Petty cash

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 most common way of accounting for petty cash expenditures is to use the imprest system. The initial fund would be created by issuing a cheque for the desired amount. An amount of $100 would typically be sufficient for most small business needs as the expenses to be covered are for small amounts. The bookkeeping entry for this initial fund would be to debit Petty Cash and credit bank account.

As expenditures are made, the custodian of the fund will reimburse employees and receive a petty cash voucher with a receipt/invoice attached in return. At any given time, the total of cash on hand plus reimbursed vouchers must equal the original fund.

When the fund gets low, e.g. $20 remaining, the custodian (a bookkeeper or a member of the administration staff) requests a top up and submits the vouchers for reimbursement. Assuming the vouchers add up to $80, an $80 top up cheque is issued and an $80 debit towards office expenses is recorded. Once the cheque is cashed, the custodian again has cash at the original amount of $100. The same applies for a religious cause, charity, or assistance of any kind with a 5 plus personnel in organization. Honesty is the key in every situation that requests us to have good moral and ethics.

List of The Shield episodes

The Shield is an American crime drama television created by Shawn Ryan and starring Michael Chiklis. The series premiered on FX on March 12, 2002 and ended November 25, 2008, totaling 88 episodes over seven seasons, plus one additional mini-episode.

Series overview

Episodes

Season 1 (2002)

Season 2 (2003)

Season 2 includes the introduction of a smart, tough, Mexican criminal called "Armadillo." It also includes the beginning of the "Money Train" storyline.

Season 3 (2004)

Season 3 follows the Strike Team attempts of lying low after the Money Train Heist. However, their efforts are hindered as the repercussions of the heist start to pursue them, which brings some tension between Shane, Lem, and Tavon. Also, Aceveda looks for his replacement as he prepares to take the seat of councilman.

Season 4 (2005)

Season 4 features the new captain of The Barn, Monica Rawling who implements controversial federal asset forfeiture laws to control drug dealing in Farmington, which is controlled by the leader of the One-Niners gang, Antwon Mitchell, who has just been released from prison. To stop this, Rawling empowers Vic, whose Strike Team has disbanded since the last season forcing them to reunite.

Cash

Cash refers to money in the physical form of currency, such as banknotes and coins.

In bookkeeping and finance, cash refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market accounts). Cash is seen either as a reserve for payments, in case of a structural or incidental negative cash flow or as a way to avoid a downturn on financial markets.

Etymology

The word is variously attributed. Some claim that the word "cash" comes from the modern French word caisse, which means (money) box, from the Provençal word caissa, from the Italian cassa, from the Latin capsa all meaning box. In the 18th century, the word passed to refer to the money instead of the actual box containing it. Another claim is that it was derived from Tamil word kāsu (Tamil: காசு) meaning a coin, by East India Company.

"Cash" used as a verb means "to convert to cash"; for example in the expression "to cash a cheque".

History

In Western Europe, after the Collapse of the Western Roman Empire, coins, silver jewelry and hacksilver (silver objects hacked into pieces) were for centuries the only form of money, until Venetian merchants started using silver bars for large transactions in the early Middle Ages. In a separate development, Venetian merchants started using paper bills, instructing their banker to make payments. Similar marked silver bars were in use in lands where the Venetian merchants had established representative offices. The Byzantine empire and several states in the Balkan area and Kievan Rus also used marked silver bars for large payments. As the world economy developed and silver supplies increased, in particular after the colonization of South America, coins became larger and a standard coin for international payment developed from the 15th century: the Spanish and Spanish colonial coin of 8 reales. Its counterpart in gold was the Venetian ducat.