eBook Recording Petty Cash Fund Transactions Illustrate the effect on the accounts and financial statements of the following transactions. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. a. Established a petty cash fund of $1,125. Statement of Cash Flows Assets Statement of Cash Flows Assets Balance Sheet + = b. The amount of cash in the petty cash fund is now $169. Replenished the fund, based on the following summary of petty cash receipts: office supplies, $506; miscellaneous selling expense, $197; miscellaneous administrative expense, $253. Enter account decreases and cash outflows as negative amounts. Balance Sheet Liabilities = Income Statement + Stockholders' Equity Liabilities + Stockholders' Equity + Income Statement

eBook Recording Petty Cash Fund Transactions Illustrate the effect on the accounts and financial statements of the following transactions. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. a. Established a petty cash fund of $1,125. Statement of Cash Flows Assets Statement of Cash Flows Assets Balance Sheet + = b. The amount of cash in the petty cash fund is now $169. Replenished the fund, based on the following summary of petty cash receipts: office supplies, $506; miscellaneous selling expense, $197; miscellaneous administrative expense, $253. Enter account decreases and cash outflows as negative amounts. Balance Sheet Liabilities = Income Statement + Stockholders' Equity Liabilities + Stockholders' Equity + Income Statement

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter6: Cash And Internal Control

Section: Chapter Questions

Problem 6.9MCE

See similar textbooks

Similar questions

Recording Petty Cash Fund Transactions Illustrate the effect on the accounts and financial statements of the following transactions. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. a. Established a petty cash fund of $750. Balance Sheet Assets = Liabilities + Stockholders' Equity Cash + Petty Cash = No Effect + No Effect fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Statement of Cash Flows Income Statement No effect fill in the blank 10 No effect fill in the blank 12 b. The amount of cash in the petty cash fund is now $188. Replenished the fund, based on the following summary of petty cash receipts: office supplies, $262; miscellaneous selling expense, $131; miscellaneous administrative expense, $169. Enter account decreases and cash outflows as negative…
Calculator Entries are made to the petty cash account when Oa. replenishing the petty cash fund Ob. Ob. recording shortages in the fund Oc. establishing the fund Od. making payments out of the fund
i need the answer quickly
Which one of these principles is considered for cash disbursement control Select one: O a. Print check amount by machine O b. Same staff approve and make payment Oc. Reconcile bank statement annually O d. Rarely compare checks to invoices
H1. Account
dont give answer in inage format
Journalize the entries to record the following: a. Check is issued to establish a petty cash fund of $750. b. The amount of cash in the petty cash fund is now $176. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $248; miscellaneous selling expense, $212; miscellaneous administrative expense, $96. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $750, record the discrepancy in the cash short and over account.) a. Journalize the entry to establish the petty cash fund. Petty Cash v Cash v
Do not give image format
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
the balance on the debit side of teh bank column of cash book indicates Question 3 options: total amount overdraft in the bank amount has drawn from the bank cash at bank none of the above
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)
show how the accounts related to the preceding sale and collection activities shoukd be reported on the current year income statement PLEASE DO NOT ANSWER IMAGE FORMET