Required: You are required to write-up the petty cashbook.
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Q: You are required to write-up the petty cashbook.
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AMMAH Ventures operates a Petty Cash on the imprest system with a float of GHC600. Reimbursements are made such that cash on hand does not fall below GHC72. Below is a summary of Petty Cash transactions for the period to 31 July, 2017
|
|
GH Cedis |
July 1 |
Received reimbursement by cheque from cashier |
504 |
July 3 |
Paid Wages |
204 |
July 5 |
Paid Rent and Rates |
90 |
July 7 |
Paid Wages and Salaries |
180 |
July 8 |
Paid Electricity |
51 |
July 11 |
Paid for transport |
18 |
July 12 |
Paid for transport |
24 |
July 13 |
Paid Wages |
108 |
July 14 |
Paid Rent and Rates |
33 |
July 15 |
Paid Wages |
132 |
July 17 |
Paid Koo Nimo a creditor |
110 |
July 18 |
Paid for transport |
60 |
July 19 |
Paid Electricity |
15 |
July 20 |
Paid K. Ansah a creditor |
24 |
July 21 |
Paid for transport |
21 |
July 25 |
Paid Rent and Rates |
108 |
July 29 |
Paid Wages and Salaries |
288 |
July 31 |
Paid for transport |
84 |
Required:
You are required to write-up the petty cashbook.
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- ANIMAH Ventures operates a Petty Cash on the imprest system with a float of GHC600. Reimbursements are made such that cash on hand does not fall below GHC72. Below is a summary of Petty Cash transactions for the period to 31 July, 2017.GHCJuly 1 Received reimbursement by cheque from cashier 504July 3 Paid Wages 204July 5 Paid Rent and Rates 90July 7 Paid Wages and Salaries 180July 8 Paid Electricity 51July 11 Paid for transport 18July 12 Paid for transport 24July 13 Paid Wages 108July 14 Paid Rent and Rates 33July 15 Paid Wages 132July 17 Paid Koo Nimo a creditor in full 110July 18 Paid for transport 60July 19 Paid Electricity 15July 20 Paid K. Ansah a creditor 24July 21 Paid for transport 21July 25 Paid Rent and Rates 108July 29 Paid Wages and Salaries 288July 31 Paid for transport 84Required:You are required to write-up the petty cashbook.The following items are found in the cash account of AAA Company at December 31, 2021. The company’s controller asks your opinion whether the items listed below should be considered as part of cash account and come up with an adjusting entry to adjust the cash account.• A check worth P288,000 from customer who paid the account net of the 4% discount. The company records the transaction as credit to Accounts Receivable for the proceeds.• Postage stamps, P1,000;• Cash in closed bank (F Bank), P195,000;• Redemption fund, P300,000;• Sinking fund, P300,000. This will be used on May 1, 2022 to redeem the bonds payable;• Change fund, P25,000;• X Bank Checking Account No. 0004568, P410,000.• Y Checking Account No. 0002347, P275,000.;• Overdraft in Z Checking Account No. 00011256, P150,000 resulting from a withdrawal of a company’s check dated January 3, 2022 in payment of account, P450,000. This was recorded in the company’s disbursement ledger at December 31, 2021;• Overdraft in X Checking…QI AL- Kauther Company deposits all receipts and makes all payments by check. The following information is available from the cash records. 1- The bank statement for August 2014 shows an ending balance of $ 3490. 2- On August 31 the bank statement shows charges of $35 for the service charge for maintaining the checking account. 3- On August 28 the bank statement shows a return item of $ 100 plus a related bank fee of 10$. The return item is a customer's check that was returned because of insufficient funds. The check was also marked "do not redeposit." 4- The bank statement shows a charge of $80 for check printing on August 20. 5- The bank statement shows that $8 was added to the checking account on August 31 for interest earned by the company during the month of August. 6- The bank statement shows that a note receivable of $1,000 was collected by the bank on August 29 and was deposited into the company's account. On the same day, the bank withdrew $40 from the company's account as a…
- On October 1, 2020, Faith Company established an imprest petty cash fund by issuing a check for P2,000 to Joy Youz, the custodian of the petty cash fund. Faith Co. allows expenses of P1,000 and below to be charged to Petty Cash Fund. Any expenditure beyond this amount will require check issuance to the payee. October petty cash transactions were as follows: Date PCV # Transaction Amount 02-Oct 1 Freight paid to MamaMove on merchandise purchase P400.00 05-Oct 2 Cash advance of a co-employee 500.00 07-Oct 3 One week cellphone load of the liaison personnel 100.00 08-Oct 4 Purchase of office supplies 550.00 10-Oct 5 Reimbursement of transportation expenses of the liaison personnel 300.00 12-Oct Petty cash replenishment, Check # 002357 12-Oct Increase in petty cash fund to P3,000.00, Check # 002358 14-Oct 6 One week cellphone load of the liaison personnel 100.00 14-Oct 7 Reimbursement of transportation expenses 300.00 15-Oct 8 Snack treat to the…On October 1, 2020, Faith Company established an imprest petty cash fund by issuing a check for P2,000 to Joy Youz, the custodian of the petty cash fund. Faith Co. allows expenses of P1,000 and below to be charged to Petty Cash Fund. Any expenditure beyond this amount will require check issuance to the payee. October petty cash transactions were as follows: Date PCV # Transaction Amount 02-Oct 1 Freight paid to MamaMove on merchandise purchase P400.00 05-Oct 2 Cash advance of a co-employee 500.00 07-Oct 3 One week cellphone load of the liaison personnel 100.00 08-Oct 4 Purchase of office supplies 550.00 10-Oct 5 Reimbursement of transportation expenses of the liaison personnel 300.00 12-Oct Petty cash replenishment, Check # 002357 12-Oct Increase in petty cash fund to P3,000.00, Check # 002358 14-Oct 6 One week cellphone load of the liaison personnel 100.00 14-Oct 7 Reimbursement of transportation expenses 300.00 15-Oct 8 Snack treat to the…comparison, the following items of differences were found with pass book. On 30th June 2018 the cash book of a trader shows a deposit balance of ? 4,800. Howeve Prepare a statement to ascertain the balance as per pass book. From the following particulars you are required to ascertain the bank balance as would a Interest of 1,425 on overdraft upto 31st July 2019 has been debited in the bank 4. Cheques issued prior to July 31st 2019 but not presented till that date amounte 3lntiest etscovedited in the entried but not 152 3. Accountancy -I (et) Direct payment by a customer to bank 420 ehoplon (b) Interest on deposit credited by bank (c) Insurance premium paid by bank (d) Bank charges in pass book 180 80 80 (Ans: Balance as per pass book . 4. the cash book of K. Bharathan as on July 31st 2019. appe In th 1. ne bank pass book showed an overddraft of E 18.700 on July 31st 2019. 2. ing and accoun book, but it has not been entered in the cash book. one ace follows If we ta balanc of veri by pr…
- The cash receipts and cash payments of Detuya Company for April 2020 follow: CASH RECEIPTS CASH PAYMENTS Cash Debit Check No. Cash Credit P 44,550 7,350 96,500 33,200 73,600 Date Apr. 2 8 P 208,700 20,350 27,950 109,350 92,700 4113 4114 10 4115 16 4116 22 4117 29 53,000 16,850 4118 50,000 31,600 83,750 5,000 120,650 30 4119 4120 4121 4122 Detuya Company received the following bank statement on April 30, 2020: BANK STATEMENT April 2020 P 95,550 Beginning balance Add: Deposits and other credits: Apr. 1 P 16,300 Electronic fund transfer 208,700 20,350 27,950 109,350 68,400 Bank collection 92,700 4 9 12 17 22 23 543,750 Less: Checks and other debits: Apr. 7 13 P 44,550 69,500 45,150 Unauthorized signature 7,350 33,200 10,950 Electronic fund transfer 73,600 50,000 1,000 Service charge 14 15 18 21 26 30 30 335,300 P 304,000 Ending balance6. Keli Trading maintain a petty cash book based on the imprest system since its commencement. At the end of the period, the amount spent will be reimbursed to the petty cashier. Below are the summary of the petty cash transactions provided by Keli Trading for the month of October 2011. RM October 1 Cash float 300 3 Paid postages 50 4 Purchased envelopes 3 5 Paid cleaning 30 7 Paid ticket bus 15 10 Paid petrol 15 13 Bought pen and pencils 5 15 Bought paper clips 10 18 Bought stamps 6 19 Paid petrol 20 22 Paid taxi fares 15 25 Printing paper 29 29 Purchased stamp pad ink 45 30 Paid cleaning 30 Required: Prepare a petty cash book for Keli Trading for the month of October 2011 with analysis columns for expenditure on cleaning, postages, stationery and travelling.Unadjusted petty cash fund is 3,000. How much is the adjusted balance of petty cash fund at the end of the period
- Which of the following states the entries required to account for a reimbursement to the petty cash float of $125 from the bank account? Cr Cash and bank Cr Petty cash A Dr Petty cash В Dr Cash and bank C Dr Drawings Cr Petty cash D Dr Drawings Cr Cash and bankFAR Cash and Cash Equivalent Kindly help me answer the following: 1. Sherwin Company reported the checkbook balance on December 31, 2015 at P8,000,000. In addition, the entity held the following items in the safe on that date: Check payable to Sherwin, dated January 2, 2016 in payment of a sale, not included in December 31 check book balance - 1,000,000; Check payable to Sherwin, deposited December 15 and included in December 31 checkbook balance, but returned by bank on December 30 stamped "NSF". The check was redeposited on January 2, 2016 and cleared on January 5, 2016 - 3,000,000; Check drawn on Sherwin's account, dated and recorded on December 31, 2015 but not mailed. until January 15, 2016 - 2,500,000; Coins and currencies on hand - 800,000; Three-month money market instruments - 1,500,000. What is the correct amount of "cash" on December 31,2015? * a. 9,800,000 b. 9,300,000 c. 7,500,000 d. 8,300,000 2. A proof of cash * a. Is a summary…The cash records and bank statement for the month of July for Eagle Incorporated are shown below. Description DEP Customer deposit INT Interest earned SF Service feesNOTE Note collected CHK Customer check NSF Nonsufficient fundsEFT Electronic funds transfer DC Debit card Additional information: The difference in the beginning balances in the company’s records and the bank statement relates to check number 530, which is outstanding as of June 30, 2024. The debit card transaction for the purchase of equipment on 7/19 is correctly processed by the bank. The EFT on July 26 in the bank statement relates to the purchase of office supplies.