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PETTY CASH BOOK

PETTY CASH BOOK. Pre-Learning. Debit & Credit rules Debit the Receiving – opening balance, imprest Credit the Giving – expenses paid Balancing Rules Balance in on the short side Total each side Bring down the balance to the opposite side Headings for Petty Cash Book

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PETTY CASH BOOK

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  1. PETTY CASH BOOK

  2. Pre-Learning • Debit & Credit rules • Debit the Receiving – opening balance, imprest • Credit the Giving – expenses paid • Balancing Rules • Balance in on the short side • Total each side • Bring down the balance to the opposite side • Headings for Petty Cash Book • Analysis headings given in question • All expenses go into the Total column + one analysis column Analysis Headings

  3. Petty Cash Sample Q1 • Record the following transactions in the petty cash book: • 1/1/2012 Opening Petty Cash Book balance €200 • 3/1/2012 Postage €2.50 Voucher No. 1 • 5/1/2012 Taxi €7.50 Voucher No. 2 • 18/1/2012 Cleaning €12.00 Voucher No. 3 • 25/1/2012 Postage €5.50 Voucher No. 4 • Balance the account at the end of the month and restore the imprest • Use the following headings: Postage, Travel, Cleaning

  4. 1/1/2012 Opening Petty Cash Book balance €200 Petty Cash Book

  5. Petty Cash Book

  6. 3/1/2012 Postage €2.50 Voucher No. 1 Petty Cash Book

  7. Petty Cash Book

  8. 5/1/2012 Taxi €7.50 Voucher No. 2 Petty Cash Book

  9. Petty Cash Book

  10. 18/1/2012 Cleaning €12.00 Voucher No. 3 Petty Cash Book

  11. Petty Cash Book

  12. 25/1/2012 Postage €5.50 Voucher No. 4 Petty Cash Book

  13. Petty Cash Book

  14. 31/1/2012 Balance c/d Petty Cash Book

  15. 1. Balance in on the short side Petty Cash Book

  16. 2. Total Each Side Petty Cash Book

  17. 3. Bring down balance to opposite side Petty Cash Book

  18. Restore the Imprest Petty Cash Book

  19. Petty Cash Sample Q2 • Record the following transactions in the petty cash book: • 1/2/2012 Opening Petty Cash Book balance €200 • 3/2/2012 Paper €4.50 Voucher No. 11 • 5/2/2012 Bus fare €3.50 Voucher No. 12 • 18/2/2012 Detergents €21.00 Voucher No. 13 • 25/2/2012 Envelopes €5.50 Voucher No. 14 • Balance the account at the end of the month and restore the imprest • Use the following headings: Stationery, Travel, Cleaning

  20. Petty Cash Book

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