On April 1, 2021, Adobo Co. established a petty cash fund for P80,000 by writing a check drawn against general checking account.  On April 30, the funds contained the following: Currency and coins- P24,000 Receipts for office supplies- P32,000 Receipts for postage still unused- P16,000    Receipts for transportation- P4,800 On April 30, the company write a check to replenish the fund. What is the amount of replenishment under the imprest fund system?

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A:

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A: Petty cash fund is a fund maintained by the cashier in an organization to pay the regular…

Q: How much is the total shortage/overage, if there are any? No need to distinguish between shortage or…

A: A petty cash fund is a small quantity of bills and coins kept on the premises by an organization to…

Q: Suga Corp. had a checkbook balance on December 31, 2021 of P10,000,000 and held the following items…

A: Check Book balance as on Dec 31,2021 10000000 Less: Check oayable to Duga on Jan 04,2021 (3000000)…

Q: Kingery Ltd. maintains a balance of $3,000 in its petty cash fund for routine purchases such as…

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

Q: On July 1, 2024, Cromartie Furniture established a $150 petty cash fund. A check for $150 was made…

A: A debit to petty cash and a credit to cash for $150 General JournalDebitCreditPetty cash$150 Cash…

Q: On June 1, Meadow Salad Dressings creates a petty cash fund with an imprest balance of $500. During…

A: The imprest fund system helps streamline small cash transactions and reduces the need for frequent…

Q: What is the amount of petty cash shortage?

A: Since you have asked two questions under a single question but as per our protocol we provide…

Q: Al-Yahya Enterprise has established a petty cash fund for its small expenditures. The following…

A: The journal entries are prepared to keep the record of day to day transactions of the business. The…

Q: On 1 September 2018, Desa Utara established a petty cash fund of RM900. At the end of the month the…

A: The petty cash fund is created for day to day cash transactions of the business.

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: The petty cash fund of $260 for Marin Beauty Supply Company appeared as follows on December 31,…

A: A modest sum of money set away by a company or association for  bitsy, ongoing costs that come up…

Q: 1) Blake's Shotgun Manufacturing Company guarantees that their guns will cause the ducks to "quack…

A: To meet daily expenses, a small amount is set aside from cash/bank to be used by petty cashier. It…

Q: VKS Company reported an imprest petty cash fund of P51,100 with the following details ·…

A: The items that should be included are: - Currencies - Coins - Petty cash vouchers (these will be…

Q: together with a contribution for a birthday pa and attached to the sheet of paper is a curren hat…

A: Petty cash is a small amount of fund used for day to day expenses. It is not sensible to make any…

Q: establish a petty following information pertains to the fund. 1) On April 1, 2021, a petty cash fund…

A: The petty cash fund is established to maintain the cash balance for day to day transactions of the…

Q: A small company maintains a petty cash fund for minor expenditures. In June and July 2014, the…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: ·       Check payable to Taemin Inc., dated January 4, 2020, included in the December 31 checkbook…

A: The answer has been mentioned below.

Q: What is the correct petty cash fund balance to be reported as of December 31, 2018?

A: Petty cash is a small amount of company cash kept on hand (e.g., in a locked drawer or box) to cover…

Q: On September 1, 2020, Walls Company establishes a petty cash fund by issuing a check for $100 to…

A: Note: Since you have asked multiple question, we will solve the first question for you. If you want…

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

A: Petty Cash book is a small cash book that many companies maintain to record small day-to-day…

Q: Murdstone, Inc. issued a check on January 2 to establish a petty cash fund of $500. On January 31,…

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

Q: The Petty Cash Fund of Joy Manufacturing at the end of the fiscal year ended December 31, 2016 is…

A: Correct balance of petty cash = Currencies + Coins

Q: On December 31,2021, the cash equivalent of SPIDEY Company show the following composition: -Petty…

A: These are the most liquid assets of a company's balance sheet. These include the actual cash on hand…

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

A:

Q: CPA Company reported the following information on December 31, 2021: Cash on hand Petty cash fund…

A: The money or an amount kept in hand by the businesses for small cash payments for purchases of petty…

Q: VKS Company established a petty cash fund of P10,000 on July 1, 2021.  At the end of the month, the…

A: Solution: Total petty cash receipts = 741.90 + 880 + 900 + 1421.40  + 837.60 = 4.780.90

Q: On April 1, 2021, CPA Co. established a petty cash fund for P80,000 by writing a check drawn against…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: ABC Co established a petty cash fund of P40,000. Fund disbursements during the period was P27,363.…

A: At the end of the period, petty cash fund should stand at P40,000.

Q: You are placed in charge of a $200 petty cash fund. On December 31, 20-2, at the end of the fiscal…

A: A petty cash fund is a small amount of cash kept on hand by a business or organization to cover…

Q: The following are data of Taehyung Inc.:  The petty cash fund was established on May 2, 2019, in…

A: The journal entry to record the replenishment of and increase in petty cash fund is as under:…

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: Petty Cash Fund Entries Journalize the entries to record the following: Check is issued to…

A: Answer a:

Q: The BOD of Nancy Inc. authorized the set-up of petty cash fund on December 1, 2020, with an Imprest…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

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: Awy Company has a petty cash fund for small expenses. The following transactions occurred over a…

A: Petty cash is a nominal amount that is readily accessible for paying expenses too small by writing a…

Q: Blue Spruce Corp. established a petty cash fund early in 2023 to increase the efficiency of…

A: The company decided to set up the imprest fund at $490, and a cheque was issued for this amount and…

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: 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…

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.