Journalize the entry to replenish the petty cash fund. If an amount box does not require an entry, leave it bla Office Supplies Miscellaneous Selling Expense Miscellaneous Administrative Expense Cash Short and Over Cash
Q: Journalize the necessary entries for each of the following: a. Issued a check to establish a petty…
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
Q: A $195 petty cash fund has cash of $20 and receipts of $161. The journal entry to replenish the…
A: Journal entry is a process of recording business transactions in the books of accounts for the first…
Q: Cullumber Corporation shipped $21,600 of merchandise on consignment to Oriole Company. Cullumber…
A: Method of recording financial transactions in the book of original entries by debiting and crediting…
Q: The type of account and normal balance of Petty Cash is a(n) Select one: A. asset, debit B.…
A: Current option is A i.e. asset, debit
Q: Record the amounts that increase cash.
A: Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own…
Q: A$130 petty cash fund has cash of $16 and receipts of $111. The journal entry to replenish the…
A: Cash short (over) = Petty cash fund - cash - receipts = 130-16-111 = $3
Q: Open a ledger account for Cash in balance column format. Post general journal entries that impact…
A: The ledger account is prepared in t-format. It is also called a t-account or subsidiary ledger. It…
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: Which of the following items on a cash reconciliation would require a journal entry by the company?…
A: The bank reconciliation statement is prepared to equate the balances of the cash book and pass book…
Q: A $102 petty cash fund contains $90 in petty cash receipts, and $7 in currency and coins. Which of…
A:
Q: $121 petty cash fund has cash of $19 and receipts of $99. The journal entry to replenish the account…
A: Replenish of petty cash fund means reimbursement of petty cash fund.
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: Which of the following items should not be included in the Cash? O A. Petty cash and change funds…
A: The balance sheet represents the financial position of the business with assets and liabilities on a…
Q: The actual cash received from cash sales was $12,100 and the amount indicated by the cash register…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: Journal entries commonly processed as part of the purchases and cash disbursements can include: A…
A: Purchases of the business includes goods and services purchased for the business. It can be on cash…
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: 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: Petty Cash Fund Prepare journal entries for each of the following. For a compound transaction, if an…
A: a. Record entry to issue petty cash fund as shown below:
Q: Entry for Cash Sales; Cash Over The actual cash received from cash sales was $14,953 and the amount…
A: Journals: Recording of a business transactions in a chronological order. First step in the…
Q: A $150 petty cash fund has cash of $54 and receipts of $83. The journal entry to replenish the…
A: Cash Short (Over) = Petty cash fund - cash - receipts = $150 - 54 - 83 = $13
Q: A $144 petty cash fund has cash of $24 and receipts of $109. The journal entry to replenish the…
A: The corporation create petty cash fund to meet its sundry expenses took place in daily course of…
Q: Journalizing petty cash Prepare the journal entries for the following petty cash transactions of…
A: Date Account Titles and Explanation Debit Credit March 1 Petty cash $250 Cash…
Q: Which of the following transactions will require a journal entry? Indicate if it will be a debit or…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: Nakashima Gallery had the following petty cash transactions in February of the current year.…
A: A petty Cash Fund is a small amount of cash that is often kept for day-to-day expenses of the…
Q: 1. Brooks Agency set up a petty cash fund for $140. At the end of the current period, the fund…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Entry for cash sales; cash short The actual cash received from cash sales was $35,440, and the…
A: Journal Entry is the primary step in recording the transactions in the books of accounts.The…
Q: A $146 petty cash fund has cash of $23 and receipts of $131. The journal entry to replenish the…
A: Petty cash is a small amount of money, kept for meeting minor expenses, which are too small to be…
Q: Entry for Cash Sales; Cash Over The actual cash received from cash sales was $14,806 and the amount…
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
Q: On October 1, 20- a check was written in the amount of $300 to establish a pet Voucher No Account…
A: Petty cash refers to a small amount of cash that is kept on hand by a business or organization to…
Q: Entry for Cash Sales; Cash Short The actual cash received from cash sales was $31,072 and the amount…
A: Journal entry of cash receipt and cash sale Date Particulars Post. Ref Amount ( Dr.) Amount( Cr)…
Q: $162 petty cash fund has cash of $37 and receipts of $124. The journal entry to replenish the…
A: The petty cash account is used for payouts small incidental expenses such as utility 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: 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: If a petty cash fund is established in the amount of $348 and contains $200 in cash and $134 in…
A: JOURNAL ENTRY FOR REPLENISHMENT : PARTICULARS DEBIT CREDIT SUNDRY EXPENSE $134 CASH…
Q: For each Petty Cash payment, the custodian of the account prepares a(n). O O O O O invoice receipt…
A: For each petty cash payment, the custodian of the account prepares a(n)""petty cash ticket". A Petty…
Q: A $65 petty cash fund has cash of $20 and receipts of $60. The journal entry to replenish the…
A: Petty cash book is the cash books in which we include small expenses, It is sorted by date, we can…
Q: A $142 petty cash fund has cash of $22 and receipts of $126. The journal entry to replenish the…
A: Petty cash is the fund which is kept by the entity with the cashier so as to pay off the petty…
Q: The entry to replenish the petty cash fund for $250 of various minor expenses would include a debit…
A: A petty cash fund is a very small amount of cash that is kept on hand to pay for various minor…
Q: Describe an entry needed to establish a $50 petty cash fund and an entry to reimburse the fund
A: Petty cash is the amount that is to be kept aside for the reimbursement of routine and minor…
Q: Prepare journal entries for each of the following: Question Content Area a. Issued a check to…
A: When a petty cash fund is established, a check is issued to transfer the necessary funds from the…
Q: A $180 petty cash fund has cash of $15 and receipts of $180. Which of the following would be part of…
A: The petty cash fund has a receipt of $180 thus a Petty Cash Fund A/c was debited for $180 and Cash…
Q: at the time of replenishment, why are the totals of individual expenses debited? explain the…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: A $115 petty cash fund has cash of $22 and receipts of $83. The journal entry to replenish the…
A: Petty cash is the cash account managed to incur minor expenses related to business operations. The…
Q: What is included in the journal entry necessary to record the collection of the cash for a…
A: The journal entries are the first step of accounting that are prepared to record the transactions in…
Q: When posting the column totals of a cash payments journal, a debit should be posted to a.Unearned…
A: answer c Account Payable is right answer.
Q: Entry for Cash Sales; Cash Over The actual cash received from cash sales was $14,953 and the amount…
A: Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting…
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- A $73 petty cash fund has cash of $17 and receipts of $66. The journal entry to replenish the account would include a a.credit to Cash for $73 b.credit to Petty Cash for $66 c.credit to Cash Short and Over for $10 d.debit to Cash for $17Issued a check to establish a petty cash fund of $550. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blank Question Content Area b. The amount of cash in the petty cash fund is $190. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $211, and miscellaneous selling expense, $133. Record any missing funds in the cash short and over account. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blankThe entry to replenish the petty cash fund debited Insurance Expense for postage. This would cause: A. Petty Cash to be overstated. B. Postage Expense to be overstated. C. Cash to be understated. D. Insurance Expense to be overstated.
- Question 5 of 6 View Policies Date Receipt No. 3/5 7 Current Attempt in Progress Sheridan Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $105. During March, the following petty cash receipts were found in the petty cash box. 9 11 14 1 2 3 4 For Stamps Freight-Out Miscellaneous Expense Travel Expense Miscellaneous Expense Amount $32 13 14 31 -/12 7 : The fund was replenished on March 15 when the fund contained $5 in cash. On March 20, the amount in the fund was increased to $200.A $84 petty cash fund has cash of $17 and receipts of $72. The journal entry to replenish the account would include a Oa. credit to Cash Short and Over for $5 Ob. debit to Cash for $17 Oc. credit to Cash for $84 Od. credit to Petty Cash for $72A $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.
- A $187 petty cash fund has petty cash on hand of $20 and receipts of $162. The journal entry to replenish the fund would include a O a. debit to Cash for $20. O b. debit to Cash Short and Over for $5. O e credit to Petty Cash for $162. O d. credit to Cash for $187.Based on the bank reconciliation THAT IS ATTACHED, journalize the entry or entries to be made by Kornett Company. If an amount box does not require an entry, leave it blank. Description Debit Credit choices: Accts Receivable, Cash, Cost of Merchandise Sold, Misc Expense, Petty Cash choices: Accts Payable, Accts Receivable, Cash short and over, Cost of Merchandise sold, Sales choices: Accts Payable, Bad debit expense, Cash, Cost of merchandise sold, Petty cashA $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
- Required information Exercise 6-14A (Algo) Effect of petty cash events on the financial statements LO 6-4 [The following information applies to the questions displayed below.] Fresh Foods established a petty cash fund of $350 on January 2. On January 31, the fund contained cash of $166.00 and vouchers for the following cash payments. Maintenance expense Office supplies Transportation expense $72.00 72.00 37.00 The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. Assume the company uses the alternative approach to petty cash expense recognition and replenishment.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 $811.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…