ollowing items should be classified as either Cash or Another account. Currency and coins, 10,000 Checks on Hand from Customers, 60,000 Petty Cash Fund, 6,000 Certificates of Deposit, 75,000 Postage Stamps, 750 Postdated Checks, 1,500 Cebu Bank Current Account Balance, 320,000 Money Orders, 2,000 Cash in Savings Account, 200,000 Cashier’s Check, 15,000 DAIF Check, 1,000 Bank Draft, 5,000 Advances to Employees, 1,500 Unreleased Checks, 6,000 DAUD Check, 3,000

Q: The balance of the general ledger cash accounts as of December 31, 20P1 is P7,120. On the other…

A: Solution: Bank reconciliation as of Dec 31, for JECAF bank account is as under:

Q: Journalize the entries to record the following: Apr. 1 Established a petty cash fund of $350. 10…

A: Journal: Recording of a business transactions in a chronological order.

Q: (a) The bank statement balance is $4,690. (b) The cash account balance is $5,080. (c) Outstanding…

A: Introduction: Bank reconciliation statement: To reconcile the difference between bank and cash book…

Q: Using the following information, prepare a bank reconciliation.   Bank balance: $4,021 Book…

A: Bank reconciliation is an essential statement prepared by management at the end of each month to…

Q: The journal entry to record the issuance of the initial check to establish a petty cash fund of $750…

A: Petty cash: Petty cash fund is eastiblished to pay small amount expenses. Office supplies, postage…

Q: Using the following information: The bank statement balance is $4,074. The cash account balance is…

A: A bank reconciliation statement is a statement prepared to match the balance of the bank book and…

Q: The petty cash fund at Brookshire Company has a designated balance of $250. The fund currently holds…

A: Petty cash funds are the funds which are created for small day to day expenses. The main cashier…

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: At year-end, Mariz Company reported cash and cash equivalent comprising: cash on hand P 500,000,…

A: Cash : Cash is a legal tender that are used as an exchange for goods , debt or service. Sometimes…

Q: 1. A petty cash fund of $75 was established on April 1, Year 1. 2. Employees were reimbursed when…

A: Petty cash fund is established for the petty business expenses.

Q: A company needs to replenish its $500 petty cash fund. Its petty cashbox has $75 cash and petty cash…

A: Petty cash fund is maintained when the number of small cash expenses are in huge number for an…

Q: 1. Brooks Agency set up a petty cash fund for $260. At the end of the current period, the fund…

A: The petty cash fund is used for different small expenses and is replenished every month. it helps to…

Q: Prepare the bank reconciliation

A: BRANCH COMPANYBank ReconciliationJuly 31Bank statement balance $26,696Add:Deposits in transit…

Q: The May 31 balance per bank statement was $18,000. The cash balance per books was $22,250.…

A: The bank reconciliation statement is prepared to equate the balances of the cash book and passbook…

Q: Using the following information: a. The bank statement balance is $4,340. b. The cash account…

A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…

Q: A company established a petty cash fund for minor day-to-day expenses. Following are activities…

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

Q: INFORMATION FOR BANK RECONCILIATION Print a copy of the cash account (101). Use the printed copy of…

A: The financial transactions related to cash and bank are recorded by the businesses in the cash book.…

Q: Journalize the entries to record the following: Required: a. On March 1, check is issued to…

A: Petty cash funds are those funds which are maintained for small petty expenses of the business.…

Q: Which of the following is considered cash? a. Thirty-day certificate of deposits b. Customer’s…

A: Cash is very important current asset for the business, which is shown in balance sheet of the…

Q: What is the adjusted amount of cash on hand? What is the adjusted balance of the BPI current…

A: Given is the information about all the data about trial balance and other points:

Q: ournalize the entries to record the following: Required: a. On March 1, check is issued to establish…

A: Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…

Q: Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance:…

A: Outstanding checks=$108+$334=$442

Q: The following information is about the cash balances for Mooner Sooner Inc.: Company balance: $5,020…

A: The bank reconciliation statement is prepared to balance the passbook and company book accounts with…

Q: On December 31, 2018, Argentina Companyhas rhe following information concerning cash and cash…

A:

Q: Using the following information: a. The bank statement balance is $2,622. b. The cash account…

A: Bank reconciliation statement is prepared by the management at a particular time period. It helps to…

Q: The Crown Company established a $1,000 petty cash fund by issuing a cheque to the custodian on…

A: >Petty Cash fund is created out of cash account to pay off certain small and petty amounts of…

Q: What is the adjusted balance of the petty cash fund? What is the correct amount of cash and cash…

A: Petty cash fund is maintained for small petty expenses in the business. Cash and cash equivalent are…

Q: (a) The bank statement balance is $4,690. (b) The cash account balance is $5,080. (c) Outstanding…

A: Introduction: Bank reconciliation statement: To reconcile the differences between Cash book and pass…

Q: e following information, determine the adjusted bank balance. Bank balance: $6,925 Deposits in…

A: Solution: Adjusted bank balance is the balance of bank after adjusting for cash transaction which…

Q: Petty Cash Fund Prepare journal entries for each of the following: a. Issued a check to establish a…

A: Cash account is to be credited for establishment of petty cash fund Amount  that cash account is to…

Q: Zebu Inc manager was working on a bank reconciliation statement whereas he identified the following…

A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…

Q: Using the following information: The bank statement balance is $5,289. The cash account balance is…

A: Bank reconciliation statement is prepared by almost every organization at a particular time. It is a…

Q: Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of…

A: Petty cash: Petty cash fund is established to manage the payment for small business expenditures…

Q: Check No. 12-375 is issued to establish a petty cash fund of $600. The amount of cash in the petty…

A: The objective of the question is to journalize the entries for establishing and replenishing a petty…

Q: A $250 petty cash fund has cash of $15 and receipts of $230. The journal entry to replenish the…

A: Particulars  Debit (in $) Credit (in $) Expenses  Cash short and over [250 - (230+15)]…

Q: Littlestown Corporation reports the following information: Balance in National Bank checking account…

A: Current assets are assets that are projected to be converted into cash within a year. Accounts…

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.