Interested to Buy Any Domain ? << Click Here >> for more details...
3- Does petty cash book link to cash book, explain?
- 1 Answers
- 2690 Views
- I also Faced
- E-Mail Answers
Answer Posted / aqeel raza
Petty cash book is the part of cash book, it maintains to record small transactions such as conveyance, cartage, entertainment, postage, small repairs, etc.
Petty cash fund is issued by cash book debiting petty cash funds account. The petty cash fund decrease cash from cash book and increase cash in petty cash book. Petty cash expenses are paid through petty cash voucher and recorded into petty cash book in specific column and many other accounts which have no column is written in other account.
Having been paid expenses, the total of each account is journalized into ledge as petty cash expenses; head wise debt and petty cash fund credit. The ledger balance becomes equal to petty cash book balance and for the same way the fund issued and spends.
In other words, we can say the petty cash book is the sub book of cash book.
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
What is the abbreviation for the accounting terms debit and credit?
I TRANSFERRED A STOCK OF RS. 100.00 FROM HEAD OFFICE DELHI TO MFG. UNIT OFFICE AT HARYANA AGST FORM F.AT BRANCH GOODS ARE PROCESSED AND ADDED VALUE OF RS. 80.00 AND TRNF BACK TO DELHI HEAD OFFICE FOR RS. 180.00 AGST FORM F FROM HARYANA . AND HEAD OFFICE SOLD THIS TO PARTY AT RS. 200.00 . I WANT TO KNOW HOW TO MAKE ACCOUNTING ENTRIES IN BOTH BOOKS HEAD OFFICE AND BRANCH OFFICE. TO SETTEL ACCOUNT AND TO CONSOLIDATE THE BOOKS AT THE END OF YEAR.
Tell me what is working capital?
Real,Nominal or Personal. Where do reserves, general reserve and Specific Reserve Go? and why?
PRELIMINARY EXPENSES INCURRED IN THE YEAR OCTOBER 2012 MONTH 5LAKS WHICH ACCOUNTED IN ASSET SIDE AS ''PRELIMINARY EXPENSES''... IN YEAR END MARCH 2013, IN 5LAKS HOW MUCH AMOUNT SHOULD TAKE FOR PRELIMINARY EXPENSES WRITTEN OFF..?
If a consultant charged his fee n receive so can i pass the journal entry n how i can i maintain bal sheet
Explain some of the accrued expenses and the accounts in which you would record them?
WHAT IS NPF IN ACCOUNTS. AN ENTRY IN BANK STATEMENT" NPF SOME NAME XXXX DR SIDE" PLEASE ANSWER WHAT IS NPF?
What is capital adequacy ratio? What is demat account?
Tell us do you possess any knowledge about accounting standards?
What is the difference between trial balance and general ledger?
What is accounting for plant assets?
dear i want basic a\C's oriented question. these are asking in mostly all mnc companies
Who uses accounting?
entry for cash received from debtors
