Certificate of Deposit in Accounting

A business pays cash to purchase a certificate of deposit. The certificate matures after a term of 60 days and has a fixed annual interest rate of 2.5%. The journal entries to show the purchase and maturity are described.

Last modified March 21st, 2019 by Team
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Cash Deposit Bank Journal Entry

A business maintains a checking account with a financial institution to allow it to make day to day deposits and withdrawals of cash. A cash deposit in bank journal entry is used to record the transfer of the physical cash held by the business to the bank account.

Last modified November 17th, 2017 by Team
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Petty Cash Replenishment

When a business maintains an imprest system of petty cash it is necessary to replenish the fund at the end of an accounting period. A journal entry is used to record the petty cash expenditure incurred during the period and to reflect the cash used for replenishment.

Last modified September 28th, 2017 by Team
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Cash Over Journal Entry

A cash register reconciliation carried out by a retail business shows a cash overage arising from the difference between the cash receipts counted on the register and the sales recorded on the cash register tape.

Last modified May 2nd, 2017 by Team
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Cash Shortage Journal Entry

A cash register reconciliation carried out by a retail business shows a cash shortage arising from the difference between the cash receipts counted on the register and the sales recorded on the cash register tape.

Last modified April 26th, 2017 by Team
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Term Deposit Journal Entries

The term deposit journal entries below act as a quick reference, and set out the most commonly encountered situations when dealing with the double entry posting of fixed term deposits.

In each case the journal entries show the debit and credit account together with a brief narrative.

Last modified November 6th, 2016 by Team
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Fixed Deposit Journal Entry

A business uses term deposits to earn interest on surplus cash, and records a fixed deposit journal entry to reflect the transfer of cash from its current account to a fixed deposit account.

Last modified July 26th, 2018 by Team
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Bank Reconciliation Journal Entries

The bank reconciliation statement journal entries below act as a quick reference, and set out the most commonly encountered situations when dealing with the double entry posting relating to bank reconciliations.

In each case the bank reconciliation journal entries show the debit and credit account together with a brief narrative. For a fuller explanation of journal entries, view our examples section.

Last modified November 6th, 2016 by Team
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Paid Cash for Supplies

When a business purchased supplies for cash, they were recorded as supplies on hand and carried as a current asset in the balance sheet of the business until consumed.

Last modified October 9th, 2018 by Team
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Imprest Petty Cash

The imprest system of petty cash is a method of accounting for petty cash expenses. Under the system, the petty cash fund balance is always restored at the end of the accounting period back to its original amount. At any one time the cash held plus the petty cash vouchers should always be equal to the original fixed imprest amount.

Last modified July 5th, 2018 by Team
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Quiz 10: Bank Reconciliation Test

The bank reconciliation process is a means of ensuring that the cash book of the business is reconciled to the bank statement provided by the bank. Take our basic bank reconciliation test to check out your knowledge of bank reconciliations used in double entry bookkeeping.

Last modified December 14th, 2016 by Team
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Petty Cash Voucher Template

All petty cash transactions need to be supported by a petty cash voucher.

Together with attached invoices, receipts, and other paperwork, a petty cash voucher is used to support payments made from petty cash and will help a business to document and post petty cash book entries.

Last modified June 18th, 2018 by Team
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