The custodian of a $540 petty cash fund discovers that the fund has $92.50 in coins and currency plus $436.50 In receipts at the end of the month.The entry to replenish the petty cash fund will include:Multiple ChoiceA debit to Cash for $426.A debit to Cash Over and Short for $11.00.A credit to Cash Over and Short for $448.OA debit to Petty Cash for $436.50.0.A credit to Cash for $436.50.

Determining the Correct Journal Entry for the NSF CheckScenario:• A customer's check for $436.50 is…

Answered: The custodian of a $540 petty cash fund…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 1PB: On June 1 French company has decided to initiate a petty cash fund in the amount of $800. Prepare...

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On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: A. On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $80. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment as it was month-end. The following are the receipts: Auto Expense $114, Supplies $75, Postage Expense $50, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.
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 $168, 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 $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, 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 $251, Supplies $88, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $20. D. On September 29, the company determined that the petty cash fund needed to be increased to $1,000. E. On September 30, the petty cash fund needed replenishment as it was month end. The following are the receipts: Auto Expense $18, Supplies $15, Postage Expense $57, Repairs and Maintenance Expense $49, Miscellaneous Expense $29. The cash on hand at this time was $837.
On July 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: A. On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $110. C. On June 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment, as it was month end. The following are the receipts: Auto Expense $14, Supplies $75, Postage Expense $150, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.
Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200. In the cash disbursements journal, the Accounts Payable column has total debits of $6,800 for November. The Accounts Payable credit column in the purchases journal reveals a total of $10,500 for the current month. Based on this information, what is the ending balance in the Accounts Payable account in the general ledger?
The custodian of a $450 petty cash fund discovers that the fund has $55.90 in coins and currency plus $389.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice O A credit to Cash for $39410 A debit to Cash for $39410 A credit to Cash Over and Short for $460 A deba to Cash for $384.90 A debt to Potty Cash for $389 50.
The custodian of a $450 petty cash fund discovers that the fund has $54.30 In coins and currency plus $391.50 In receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice A credit to Cash Over and Short for $4.20. O A debit to Cash for $395.70. О A debit to Cash for $387.30. O A debit to Petty Cash for $391.50. O. A credit to Cash for $395.70.
Assume that the custodian of a $465 petty cash fund has $67.50 in coins and currency plus $391.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice A debit to Cash for $386. A debit to Cash Over and Short for $6.00. A debit to Petty Cash for $391.50. A credit to Cash for $391.50. A credit to Cash Over and Short for $398.
The custodian of a $600 petty cash fund discovers that the fund has $ 112.50 in coins and currency plus $ 472.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include:
Help Save & EXit Assume that the custodian of a $450 petty cash fund has $59.50 in coins and currency plus $385.00 in receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice A debit to Petty Cash for $385.00. A debit to Cash for $390.50. A credit to Cash for $390.50. here to search 5:03 PA 96% 3/7/202
Assume that the custodian of a $450 petty cash fund has $57.10 in coins and curency plus $387.00 in recipts at the end of the month. The entry to replenish the petty cash fund will include:?
Spencer Co. has a $430 petty cash fund. At the end of the first month the accumulated receipts represent $66 for delivery expenses, $219 for merchandise inventory, and $35 for miscellaneous expenses. The fund has a balance of $110. The journal entry to record the reimbursement of the account includes a: Multiple Choice Credit to Cash for $320. Credit to Cash Over and Short for $110. Debit to Cash Over and Short for $110. Credit to Inventory for $219. Debit to Petty Cash for $430.
The petty cash fund for Sunflower Co. was established at $100. After the first month, the cash in the petty cash box amounted to $21. The receipts in the petty cash box included a receipt from Office Depot for $32, a receipt from a grocery store for $26, and a postage COD receipt for $16. Which of the following would be included in the journal entry to replenish the petty cash fund Credit to Supplies Expense; $32 Credit to Cash; $74 Debit to Cash Short (Over); $5 Credit to Cash Short (Over); $5

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