doubt in accounts
This query is : Resolved
17 September 2009
It is an Asset. Petty cash book is a part of main cash book which mainly deals with petty expenses. Therefore, balance amount
left in petty cash book is an asset for the enterprise. It is nothing but balance in cash account.
left in petty cash book is an asset for the enterprise. It is nothing but balance in cash account.
Manmohan ACA, CS
(Expert)
17 September 2009
How can you say that unused cash is our income, perrt cash is surely is an assets.
If unused cash would be our income, the bank not grant any loan and shpw huge profit(if unused cash will be termed as income).
If unused cash would be our income, the bank not grant any loan and shpw huge profit(if unused cash will be termed as income).
Taranjit Singh
(Expert)
17 September 2009
Petty cash is the amount of money you have on hand. Most companies have a box containing small amounts of cash for small purchases like stamps, cream for coffee, and courier charges. The amount of money physically in the box should equal the balance of the petty cash account on the balance sheet.
So treated in current Assets.
So treated in current Assets.
17 September 2009
asset
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
