The following data relates to ABC Corp's petty cash fund at Dec 31, 20X1: Bills and coins P 1,456 PCF vouchers P1,710 Personal check issued by petty cashier payable to ABC Corp, P 700 General ledger showed that the petty cash fund account has a balance of P4,000. The entry at Dec 31, 20X1 related to the petty cash fund would include: Dr Expenses 1,710 Dr Cash in bank 1,710 Cr Cash in bank 1,844 Cr Cash overage/shortage 834

Q: Journalize the necessary entries for each of the following: a. Issued a check to establish a petty…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Using the following information: The bank statement balance is $3,744. The cash account balance is…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: Using the following information: The bank statement balance is $5,002. The cash account balance is…

A: Bank reconciliation statement is a statement in which reconciliation between the balance stated in…

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: Can I please get help with this question? 7.7 The following information is available to reconcile…

A: The journal entries are prepared to record the transactions on regular basis. The transactions for…

Q: Using the following information: The bank statement balance is $4,074. The cash account balance is…

A: A bank reconciliation statement is a statement prepared to match the balance of the bank book and…

Q: The petty cash fund at Brookshire Company has a designated balance of $250. The fund currently holds…

A: Petty cash funds are the funds which are created for small day to day expenses. The main cashier…

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: a.  Journalize the entry to establish the petty cash fund. If an amount box does not require an…

A: Petty cash book:- Petty Cash book is the book that records all the day to day petty cash (small and…

Q: Using the following information: a. The bank statement balance is $3,349. b. The cash account…

A: Bank Reconciliation Statement for Miller Co. as of August 31st: Bank Statement Balance: $3,349Add:…

Q: Oriole Boxes uses a petty cash imprest system. The fund was established on February 14 with a…

A: Journal entry is the primary reporting of the business transactions in the books of accounts. These…

Q: Petty Cash Fund Prepare journal entries for each of the following. For a compound transaction, if an…

A: a. Record entry to issue petty cash fund as shown below:

Q: Using the following information: a. The bank statement balance is $4,340. b. The cash account…

A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…

Q: A $150 petty cash fund has cash of $54 and receipts of $83.  The journal entry to replenish the…

A: Cash Short (Over) = Petty cash fund - cash - receipts = $150 - 54 - 83 = $13

Q: Journalize the entries to record the following: Check is issued to establish a petty cash fund of…

A: Working Notes: calculation of short cash = Petty cash Fund - Closing Balance of Petty cash -…

Q: On October 1, 20--, a check was written in the amount of $300 to establish a petty cash fund. During…

A: Part a ) Journal Entry to establish a petty cash fund Date Account Debit Credit Jan-01 Petty…

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: The petty cash fund of ABC Corp consisted of the following: Currency and coins, P2,000 Employees…

A: Petty cash is a small amount of cash on hand that is used for paying small amounts owed, rather than…

Q: The following were the transactions involving an entity's petty cash fund during the period. July 1,…

A: Petty cash fund is that fund which is established for small petty expenses in business. Imprest…

Q: Ernest Company uses an imprest petty cash system. The fund was established on March 1 with a balance…

A: Solution: Petty cash fund is established to provide business with sufficient to cash to meet minor…

Q: A petty cash fund was established with a $200 balance. It currently has cash of $40 and petty cash…

A: Lets understand the basics.Entity creates petty cash by moving some few amount of money into petty…

Q: s established at $100. After the first month, the cash in the petty cash box amounted to $21. The…

A: A Petty cash fund is established to take care of the daily small expenses of a firm. This is…

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: Murdstone, Inc. issued a check on January 2 to establish a petty cash fund of $500. On January 31,…

A: Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…

Q: XYZ Company established a $500 petty cash fund on July 1. On July 30, the fund had $120 cash…

A: The asset account is debited when there is an increase and credited with there is a decrease.

Q: Journalize the entry to replenish the petty cash fund. If an amount box does not require an entry,…

A: Step 1 Journal is the part of the book keeping.

Q: Brown Company's bank statement for September 30 showed: Bank statement balance. $4,210 Book balance…

A: Sometimes due to certain reasons the balance as per the passbook doesn't matches with the balances…

Q: Required information Problem 6-24A (Static) Petty cash fund LO 6-4 [The following information…

A: Keeping up with accounting standards and internal control needs is facilitated by keeping a petty…

Q: The following are items found in the records of ABC Corp at Dec 31, 20X1:     Cash in BPI , P102,000…

A: Cash and cash equivalents means cash or assets that can be converted into cash immediately. Cash…

Q: During October, Daylight Company experiences the following transactions in establishing a petty cash…

A: Various small expenses are incurred for day to day activities of the entity can be managed…

Q: petty cash fund. Di

A: 1.Establish petty cash fund 2.Record petty cash expenses 3.Replenish petty cash fund

Q: A petty cash fund, established with a $300 balance, had petty cash receipts (tickets/vouchers)…

A: Petty cash is used for a variety of little costs; receipts are gathered and transactions are…

Q: If a petty cash fund is established in the amount of $348 and contains $200 in cash and $134 in…

A: JOURNAL ENTRY FOR REPLENISHMENT :  PARTICULARS DEBIT CREDIT SUNDRY EXPENSE $134   CASH…

Q: Petty Cash Fund Entries Journalize the entries to record the following: Check is issued to…

A: Answer a:

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: How much is the cash overage (shortage)?

A: Petty cash refers to the amount of cash kept by the company in small quantity to make the payment of…

Q: 134

A: Petty cash refers to the small value of the cash in hand, paid or payable for minor expenses like…

Q: Prepare journal entries for each of the following: Question Content Area a.  Issued a check to…

A: When a petty cash fund is established, a check is issued to transfer the necessary funds from the…

Q: 1. Brooks Agency set up a petty cash fund for $140. At the end of the current period, the fund…

A: Answer:- Petty cash is a small amount of cash that is kept on hand by a business or organization to…

Q: Using the following information:  The bank statement balance is $3,093. The cash account balance is…

A: Bank reconciliation statement record book which reconcile  the balance as per bank books with cash…

Q: A $115 petty cash fund has cash of $22 and receipts of $83. The journal entry to replenish the…

A: Petty cash is the cash account managed to incur minor expenses related to business operations. The…

Q: Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of…

A: Petty cash: Petty cash fund is established to manage the payment for small business expenditures…

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…

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.