Required Information[The following information applies to the questions displayed below.]Harristown Hockey Club (HHC) maintains a petty cash fund for minor club expenditures. The petty cash custodian, WayneCrosby, describes the events that occurred during the last two months:a. I established the fund by cashing a check from HHC for $310 made payable to me.b. Tom Canuck provided a $90 receipt for repairs to the club's computer, so I paid $90 cash to him.c. Kim Harra provided a receipt for $70 for various supplies she planned to use to decorate the arena later this year. I paid$70 cash to her.d. Trainer Jim bought some equipment that the club intends to use for the next few years. He gave me the receipt and Ipaid him $100.e. On the last day of the month, I prepared a summary of expenditures and requested the fund be replenished. I receivedand cashed a check from HHC for $260, placing the cash Into a locked cash box.f. Wendy Wignes provided receipts for supplies purchased for the club's office for use next month. I paid $145 cash to her.g. Destiny Hook provided a phone bill showing she had paid $50 for telephone calls made to contact referees for theannual tournament. I paid her $50 cash.h. Gutty McTavish submitted a receipt for $55 for a haircut he received. I did not pay him.1. On the last day of the month, I received and cashed a check from HHC for $195, placing the cash into the locked cashbox.2. If HHC has $2,000 cash, $500 of government Treasury bills purchased four months ago. $950 of cash set aside for its workers'compensation Insurance, how much will the company report on the balance sheet as "Cash and Cash Equivalents"?Cash and Cash EquivalentsS 155

The cash and cash equivalents forms a part of total cash to the company and which is required to be…

2. If HHC has $2,000 cash, $500 of government Treasury bills purchased four months ago, $950 of cash set aside for its workers' compensation Insurance, how much will the company report on the balance sheet as "Cash and Cash Equivalents"? Cash and Cash Equivalents S 155

2. If HHC has $2,000 cash, $500 of government Treasury bills purchased four months ago, $950 of cash set aside for its workers' compensation Insurance, how much will the company report on the balance sheet as "Cash and Cash Equivalents"? Cash and Cash Equivalents S 155

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

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