Explain about the petty cash, Accounting Basics

Assignment Help:

Explain about the Petty Cash

Petty Cash It is a small amount of money which is kept in the office for making small expenditures. ($10, $25, $50, etc.) Business will conclude how much cash needs to be on hand.

  • It needs to be secure and with only one person in charge.
  • Vouchers should be kept to show usage.
  • There needs to be supporting documentation (Auxiliary Record) to summarize and record expenditures.

 


Related Discussions:- Explain about the petty cash

Difference among financial and taxable income , The following difference am...

The following difference among financial and taxable income were reported by Dider Corporation for the current year (a)    Excess of tax depreciation over book depreciation-------

Trading profit & loss, trial balance as at may 31 19*6 ...

trial balance as at may 31 19*6 dr cr sales 400000 purchases 350000 sales return 5000 purchases return

Acc 206 Week Two Assignment, #Please complete the following 7 exercises bel...

#Please complete the following 7 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculatio

The t/p bill for this month was 200, The t/p bill for this month was 200,th...

The t/p bill for this month was 200,the company will pay it next month what is the journal entry for this?

Accounting, I purchased equipment for 3,000 but only paid 1,000 of it and p...

I purchased equipment for 3,000 but only paid 1,000 of it and put rest of it on an account. how would I put that into a asset=liabilities+ owns equity equation?

Perdisco accounting assignment, i have an assignment fro perdisco platform ...

i have an assignment fro perdisco platform managing general entries of basic accounts will u guys be able to help with it

State the steps of merchandise inventory, State the steps of Merchandise in...

State the steps of Merchandise inventory 1) TRANSFER THE BEGINNING INVENTORY FIGURE Debit INCOME SUMMARY for beginning inventory amount. Credit MERCHANDISE INVENTORY fo

State the term - partnership, State the term - Partnership A partnershi...

State the term - Partnership A partnership exists where at least two individuals carry on a business together with intention of making a profit. Partnerships have much in commo

Limitations of ratio analysis, Limitations of Ratio Analysis :  In spit...

Limitations of Ratio Analysis :  In spite of the a variety of uses of ratio analysis, it go through from certain limitations, some of which are as under; 1.    Limited use

Advantage of a pre-inventory sale, Q. Advantage of a pre-inventory sale? ...

Q. Advantage of a pre-inventory sale? Have you still taken advantage of a pre-inventory sale at your favourite retail store Many stores offer bargain prices to decrease the mer

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd