Penny-Wise Pound-Fool Company established a $400 petty cash fund on September 1, 2021. The fund is replenished at the end of each month. At the end of September 2021, the fund contained $74 in cash and each of the following receipts:   Office  Supplies     $142   Advertising                96   Postage                     40   Miscellaneous          38 Required: Prepare the necessary general journal entry to establish the petty cash fund on September 1 and to replenish the fund on September 30.

Q: Selected transactions completed by Kornett Company during its first fiscal year ended Dec. 31, 20Y8,…

A:

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: 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: 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: Cameron Co. established a $160 petty cash fund on January 1, 2023. One week later, on January 8, the…

A: The objective of the question is to prepare the journal entry to establish the petty cash fund on…

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: 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: 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: 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: 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: 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: 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: 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: 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…

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

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: 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: 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: 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: Pelcher Company maintains a $500 petty cash fund. On January 31, the fund is replenished. The…

A: Petty cash fund is the cash kept aside for petty/ small expenses. Petty cash is replenished by…

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: 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…

Q: 9. Enter the following transaction in a Petty Cash Book (attached), with analysis columns: postag…

A: A petty cash book is maintained to record small expenses incurred for running the office. These…

Q: Swifty Company established a petty cash fund on May 1, cashing a check for $125.00. The company…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: On June 1, 2019, Wadi Nam Furniture Company established a petty cash fund for RO 750. On June 31,…

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

Q: On June 1, 2019, Wadi Nam Furniture Company established a petty cash fund for RO 750. On June 31,…

A: Date Account Titles and Explanation Debit Credit June 1, 2019 Petty cash RO 750…

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.