20 A credit to the account Cash-MDS Regular will most likely be recorded in what journal? Group of answer choices Check Disbursements Journal Special Journal Cash Disbursements Journal General Journal

20 A credit to the account Cash-MDS Regular will most likely be recorded in what journal? Group of answer choices Check Disbursements Journal Special Journal Cash Disbursements Journal General Journal

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: 10.00 coin 3 pc 5.00 coin 9 pc 1.00 coin 3 pc .25 coin 2 рс Check No. 14578 amountin meck No. 454532…

A: Deposit slip It is a paper form that a bank customer depositing funds into a bank account.…

Q: A $195 petty cash fund has cash of $20 and receipts of $161. The journal entry to replenish the…

A: Journal entry is a process of recording business transactions in the books of accounts for the first…

Q: A $150 petty cash fund has cash of $54 and receipts of $83. The journal entry to replenish the…

A: Given information: Petty cash fund - $150 Cash balance - $54 Cash receipts - $83

Q: A $150 petty cash fund has cash of $54 and receipts of $83. The journal entry to replenish the…

A: Journal entries are the building blocks of accounting, which is the act of recording the economic or…

Q: Describe and use the cash receipts journal. List theree items of information about each cash receipt…

A: Cash Receipts Journal: It is a special book where only cash receipts transactions that are…

Q: Can someone help me with journal

A: Journals are used to record transactions in accounting books. In making journal entries, atleat two…

Q: You just posted a credit to Accounts Receivable. Which special journal did it come from? cash…

A: Sales are made on cash and credit basis. The amount to be collected from sales made on credit basis…

Q: Calculator A $200 petty cash fund has cash of $20 and receipts of $177. The journal entry to…

A: Petty cash fund refers to the small amount of money which an organization keeps for paying its minor…

Q: Need help with these questions please. Thank you

A: Answer 1 Answer 2

Q: The following are selected transactions related to purchases on account and cash payments completed…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: $121 petty cash fund has cash of $19 and receipts of $99. The journal entry to replenish the account…

A: Replenish of petty cash fund means reimbursement of petty cash fund.

Q: A $114 petty cash fund has cash of $16 and receipts of $91. The journal entry to replenish the…

A: Petty cash fund is a type of fund set aside by a company to meet daily expenses of the company.…

Q: Balances in the company's account at IBank; checking account-P540,000; savings - P884,000 b.…

A: Cash & Cash equivalent includes: Cash & Paper money US Treasury bills Undeposited receipts…

Q: Journal entries commonly processed as part of the purchases and cash disbursements can include: A…

A: Purchases of the business includes goods and services purchased for the business. It can be on cash…

Q: A $180 petty cash fund has cash of $20 and receipts of $146. Which of the following would be part of…

A: Cash Need to Replenish to Petty Cash Fund = Amount of Fund to Be - Cash Receipts - Amount of Cash…

Q: For each receipt in the cash book, postings should be made to the . A. Credit side of the…

A: In accounting, a cash book is a type of ledger that records all cash receipts and payments,…

Q: A $130 petty cash fund has cash of $16 and receipts of $101. The journal entry to replenish the…

A: Date Accounts Titles and Explanation Debit Cedit Expenses $101 Cash…

Q: DO Bank Statement - Box Account No.: 88888 Period: August 01 - 31, 2020 Amount Deposit Balance…

A: Bank reconciliation Statement is the statement which states the reasons for difference between the…

Q: A $150 petty cash fund has cash of $54 and receipts of $83. The journal entry to replenish the…

A: Cash Short (Over) = Petty cash fund - cash - receipts = $150 - 54 - 83 = $13

Q: Identify the correct journal entry when cash is received from customers - periodic inventory system…

Q: Which of the following is normally recorded in the cash disbursement journal? a. Payment made to…

A: Cash Disbursement Journal: It is a record kept by the accountants of all the expenditures made by…

Q: A $144 petty cash fund has cash of $24 and receipts of $109. The journal entry to replenish the…

A: The corporation create petty cash fund to meet its sundry expenses took place in daily course of…

Q: A cash payment is journalized in the cash account as Group of answer choices neither a debit nor a…

A: Lets understand the basics. Journal entry is required to make to record event and transaction in…

Q: Calculator A $150 petty cash fund has cash of $54 and receipts of $83. The journal entry to…

A: Option b is the answer

Q: The total of settlement discount granted column in cash receipts journal will be posted to the...in…

A: Settlement discount is offered to the debtors for the prompt payment and is similar in nature as…

Q: Accompanying the bank statement was a debit memo for bank service charges. What entry is required in…

A: Bank service charges: Bank service charges are generally directly debited by bank in the bank…

Q: 1. Brooks Agency set up a petty cash fund for $140. At the end of the current period, the fund…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Question Content Area A $178 petty cash fund has petty cash on hand of $25 and receipts of $139.…

A: The objective of the question is to determine the correct journal entry to replenish a petty cash…

Q: Question 4 Explain briefly on the following: i) ii) iii) iv) Sales Journal Purchase journal Cash…

A: Briefly explanation about sales journal, purchase journal, cash receipt journal cash , payment…

Q: Debit postings to the individual accounts in an accounts receivable subsidiary ledger generally come…

A: 1. Cash payments journal: Records outgoing payments made by the business.2. Sales journal: Logs…

Q: Prepare a flowchart of a cash receipts procedures described in the problem.

A: Definition: Accounts receivable can be referred to as the amount which is due from the customers of…

Q: A cash book is used to record

A: A cash book contains all cash receipts and payments transactions in detail, including bank deposits…

Q: While examining cash receipts information, the accounting department determined the following…

A: Journal entries are used to record transaction in chronological order under double entry accounting…

Q: Credits to customer accounts and credits to Other Accounts are individually posted from a cash…

Q: It is the list of all invoices sent out to Customers each day by your business a. Cash receipt…

A: Cash receipt Journal shows all the transactions which involves receipt of cash, in other words it…

Q: On October 31, 2021, Damon Company's general ledger shows a checking account balance of $8,439. The…

A: Deposits Outstanding = $ 74600 - $ 71365 = $ 3235 Checks Outstanding = $ 72509 - $ 71234 = $ 1275

Q: Solve question With given worksheet Also another question what accounts are to be credited and…

A: Solution- Date Particulars Amount Amount A may 1 petty cash--------------------------DR…

Q: A $142 petty cash fund has cash of $22 and receipts of $126. The journal entry to replenish the…

A: Petty cash is the fund which is kept by the entity with the cashier so as to pay off the petty…

Q: - Purchased supplies on account, 500.00. - Paid rent for September 3,000.00. - Purchased laundry…

A: The T-accounts are prepared to record transactions to the specific accounts of the business.

Q: A $180 petty cash fund has cash of $15 and receipts of $180. Which of the following would be part of…

A: The petty cash fund has a receipt of $180 thus a Petty Cash Fund A/c was debited for $180 and Cash…

Q: Can you help me with these practice question with quickbooks please To begin connecting bank…

A: QuickBooks is a well-known accounting program created by Intuit. It is intended to assist small and…

Q: Which of the following would be included in a journal to record an NSF check? a. A debit to…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: For number 13 how do i post that in a cash receipts journal?

A: The cash receipt journal is prepared to record all cash receipts. It records cash receipt…

Q: for the journal entry what about record cash paid for frieght cost and record cash paid for…

A: Cost incurred before put in use of property plant, machinery should be capitalised in the cost of…

Concept explainers

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.

Question

A credit to the account Cash-MDS Regular will most likely be recorded in what journal?

Group of answer choices

Check Disbursements Journal

Special Journal

Cash Disbursements Journal

General Journal

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Accounting for Cash and cash equivalents

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

A $73 petty cash fund has cash of $17 and receipts of $66. The journal entry to replenish the account would include a a.credit to Cash for $73 b.credit to Petty Cash for $66 c.credit to Cash Short and Over for $10 d.debit to Cash for $17
Using the following cash payments journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that No posting is required. CASH PAYMENTS JOURNAL Page 46 Date Ck.No. Account Debited Post.Ref. OtherAccountsDr. AccountsPayableDr. Cash Cr. 20Y1 July 3 611 Energy Systems Co. (a) 4,000 4,000 July 5 612 Utilities Expense (b) 310 310 July 10 613 Prepaid Rent (c) 3,200 3,200 July 16 614 Flowers to Go, Inc. (d) 1,250 1,250 July 19 615 Advertising Expense (e) 640 640 July 22 616 Office Equipment (f) 3,600 3,600 July 25 617 Echo Co. (g) 5,500 5,500 July 26 618 Office Supplies (h) 250 250 July 31 619 Salaries Expense (i) 1,750 1,750 July 31 9,750 10,750 20,500 (j) (k) (l) Post reference represents: a. b. c. d. e. f. g.…
how do we record in the cash payment journal for the payment in cash and with the GST included and received discount
A $84 petty cash fund has cash of $17 and receipts of $72. The journal entry to replenish the account would include a Oa. credit to Cash Short and Over for $5 Ob. debit to Cash for $17 Oc. credit to Cash for $84 Od. credit to Petty Cash for $72
All cash payments are recorded in: Sales Journal Cash Payments Journal Cash Receipts Journal General Journal
Which one of these principles is considered for cash disbursement control Select one: O a. Print check amount by machine O b. Same staff approve and make payment Oc. Reconcile bank statement annually O d. Rarely compare checks to invoices
A $167 petty cash fund has cash of $18 and receipts of $141. The journal entry to replenish the account would include a a. debit to Cash Short and Over for $8 b. credit to Petty Cash for $141 c. debit to Cash for $18 d. credit to Cash for $167
please answer in detail with explanation
A prenumbered document that tells the bank to pay the designated party a specific amount is a A. check B. deposit ticket C. routing number D. remittance advice
How to calculate cash receipt journal
A $81 petty cash fund has cash of $25 and receipts of $59. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. debit to Cash for $25 credit to Cash Short and Over for $3 credit to Petty Cash for $59 credit to Cash for $81
A $54 petty cash fund has cash of $19 and receipts of $24. The journal entry to replenish the account would include a a.credit to Petty Cash for $24. b.debit to Cash Short and Over for $11. c.credit to Cash for $54. d.debit to Cash for $19.