Totalling of cash book
This query is : Resolved
A D - Loving Life
(Querist)
03 June 2009
While totalling of cash book in manual accounting why we add debit side and deduct credit side of cash book with opening balance of cash balance????
Parveen Bansal
(Expert)
04 June 2009
Cash balance is an asset and represents debit balance. Deposit is represented by debit side of cash book. That is why opening cash balance is added to debit side of cash book. Credit balance, being withdrawal of cash, is deducted from added balance to arrive at closing balance of cash.
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