petty cash journal grade 10 accounting

... 4. The petty cash fund is an amount, which is maintained by government office for making payments of small expenditures like refreshment, newspapers, postal stamp, taxi fare etc. 1. The cash book and the petty cash book. Miscellaneous Journal Voucher 10. Limits can be placed on the a… petty cash Petty Cash voucher 1.1.1 This document is used to record money received from a customer for a cash sale of stock to him 1.1.2 This document is used to record a credit sale to a customer 1.1.3 This document is used to deposit money into the bank account of the business 1.1.4 This document is used to pay a supplier for an Establish a petty cash fund Prepare a petty cash report Replenish a petty cash fund Classroom Guided Practice - Not Graded Daily homework related to each skill. Today, with the increased usage of business credit and employee expense accounts, the petty cash account may also encompass smaller expenses for which a formal requisition is not required. AGF No 3. Complete the reconciliation block and state any petty cash shortages or overages. You will use some of the basic knowledge that you acquired in the senior phase. The cash book and the petty cash book. st This question also appears in a self-test at the student companion website. The journal entry for giving the custodian more cash is a debit to the petty cash fund and a credit to cash. - Graded Chapter Assessment Accounting Double Entry System – Practice Question 04 This is a question from the grade 10 Business and Accounting Studies textbook. In each concept you will be taught all the necessary facts about a topic. 3,000 to create petty cash fund and handed it over to accountant Shyam Raut. The Petty cash Journal reflects R350 paid to KK Deliveries in respect of delivery expenses paid on behalf of a debtor. Journal Voucher 2. CHAPTER 7 FRAUD, INTERNAL CONTROL, AND CASH SUMMARY OF QUESTIONS BY LEARNING OBJECTIVES AND BLOOM’S TAXONOMY sg This question also appears in the Study Guide. Guidelines for the use of petty cash ensure the funds are used as management intends. person use. Under new accounting system, the record of advance is made twice as follows: Journal voucher at the time of giving advance. (SLC 2066) GRADE 10 TOPIC GENERAL JOURNAL Reader Compiled by Mr T Diale Review Date: December 2021 MaSci-Acc . The purpose of this guide is to assist teachers and learners in Grade 10 - 12 to manage and provide a detailed study of the Accounting processes. Advance transactions 9. Journal or Book of first entry and is used to group entries of a similar nature together, in this case all transactions where you pay money out (significant amounts only, small amounts are usually paid out via the Petty Cash Journal). These questions quickly and efficiently test what you know about petty cash accounting. Debtors Age analysis 5. Example. Petty Cash Payments ... ACCOUNTING GRADE 9 . Terminology 7 - 10 5. ... Purchase Journal, Sales Journal and General Journal. 25. Advantages of Petty Cash Book: Simple method: Recording of transactions in a petty cash book is easy. When cash is received, it should be posted as a credit in the cash receipts journal To keep an accurate accounting of cash that is received, lowering the risk of theft and missing money 2. The History of Accounting 11 - 14 6. Restoring the fund to $100 requires a check for $93.90 ($100 fund amount – petty cash remaining $6.10). The cashier creates a journal entry to record the petty cash receipts. 250 14 J Bildt paid the amount he owed by cheque, deducting cash discount, $40. Show the effect these transactions on the accounting equation. Continuous Homework Assessment 3 - 4 4. Raising Fund Level: When the volume of transactions to be handled by the petty cash grows, the fund level is raised. Find more similar flip PDFs like Accounting Grade 10 . All drawings by the owner that affect cash are recorded in the ... R250 from petty cash as well for private use. Correction of accounting … General Journal. INDEX . The petty cash journal entry is a debit to the petty cash account and a credit to the cash account. At the end of the accounting period, enter all vouchers in the petty cash journal. Grade 10; EG10_Acc(New) Topic outline. Past Papers. - Graded - From Textbook Classwork - Visual monitoring of student performance - Graded Periodic quizzes to demonstrate ability to solve problems. Petty Cash used : Petty Cash Voucher ... cash receipts journal. Then petty cash is replenished usually via a check. Enter the grand totals for all numerical columns at the bottom of the form. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Chapter 11 - Petty Cash book and imprest system In this chaper you will learn how to prepare a simple petty cash book and how the imprest system works. Search. Bank Reconciliation 3. LEARNER SUPPORT MATERIAL PAGE EXERCISE NUMBER PAGE SECTION 7 ... Cash Receipts Journal of Lakeview Restaurant for February 2006 (14) CRJ__02_ Doc Day Details Fol … Learn vocabulary, terms, and more with flashcards, games, and other study tools. Accounting Grade 10 Exemplar Year -end Question Paper MEMO TO QUESTION 1: 1.1 Purpose Name of document e.g. Accounting Grade 10 was published by khashane.doctor on 2015-05-30. Text Book File. Since the petty cash vouchers total only $92.60, the amounts do not agree and the fund is short $ 1.30 ($93.90 needed – $92.60 in vouchers). Our study guide will continue to guide you through your studies step-by-step. In Grade 10 Essentials: Accounting you will be working with an experienced Accounting teacher who will take you through the whole CAPS compliant Accounting curriculum step-by-step. 17 Cash was withdrawn from bank for office use. The petty cash custodian refills the petty cash drawer or box, which should now contain the original amount of cash that was designated for the fund. Recording in a Petty Cash Book does not require formal knowledge of accounting principles and techniques. See if you know how journal entries are used when accounting for petty cash. Bank CR Everything else DR ( except for Discount Received which is an income) Source documents - issue a cheque- keep the cheque counterfoil as source document, EFT There can be a payment to restore petty cash account to fixed amount Purchase Journal, Sales Journal and General Journal. SUMMARY OF QUESTIONS BY LEARNING OBJECTIVES AND BLOOM’S TAXONOMY SUMMARY OF LEARNING OBJECTIVES BY … The self-study guide deals with the following topics: 1. Trial Balance. At the end of each month, the petty cash fund is reimbursed. Nominal accounts 6. At the beginning of the fiscal year, the petty cash fund is created. For each voucher, enter the voucher number, date, total expenditure, and the type of expense. Correction of accounting errors. News forum. Control Accounts 4. Double Entry System of Book Keeping 4. Personal accounts 5. INDEX THEORY PAGE EXERCISE PAGE 2. Grade 10; Accountancy; Journal Voucher; Journal Voucher; Find Your Query Syllabus. General. The Accounting Equation 15 - 18 Activity A=O+L 19 - 25 Via Afrika Publishers » Accounting Grade 10 1 Introduction to Accounting Dear Learner Welcome to Grade 10. The entry for replenishment is: Real accounts 7. Petty Cash 13. Petty cash journal (PCJ) Debtors journal (DJ) Creditors Journal (CJ) Salaries journal (SJ) General journal (GJ) On behalf of Via Africa we hope you are going to enjoy the journey with us. The cash book and the petty cash book. General. Start studying Accounting Grade 10. End of fiscal year 14. Bank Account and the bank reconciliation statement. Prior to the increased acceptance of credit cards and electronic payments, petty cash was kept on hand for small purchases. The journal entry is to debit the petty cash and credit cash at bank. debtors journal/creditors journal. Search. Teacher's Guide File. Company A created a petty cash fund of $900 on Jan 1, 2012. cash payments journal. 6 Cash was withdrawn from bank for office use 300 8 Paid S Ghalli by cheque after deducting cash discount of $15. Budget Release 12. 013 of Rs. This document records payments made out of petty cash Petty Cash voucher 1.1.1 This document is used to record money received from a customer for a cash sale of stock to him Cash … Imprest System 11. Chapter 06 – Activity 04 – page, 76 The following cash book has been prepared by the accounting clerk of Sameera’s business Read more… Chapter 12 - Sales Journal and Sales Return Journal CASH AND CREDIT TRANSACTIONS . Check Pages 1 - 50 of Accounting Grade 10 in the flip PDF version. The journal entry is: Term 1 Topic 5 Financial accounting of a sole trader 2.3.7 Petty Cash Journal Example of a Petty Cash Journal Explanation of a Petty Cash Journal (This explanation must be studied together with the example in 2.3.7) 1 Name of the subsidiary journal, name of the business and the month in which the journal … In an analytical Petty Cash Book, there exists separate heads for different petty expenses, which makes recording much easier. About This Quiz & Worksheet. cash discount of $10. General Journal Voucher 8. Trial Balance. 10 Paid wages in cash. GRADE 10 NOVEMBER 2017 ACCOUNTING MARKS: 300 TIME: 3 hours ... B Petty cash voucher 1.1.3 The document used to record goods sold on credit C Current assets 1.1.4 Money the owner contributes to start a ... Cash Receipts Journal Bank Debtors control Sales Cost of sales Sundry Start studying Accounting : Grade 10. ... On 2066/04/14 issued a cheque no. GRADE 10 ASSESSMENT TEST: 1 HOUR ACCOUNTING QUESTION ONE (10 MARKS) Enter the correct source document next to the relevant journal in the space provided below: Source Document: Receipt Bank Statement Credit note issued Invoice received Debit Slip Bank Statement Invoice issued Petty Cash … Accounting Equation and Analysis of transactions 2.

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