Results for “5010”

5000 Cash on hand

Cash desk

The place in a company where cash is kept and where cash payments are received or made. National currency in the cash desk is accounted for in account 5010, foreign currency in account 5020: money received into the cash desk is reported in the debit, and money paid out of the cash desk or deposited with the bank in the credit (NAS No. 21, paragraph 222).

We send official letters by registered mail, so we bought 300 postage stamps at once. Are they expensed immediately or kept as a balance?

We transferred an advance from our settlement account to a purchasing employee so that he could buy raw materials. He brought the materials and returned the leftover money to our account. In which account is the advance recorded, and what journal entries are made?

We gave our employee a 3-year loan for home repairs; it is withheld from his salary every month. In which accounts is this loan kept?

The auditor arrived unexpectedly in the morning and said we would count the cash right now. Why doesn't he warn us in advance, and what should we be ready for?

We gave an employee money for business expenses, and according to the receipts he spent more. How do we document the difference?

We pay employees an advance against their salary in the middle of the month. How is this advance closed at month-end?

When the cash was counted, there was a shortage, and the cashier admitted fault. What is recorded in the accounts?

Our shop has opted for the simplified 6 percent VAT regime under Decree PF-100. What now happens to the VAT included in the price of goods we buy?

On the evening of the 31st the takings were handed to the cash collector, and they reached the bank on the 1st. Where does this money appear on the month-end balance sheet?

We withdrew cash from the bank account and put it into the cash desk. What journal entry is made?