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What is the usual balance of the account Cash Short and Over?
debit
Cash over and short is an expense account?
Yes. See http://www.principlesofaccounting.com/chapter%206.htm#Petty%20cash and find "Short and Over" for more info.
A 100 petty cash fund has cash of 18 and receipts of 80 The journal entry to replenish the account would include what?
receipts 80 Cash Short(Over) 2 Cash 82
Is cash in transit account receivable or cash account?
why do you debit cash account and credit receivables for cash in transit
What does ODC mean in account?
over drwan cash Harisha M.K. Mundre
What is the usual balance of the account Cash Short and Over?
debit
Amount of cash overages for a period exceeds the amount of cash shortages the balance in the account cash short and over will be?
credit
Cash over and short is an expense account?
Yes. See http://www.principlesofaccounting.com/chapter%206.htm#Petty%20cash and find "Short and Over" for more info.
A 100 petty cash fund has cash of 18 and receipts of 80 The journal entry to replenish the account would include what?
receipts 80 Cash Short(Over) 2 Cash 82
What cash flow?
Cash flow is revenue or expenses stream that changes a cash account over or given period.
Would idle cash in a bank checking account classified as a short term investment?
No, idle cash in a bank checking account is not considered a short-term investment. It is simply cash that is not being actively used or invested. Short-term investments typically refer to assets that are expected to be converted into cash within a year, such as Treasury bills or money market funds.
Is it a good business practice to maintain a large balance in cash account as possible?
No; convert the cash into cash equivalents (like short-term CDs instead)
What is cash account?
what is a cash account
Is cash in transit account receivable or cash account?
why do you debit cash account and credit receivables for cash in transit
Which accounts are involved in the following enteries Dixon opened a bank account in the name of the business by depositing 50000 cash which he had saved over a number for years?
[Debit] Bank Account 50000 [Credit]Cash Account 50000 Bank account as well as cash accounts are involved in this transaction.
What does ODC mean in account?
over drwan cash Harisha M.K. Mundre
What are the reasons to use credit cards?
When you don't have cash available. For buying goods online. For buying things over the phone. As a short term loan. If you don't like carrying cash around with you, you can lodge it into the account and use the card to spend it, particularly when buying something that needs a lot of cash.
