If you find difficulty in answering these questions, read cash book chapter thoroughly from explanation section of the. Make the entry on 1 october 2007 to restore the petty cash to the imprest amount. Revision note on types of cash book, contra entries and cash discounts. It is a special book that will record only one type of transactions cash transactions. Recording of transactions ii petty cash book solutions. Cambridge igcse accounting has been written as per the specifications of the cambridge igcse accounting syllabus. Besides maintaining a main or general cash book, many companies also maintain a small cash book known as petty cash book to record small day to day expenditures of the business petty cash book is a type of cash book that is used to record minor regular expenditures such as office teas, bus fares, fuel, newspapers, cleaning, pins, and causal labor etc. Petty cash book is an accounting book used for recording expenses which are small and of little value, for example, stamps, postage and handling, stationery, carriage, daily wages, etc. How to record transactions in petty cash book this feature is not available right now. Igcse accounting past year papers 0452 download twins. Sams book keeper started to maintain a petty cash book on 1 april 2019. Uses of petty cash book its a cash book used to enter daily petty expenses. Apr 26, 2012 cambridge igcse accounting has been written as per the specifications of the cambridge igcse accounting syllabus.
From the following particulars make cash book of ghulam fatima trading co. Cambridge igcse accounting 0452o level principles of accounts7110 notes. Petty cash book is an accounting book used for recording expenses which are small and of little value, for example, stamps, postage and handling, stationery, carriage, daily wages, etc these are expenses which are incurred day after day. These are expenses which are incurred day after day. It also serves the purpose of a ledger account and therefore, the cash account and bank acccount are not maintained in the general ledger. The analytical petty cash book although petty cash payments are varied in nature in most businesses there are common items that benefit from petty cash payments. Complete cie 0452 accounting igcse past paper categorised questions by topic and combined pdf. Creditor cash machinery expenses owing 4 accounting. Petty cash book syllabus aim is to explain the use of, and process, accounting data in the petty cash book and then post in the correct ledgers using the imprest system. The cambridge igcse accounting syllabus introduces learners to the theory and concepts of accounting and the ways in which accounting is used in a variety of modern economic and business contexts.
Nov 14, 2015 removes small payments from the cash book, saves space. Nov 23, 2018 take a quick multiple choice questions mcqs test about cash book. This cambridge igcse papers are created especially for global or international students. Clear stepbystep explanations and instructions help students learn how to record, report, present and interpret financial information while gaining an appreciation of the ways accounting is used in modern.
Complete cie 0452 accounting igcse past paper categorised. Cambridge igcse accounting0452o level principles of accounts7110 notes. She maintains a three column cash book and also a petty cash book. Uses of petty cash book its a cash book used to enter daily petty expenses like cost of stationery, postage and xerox copy and so on. Required a state one advantage of the imprest system of petty cash. These mcqs can help you to prepare for your exams, interviews and different tests. Collins cambridge igcse accounting sample by collins issuu. The work can be given to another person rather than the main cashier, useful for training trainees. Required a state two advantages of the imprest system of petty cash. By watching this video you will understand how to record all the entries into the receipts and payments sections of the. Cie igcse accounting 0452 international general certificate of secondary education. Candidates were required to prepare a petty cash book, make ledger. Cambridge international examinations cambridge international.
Recording of transactions ii petty cash book solutions this page contains the cbse accountancy class 11 chapter recording of transactions ii notes. Mar 11, 2020 learn everything you need to get an igcse accounts a grade with clear video tutorials from. Petty cash is stored in a petty cash drawer or box near where it is most needed. Jan 24, 2020 explain the dual function of the cash book as a book of prime entry and as a ledger account for bank and cash explain the use of and record payments and receipts made by bank transfers and other electronic means explain and apply the imprest system of petty cash. You can find the questionsanswerssolutions for the chapter 4 of cbse class 11 accountancy in this page. Saffie had the following transactions in september 2017. Petty cash book definition the petty cash book is defined as relatively small amount of cash kept at hand for making quick payments for miscellaneous small expenses in the business concern.
For over past 20 years, cambridge have been working with schools and teachers worldwide to develop these exam papers including arranging those igcse accounting past year papers that are suitable for different countries, different types of schools and for learners with a wide range of abilities. Petty cash book is the accounting book that is used for the purpose of recording the petty cash expenditure i. Books of original entry revision notes igcse accounts. Balance the petty cash book and bring down the balance on 1 april 2015. Cash book petty cash book sales journal purchases journal sales returns journal. Sams bookkeeper started to maintain a petty cash book on 1 april 2019. By watching this video you will understand how to record all the. Petty cash is a small amount of cash that is kept on the company premises to pay for minor cash needs. Making journal entries practice questions verification of accounting records. Learners focus on the skills of recording, reporting, presenting and interpreting financial information and build an ideal foundation both for. At the end of april 2019 sam discovered that only a few entries had been made in the petty cash book for the month. A cash book acts like both a journal and a ledger for cash transactions.
Three column cash book problems and solutions accountancy. Sep 19, 2014 how to record transactions in petty cash book this feature is not available right now. Examples of these payments are office supplies, cards, flowers, and so forth. From the initiation of journal, the ledger account is prepared, with the help of which the final books of accounts of the company is. Accounting principles and practices have been explained in simple language and lucid style to enhance the accessibility of the contents to students whose first language is not english. Cash book and posted individually to the credit side of the debtors accounts to which they relate. Igcse accounting tutorial igcseaccountingtutorial on. On 1 november 2017 the balance of the petty cash book was. A petty cash book is just another kind of cash book that records petty cash transactions, i. Cie igcse accounting 045222 paper 2 past papers gce guide. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Cambridge igcse, cambridge international a and as level components and some cambridge o level.
The posting from the petty cash book to the respective accounts in the ledger are made directly in total at the end of every month or any other fixed period. Answers to the progress check and examstyle questions are at the back of the book, so students have the freedom to study in their own time. Complete cie 0452 accounting igcse past paper categorised questions by topic and combined pdf mark schemes for june and november. Igcse accounting tutorial welcome to igcse accounting tutorial. During the month of november 2017 devon made the following petty cash transactions. Cambridge assessment international education cambridge. Cambridge igcse accounting students book catherine.
Balance the books and bring down the balances on 1 may 2019. Because of the enormously large amount of cash transactions in a typical business, this cash account is maintained as a separate book known as cash book. Cambridge igcse accounting students book cambridge international igcse 9781107625327 by coucom, catherine and a great selection of similar new, used and collectible books available now at great prices. Balances in the cash book are taken directly to the trial balance. A system of maintaining a petty cash book by always ensuring the opening balance of the petty cash book is the same amount for each time period. This coursebook supports the cambridge igcse and o level accounting syllabuses to enhance understanding of accounting best practice. This was to be the monthly imprest which was to be restored on the first day of each month. Prepare petty cash book on imprest system from the following particulars for minha shukat ltd. Balance the book on 30 september 2007 and carry down the balance.
If you would like to download the petty cash book handout then please visit our website at. Just click the start quiz button and start cash book mcqs quiz. Jan 07, 2015 during his first month of trading allan paid the following expenses from petty cash. Let us learn about the petty cash book and the various systems of maintaining the said account. The application of accounting principles to the keeping of books of account such as. Cambridge igcse accounting student book by collins uk. Igcse accounting 045211 paper 1 cambridge international. The petty cashier of john and james company paid cash for the following expenditures during march 2018. Journal is an integral part of bookkeeping which is the starting point of accounting and it records all the business transactions whereas the petty cash book records the transaction related to the cash account. The more scientific method of maintaining petty cash so for introduced into practice is the imprest system.
This channel is basically for igcse students who want to study or studying accounting. Cash book is the account which keeps track of all the cash transactions of the business. Sample questions and answers help students master accounting principles in their revision, while examstyle questions give them plenty of opportunity to apply their skills. Nov 23, 2015 understand how to make all the necessary entries in to the petty cash book. Understand how to make all the necessary entries in to the petty cash book. Controllimitkeep track of petty cash expenditure the cash remaining and the vouchers received should equal the imprest can help to reduce fraud or other suitable advantage.
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