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

What is asset cost and estimated residual value, Q. What is Asset cost and ...

Q. What is Asset cost and Estimated residual value? Asset cost: The asset cost is the sum that a company paid to purchase the depreciable asset. Estimated residual value:

Consistency in accounting principle, Q. Consistency in accounting principle...

Q. Consistency in accounting principle? Consistency necessitates that a company use the same accounting principles and reporting practices through time. Consistency makes possi

.ratios, why would a bank be interested in the investment ratios of its cus...

why would a bank be interested in the investment ratios of its customer firms..

Help, Upper D minus Mobile Wireless needed additional capital to? expand,...

Upper D minus Mobile Wireless needed additional capital to? expand, so the business incorporated. The charter from the state of Georgia authorizes Upper D minus Mobile to issue

Consumers, Consumers and others: Consumers' organizations, welfare organiz...

Consumers and others: Consumers' organizations, welfare organizations, media and public at huge are also interested in condensed accounting information so as to appraise the effic

Define about assets and liabilities, Q. Define about Assets and Liabilities...

Q. Define about Assets and Liabilities? Assets are feasible future economic benefits obtained or controlled by a particular entity as a result of past events or transactions.

Maplehurst company, Q. Maplehurst Company? Maplehurst Company manufactu...

Q. Maplehurst Company? Maplehurst Company manufactures huge spinning machines for the textile industry. The company had purchased USD 100000 of small hand tools to utilize in i

Neutrality of accounting information, Q. Neutrality of accounting informati...

Q. Neutrality of accounting information? The Neutrality signifies that the accounting information must be free of measurement method bias. The primary concern must be relevance

Assets, list me all the asset in the world?

list me all the asset in the world?

In accounting, 1. what is accounting ? 2. what should we/i do to know accou...

1. what is accounting ? 2. what should we/i do to know accounting 3. what are the basics of accounting? 4 is accounting is hard ?

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages