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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A. Started a petty cash fund in the amount of $250.B. Replenished petty cash fund using the following expenses: Auto Expense $72, Office Expense $82, Postage Expense $90, Miscellaneous Expense $6. Cash on hand is $10.C. Increased petty cash by $100. Record these transactions. If an amount box does not require an entry, leave it blank. A. Petty Cash Petty Cash Cash Cash B. Auto Expense Auto Expense Office Expense Office Expense Postage Expense Postage Expense Miscellaneous Expense Miscellaneous Expense Cash Over and Short Cash Over and Short Cash Cash C. Petty Cash Petty Cash Cash Cash
A $220 petty cash fund has cash of $10 and receipts of $206. The journal entry to replenish the account would include a credit to a.Cash Short and Over for $4. b.Petty Cash for $216. c.Cash for $210. d.Cash for $10.
Matching Question Match the banking term on the left with its definition on the right. Drag and drop application. Deposit ticket Deposit ticket drop zone empty. Check Check drop zone empty. Bank account Bank account drop zone empty. Remittance advice Remittance advice drop zone empty. Electronic funds transfer Electronic funds transfer drop zone empty. Lists currency, coins and checks deposited into an account Explains the reason for payment Used to deposit money for safekeeping and help control withdrawals. A document signed by the depositor instructing the bank to pay a specified amount of money Electronic transfer of cash from one party to another
On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the amount remaining in the fund was RO 80. It had the following data Postage Expense RO 150 Freight-In 340 Entertainment of clients 228 Supplies Expense 160 The journal entry to establish the petty cash fund would include a: Select one: O a debit to Cash for RO 750. O b.credit to Cash Over and Short for RO 48. O c None of the answers are correct O d. credit to Cash for RO 700. O e. credit to Cash for RO 52.
Record the following transactions: Started a petty cash fund in the amount of $1,000. Replenished petty cash fund using the following expenses: Auto $61, Office Expenses $23, Postage Expense $57, Miscellaneous Expenses $30. The company has decided to reduce the petty cash fund to $600.
On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the amount remaining in the fund was RO 80. It had the following data: Postage Expense RO 150 Freight-In 340 Entertainment of clients 228 Supplies Expense 160 The journal entry to replenish the account would include: Select one: O a. None of the answers are correct. O b. debit to Petty Cash for RO 750. O cebit to Cash Over and Short for RO 8. O d. credit to Cash for RO 52. O e. credit to Cash Over and Short for RO 8.
A $126 petty cash fund contains $116 in petty cash receipts, and $7 in currency and coins. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. credit to Cash Short and Over for $3 debit to Cash Short and Over for $3 credit to Cash for $116 credit to Petty Cash for $126
7. Journalize the entries to record the following: established a petty cash fund of $350 The amount of cash in the petty cash fund is now $130. The fund is replenished based on the following receipts: office supplies, 116; Sep 1 Sep 30 postage $100. Record any discrepancy in the cash short and over account. D Focus
Please don't give image based answer.. thanku
A $81 petty cash fund has cash of $25 and receipts of $59. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. debit to Cash for $25 credit to Cash Short and Over for $3 credit to Petty Cash for $59 credit to Cash for $81
1.Journalize and post transactions on account to the cash payments j ournal 2.Complete the petty cash report by classifying each expense to compute the actual cash on hand. 3.Print the cash paymentsjournal and petty cash report. The cash paymentsjournal and a petty cash report for Electronic Source are given in the Worlting Papers. Instructions: Use page 9 of a cash payments journa l tojourna lize the following transactions completed during September of the cun-ent year.Source documents are abbreviated as follows check,C;purchase invoice,P.Save your work to complete Problem 9-S. Transactions: Sept 2.Paid cash for advertising, $125.00.C388. 5.Paid cash on account to Henson Audio, $2,489.00, covering P346,less 2% discount. C389. 8.Paid cash for heating bill, $240.00.C390 . 10.Paid cash on account to Peterson Electronics,$3,484.00 covering P349,less 2% discount.C391. 12.Paid cash for office supplies,$43.00.C392$. 15.Paid cash to KLP Mfg.for merchandise with a list…
A $54 petty cash fund has cash of $19 and receipts of $24. The journal entry to replenish the account would include a a.credit to Petty Cash for $24. b.debit to Cash Short and Over for $11. c.credit to Cash for $54. d.debit to Cash for $19.