The Cash Book (Junior Cert Business Studies): Flashcards
📚Flashcards
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12 cards from this deck
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Practise the cards
12 cards from this deck
Analysed cash book (ACB)
Analysed cash book (ACB)
A financial record of all money in/out of business over time
ACB's role in accounting
ACB's role in accounting
First step in the accounting process
Debit side (Dr) records
Debit side (Dr) records
Money received (money IN)
Credit side (Cr) records
Credit side (Cr) records
Money paid out (money OUT)
Memory aid: DR means
Memory aid: DR means
Money Received
Memory aid: CR means
Memory aid: CR means
Cash going out
VAT rate in Ireland
VAT rate in Ireland
23% for most goods and services
Opening balance
Opening balance
Money in bank account at start of period
Positive opening balance recorded on
Positive opening balance recorded on
Debit side
Overdraft opening balance recorded on
Overdraft opening balance recorded on
Credit side
Balance c/d meaning
Balance c/d meaning
Balance carried down
Balance b/d meaning
Balance b/d meaning
Balance brought down