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Petty cash is current asset and shown under cash in hand section of balance sheet in asset side.
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∙ 10y ago
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Is Cash an asset or liability?
Asset.
Petty cash in till asset or liabilities?
asset
Is a petty cash account an asset with a normal credit balance?
Petty Cash is an asset account with a normal Debit balance.
Is cash on hand an asset?
Cash on hand is an asset. It will be included as a current asset and is often called "petty cash"
Cash at the bank as an asset and as a liability?
ASSET
Is Cash an asset or liability?
Asset.
Petty cash in till asset or liabilities?
asset
Is a petty cash account an asset with a normal credit balance?
Petty Cash is an asset account with a normal Debit balance.
Is cash on hand an asset?
Cash on hand is an asset. It will be included as a current asset and is often called "petty cash"
ARE Cash discounts AN asset or liability?
Cash discounts are a liability.
Cash at the bank as an asset and as a liability?
ASSET
The type of account and normal balance of Petty Cash is a?
Petty Cash is a current asset (it both has value and is liquidated in less than 12 months). Since Petty Cash is an asset, its normal balance is a debit, as asset accounts are debits.
Is the cash dividend paid asset or liability?
is an asset
Is cash an asset liability or owners equity?
asset
Is cash an asset liability or equity?
asset equity
Is cash at the bank an asset or liability?
Cash at the bank is an asset for you but a liability for the bank if it is held in a checking or regular savings account.
What an example of a decrease in an asset and a decrease in a liability?
Paying A/P: Decrease in Cash (Asset), Decrease in A/P (Liability)
