On April 1, 2021, VKS 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: 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: On July 1, 2014, Acting Company established an imprest (petty Cash) fund in the amount of $800.00 in…

A: Imprest (Petty Cash) System is an accounting system that is created for tracking and documenting how…

Q: PA1. On September 1, French company has decided to initiate a petty cash fund in the amount of $800.…

A: Petty cash is a fixed amount set aside to meet day to day expense of small values. Petty cash fund…

Q: How much should be reported as cash and cash equivalents as of December 31, 2022?

A: Cash and Cash Equivalent It is important for the business entity to maintain the cash and cash…

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: 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: 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: 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: 5. Given the following items, what amount should be reported on the balance sheet as Cash and cash…

A: Cash equivalents are short-term, highly liquid investments that can be easily converted into cash…

Q: On June 1, Cool Salad Dressings creates a petty cash fund with an imprest balance of $350. During…

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

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

A: The answer has been mentioned below.

Q: PT Angkasa which is located at Jalan Angkasa Pura No.234 Jakarta, on May 1, 2019 established a petty…

A: Petty Cash refers to cash that is required for day-to-day expenses.

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: The petty cash fund of Western Glass Company contained the following items on November 30, 2024…

A: To establish the petty cash fund, the Petty cash account should be debited by $280 and the cash…

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: 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: The cash account in Crisostomo Company's ledger on December 31, 2023 showed a balance of P500,000…

A: Cash equivalents: All the Assets that can be converted into cash within a short period of time are…

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…

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.