Distinguish between cash book and bank balance.

Q: Required: You expected to prepare a cash book

A: Cash book is the book in which all the transactions of the business which are in cash means all the…

Q: What is the purpose of the cash receipts journal?

A: MEANING : PURPOSE: It is used to track the sales of items while cash is being received, by…

Q: Make cash receipts jounal

A: Journal entry: A journal entry is used to record day-to-day transactions of the business by…

Q: An NSF check returned by the bank should be entered in the depositor's accounting  records by a…

A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…

Q: Define the Note Issued for Cash.

A: Promissory Note:   A promissory note is a legal and financial tool that contains a written promise…

Q: Cash in bank account balance Bank statement balance Bank debits Bank credits Peol dehit

A: Reconciliation Statements-:A Reconciliation Statement is a statement that commences with a firm's…

Q: Why may there be a difference between the bank statement ending cash balance and the ending balance…

A: Timing differences: When accounting records are maintained by both bank and business, time interval…

Q: Instructions Prepare a schedule of cash payments.

A: Schedule of cash payments:   It is a statement to report the expected cash payments to be done by…

Q: pare Journal Entry to establish Petty Cash Fund

A: Meaning of Petty Cash book: It is the subsidiary book of main cash book where all the small day to…

Q: Which type of source document is best for providing evidence of disbursements of funds from petty…

A: Source documents are those documents which have the physical basis and upon which the transactions…

Q: How can a proof of cash reveal unrecorded cash deposit and cash payment transactions?

A:

Q: Define cash disbursements journal.

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Proof of Cash

A: as stated in question

Q: Define cash receipts journal.

A: Journal: Journal is the book of original entry. Journal consists of the day-to-day financial…

Q: Prepare a flowchart of a cash receipts procedures described in the problem.

A: Definition: Accounts receivable can be referred to as the amount which is due from the customers of…

Q: What is the balance in cash after these transactions are journalized and posted?

A: Only cash transactions are to be considered.  We will start with the opening balance of cash. We…

Q: Show the relationship of cashin the bank to the varioustransaction cycles.

A: Following are the three broad transaction cycle process regarding the economic events of an…

Q: Which of the following statements are true regarding the control of cash receipts and cash payments?…

A: To control cash receipts and cash payments, Over-the-counter cash sales should be recorded on a cash…

Q: What is the adjusting entry for Bank Reconciliation: Debit Memo- Cost of Checkbook

A: A debit memo issued to customer for cost of checkbook will reduce the account balance of the…

Q: what is procedure to posting account payab

A: Answer : The cash disbursement Journal is an  Accounting Form used to record all the cash outflow.…

Q: 1. Prepare the journal entry to establish the petty cash fund.

A: Journal Entries are as follows:

Q: why is there generally a difference between the balance in a cash account on the company's books and…

A: The statement of Bank reconciliation is a report that matches the money balance on an organization's…

Q: When cash is debited, a typical credit is to O Accounts receivable Withdrawals O Expenses O Accounts…

A: "We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Why should the person in charge of cash receipts not also be in charge of keeping accounts…

A: Here is the answer :

Q: Cash Receipts

A: As stated in question

Q: what is procedure to posting account payable ledger in cash disbursements system

A: Accounts payable forms a part of current liabilities and represents the amount that the entity owes…

Q: Record the transactions in the cash receipts and cash payments journals. Foot and crossfoot the…

A: Cash receipt and cash payment journals are the specific types of journals prepared during the entire…

Q: Write note on cash and cash equivalents with example.

A: Cash and cash equivalents:   Cash and cash equivalents refers to the line items in the balance…

Q: Prepare Cash Disbursement for  purchases

A: Cash disbursement can be defined as the outflow of cash from the business. It arises due to…

Q: Describe and use the cash receips journal. What steps are followed in posting from the cash receipts…

A: Cash Receipts Journal:   It is a special book where only cash receipts transactions that are…

Q: What steps are followed in posting from the cash receipts journal to the general ledger?

A: (1) Cash receipts journal can also be called as the accounting journal that is considered as the…

Q: Why should sales to and receipts of cash from credit customers be recorded and posted immediately?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: cash transactions

A: When cash word , cheque word  are given in transaction are considered as cash transactions. Some…

Q: cash receipt journal

A:

Q: What's the entry for the cash receipt journal?

A: Journal entry is the entry which the business records normally on the journal but as there are…

Q: Required Prepare the CASH RECEIPTS JOURNAL  Prepare the CASH DISBURSEMENTS JOURNAL

A: Accounting cycle. It can be defined as the process which involves identification, analysis,…

Q: State and explain the reasons for the difference between cash book and bank statement

A: Definition:   Bank reconciliation: Bank statement is prepared by bank. The company maintains its own…