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What is meant by purchase return books?

Purchase returns book is a book in accounting where the goods that are returned to the supplier are recorded. It... View Article

A cash book records all the cash transactions taking place in a business. These also include bank deposits and withdrawals.... View Article

No, cash purchases are not recorded in the purchase book, as the function of a purchase book is to record... View Article

Purchase book is a special purpose subsidiary book that does not have debit and credit columns. Also read: Cash Book... View Article

No, a purchase book is a special purpose subsidiary book and a journal that records all the credit purchases of... View Article

The purchase book is used to record the credit purchases made by the firm. It is a special purpose subsidiary... View Article

A purchase book is a book that records all the invoices for goods that are purchased by the firm or... View Article

The journal entry for petty cash is as follows: Petty cash account Dr Cash account Cr. Also read: Cash Book... View Article

Imprest is a cash account on which a business relies for paying off small or minor expenditures and the amount... View Article

It can be calculated using the following formula Cash in petty cash box = Petty cash at starting – Vouchers... View Article

Postage refers to the money used for buying stamps for office use. Also read: Cash Book Cash Flow Statement Ledger... View Article

PCV stands for Petty Cash Voucher. It is used as a receipt in case of withdrawal from the petty cash... View Article

The other type of petty cash book that is present apart from simple petty cash book is the columnar or... View Article

The other name for columnar petty cash book is analytical petty cash book. Also read: Cash Book Cash Flow Statement... View Article

No, imprest is not a type of cash book. It is the system of cash reimbursement that is made by... View Article

The preferred method of petty cash reimbursement is through the issue of cheques. Also read: Cash Book Cash Flow Statement... View Article

An imprest amount is the amount that is provided to the petty cashier by the chief cashier at the starting... View Article

Petty cash funds should be reimbursed at the end of an accounting period or as and when the balance becomes... View Article

The disadvantages of the petty cash book are as follows: Petty cash is prone to accounting errors due to a... View Article

The petty cash account is a current asset and is recorded as a debit in the balance sheet. Also read:... View Article