Present entries to record the following transactions:                 (a) Established a petty cash fund of $235.                 (b) The petty cash fund now has a balance of $42.80.  Replenished the fund, based on the following                       disbursements as indicated by a summary of the petty cash receipts:  office supplies expense,                       $74.50; miscellaneous administrative expenses, $92.75; and miscellaneous selling expense, $18.60.                 (c) Increased the petty cash fund to $300.

Q: BE8-5 On March 20, Pugh's petty cash fund of $100 is replenished when the fund contains $11 in cash…

A: The journal makes sure that all entries are logged, regardless of the size of the entity. The…

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: June 1. Established a petty cash fund of $9.30. 12. The cash sales for the day, according to the…

A: Journal entries: Date General Journal Debit Credit June 1 Petty Cash $930     Cash…

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: 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: 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: On June 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,400. A. On…

A: Petty cash spent in a.=$1,400-$234=$1,166

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: Cedar Springs Company completed the following selected transactions during June: June 1.…

A: Date General Journal       Debit Credit                     1-Jun Petty cash       1,310…

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: 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: 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: 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: On June 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,300. A. On…

A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…

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: yoming Restoration Company completed the following selected transactions during July 20Y1: July 1.…

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

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: Pharoah Ltd. designated Alexa Kidd as petty cash custodian and established a petty cash fund of…

A: The petty cash fund is the current asset of the business. It is established to maintain the smaller…

Q: Check No. 12-375 is issued to establish a petty cash fund of $900. The amount of cash in the petty…

A: Petty cash fund is said to be small bills or amounts that organisations maintain to pay off the…

Q: On April 2, Granger Sales decides to establish a $280 petty cash fund to relieve the burden on…

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

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

A: Petty cash fund is created by the business in which little amount of cash is placed so as to meet…

Q: Jone Company established a petty cash fund. 1. Established a petty cash fund of $10000 on August 2.…

A: JOURNAL ENTRIES AS PER PETTY CASH FUND SYSTEMS WHICH ARE  FLUCTUATING FUND SYSTEM AND IMPREST FUND…

Q: ABC company paid cash to replenish the petty cash fund: $145; $72 for supplies; $40 for advertising…

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

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

A: Journal entry is a process of recording and classifying business transactions into books of accounts…

Q: Petty Cash PolekMart established a $1,050 petty cash fund on May 2. On May 30, the fund shows $326…

A: Petty cash fund is a small amount of cash that a business keeps aside to pay for minor, everyday…

Q: record entry for petty cash found.

A: Petty cash is the cash allocated to meet the expenses related to running of affairs of the entity on…

Q: On September 1, French company has decided to initiate a petty cash fund in the amount of $850. A.…

A: Petty cash funds are those funds which are established and maintained for small petty expenses in…

Q: Started a petty cash fund in the amount of $1,000. b. Replenished petty cash fund using the…

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

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.