replenishing the petty cash funddebit every
Replenishing the Petty Cash Fund
Debit every expense account, supplies, or drawing as needed. Credit to Cash. Petty Cash is only debited when fund is established or increased.
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posting closing entrieswhen closing entries are entered in the general journal they must appear on the next line after adjusting entries the words
what is post closing trial balancethis statement would only show permanent accounts with a balance all temporary accounts must have a zero balance
what is internal control - control of cashinternal control refers to procedures and methods a business uses to protect its assetschecks are written
explain about the petty cashpetty cash it is a small amount of money which is kept in the office for making small expenditures 10 25 50 etc business
replenishing the petty cash funddebit every expense account supplies or drawing as needed credit to cash petty cash is only debited when fund is
what is the change fundbusiness that have many cash transactions generally establish this fund which is an amount of money which is placed in the
establishing the change fund change fund asset is debited and cash is credited only time this fund would be used is if the fund is established or
explain the term- cash short and overthis account is used to record both a shortage and overage of cash in cash drawer when change is made during a
importance of the bank statementbank sends out bank statements each month its significant that this statement and checking account balance balances
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