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The cash account in the company's ledger is Bank.
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The cash account in the depositor's ledger is a?
In the depositor's ledger, its cash account is an asset with a debit balance. Account assets also includes accounts receivable and inventories.
Why a cashbook is called Journalised ledger?
Cash book is a journal because the transactions are recorded in it for the first time from the source of document and from journal these transactions are posted to the respective account in the ledger. We can say cash book is a ledger also in the sense that it serves the purpose of cash account also.As such cash book is journal as well as ledger, and hence it may call journalised ledger.
Why are cash sales not recorded in the sales ledger control account?
a ledger account if made for credit sales.
What is cash deposit adjustment?
When you have cash deposit credit adjustment how do you post it to ledger account
How is cash cash book a both book of prime entry and ledger account?
how is cash book both a book of prime entr and an account
Is cash or miscellaneous a general ledger account?
The information below relates to the Cash account in the ledger of Robertson Company.
The cash account in the depositor's ledger is a?
In the depositor's ledger, its cash account is an asset with a debit balance. Account assets also includes accounts receivable and inventories.
Why a cashbook is called Journalised ledger?
Cash book is a journal because the transactions are recorded in it for the first time from the source of document and from journal these transactions are posted to the respective account in the ledger. We can say cash book is a ledger also in the sense that it serves the purpose of cash account also.As such cash book is journal as well as ledger, and hence it may call journalised ledger.
Why are cash sales not recorded in the sales ledger control account?
a ledger account if made for credit sales.
What is cash deposit adjustment?
When you have cash deposit credit adjustment how do you post it to ledger account
How is cash cash book a both book of prime entry and ledger account?
how is cash book both a book of prime entr and an account
What is cash deposit credit adjustment?
When you have cash deposit credit adjustment how do you post it to ledger account
Are the cash account and bank account in the general ledger the same or two separate accounts?
The cash account and bank account in the general ledger are not the same. They are usually two separate accounts that represent different transactions. If they were to be the same account there would be confusion for instance when banking or withdrawal of money is done.
What is the difference between cash book and cash account?
Cash Account :- 1. Is an account in the ledger. 2. Cash account is part of the ledger. Cash account is opened in the ledger in which posting is done from some book of original entry. 3. In cash account posting is not followed by narration. 4. It only records one aspect of transaction involving cash & bank. Cash Book :- 1. Is a separate book of account forming a part of accounting system. 2. Cash book records entries directly from transaction & there is no need for a book of prime entry. 3. In cash book entries are followed by narration also. 4. It records both the aspect of this transaction in cash & bank columns to complete double entry posting.
The relationship between the amounts on the adjusted trial balance for an account and its ledger?
The adjusted trial balance reflects the balance of each account on the ledger. If there is a $1000 debit to Cash and a $200 credit to Cash in the same accounting period, the balance on the ledger will be $800 Cash. This $800 Cash balance will be reflected on the adjusted trial balance. In sum, the adjusted trial balance reflects the net of an account each accounting period.
After posting the journal entries to the ledger what is the balance of the cash account?
In order to answer this question, you would need to know the amounts that were originally provided in the account balance and the ones that were booked in the ledger.
Difference between ledger balance and available balance?
The available balance refers to the cash that can be withdrawn from the given account. The ledger balance on the other hand refers to the amount that is available in the account.
