{"id":1001,"date":"2023-09-27T11:03:43","date_gmt":"2023-09-27T11:03:43","guid":{"rendered":"http:\/\/localhost\/ecole9ja\/?p=1001"},"modified":"2023-09-27T11:12:59","modified_gmt":"2023-09-27T11:12:59","slug":"week-5-jss-2-second-term-business-studies-lesson-notes","status":"publish","type":"post","link":"https:\/\/ecolebooks.com\/nigeria\/posts\/week-5-jss-2-second-term-business-studies-lesson-notes\/","title":{"rendered":"Week 5 &#8211; Jss 2 Second Term Business Studies Lesson Notes"},"content":{"rendered":"<p>WEEK FIVE<br \/>\n<strong>TOPIC: PETTY CASH BOOK<br \/>\n<\/strong>A petty cash book is a cash book used for recording small or minor expenses of the business.<br \/>\nPetty means small, the minor expenses may include postage stamp, carriage, telegram, stationary, telephone, envelopes etc.<br \/>\nTo establish the petty cash an amount called cash float is disbursted to the petty cashier in the beginning of a month, the cash floor is credited to the main cash book while the petty cash book is debited.<br \/>\nThe keeping of the petty cash book is the responsibility of the petty cashier who is supervised by the main cashier.<br \/>\nThe petty cashier is re \u2013 imbused in the beginning of an other month to make up the cash float.<br \/>\nThe Need for keeping Petty Cash Book are:<\/p>\n<ul>\n<li>The time wasted posting the minor expenses to the ledger is saved\n<\/li>\n<li>Petty cash book reduces the burden of the major cash book\n<\/li>\n<\/ul>\n<p><strong>Differences between cash book and petty cash book<br \/>\n<\/strong><\/p>\n<div>\n<table>\n<tbody>\n<tr>\n<td>Cash book <\/td>\n<td>Petty cash book<\/td>\n<\/tr>\n<tr>\n<td>It has many sources of receipt <\/td>\n<td>It has only one source which is cheque drawn from the bank<\/td>\n<\/tr>\n<tr>\n<td>It records the major items of cash transactions<\/td>\n<td>It records the minor items of transaction<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>\u00a0<strong>Form of a petty cash book<br \/>\n<\/strong><\/p>\n<div>\n<table>\n<tbody>\n<tr>\n<td>Receipt <\/td>\n<td>F<\/td>\n<td>Date<\/td>\n<td>Voucher No<\/td>\n<td>Total expenses<\/td>\n<td>Traveling expenses <\/td>\n<td>Portage stamp<\/td>\n<td>Statio-<br \/>\nnery <\/td>\n<td>Carriage<\/td>\n<td>Telegram<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>\u00a0Example:<br \/>\nEnter the following into the petty cash book showing the analysis column for postage, travelling expenses, stationery, carriage and sundry expenses.<br \/>\nMay 1 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Petty cash in hand\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a02,000<br \/>\nMay 3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Paid for postage stamp\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0150<br \/>\nMay 5 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Paid for travelling expenses \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0700<br \/>\nMay 6\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0paid for stationery \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0500<br \/>\nMay 10 \u00a0\u00a0\u00a0\u00a0Paid for carriage \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0100<br \/>\nMay 20\u00a0\u00a0\u00a0\u00a0Paid for sundry expenses \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0100<br \/>\nMay 22\u00a0\u00a0\u00a0\u00a0Paid for stationary \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0200<\/p>\n<p>\u00a0Petty Cash Book<\/p>\n<div>\n<table>\n<tbody>\n<tr>\n<td>Receipt <\/td>\n<td>F<\/td>\n<td>Date<\/td>\n<td>Details<\/td>\n<td>Voucher<\/td>\n<td>Total expenses<\/td>\n<td>Postage stamp<\/td>\n<td>Trade expenses<\/td>\n<td>Stationary\n<\/td>\n<td>Cornea<\/td>\n<td>Sundry expense<\/td>\n<\/tr>\n<tr>\n<td>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a02,000<br \/>\n250<\/td>\n<td>C.B<\/td>\n<td>May 1<br \/>\nMay 3<\/p>\n<p>\u00a0May 5<\/p>\n<p>\u00a0May 6<br \/>\nMay 10<br \/>\nMay 20<\/p>\n<p>\u00a0May 22<\/p>\n<p>\u00a0May 25<\/p>\n<p>\u00a0June 1<\/td>\n<td>\n\u00a0Postage stamp<br \/>\nTravelling expense<br \/>\nStationery<br \/>\nCarnage<br \/>\nSundry expenses<br \/>\nStationary<\/p>\n<p>\u00a0Balance<\/p>\n<p>\u00a0Balance b\/d<\/td>\n<td>\n\u00a01<\/p>\n<p>\u00a02<\/p>\n<p>\u00a03<br \/>\n4<br \/>\n5<\/p>\n<p>\u00a06<\/p>\n<p>\t\t\t\t\t\t\t\u00a0<\/td>\n<td>\n\u00a0150<\/p>\n<p>\u00a0700<\/p>\n<p>\u00a0500<br \/>\n100<br \/>\n100<\/p>\n<p>\u00a0200<br \/>\n1,750<br \/>\n   250<br \/>\n2,000<\/p>\n<p>\t\t\t\t\t\t\t\u00a0<\/td>\n<td>\n\u00a0150<\/p>\n<p>\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0150<\/p>\n<p>\u00a0<br \/>\n\t\t\t\t\t\t\t\u00a0<\/td>\n<td>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0700<\/p>\n<p>\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0700<\/td>\n<td>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0500<\/p>\n<p>\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0200<br \/>\n700<\/td>\n<td>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0100<\/p>\n<p>\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0100<\/td>\n<td>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0<br \/>\n\u00a0100<\/p>\n<p>\u00a0<br \/>\n\u00a0<br \/>\n\u00a0100<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>\u00a0Class Work<br \/>\nEnter the following transaction into a petty cash book with these headings. Postage and stationery, travelling expenses, carriage, office expenses.<\/p>\n<p>\u00a0Jan 1\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Petty cash in hand\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a03000<br \/>\nJan 2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Bought stamp\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0500<br \/>\nJan 4 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Travelling expenses \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0300<br \/>\nJan 8 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Bought stamp\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0200<br \/>\nJan 10\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Paid carriage \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0100<br \/>\nJan 12 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Repairs of office equipment \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0500<br \/>\nJan 15 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Bought envelope\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0150<br \/>\nJan 25 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Paid office cleaner\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0200<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WEEK FIVE TOPIC: PETTY CASH BOOK A petty cash book is a cash book used&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,103],"tags":[],"class_list":["post-1001","post","type-post","status-publish","format-standard","hentry","category-posts","category-second-term-jss-2-business-studies"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/1001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/comments?post=1001"}],"version-history":[{"count":1,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/1001\/revisions"}],"predecessor-version":[{"id":1002,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/1001\/revisions\/1002"}],"wp:attachment":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/media?parent=1001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/categories?post=1001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/tags?post=1001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}