1) The state of a marijuana receptacle whose contents have been thoroughly exhausted, leaving behind an ash residue. The "cash point," or point at which the receptacle is to be retired or repacked, is often heatedly debated among marijuana smokers; some choose to incinerate the entire contents of the bowl until all said marijuana has been dissipated, while others choose to repack as soon as it begins to adopt a black hue.
2) Certain circles (particularly youth) have adopted the "cashed" adjective as the universal term for a status of depletion.
1) "This bowl is cashed. Shall I repack?"
2) "This bag of Funyons is cashed-ass. Take the empty bag to the trash and grab me some Oreo's from the kitchen. Bitch."