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the loss after depreciation incurred during the year is called as cash loss
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∙ 11y ago
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What is journal entry for unrealized loss?
Debit loss accountCredit cash / bank
What is the journal entry for the cash stolen from cash box?
Debit: Profit & Loss Account Credit: Cash In Hand or Petty Cash Nature of Debit is Expense and the nature of Credit is Asset. Expense Increased and Asset Decreased If you have an account already open for such Losses then you should debit such account. For example in my company Cash loss is usual Case so we have an Account titled "Cash Lost Expense" In my cash I will pass the entry as Debit: Cash Lost Expense Credit: Cash in Hand or Petty Cash
What is the difference between cash accounting profit and loss and accrual accounting profit and loss?
Cash accounting and accrual accounting are two methods of accounting in cash accounting system all expenses and revenues are recorded when actual cash is paid or received while in accrual profit and loss statement, revenues and expenses are recorded when they are actually occurred and timing of receipt and payment of cash is not important.
What is the difference between a cash budget and a budgeted profit and loss account?
Cash budget estimates the cash inflows and outflows and net cash available for specific period while budgeted profit and loss is the estimated statatement for planning purpose before actual activity starts.
What happens when a company has a net loss?
if a company reports a net loss it may still have a net increase in cash
is cash a balance or profit and loss?
loss
Cash theft and 90% received?
cash theft Dr. To recived cash To loss by theft
What is the effect in your daily life in our debt?
Loss of freedom Loss of cash flow Loss of time Loss of opportunities
In calculating cash flows from operating activities using the indirect method a loss on the sale of equipment is?
While calculating cash flow from operating using indirect method, Loss on sale of equipment is added back to net income as due to loss there is no cash outflow occurs.
What is journal entry for unrealized loss?
Debit loss accountCredit cash / bank
What is the journal entry for the cash stolen from cash box?
Debit: Profit & Loss Account Credit: Cash In Hand or Petty Cash Nature of Debit is Expense and the nature of Credit is Asset. Expense Increased and Asset Decreased If you have an account already open for such Losses then you should debit such account. For example in my company Cash loss is usual Case so we have an Account titled "Cash Lost Expense" In my cash I will pass the entry as Debit: Cash Lost Expense Credit: Cash in Hand or Petty Cash
What is the difference between cash accounting profit and loss and accrual accounting profit and loss?
Cash accounting and accrual accounting are two methods of accounting in cash accounting system all expenses and revenues are recorded when actual cash is paid or received while in accrual profit and loss statement, revenues and expenses are recorded when they are actually occurred and timing of receipt and payment of cash is not important.
What is the difference between a cash budget and a budgeted profit and loss account?
Cash budget estimates the cash inflows and outflows and net cash available for specific period while budgeted profit and loss is the estimated statatement for planning purpose before actual activity starts.
Is it possible to have a net loss during the year but a positive cash flow at the end of the year?
yes because the cash flow is in one day but the net loss is throughout the year.
What is the journal entry for the sle of an assett at a loss?
Debit cash / bankdebit loss on saleCredit fixed asset
Why the increase or decrease in cash is different to the profit or loss?
Cash does not equal profit. For example, a depreciation charge is a cost to the business, but no actual cash is expensed.
WILL i GET PAID THE CASH VALUE FOR MY TOTAL LOSS?
No,, You get paid "Fair Market Value", which is often the same as Cash value.
