Question

Cash in hand entry is cash a/c dr to balance b/d

Answer 1

Answer:

Journal entries are made for transactions,now cash in hand means the cash which has left at end( it's not a transaction) . However if any transaction(s) you has made in cash (buying/selling),then entries will be recorded.These A/C's (cash in hand/bank/other assets/liabilities)which left at end of period just will closed and carried to balance sheet (i.e-bal c/d) through ledger ,there is no requirement to made any entries regarding these.

However,the entry which could be made here(if u want)-

Bal c/f Dr.

To Cash in hand

Explanation:

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