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3106 results for "petty cash"

A current asset account that represents an amount of cash for making small disbursements for postage due, supplies, etc.

What is petty cash? Author: Harold Averkamp, CPA, MBA Definition of Petty Cash Petty cash or a petty cash fund is a small amount of money available for paying small expenses without writing a check. Petty Cash is also...

A request by the petty cash custodian for a company check in order to return the amount of currency and coins in the petty cash box to the amount shown in the general ledger account.

What is a petty cash voucher? Author: Harold Averkamp, CPA, MBA Definition of Petty Cash Voucher A petty cash voucher is usually a small form that is used to document a disbursement (payment) from a petty cash fund....

What is an imprest system of petty cash? Author: Harold Averkamp, CPA, MBA Definition of Petty Cash Petty cash refers to a small amount of currency and coins that a company uses to pay small amounts without writing a...

How does petty cash affect expenses? Author: Harold Averkamp, CPA, MBA Definition of Petty Cash Petty cash is a small amount of currency and coins that a company has available to make very small payments instead of...

How do I start a petty cash fund? Author: Harold Averkamp, CPA, MBA Definition of Petty Cash Fund A petty cash fund is a small amount of money available to pay small amounts without requiring the processing of a business...

account might be used by: A bank to record daily differences (if any) between a teller’s actual cash at the end of the day versus the expected amount of cash based on checks cashed, deposits received, etc. A company...

A term associated with petty cash. Replenish means to return the amount of actual cash in the petty cash box back to the amount appearing in the general ledger account Petty Cash. This is done whenever the amount of...

A constant or unchanging amount that is often used when referring to petty cash. For example, if the petty cash account in the general ledger has an imprest balance of $100, the account balance will be a constant $100....

A miscellaneous expense account used to record the difference between the amount of cash needed to replenish a petty cash fund and the amount of petty cash receipts at the time the petty cash fund is replenished.

is the significance of FOB Shipping Point and FOB Destination? What is petty cash? What is a trial balance? What is a journal entry? What are prepaid expenses? What are accrued expenses and when are they recorded? What...

What is included in cash and cash equivalents? Author: Harold Averkamp, CPA, MBA Examples of Cash In accounting, a company’s cash includes the following: currency and coins checks received from customers but not yet...

the financial statements? What is an imprest system of petty cash? What is Notes Payable? What are balance sheet accounts? Is income tax an expense or liability? What type of account is the Dividends account? What is...

, currency, and undeposited checks from customers (if the checks are not postdated) Petty cash Cash equivalents, such as U.S. Treasury Bills which were purchased within 90 days of their maturity Temporary investments,...

account? What is a purchase allowance? What is a contra expense account? How is petty cash reported on the financial statements? What is an asset account? What is a valuation account? What does it mean to reclassify an...

a key component of a company’s working capital and the current ratio. Examples of Current Assets Examples of current assets and the typical order of liquidity include: Cash and cash equivalents (which includes...

is the distinction between debtor and creditor? What is the cost of goods sold? What is owner's equity? What is the difference between the cash basis and the accrual basis of accounting? What is petty cash? What...

Our Explanation of Bookkeeping provides you with a rich understanding of the recording of transactions. It then discusses the additional steps necessary for preparing accurate financial statements. This is great for...

Our Explanation of Chart of Accounts shows how a typical chart of accounts is organized and examples of possible account numbering. It concludes with a quick review of debits and credits.

.? What is a deferred credit? Is contributed capital a noncurrent asset or a current asset, and is it a debit or credit? Where do I record the refund of a registration fee? How do I start a petty cash fund? What is the...

Our Explanation of the Balance Sheet provides you with a basic understanding of a corporation's balance sheet (or statement of financial position). You will gain insights regarding the assets, liabilities, and...

Our Explanation of Working Capital and Liquidity provides you with an in-depth look at the components of working capital and the challenges of converting current assets to cash before obligations come due. You will see...

A current asset account which includes currency, coins, checking accounts, and undeposited checks received from customers. The amounts must be unrestricted. (Restricted cash should be recorded in a different account.)

What is a cash cow? Author: Harold Averkamp, CPA, MBA A cash cow is often a profitable product or service that dominates a market and generates far more cash than is needed to maintain its market position. Companies may...

The cash flow from operating activities minus the amount of capital expenditures. Other variations are also used. To learn more, see Explanation of Cash Flow Statement.

What is a cash discount? Author: Harold Averkamp, CPA, MBA Definition of Cash Discount A cash discount is a deduction allowed by some sellers of goods or by some providers of services in order to motivate customers to...

One of the main financial statements (along with the income statement and balance sheet). The cash flow statement reports the sources and uses of cash by operating activities, investing activities, financing activities,...

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