Loucks Company established a $200 petty cash fund on October 2, 2018. The fund is replenished at the end ofeach month. At the end of October 2018, the fund contained $37 in cash and the following receipts:Office supplies $76Lunch with client 48Postage 20Miscellaneous 19Required:Prepare the necessary general journal entries to establish the petty cash fund on October 2 and to replenish thefund on October 31.

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

A:

Q: pany set up a petty cash fund for payments of small amounts. The following transactions invo ccurred…

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

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: On April 2, Granger Sales decides to establish a $370 petty cash fund to relieve the burden on…

A: Date particulars amount amount Apr 2  petty cadh $370     Cash   $370   Being cash paid…

Q: On September 30, Hector's petty cash fund of $185 is replenished. At the time, the cash box…

A: JOURNAL ENTRIES Journal Entry is the First stage of Accounting Process. Journal Entry is the Process…

Q: replenish the petty cash fund at the end of January.

A: Petty cash fund is prepared by companies to cover minor expenditures of business. It is an asset…

Q: the petty cash fund of the wee ones agency was established on may1, 2023, at $75. at the end of the…

A: Journal Entries to Record the Establishment of the Fund  - Date May 1, 2023  1.   Petty Cash A/c…

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 April 3rd, Snappy Sales decides to establish a $135.00 Petty Cash Account to relieve the burden…

A: Please find the answers to the above questions below:

Q: On January 1, 2020, Jonas Company established a petty cash fund of $500. By March 31, 2020, when the…

A: Establishment of Petty Cash FundOn January 1, 2020, Jonas Company established a petty cash fund of…

Q: Cheyenne Company established a petty cash fund on May 1, cashing a check for $115. The company…

A: Petty cash account is debited if the established a petty cash fund or increases the a petty cash…

Q: Assume that the custodian of a $465 petty cash fund has $67.50 in coins and currency plus $391.50 in…

A: The petty cash balance is maintained for day to day cash transactions of the business.

Q: Quibble Company established a $300 petty cash fund by issuing a check to the custodian on February…

A: Step 1: Debit all the petty cash receipts to recognize them as expenses and so that their amounts…

Q: The Crying Fish has a change fund of $300. Cash sales on August 10 per the cash register are $1,125.…

A: Change fund is a set of money used by the department to make change to the customers, who purchase…

Q: list entry worksheet entry to recognize expenditures from the petty cash fund. bits before credits.…

A: Ans. Journal entry to record expenses made from petty cash funds can be passed either by making a…

Q: Domestic

A: Journal Entries for Kiona Company's Petty Cash FundMay 1 - Establish the FundPetty Cash ($350.00)…

Q: Loucks Company established a $220 petty cash fund on October 2, 2024. The fund is replenished at the…

A: JOURNAL ENTRIESJournal Entry is the first stage of Accounting Process. Journal Entry is the Process…

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

A: Petty Cash Fund Tiny sums of cash called "petty cash" are maintained on hand to cover small,…

Q: A petty cash fund was originally established with a cheque for $150. On December 31, you find the…

A: Introduction:- petty cash fund is used to pay for small expenses for everyday. Examples:- postage…

Q: on March 20, bramble's petty cash fund of $113 is replenished when fund contains $13 in cash, and…

A: The objective of the question is to create an accounting journal entry for the replenishment of…

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

A: A petty cash fund is created to maintain cash balance for day to day cash transactions of a…

Q: s established at $100. After the first month, the cash in the petty cash box amounted to $21. The…

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Q: Corbett Corp. set up a $500 petty cash fund on October 1, 2022. They replenish the petty cash fund…

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Q: Palmona Company establishes a $180 petty cash fund on January 1. On January 8, the fund shows $83 in…

A: Petty Cash fund is a small amount of cash which is held to meet the small incidental expenses in the…

Q: A company establishes a petty cash fund for $480. By the end of the month, employees had made the…

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Q: Waupaca Company establishes a $410 petty cash fund on September 9. On September 30, the fund shows…

A: The question is based on the concept of Financial Accounting.

Q: During the month a company paid $27 for office supplies and $13 for miscellaneous expenses from the…

A: Fund used=Office supplies+Miscellaneous=$27+$13=$40

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

A: May 1. The establishment of the petty cash fund is recorded as debit to Petty Cash Fund and credit…

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

A: Petty Cash Book -An accounting book called a petty cash book is used to track tiny, low-value cash…

Q: Using the following information, prepare the journal entries to: a. Establish a $200 petty cash…

A: a.

Q: Ovy Inc. established a $175 petty cash fund on August 15, 2012. On August 31, 2012, the fund…

A: Petty cash is the statement prepared in order to keep a record of miscellaneous expenditures…

Q: Knowledge Check Seal Mate established a $100 petty cash fund on June 1. On June 30, the fund had $17…

A: Petty cash is money kept for small and incidental expenses. Petty cash is current account and…

Q: Willard Company established a $440 petty cash fund on September 9, 2020, On September 30, the fund…

A: A record is usually preserved in the general ledger, but it can alternatively be placed into a…

Q: On September 1, French company has decided to initiate a petty cash fund in the amount of $800.…

A: Petty cash fund is created by the business in which little amount of cash is placed so as to meet…

Q: On September 1, French company has decided to initiate a petty cash fund in the amount of  $800.…

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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: Palmona Company establishes a $180 petty cash fund on January 1. On January 8, the fund shows $85 in…

A: Petty cash is a small amount of cash that is kept on hand and used for these types of expenditures…

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.