Where we want to enter subscription of newspaper in Analytical petty cash book

Asked by mk958311 | 18th Sep, 2019, 07:26: AM

Expert Answer:

Analytical Petty Cash Book:
  • In this type of cash book petty expenses are classified into different heads of expense.
  • Total amounts of each heads are then transferred to the respective ledger accounts.
  • Its left hand side records all the receipts and right hand side records all the payments.
Therefore, subscription paid for newspaper being an expense will be recorded on the right hand side of the Analytical Petty Cash Book.

Answered by Surabhi Gawade | 18th Sep, 2019, 10:20: AM

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