Download the junior cert business studies syllabus. These include receipts from customers and payments to suppliers as well as bank charges, interest received, etc. Jssmst locking large metal cash box with money tray, money box with combination lock, black. Practicing past exam questions is really important, especially in the book keeping questions. The main advantages of imprest system of petty cash are as follows. Also included as a part of cash are the balances kept at banking and financial institutions. Analysed cash book question packs junior certificate. Petty cash book contains daily office expanses like tea, stationary etc.
Petty cash is an important method of running an effective organization. The junior cycle caters for students in the to 15 year old age group. The trial balance a is a listing of all the general ledger account balances at a particular date. Thus, the book is part of a manual recordkeeping system. These are expenses which are incurred day after day. 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. Free online cash book etc practice and preparation tests. Imprest petty cash question with answer college accounting. If your software cannot do transfers then do a bank payment and cash receipt for the same amounts, using either suspense, or a contra account. Adams 2 part petty cash receipt book 5 12 x 11 book of 200. This powerpoint presentation show alternative versions of the way an analysed cash book can appear. If a petty cash account for a noncentral office location is requested, the petty cash account certification field office attachment page 2 must be completed. Year end certificate of petty cash held as at 31st july. Both cars are due a service in october at a total cost of 825, which is additional to car running costs.
Arthur russell, who has been teaching business at the institute of education for 35 years, outlines some of the key things students must remember when completing this section and explains why practice and perseverance will help. The following petty cash transactions occurred during the month. Junior cert history ordinary and higher level exam papers by edco. Petty cash book format example definition explanation.
Leaving cert and junior cert exam paper questions and marking schemes listed by topic. Business accounting tutorial petty cash book petty cash book in almost all businesses, it is found necessary to keep small sums of ready money with the cashier or petty cashier for the purpose of meeting small expenses such as postage, telegrams, stationary and office sundries etc. A enter the transaction of 12 th april 20 in the petty cash voucher. The accounting section of the junior cert business exam is challenging and requires significant attention to detail.
Which certification is elise mostly likely to need to perform her job. It is another cash book which is maintained, generally, in large business concerns to reduce the burden of main cash book, in which numerous transactions involving petty small amounts are recorded. Junior cert exam papers business studies on schoolbooks. Turn over cambridge international examinations cambridge. Download petty cash book in excel file in xlsx format.
Which of the following explains the imprest system of operating petty cash. Petty cash book business petty cash book it is not necessary to carry out all the activities contained in this unit. In the petty cash book only small payments of cash are recorded by the petty cashier. Practicing past exam questions is really important, especially in the bookkeeping questions. When an analytical petty cash book is maintained for recording the petty expenses, it will be practically more convenient to consider the petty cash as a separate account and take cheques issued for the petty cash imprest as a debit to petty cash account and all petty expenses paid as. Junior cert exam papers business studies schoolbooks. Cash on hand refers to the amount of money the company have at their disposal on the closing day of the trading year in this case 311220. The cash book is a ledger in the sense that it is designed in the form of a cash account and records cash receipts on the debit side and cash payments on the credit side, thus, the cash book is both a journal and a ledger. A s the petty cashier has to produce to the chief cashier the petty cash book for inspection, it acts as a healthy check on the petty cashier.
On march 1, 20x1, sherry jones established a petty cash fund. The cash book is a book of original entry since transactions are recorded for the first time from the source document. Adams 2part petty cash receipt book, 5 12 x 11, book of 200 sets. This examination booklet will be scanned and your work will be presented to an examiner. Each t account contains the exact amount owing to a supplier a sales ledger b purchases ledger c general ledger d cash book 2. Cash book, pass book, bank reconciliation statement dr. Download the junior cert science chief examiners report 2010 download the junior cert science guidelines for teachers. Household costs are 870 per month except in december when they are expected to be 230 extra. It should also be kept in mind that petty cash book is not like the cash book. Tips keep the petty cash book and box or tin in a safe place, such as the accountants or managers office or cubicle.
Study one topic at a time and then go through that topic on studyclix comparing your answer with the marking scheme. Business notes higherordinary level junior cert jclearn. The most common way of accounting for petty cash expenditures is to use the imprest system. Exemption certificate has been provided, by the relevant tax authority. For this purpose, a petty cashier is appointed by the chief cashier. The petty cash book will be maintained by a separate cashier known as petty cashier in the accounting field. A book in which bank cash transactions are recorded.
Mock exam paper d p1 higher level marking scheme exam. Download the junior cert business studies chief examiners report 2012 download the junior cert business studies guidlines for teachers. Items are licensed only for use as configured within this exam, in its entirety. This is a standard analysed cash book question for junior cert. You can find the questionsanswerssolutions for the chapter 4 of cbse class 11 accountancy in this page. Oct 24, 2017 in this video, i will teach you about petty cash book. Recording of transactions ii petty cash book solutions this page contains the cbse accountancy class 11 chapter recording of transactions ii notes. Mock exam paper d section b exam papers business studies. The junior certificate business studies syllabus was introduced in 1989 and examined for the first time in 1992. All payments are securely processed through paypal. A petty cash is a cash book used to enter all small or petty expenses obtained.
Please see teachers notes for explanations, additional activities, and tips and suggestions. Petty cash is a small amount of discretionary funds in the form of cash used for expenditures where it is not sensible to make any disbursement by cheque, because of the inconvenience and costs of writing, signing, and then cashing the cheque. The more scientific method of maintaining petty cash so for introduced into practice is the imprest system. The petty cash account amounts requested above and on the following page are necessary for the efficient operation of this agency. These balances include savings and checking accounts. Ledger for petty cash record keeping large 120 pages business accounts petty cash log book. Restless development global finance policies and procedures manual 201416. Junior cert business studies mind maps junior cert mind maps. All credit purchase of goods is written in this book.
Year end certificate of petty cash held as at 31st. Total each analysis column and balance the petty cash book at the end of april. Mead cash book, 71516 x 518 inches, 144 pages colors may vary, blue, black, red one book. This quiz and worksheet gauge your knowledge of establishing and replenishing a petty cash fund, as well as what petty cash funds are used for. Once your order has been processed i will send you a personalised copy of the mind maps in pdf format for your chosen subjects, usually within 15 minutes. The syllabus replaced the intermediate certificate commerce syllabus, which was examined for the last time in 1991. Petty cash book introduction cash book accounts class 11. There are two primary types of entries in the petty cash book, which are a debit to record cash received. Car running costs are expected to be 45 per month for pat and 25 per month for amy.
Join jclearn today for free for access to notes, study advice and more. Mock exam paper d section b marking scheme exam papers. Cash includes currency and coins, although most businesses do not keep much of this type of cash around. Students normally sit for the examinations at the age of 14 or 15, after 3 years of postprimary education. Click below to purchase the full set of 56 junior cert business studies mind maps.
Apr 26, 2020 the petty cash book is a formal summarization of petty cash expenditures, sorted by date. Petty cash book definition of petty cash book by the free. Are there any other accounting type questions i should know please tell us why you are reporting this post. Practice questions on journal, cash book, depreciation etc. Recording of transaction in cash book and journal with specimen. The petty cash book is to enter how the cash available for daily expenses are spent for example milk, tea, taxi charges and. Analysed cash book sample exam paper questions 2012 and 2010 exam paper question solutions. When an analytical petty cash book is maintained for recording the petty expenses, it will be practically more convenient to consider the petty cash as a separate account and take cheques issued for the petty cash imprest as a debit to petty cash account and all petty expenses paid as credits in petty cash account.
Cost centre 1 cost centre 2 expense code please complete allfields and return to cashiers in the finance division within 5 working days of 31. Adams petty cash 2part carbonless receipts book, 2. 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. I also confirm that all petty cash funds are kept in a secured locked box, in a secure fireproof safe. Petty cash book is a type of cash book, which use to record small amount of receipts and payment. In most cases, the petty cash book is an actual ledger book, rather than a computer record. The junior certificate business studies syllabus was introduced in 1989 and examined. The petty cash float for the beginning of the period. Cambridge international general certificate of secondary education. Sep 19, 2014 sample retirement plan for 50 year old getting late start. Recording of transactions ii petty cash book solutions.