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banking

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › banking

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by John Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • September 22, 2018 at 4:46 pm #475541
    suleymanabuzerli
    Member
    • Topics: 84
    • Replies: 32
    • ☆☆

    hello Sir
    l met such sentence when solving questions

    “bankings of 1200$ from petty cash”

    what do this sentence mean?

    1200$ is income or expense??

    September 23, 2018 at 8:07 am #475557
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54812
    • ☆☆☆☆☆

    Neither!!!!

    It means $1,200 is paid our of petty cash into the bank.

    So credit petty cash, and debit cash at bank.

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