What are sundry assets?
Sundry assets, frequently known as other current assets (OCA), are uncommon or insignificant things of value a company owns, such as a piece of unimproved land or restricted cash. A company may list and describe these assets in its financial statement footnotes.
What is an example of a sundry?
The definition of sundry refers to a collection of miscellaneous things. An example of sundry is when you have a chest full of jewelry and a collection of other little trinkets. Several; diverse; more than one or two; various. Consisting of a haphazard assortment of different kinds; miscellaneous.
What is an example of a sundry expense?
The word “Sundry” is items that are irrelevant and unimportant for mentioning individually. These expenses are unusual and random and don’t include a business expense. Travel & conveyance, salaries, rent, entertainment, telephone and internet expenses are all examples of business expenses.
What does sundry mean on a payslip?
In accounting and bookkeeping, sundry expenses are expenses that are small in amount and rare in occurrence. For these rare and insignificant expenses, a company might use a general ledger account entitled Sundry Expenses for these items.
Why is it called sundry?
Sundry means various, miscellaneous, or diverse. The term sundry comes from when bookkeeping was more of a manual task. Bookkeepers had to handle the books by hand and had to add a page to the company’s ledger for every new customer.
Why is it called a sundry?
Is sundry expenses an asset?
Definition: Sundry expenses are items or expenditures that are rare, amount to very little, or are relatively unimportant and therefore do not fit into a standard asset or expense category.
What is sundry purchases?
Sundry invoices are sent a company’s customers who rarely make a purchase on credit and the amount of their purchases are not significant. Sundry means various, miscellaneous, or diverse. The term sundry comes from when bookkeeping was more of a manual task.
What is sundry used for?
The word is typically used as an adjective to describe a collection of various different items found in one place, as in — “I discovered records, perfume bottles, and sundry items at my neighbor’s yard sale.” The phrase “all and sundry” refers collectively to a group of people, as in, “I invited all and sundry of my …
What is the definition for all and sundry?
Definition of all and sundry formal. : every person It was clear to all and sundry that something was wrong.