
hedge fund, hedging
wat is penny stock?
Audit 
