Prepare journal entries for each of the following:a. Issued a check to establish a petty cash fund of $1,000.b. The amount of cash in the petty cash fund is $315. Issued a check to replenish the fund, based on the following summary of petty cash receipts: repair expense, $600, and miscellaneous selling expense, $56. Record any missing funds in the cash short and over account.

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

A:

Q: While examining cash receipts information, the accounting department determined the following…

A: Journal entries are used to record transaction in chronological order under double entry accounting…

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: 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: March Transactions: Mar. 1 Established a petty cash fund of $856.   31 The amount of cash in the…

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

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

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

Q: a $200 petty cash fund has cash for $10 and receipts of $220. The journal entry to replenish the…

A: Despite the fact that it does not reflect the current balance, the petty cash fund account does not…

Q: On July 1 AAA Company established a petty cash fund with $20o. During the first 15 days of July…

A: Solution: (1). Date Particulars Debit Credit July 1  Petty Cash 200           Cash   200

Q: 7. On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200.…

A: The company maintains availability of small amount to pay daily expenses in the form of petty cash.

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: 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: 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: A $180 petty cash fund has cash of $20 and receipts of $146. Which of the following would be part of…

A: Cash Need to Replenish to Petty Cash Fund = Amount of Fund to Be - Cash Receipts - Amount of Cash…

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: 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: 1. Brooks Agency set up a petty cash fund for $140. At the end of the current period, the fund…

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

Q: A $150 petty cash fund has cash of $25 and receipts of $119. The journal entry to replenish the…

A: A Journal entry is a primary entry that records the financial transactions initially. The…

Q: Journalize the entries to record the following: Check is issued to establish a petty cash fund of…

A: Working Notes: calculation of short cash = Petty cash Fund - Closing Balance of Petty cash -…

Q: On October 1, 20--, a check was written in the amount of $300 to establish a petty cash fund. During…

A: Part a ) Journal Entry to establish a petty cash fund Date Account Debit Credit Jan-01 Petty…

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: 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: On March 20, Vaughn's petty cash fund of $108 is replenished when the fund contains $15 in cash and…

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

Q: pare Journal Entry to establish Petty Cash Fund

A: Meaning of Petty Cash book: It is the subsidiary book of main cash book where all the small day to…

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: the petty cash fund was replenished when there was $81 remaining and there were petty cash receipts…

A: The journal entries are prepared to record the transactions on regular basis. The petty cash fund is…

Q: A petty cash fund was established with a $200 balance. It currently has cash of $40 and petty cash…

A: Lets understand the basics.Entity creates petty cash by moving some few amount of money into petty…

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

A: A Petty cash fund is established to take care of the daily small expenses of a firm. This is…

Q: A $146 petty cash fund has cash of $23 and receipts of $131. The journal entry to replenish the…

A: Petty cash is a small amount of money, kept for meeting minor expenses, which are too small to be…

Q: Continue using the journal and journalize the following transaction: Mar. 31. Paid cash to replenish…

A: Journal entry means the entry in prime book with chronological order. Journal entry should have…

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: Journalize the entry to replenish the petty cash fund. If an amount box does not require an entry,…

A: Step 1 Journal is the part of the book keeping.

Q: On October 1, 20- a check was written in the amount of $300 to establish a pet Voucher No Account…

A: Petty cash refers to a small amount of cash that is kept on hand by a business or organization to…

Q: During October, Daylight Company experiences the following transactions in establishing a petty cash…

A: Various small expenses are incurred for day to day activities of the entity can be managed…

Q: A. Started a petty cash fund in the amount of $400. B. Replenished petty cash fund using the…

A: Petty cash fund is a fund setup in organisation that is meant for only small or petty expenses.

Q: petty cash fund. Di

A: 1.Establish petty cash fund 2.Record petty cash expenses 3.Replenish petty cash fund

Q: March 1 Established a petty cash fund of $877. March 31 The amount of cash in the petty cash fund is…

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

Q: A petty cash fund, established with a $300 balance, had petty cash receipts (tickets/vouchers)…

A: Petty cash is used for a variety of little costs; receipts are gathered and transactions are…

Q: Journalize the entries to record the following: March 1 Established a petty cash fund of $877.…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: July 1. Established a petty cash fund of $1,100. 12. The cash sales for the day, according to the…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: If a petty cash fund is established in the amount of $348 and contains $200 in cash and $134 in…

A: JOURNAL ENTRY FOR REPLENISHMENT :  PARTICULARS DEBIT CREDIT SUNDRY EXPENSE $134   CASH…

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.