QUESTION 9Assume thst the Polty Casdwor of a $400 potty cash fund has $40 in canh phs So0 in recopts at the end of then monh The entry to replereh mburse) the petty cns fund wiwudeO A dobt to Cash for $00O A crede to Cash for S00O Ac to Cash for S40O Adebit lo Cash kor $340

Debit what comes in, Credit what goes out. Debit the receiver, Credit the giver. Debit all expenses…

QUESTION 9 Assume that the Potty Casdwor of a $400 potty cash fund has $340 in cah pn So0 recepts at the end of the monh The entry to replereh embuse) the petty cnh fund wi kude O Adott to Cah for So0 O Aadt to Cansh for S00 O Acedt to Cash for 40 A debit to Cash for $340

QUESTION 9 Assume that the Potty Casdwor of a $400 potty cash fund has $340 in cah pn So0 recepts at the end of the monh The entry to replereh embuse) the petty cnh fund wi kude O Adott to Cah for So0 O Aadt to Cansh for S00 O Acedt to Cash for 40 A debit to Cash for $340

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question 14 On April 2, Granger Sales decides to establish a $125.00 petty cash fund to relieve the burden on Accounting. (a) Journalize the establishment of the fund. (b) On April 10, the petty cash fund has receipts for mail and postage of $43.50, contributions and donations of $29.50, meals and entertainment of $38.25, and $13.55 in cash. Journalize the replenishment of the fund. (c) On April 11, Granger Sales decides to increase petty cash to $200.00. Journalize this event. Edit Yiew Incort
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C Record the following transactions. Mar 5 Established a Petty Cash Fund amounting to P4,000 Mar 6-25 Paid for the following Mar Food for the visitors Flowers for Gen Manager Parking Fees and Toll gate fees IOU of employee Office supplies 26 Replenished Petty Cash P Cash on hand totalled P150.00 27 Increased PCF by P2,250 Mar Mar 28-31 Paid for the following Maynilad Office supplies 1,199.00 750.00 201.50 1,000.00 723.00 850.00 425.00 April 1-22 Paid for the following Office supplies Repair of equipment IOU of employee April 2,122.00 1,250.00 1,500.00 23 Replenished petty cash fund Cash on hand totalled P100.00
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A, B and C please
EB3. LO 8.5Record the following transactions: Started a petty cash fund in the amount of $340. Replenished petty cash fund using the following expenses: Auto $69, Office Expenses $77, Postage Expense $56, Miscellaneous Expenses $98. Cash on hand is $45. Increased petty cash by $65. Prepare the correcting journal entry.
On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the amount remaining in the fund was RO 80. It had the following data: Postage Expense RO 150 Freight-In 340 Entertainment of clients 228 Supplies Expense 160 The journal entry to replenish the account would indude: Select one: O a None of the answers are correct. O b. debit to Petty Cash for RO 750. O c debit to Cash Over and Short for RO 8. O d. credit to Cash for RO 52. O e. credit to Cash Over and Short for RO 8.
On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the amount remaining in the fund was RO 80. It had the following data Postage Expense RO 150 Freight-In 340 Entertainment of clients 228 Supplies Expense 160 The journal entry to establish the petty cash fund would include a: Select one: O a debit to Cash for RO 750. O b.credit to Cash Over and Short for RO 48. O c None of the answers are correct O d. credit to Cash for RO 700. O e. credit to Cash for RO 52.
I need help with A, B and C please
H6. 31 P XYZ Co. decided to create a petty cash fund. They estimated that $100 would be needed in the fund. Choc entry to create the account from the following. O Petty Cash is debited for $100. O Cash is debited for $100. O Petty Cash is credited for $100. O Miscellaneous Expense is debited for $100.
Imprest Fund System Currency P1,650Petty cash vouchers:Postage 420Office supplies expense 900Transportation expense 340Computer repairs 800Advances to office staff 1,500A check drawn by Samantha, Inc., payable to thepetty cash custodian 7,200Postage stamps 300An employee’s check, returned by bank, marked NSF 1,000An envelope containing the currency of for a gift for a retiring employee 1,890 TOTAL P16,000 Show the adjusting entries at the end of the period.
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