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4 days ago · Example of TDS Receivable Journal Entry. Assume a business receives income of ₹100,000 from a client, and TDS at 10% is deducted. Journal Entry. The net amount received, which is ₹90,000, reduces the balance of the bank or cash account in the following entry.
3 days ago · Cash book: A record of day-to-day cash receipts and payments which shows cash balance at the end of the day or at best at the end of each month and not later. A journal according to mercantile system of accounting.
4 days ago · Share: Your organization’s accounting processes seem full of never-ending metrics. From statements to reports to analyses, there’s always a mountain of data needed for proper record-keeping and compliance. Operating cash flow is a key part of routine reporting.
5 days ago · Investopedia / Eliana Rodgers. What Is the Indirect Method? The indirect method is one of two accounting treatments used to generate a cash flow statement. The indirect method uses...
4 days ago · What is the Cash Disbursement Journal? The cash disbursement journal is a detailed record of the cash payments made by a business. The journal itemizes when checks and other types of payments are made, as well as the amounts paid, the names of the recipients, and the accounts charged.
3 days ago · Meanwhile, a business using accrual accounting records revenues and expenses as they incur or become anticipated, regardless of cash movement. The accrual method is also compliant with the GAAP, while the cash method isn't. Cash basis accounting can cause operating cash flow inaccuracies, as it records expenses on an as-is basis as expenses ...
5 days ago · Use the information below to answer questions 11 and 12. The initial imprest as at July Ist was N500. Petty cash vouchers with the custodian by July 15th added up to N394. An IOU slip received from a co-worker was N65 and there was a shortage of N5 cash.
