Vanguard 1's experiments and transmitter fell silent in 1964, and the satellite has been out of contact with Earth since then. But now fate is offering Vanguard yet another chance to live up to its pioneering name.
Balancing of Cash Book. All cash transactions relating to cash receipts (debits) are entered on the left side and all transactions relating to cash payments (credits) are entered on the right side. When a cash book is maintained, a separate cash book in the ledger is not opened. The cash book is balanced in the same way as an account in the ledger. But it may be noted that in the case of the cash book, there will always be debit balance because cash payments can never exceed cash receipts and cash in hand at the beginning of the period. The source document for cash receipts is generally the duplicate copy of the receipt issued by the cashier.
The Cash balance which is the first line item under Current Assets at the top of the Balance Sheet is taken from the Ending Cash on the Cash Flow Statement. The Balance Sheet, unlike the Income Statement, is not a cumulative record over time; it is a snapshot of one moment in time. Cash Flow Statement The Cash Flow Statement connects the three financial statements together. The statement begins with Net Income from the Income Statement and the Ending Cash balance at the bottom Cash Flow Statement flows to Cash and Cash Equivalents at the top of the Balance Sheet. Practice Interview Questions: