#QEOCINSTRUCTIONS:Record the following transactions:Started a petty cash fund in the amount of $300.DR [Select]and CR [Select].for $300..* Replenished petty cash fund using the following expenses in this order:Auto $69, Office Expenses $77, Postage Expense $56, MiscellaneousExpenses $98. Cash on hand is $6.CR$4RFDRDRVDRDRDR or CR?CR%* Increased petty cash by $100.DR Petty Cash5TG+BAAuto Expense6Office ExpensePostage ExpenseMiscellaneous ExpenseCashCashand CR [Select]MacBook Pro=YHC&7NUJ+ $69# $77# $56+ $98# $6+ $300-* 008M-+ for $100.foK(- o9<O<I)- OLcommand(›)P.:;Ioption{[?+ 11+=Iw}1deletereturn

Petty cash funds are those funds which are maintained for small petty expenses in the business. Imprest system is generally used for accounting of petty cash funds. Petty cash balance = $300Cash on hand = $6Expenses that should be recorded = $300 - $6 = $294Actual expenses = Auto expenses + Office expenses + Postage expenses + Misc expenses= $69 + $77 + $56 + $98= $300Cash excess or short = Actual expenses - Expenses that should be recorded= $300 - $294 = $6Required journal entries are:DateAccount ParticularsDebit ($)Credit ($)Petty Cash 300 Cash(To record establishment of petty cash fund)300Auto Expenses 69Office Expenses77Postage Expenses56Misc Expenses 98 Petty Cash 294 Cash excess or short (To record replenishment of petty cash)6Petty Cash 100 Cash(To record increase in petty cash balance)100

Business

Accounting

Record the following transactions: Started a petty cash fund in the amount of $300. and CR [Select] . + for $300. Replenished petty cash fund using the following expenses in this order: Auto $69, Office Expenses $77, Postage Expense $56, Miscellaneous Expenses $98. Cash on hand is $6. DR ISelect] . CR DR DR DR DR DR or CR? CR : Auto Expense Office Expense Postage Expense Miscellaneous Expense Cash Cash * Increased petty cash by $100. DR Petty Cash and CR [Select] ÷ $77 : ÷ $69 : $56 $98 $6 $300 for for $100.

Record the following transactions: Started a petty cash fund in the amount of $300. and CR [Select] . + for $300. Replenished petty cash fund using the following expenses in this order: Auto $69, Office Expenses $77, Postage Expense $56, Miscellaneous Expenses $98. Cash on hand is $6. DR ISelect] . CR DR DR DR DR DR or CR? CR : Auto Expense Office Expense Postage Expense Miscellaneous Expense Cash Cash * Increased petty cash by $100. DR Petty Cash and CR [Select] ÷ $77 : ÷ $69 : $56 $98 $6 $300 for for $100.

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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Post the differences between the cash count and the cash register tape to the Cash Short and Over T account. Assume a change fund of $100. Date Cash Register Tape Cash Count March 3 $1,495.89 $1,601.89 4 1,878.55 1,986.55 5 741.76 843.76 6 1,646.62 1,744.62 7 1,714.13 1,814.13 When required, enter amounts in dollars and cents.
A. Started a petty cash fund in the amount of $550.B. Replenished petty cash fund using the following expenses: Auto Expense $22, Office Expense $45, Postage Expense $24, Miscellaneous Expense $33. Cash on hand is $426.C. The company has decided to reduce the petty cash fund to $350. Record these transactions. If an amount box does not require an entry, leave it blank. A. - Select - - Select - - Select - - Select - B. - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - C. - Select - - Select -
A. Started a petty cash fund in the amount of $250.B. Replenished petty cash fund using the following expenses: Auto Expense $72, Office Expense $82, Postage Expense $90, Miscellaneous Expense $6. Cash on hand is $10.C. Increased petty cash by $100. Record these transactions. If an amount box does not require an entry, leave it blank. A. Petty Cash Petty Cash Cash Cash B. Auto Expense Auto Expense Office Expense Office Expense Postage Expense Postage Expense Miscellaneous Expense Miscellaneous Expense Cash Over and Short Cash Over and Short Cash Cash C. Petty Cash Petty Cash Cash Cash
Record the following transactions: Started a petty cash fund in the amount of $300. Replenished petty cash fund using the following expenses: Auto $18, Office Expenses $35, Postage Expense $56, Miscellaneous Expenses $67. Cash on hand is $124. Increased petty cash by $50.
I need help with A, B and C please
A $210 petty cash fund has cash of $40 and receipts of $167. The journal entry to replenish the account would include a credit to a.Cash for $170. b.Cash for $40. c.Cash Short and Over for $3. d.Petty Cash for $207.
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.
Record the following transactions: Started a petty cash fund in the amount of $1,000. Replenished petty cash fund using the following expenses: Auto $61, Office Expenses $23, Postage Expense $57, Miscellaneous Expenses $30. The company has decided to reduce the petty cash fund to $600.
Please help solve it
PA1. LO 8.5 On September 1, French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries for the following transactions: A. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense S168, Miscellaneous Expense $149. The cash on hand at this time was $48. B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense S18, Supplies $175, Postage Expense S50, Repairs and Maintenance Expense S269, Miscellaneous Expense $59. The cash on hand at this time was $210. C. On September 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense S251, Supplies $88, Postage Expense S63, Repairs and Maintenance Expense S182, Miscellaneous Expense $203. The cash on hand at this time was S20. D. On September 29, the company determined that the petty cash fund…
A petty cash fund was established with a $500 balance. It currently has cash of $35 and petty cash tickets as shown below: Travel expense $105 Office supplies expense 315 Equipment rental expense 45 Which of the following would be the journal entry to replenish the Petty Cash account? A. debit Cash $35; credit various expenses $35 B. debit various expenses $465; credit Petty Cash $465 C. debit various expenses $465; credit Cash $465 D. credit Petty Cash $465; debit Cash $465
What is the journal entry to replenish the petty cash fund if expenses were Auto Expenses $75, Office Expenses $25, Postage $11. and cash on hand is $389. The Petty Cash fund started with $500. Edit View Insert Format Tools Table |BIUAv eu Ti v|: 12pt v Paragraph v hp 16 fa 19 ho 144 IOI 4 00