Suppose Company ask you to withdraw  5000 Cash from SBI Bank and keep with you for day to day expenses of office

What is this cash called?

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What entry should be passed by you

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Where should you keep this cash?

In your pocket or somewhere else?

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Suppose a Peon Ravi ask for Rs 1000 for purchasing tea and biscuits

What will you do

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Suppose peon Ravi spends 800 and return 200

What entry is to be passed

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What if Ravi does not submit bill within time allowed as per Company's policy?

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  1. Accounts and Finance
  2. AP and AR Process
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Davneet Singh
Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 8 years. He provides courses for Maths and Science at Teachoo. You can check his NCERT Solutions from Class 6 to 12.