That all depends on who you owe the money to. Petty cash is basically a small amount of cash that can be used by employees to buy miscellaneous goods such as girl scout cookies or that cleaner people always come to your office to try and sell. Once the money is taken, they have to deposit a slip of paper telling how much money was spent by who, and what did that money purchase. If you buy something small for the business or other employees with the money from petty cash, that IOU is part of petty cash. However, if you have an IOU (I Owe You) towards another business, it is considered to be an Account Payable because you purchased goods with money that you promise them within the next 30 or so days.
It is part of office equipment
cash in bank is current assests
Operating activities
cash is not net income,it is part of wealth and can be used further in earning profit.
depreciation is not part of cash flow statement and in indirect method for cash flow it will be added back to cash flow from operating activities.
Assuming you are asking about an "Imprest" Petty Cash account with a nominal balance of $174, an actual cash content of $25, and receipts representing $137 in legitimate purchases, the entry would be something like the following: Debit Expense Accounts (itemized according to nature of receipts): $137Debit Expense Account "Petty Cash Shrinkage" (or whatever it is called in your system): $12Credit Petty Cash: $149Note: Recognize Petty Cash Expense Debit Petty Cash: $149Credit Checking (or wherever you get the cash from): $149Note: Restore Petty Cash to Imprest level ($174) OR the composite equivalent entry: Debit Expense Accounts (itemized according to nature of receipts): $137Debit Expense Account "Petty Cash Shrinkage": $12Credit Checking: $149 Hope this helps
Type your answer here... Petty cash book is a part of accounting cycle It is prepaid for the normal daiy expenditres of the organization. petty cash book means a book in which minor cash expences are booked. it is acctually prepaid to handle the cash of the organization.
It is part of office equipment
Discipline. You have to set anacceptable amount to have on hand, and replenish it as quickly as possible after you have "borrowed" from it. The source of that cash is the key factor in your ability to maintain it. For example, emptying your pockets every night and putting all of your change in a jar. In business, petty cash doesn't magically appear. It is part of the budget, planned for and replenished according to the amount of money designated and the amount of time it should last.
The cash the fund uses to pay the dividend is considered an asset of the investment trust. Before it is paid out, that value is added to the value of the stocks/bonds held to calculate the NAV. Once the money is paid out, it is no longer counted as part of the investment trust, thus the NAV goes down by the amount of the dividend. Example. Mutual fund A has $100 worth of stock, $50 in cash and 100 shares outstanding. It's NAV is $1.50. It pays a total dividend of $50. So now the fund has $100 worth of stock, no cash, and 100 shares outstanding. It's NAV will be $1.00.
A bond sinking fund is reported in the section of the balance sheet immediately after the current assets. The bond sinking fund is part of the long-term asset section that usually has the heading "Investments." The bond sinking fund is a long-term (noncurrent) asset even if the fund contains only cash. The reason is the cash in the fund must be used to retire bonds, which are long-term liabilities. In other words, because the money in the bond sinking fund cannot be used to pay current liabilities, it must be reported outside of the working capital section of the balance sheet. (Working capital is current assets minus current liabilities.)
The word petty is an adjective. It describes something that is of little importance. For example, if you could not find a paper clip, that would be a petty loss.
cash in bank is current assests
emergency = adjective cash = noun
Yes
emergency = adjective cash = noun
Mutual fund stock management is the activity of buying and selling stocks as part of the money invested by customers in a fund. It is usually done by the fund manager and supervised by the asset management company