During the month a company paid $27 for office supplies and $13 for miscellaneous expenses from the petty cash fund. The entry to replenish the petty cash fund at the end of the month would include Multiple Choice   a debit to Petty Cash for $40.   a credit to Cash for $40.   a debit to Cash for $40.   a credit to Office Supplies for $27.

Q: Prepare journal entries for Crane Company for May 1, June 1, July 1, and July 10.

A:

Q: Prepared a company check for $400 to establish the petty cash Prepared a company check to replenish…

A: Petty cash fund is that fund which is established for small petty expenses in the business. Imprest…

Q: June 1. Established a petty cash fund of $9.30. 12. The cash sales for the day, according to the…

A: Journal entries: Date General Journal Debit Credit June 1 Petty Cash $930     Cash…

Q: Cullumber Company established a petty cash fund on May 1 for $100. The company reimbursed the fund…

A: Petty cash fund will be used for petty expenses. First, we take some amount from the bank account…

Q: On March 1, a company established a $75 petty cash fund. On March 12, the petty cash fund contains…

A: Journal entries are the initial recording of all the monetary business transactions in a systematic…

Q: Kiona Company set up a petty cash fund for payments of small amounts. The following transactions…

A: A journal entry frequently has supporting documents attached, is printed, and is preserved in a…

Q: A company's Cash account shows a balance of $3,410 at the end of the month. Comparing the company's…

A: Bank reconciliation statement is used to determine the differences between the bank statement…

Q: Crane Company established a $100 petty cash fund on August 1. On August 31, the fund had $5 cash…

A: Date Accounts title and Explanation Debit ($) Credit ($) Aug 01 Petty Cash $100…

Q: Required: 1. Prepare the journal entry to establish the petty cash fund. 2 Prepare a petty cash…

A: Preparing the petty cash fund and petty cash report form.

Q: The following is information related to Sunland Company for its first month of operations. Credit…

A: When an organization prepares the subsidiary ledger, it contains more detailed information about the…

Q: On March 20, Oriole's petty cash fund of $119 is replenished when the fund contains $12 in cash and…

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

Q: Halle's Berry Farm establishes a $400 petty cash fund on September 4 to pay for minor cash…

A: Petty cash expenses are used to record small business expenditure by separately setting up a petty…

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

A:

Q: Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions…

A: Petty Cash is maintained for the petty day-to-day expenses. If the value of invoices for the…

Q: The custodian of a $450 petty cash fund discovers that the fund has $55.90 in coins and currency…

A: Petty Cash :A petty cash fund is a small quantity of corporate cash that is frequently kept on hand…

Q: 4. Robinson Legal Services, Inc. established a $220 petty cash fund. During the month, the fund was…

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

Q: T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200. By the end of…

A: Petty cash: Petty cash fund is eastiblished to pay insignifinant amount small expenses like office…

Q: The custodian of a $600 petty cash fund discovers that the fund has $ 112.50 in coins and currency…

A: Petty cash fund is a small amount of cash that a business keeps aside to pay for minor, everyday…

Q: T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200. By the end of…

A: The journal entries are prepared to record the transactions on regular basis. The adjustment entries…

Q: Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the…

A: Solution:- Preparation of the necessary entries to adjust the balance of cash as follows under:-

Q: On February 1, Derrick Company establishes a $200 petty cash fund. Complete the necessary journal…

A: A petty cash fund is separated from the actual cash for petty expenses and replenished periodically.…

Q: Skysong Company established a petty cash fund on May 1 for $100. The company reimbursed the fund on…

A: On establishment of petty cash fund the cash will go to petty cash fund.

Q: Halle's Berry Farm establishes a $350 petty cash fund on September 4 to pay for minor cash…

A: Petty cash is a small sum of money kept on hand to cover unexpected expenses such as reimbursements…

Q: At the end of the day, the cash register tape lists $1,147.42 as total income from services. Cash on…

A: Cash short and over = Income from services + Change Fund - coins - currency - traveler's checks -…

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.