This form is an official California Judicial Council form which complies with all applicable state codes and statutes. USLF updates all state forms as is required by state statutes and law.
Los Angeles California Cash Assets on Hand at End of Account Period-Standard and Simplified Accounts refer to the monetary funds available to an individual or organization located in Los Angeles, California, at the conclusion of a specific accounting period. These cash assets are classified into two main types: standard accounts and simplified accounts. Standard Accounts: 1. Cash in Hand: This includes physical currency notes and coins held by the entity. 2. Cash in Bank: These are the funds deposited in various bank accounts, such as checking accounts, savings accounts, or term deposits. It represents the portion of cash managed through banking institutions. 3. Petty Cash: A small portion of cash typically kept on-site to fulfill minor expenses such as office supplies, travel reimbursements, or small emergency purchases. 4. Cash Equivalents: These are highly liquid assets that can be quickly converted into cash, such as treasury bills, short-term government bonds, or money market funds. 5. Highly Liquid Investments: Funds invested in highly liquid and easily tradable financial instruments, like short-term corporate bonds, commercial paper, or certificates of deposit. Simplified Accounts: 1. Cash on Hand: Refers to the physical currency and coins available on-site, such as in a cash register or safe. 2. Cash in Bank: Represents the funds held in business bank accounts, which can be used for various transactions. 3. Petty Cash: Similar to standard accounts, petty cash is a small amount of ready cash kept on-site for minor expenses. 4. Cash Equivalents: These include short-term investments that have a quick maturity period and high liquidity, such as short-term government bonds or money market funds. 5. Liquid Assets: Assets that can be easily converted to cash, like accounts receivable or short-term marketable securities. Both standard and simplified accounts aim to provide an accurate representation of an entity's cash position at the end of an accounting period. However, the simplified version is typically used by smaller businesses or individuals with less complex financial operations, while larger organizations often employ standard accounts that capture a broader range of cash assets and financial instruments.Los Angeles California Cash Assets on Hand at End of Account Period-Standard and Simplified Accounts refer to the monetary funds available to an individual or organization located in Los Angeles, California, at the conclusion of a specific accounting period. These cash assets are classified into two main types: standard accounts and simplified accounts. Standard Accounts: 1. Cash in Hand: This includes physical currency notes and coins held by the entity. 2. Cash in Bank: These are the funds deposited in various bank accounts, such as checking accounts, savings accounts, or term deposits. It represents the portion of cash managed through banking institutions. 3. Petty Cash: A small portion of cash typically kept on-site to fulfill minor expenses such as office supplies, travel reimbursements, or small emergency purchases. 4. Cash Equivalents: These are highly liquid assets that can be quickly converted into cash, such as treasury bills, short-term government bonds, or money market funds. 5. Highly Liquid Investments: Funds invested in highly liquid and easily tradable financial instruments, like short-term corporate bonds, commercial paper, or certificates of deposit. Simplified Accounts: 1. Cash on Hand: Refers to the physical currency and coins available on-site, such as in a cash register or safe. 2. Cash in Bank: Represents the funds held in business bank accounts, which can be used for various transactions. 3. Petty Cash: Similar to standard accounts, petty cash is a small amount of ready cash kept on-site for minor expenses. 4. Cash Equivalents: These include short-term investments that have a quick maturity period and high liquidity, such as short-term government bonds or money market funds. 5. Liquid Assets: Assets that can be easily converted to cash, like accounts receivable or short-term marketable securities. Both standard and simplified accounts aim to provide an accurate representation of an entity's cash position at the end of an accounting period. However, the simplified version is typically used by smaller businesses or individuals with less complex financial operations, while larger organizations often employ standard accounts that capture a broader range of cash assets and financial instruments.
