Answered: Assume that the custodian of a $450…

Assume that the custodian of a $450 petty cash fund has $57.10 in coins and curency plus $387.00 in recipts at the end of the month. The entry to replenish the petty cash fund will include:?

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 7E

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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

Assume that the custodian of a $450 petty cash fund has $57.10 in coins and curency plus $387.00 in recipts at the end of the month. The entry to replenish the petty cash fund will include:?

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Accounting for Cash and cash equivalents

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CASH SHORT AND OVER ENTRIES Based on the following information, prepare the weekly entries for cash receipts from service fees and cash short and over. A change fund of 100 is maintained.
The custodian of a $600 petty cash fund discovers that the fund has $ 112.50 in coins and currency plus $ 472.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include:
Assume that the custodian of a $465 petty cash fund has $67.50 in coins and currency plus $391.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice A debit to Cash for $386. A debit to Cash Over and Short for $6.00. A debit to Petty Cash for $391.50. A credit to Cash for $391.50. A credit to Cash Over and Short for $398.
The custodian of a $450 petty cash fund discovers that the fund has $55.90 in coins and currency plus $389.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice O A credit to Cash for $39410 A debit to Cash for $39410 A credit to Cash Over and Short for $460 A deba to Cash for $384.90 A debt to Potty Cash for $389 50.
please answer within 30 minutes.
The custodian of a $540 petty cash fund discovers that the fund has $92.50 in coins and currency plus $436.50 In receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice A debit to Cash for $426. A debit to Cash Over and Short for $11.00. A credit to Cash Over and Short for $448. O A debit to Petty Cash for $436.50. 0. A credit to Cash for $436.50.
The custodian of a $450 petty cash fund discovers that the fund has $54.30 In coins and currency plus $391.50 In receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice A credit to Cash Over and Short for $4.20. O A debit to Cash for $395.70. О A debit to Cash for $387.30. O A debit to Petty Cash for $391.50. O. A credit to Cash for $395.70.
Please help me
Conway Designs established a $290 petty cash fund on October 1, 2020. Prepare the entry to replenish the fund at the end of each of the following months of activity: The petty cash box contained $32 on October 31 along with receipts for $150 for cleaning, $35 for postage, and $63 for delivery expenses. On November 30, the petty cash box contained only two receipts, for a $105 computer repair and a $131 entertainment expense. The petty cash custodian counted cash remaining of $58. The petty cash box contained $15 on December 31 plus receipts for $61 for gas expense, $146 for office supplies, and $68 for entertainment expenses. In addition to replenishing the fund, it was increased by $80. Journal Entry 1. Record to reimburse the fund (Oct 31, 2020) 2. Record to reimburse the fund (Nov 30, 2020) 3. Record to reimburse the fund (Dec 31, 2020)
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a $200 petty cash fund has cash for $10 and receipts of $220. The journal entry to replenish the account would include a credit to