What is the journal entry for petty cash?

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Solution

The journal entry for petty cash is as follows:

Petty cash account Dr

Cash account Cr.

Also read:

Cash Book

Cash Flow Statement

Ledger in Accounting

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Q. A Petty Cashier in a firm received ₹ 15,000 as the petty cash imprest on 4th June, 2018. During the week, his expenses were as follows:

2018		₹
June 4	Conveyance charges for Manager's trip to the city	500
June 4	Wages to casual labourers	1,500
June 5	Bus fare to workmen sent to customer's premises	200
June 5	Stationery purchased for ₹ 1,000 plus CGST and SGST @ 6% each
June 6	Sent documents to Head Office by registered post	400
June 6	Postage stamps purchased	1,000
June 6	Revenue stamps for payment of wages	500
June 7	Repair of printer	400
June 7	Paid electricity bill	1,700
June 8	Wages paid to coolies for shifting furniture, etc.	400
June 8	Taxi fare to Assistant Manager	500
June 8	Letters by registered post sent to different suppliers	1,000
June 8	Locks purchased for ₹ 800 plus CGST and SGST @ 6% each
June 8	Stationery purchased for ₹ 400 plus CGST and SGST @ 6% each
June 8	Refreshments to customers	200

Write up the Analytical Petty Cash Book and draft the necessary Journal entries for the payments made.

Q. With Goods and Services Tax (GST)

A Petty Cashier in a firm received ₹15,000 as the petty cash imprest on 4th June, 2017. During the week, his expenses were as follows:

2017		₹
June 4	Conveyance charges for Manager's trip to the city	500
June 4	Wages to casual labourers	1,500
June 5	Bus fare to workmen sent to customer's premises	200
June 5	Stationery purchased for ₹1,000 plus CGST and SGST @ 6% each
June 6	Sent documents to Head Office by registered post	400
June 6	Postage stamps purchased	1,000
June 6	Revenue stamps for payment of wages	500
June 7	Repair of typewriter	400
June 7	Paid electricity bill	1,700
June 8	Wages paid to coolies for shifting furniture, etc.	400
June 8	Taxi fare to Assistant Manager	500
June 8	Letters by registered post sent to different suppliers	1,000
June 8	Locks purchased for ₹800 plus CGST and SGST @ 6% each
June 8	Stationery purchased for ₹400 plus CGST and SGST @ 6% each
June 8	Refreshments to customers	200

Write up the Analytical Petty Cash Book and draft the necessary Journal entries for the payments made.

Q. Journal entry for cash handed over to the petty cashier is :-
Petty Cash A/c Dr.
To Cash A/c

Which of the following journal entries records petty cash expenses?

Claire wants to establish a Rs250 petty cash fund for her business. She requested a cheque for Rs250. What is the correct journal entry to record the transaction?

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What is the journal entry for petty cash?

The journal entry for petty cash is as follows: Petty cash account Dr Cash account Cr. Also read: Cash Book Cash Flow Statement Ledger in Accounting Learn about more commerce questions and answers from different topics in business studies, economics and accountancy from our website.

The journal entry for petty cash is as follows:

Petty cash account Dr

Cash account Cr.

Also read:

Cash Book

Cash Flow Statement

Ledger in Accounting

Learn about more commerce questions and answers from different topics in business studies, economics and accountancy from our website.