Cash book questions and answers

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This is the best place to ask your bookkeeping questions and receive relevant, detailed answers.Use the contact form and provide as much information as you can so that you get a complete answer.We will do our best to answer your question as quickly as possible.View questions below that have already been answered. Other Expenses QuestionsQ 1: The business owner has made some purchases with his own funds.

How should these expenses be recorded. If you continue browsing the site, you agree to the use of cookies on this website. See our User Agreement and Privacy Policy.Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. See our Privacy Policy and User Agreement for details. In thisThe petty cash book is a formal summarization of petty cash expenditures, sorted by date. In most cases, the petty cash book is an actual ledger book, rather than a computer record.

Thus, the book is part of a manual record-keeping system.There are two primary types of entries in the petty cash book, which are a debit to record cash received by the petty cash clerk (usually in a single block of cash at infrequent intervals), and a large number of credits to reflect cash withdrawals from the petty cash fund. These credits can be for such transactions as payments for meals, flowers, office supplies, stamps, and so forth.A somewhat more useful format is to record all debits and credits in a single column, with a running cash balance in the column furthest to the right, as shown in the following example.

This format is an excellent way to monitor the current amount of petty cash remaining onSlideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Top 1.




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