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PETTY CASH BOOK. Pre-Learning. Debit & Credit rules Debit the Receiving – opening balance, imprest Credit the Giving – expenses paid Balancing Rules Balance in on the short side Total each side Bring down the balance to the opposite side Headings for Petty Cash Book
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Pre-Learning • Debit & Credit rules • Debit the Receiving – opening balance, imprest • Credit the Giving – expenses paid • Balancing Rules • Balance in on the short side • Total each side • Bring down the balance to the opposite side • Headings for Petty Cash Book • Analysis headings given in question • All expenses go into the Total column + one analysis column Analysis Headings
Petty Cash Sample Q1 • Record the following transactions in the petty cash book: • 1/1/2012 Opening Petty Cash Book balance €200 • 3/1/2012 Postage €2.50 Voucher No. 1 • 5/1/2012 Taxi €7.50 Voucher No. 2 • 18/1/2012 Cleaning €12.00 Voucher No. 3 • 25/1/2012 Postage €5.50 Voucher No. 4 • Balance the account at the end of the month and restore the imprest • Use the following headings: Postage, Travel, Cleaning
1/1/2012 Opening Petty Cash Book balance €200 Petty Cash Book
3/1/2012 Postage €2.50 Voucher No. 1 Petty Cash Book
5/1/2012 Taxi €7.50 Voucher No. 2 Petty Cash Book
18/1/2012 Cleaning €12.00 Voucher No. 3 Petty Cash Book
25/1/2012 Postage €5.50 Voucher No. 4 Petty Cash Book
31/1/2012 Balance c/d Petty Cash Book
1. Balance in on the short side Petty Cash Book
2. Total Each Side Petty Cash Book
3. Bring down balance to opposite side Petty Cash Book
Restore the Imprest Petty Cash Book
Petty Cash Sample Q2 • Record the following transactions in the petty cash book: • 1/2/2012 Opening Petty Cash Book balance €200 • 3/2/2012 Paper €4.50 Voucher No. 11 • 5/2/2012 Bus fare €3.50 Voucher No. 12 • 18/2/2012 Detergents €21.00 Voucher No. 13 • 25/2/2012 Envelopes €5.50 Voucher No. 14 • Balance the account at the end of the month and restore the imprest • Use the following headings: Stationery, Travel, Cleaning