A $180 petty cash fund has cash of $15 and receipts of $180. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. a-debit to Cash for $15 b-credit to Cash Short and Over for $15 c-credit to Petty Cash for $180 d-credit to Cash for $180

A $180 petty cash fund has cash of $15 and receipts of $180. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. a-debit to Cash for $15 b-credit to Cash Short and Over for $15 c-credit to Petty Cash for $180 d-credit to Cash for $180

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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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 $180 petty cash fund has cash of $15 and receipts of $180. Which of the following would be part of the journal entry to replenish the account?

Select the correct answer.

a-debit to Cash for $15

b-credit to Cash Short and Over for $15

c-credit to Petty Cash for $180

d-credit to Cash for $180

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Accounting for Cash and cash equivalents

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D5.
[The following Information applles to the quIestions alsplayed below Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and It reported two checks outstanding, No. 5888 for $1,028.05 and No. 5893 for $494.25. The following Information Is avallable for Its September 30 reconcilation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 16,800.45 9,628.85 11,272.85 18,453.25 CHECKS AND DEBITS DEPOSITS AND CREDITS Date No. Anount Date Aпount 09/03 09/04 09/07 09/17 09/28 09/22 09/22 09/28 69/29 5888 1,e28.es 69/05 09/12 1,183.75 5982 719.90 2.226.90 5981 1,824,25 09/21 4,093.ee 2,351.7e 09/25 09/30 09/30 6e0.25 NSF 5985 937.00 12.5e IN 1,485.ee CM 5983 399.10 2,e90.ee 5984 5987 213.85 5989 1,807.65 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit 1,183.75 2,226.90 4,093.ee 2,351.7e 1,682.75 Sep. 5 12 21 25 30 11,458.18 Cash Disbursenents Check…
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