A company needs to replenish its $500 petty cash fund. Its petty cashbox has $75 cash and petty cash receipts of $420. The journal entry to replenish the fund includes a. A debit to Cash for $75. b. A credit to Cash for $75. c. A credit to Petty Cash for $420. d. A credit to Cash Over and Short for $5. e. A debit to Cash Over and Short for $5.

Q: Journalize the necessary entries for each of the following: a. Issued a check to establish a petty…

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

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: Jim's Limousines' entry to establish a​ $160 petty cash fund for the office would include​ a:    A.…

A: A petty cash fund is created so that the nominal expenses can be fulfilled from this fund only.

Q: The entry to establish a petty cash fund includes: O A. O B. A debit to Cash and a credit to Cash…

A: Petty cash is termed as the small cash amount which is kept on the premises of the company in order…

Q: On September 1, French company has decided to initiate a petty cash fund in the amount of $800. A.…

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

Q: The journal entry to record the issuance of the initial check to establish a petty cash fund of $750…

A: Petty cash: Petty cash fund is eastiblished to pay small amount expenses. Office supplies, postage…

Q: The petty cash fund at Brookshire Company has a designated balance of $250. The fund currently holds…

A: Petty cash funds are the funds which are created for small day to day expenses. The main cashier…

Q: Journalize the entries to record the following: Check No. 245-13 is issued to establish a petty…

A: a. Journalize the entry to establish the petty cash fund. No. Particulars Debit Credit   Petty…

Q: A $102 petty cash fund contains $90 in petty cash receipts, and $7 in currency and coins. Which of…

A:

Q: A company needs to replenish its $500 petty cash fund. Its petty cashbox has $75 cash and petty cash…

A: Petty cash fund is maintained when the number of small cash expenses are in huge number for an…

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: Prepare journal entries for the above transactions. If an amount box does not require an entry,…

A: Petty cash book :- Petty cash book is a book that records small small expenses that are incurred in…

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: Seal Mate established a $100 petty cash fund on June 1. On June 30, the fund had $10 cash and petty…

A: Journal entries are made to record the transactions as the first process in the books of accounts…

Q: Assume that the custodian of a $465 petty cash fund has $67.50 in coins and currency plus $391.50 in…

A: The petty cash balance is maintained for day to day cash transactions of the business.

Q: Petty Cash Fund Prepare journal entries for each of the following. For a compound transaction, if an…

A: a. Record entry to issue petty cash fund as shown below:

Q: A $150 petty cash fund has cash of $25 and receipts of $119. The journal entry to replenish the…

A: A Journal entry is a primary entry that records the financial transactions initially. The…

Q: Journalize the entries to record the following: Check is issued to establish a petty cash fund of…

A: Working Notes: calculation of short cash = Petty cash Fund - Closing Balance of Petty cash -…

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: On March 20, Vaughn's petty cash fund of $108 is replenished when the fund contains $15 in cash and…

A: The petty cash fund is established to maintain the cash balance for day to day transactions of the…

Q: Journalize the entries to record the following: Required: a. On March 1, check is issued to…

A: Petty cash funds are those funds which are maintained for small petty expenses of the business.…

Q: To record the journal entry to establish a Petty Cash fund for $350, you would Check All That Apply…

A: Petty cash is the amount of cash kept with the cashier for the purpose of small daily expenses. It…

Q: s established at $100. After the first month, the cash in the petty cash box amounted to $21. The…

A: A Petty cash fund is established to take care of the daily small expenses of a firm. This is…

Q: ournalize the entries to record the following: Required: a. On March 1, check is issued to establish…

A: Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…

Q: A $146 petty cash fund has cash of $23 and receipts of $131. The journal entry to replenish the…

A: Petty cash is a small amount of money, kept for meeting minor expenses, which are too small to be…

Q: Journalize the entry to replenish the petty cash fund. If an amount box does not require an entry,…

A: Step 1 Journal is the part of the book keeping.

Q: $162 petty cash fund has cash of $37 and receipts of $124. The journal entry to replenish the…

A: The petty cash account is used for payouts small incidental expenses such as utility expenses,…

Q: On June 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,300. A. On…

A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…

Q: On June 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,300. A. On…

A: Petty cash fund  It is a certain amount of fund which is kept aside for meeting small and day to day…

Q: If a petty cash fund is established in the amount of $348 and contains $200 in cash and $134 in…

A: JOURNAL ENTRY FOR REPLENISHMENT :  PARTICULARS DEBIT CREDIT SUNDRY EXPENSE $134   CASH…

Q: Petty Cash Fund Entries Journalize the entries to record the following: Check is issued to…

A: Answer a:

Q: A $65 petty cash fund has cash of $20 and receipts of $60. The journal entry to replenish the…

A: Petty cash book  is the cash books in which we include small expenses, It is sorted by date, we can…

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: The entry to replenish the petty cash fund for $250 of various minor expenses would include a debit…

A: A petty cash fund is a very small amount of cash that is kept on hand to pay for various minor…

Q: Prepare journal entries for each of the following: Question Content Area a.  Issued a check to…

A: When a petty cash fund is established, a check is issued to transfer the necessary funds from the…

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: A $115 petty cash fund has cash of $22 and receipts of $83. The journal entry to replenish the…

A: Petty cash is the cash account managed to incur minor expenses related to business operations. The…

Q: Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of…

A: Petty cash: Petty cash fund is established to manage the payment for small business expenditures…

Q: Knowledge Check Seal Mate established a $100 petty cash fund on June 1. On June 30, the fund had $17…

A: Petty cash is money kept for small and incidental expenses. Petty cash is current account and…

Q: A $250 petty cash fund has cash of $15 and receipts of $230. The journal entry to replenish the…

A: Particulars  Debit (in $) Credit (in $) Expenses  Cash short and over [250 - (230+15)]…

Q: Sandhill's Snack Shop has a petty cash fund of $105. On November 30, the fund contained $8 in cash…

A: A petty cash book- is record of day to day routine business expenditures such as stationary, fuel,…

Q: A $73 petty cash fund has cash of $17 and receipts of $66. The journal entry to replenish the…

A: Petty Cash Fund : Petty cash fund means small amount kept aside to pay Petty expenses.  Such as…

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.