A. Started a petty cash fund in the amount of $450. B. Replenished petty cash fund using the following expenses: Auto Expense $22, Office Expense $41, Postage Expense $24, Miscellaneous Expense $35. Cash on hand is $328. C. The company has decided to reduce the petty cash fund to $250. Record these transactions. If an amount box does not require an entry, leave it blank

Q: Mercury Company established a petty cash fund with a​ $400 balance. Which of the following…

A: Petty cash is a little sum of money that is always on hand to cover small expenses that don't…

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A: Petty cash fund is a fund maintained by the cashier in an organization to pay the regular…

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: On April 2, Granger Sales decides to establish a $370 petty cash fund to relieve the burden on…

A: Date particulars amount amount Apr 2  petty cadh $370     Cash   $370   Being cash paid…

Q: On September 30, Hector's petty cash fund of $185 is replenished. At the time, the cash box…

A: JOURNAL ENTRIES Journal Entry is the First stage of Accounting Process. Journal Entry is the Process…

Q: Alpha Technologies provides computer maintenance services and has the following information for…

A: cash shortage and overage happens because of differences between the physical amount of cash and…

Q: A business operates an imprest system for petty cash. The imprest amount is $400. At the end of the…

A: We have the following information: Imprest Amount: $400 Private Phone Calls: $30 Vouchers…

Q: PA1. On September 1, French company has decided to initiate a petty cash fund in the amount of $800.…

A: Petty cash is a fixed amount set aside to meet day to day expense of small values. Petty cash fund…

Q: Night Club maintains an imprest petty cash fund of $100, which is under the control of Sandra…

A: A business or organization's small cash reserve is referred to as petty cash, and it is used to pay…

Q: Bonita Company established a $110 petty cash fund on August 1. On August 31, the fund had $16 cash…

A: Journal Entries Date Particulars LF Debit ($) Credit ($) 01st Aug Petty Cash   110…

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: A company had $43 missing from petty cash that was not accounted for by petty cash receipts. The…

A: A petty cash book consists  of the petty cash expenditures  incurred

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: The purpose of a petty cash fund is toa. Provide a convenient form of payment for the company’s…

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

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: 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: Carla Vista Ltd. designated Alexa Kidd as petty cash custodian and established a petty cash fund of…

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

Q: A. Started a petty cash fund in the amount of $450. B. Replenished petty cash fund using the…

A: Petty cash fund is that fund which is established for the purpose of paying very small or petty…

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: The actual cash received from cash sales was $14,953 and the amount indicated by the cash register…

A: Journal is the book where transactions are originally recorded.  Journal entry: A journal entry is…

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

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: Use the following cash receipts journal to record the transactions. (If a box is not used in the…

A: Entry 1 Jul 5 Cash Dr.      $2700                 To sales               $2700 (Being cash sales…

Q: On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto…

A: Conceptual base - Petty cash is the small amount of cash kept on hand for small cash payments and…

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 company established a petty cash fund for minor day-to-day expenses. Following are activities…

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

Q: Make journal entry using cash count sheet. BE7.7 (LO 2), AP While examining cash receipts…

A: Journal entry is defined as the recording of transactions in the books of a company. When a journal…

Q: A petty cash fund was established with a $200 balance. It currently has cash of $40 and petty cash…

A: Lets understand the basics.Entity creates petty cash by moving some few amount of money into petty…

Q: On March 20. Sheffield's petty cash fund of $114 is replenished when the fund contains $7 in cash…

A: Petty cash means where a separate cash book is maintained which usually deals with a small amount of…

Q: Prepare journal entries for each of the following:a. Issued a check to establish a petty cash fund…

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

Q: Record the following transactions into the general journal.  Be sure to include explanations.  When…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: A. Started a petty cash fund in the amount of $400. B. Replenished petty cash fund using the…

A: Petty cash fund is a fund setup in organisation that is meant for only small or petty expenses.

Q: March 1 Established a petty cash fund of $877. March 31 The amount of cash in the petty cash fund is…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: A petty cash fund, established with a $300 balance, had petty cash receipts (tickets/vouchers)…

A: Petty cash is used for a variety of little costs; receipts are gathered and transactions are…

Q: A. Started a petty cash fund in the amount of $250. B. Replenished petty cash fund using the…

A: Transaction  General Journal   Debit   Credit  A.  Petty Cash  $250                Cash    $250…

Q: Journalize the entries to record the following: March 1 Established a petty cash fund of $877.…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Started a petty cash fund in the amount of $250. B. Replenished petty cash fund using the following…

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

Q: Pharoah Ltd. designated Alexa Kidd as petty cash custodian and established a petty cash fund of…

A: The petty cash fund is the current asset of the business. It is established to maintain the smaller…

Q: record the following transactions: A. Started a petty cash fund in the amount of $500 B.…

A: Solution- S no Particular Amount DR Amount CR 1 Petty cash --------------------------------DR…

Q: debit Cash Over and Short for $4. C.

A:

Q: A. Started a petty cash fund in the amount of $300. B. Replenished petty cash fund using the…

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

Q: 7. On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200.…

A: Petty Cash The cash book is the most important subsidiary book which is used to record all receipts…

Q: On Jan. 14, the petty cash fund needed replenishment, and the following are the receipts: Auto…

A:

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.