The following transactions took place during the month of February 2021:   Feb    1 Established a RM200 petty cash fund with cash withdrawn from the company’s account.   20 The petty cash fund has RM15 remaining and is replenished. Expenditures during the month were RM60 for freight-in, RM35 (meals), RM20 (postage), RM65 (amenities), and RM10 (parking)         REQUIRED:   Prepare the journal entries for the above transactions.

Q: The cash account of AA Company is composed of Cash on hand, P450,000; Petty cash fund, P10,000 and…

A: The amount of money a business has on hand after all expenses have been met is referred to as cash…

Q: On April 2, Granger Sales decides to establish a $290 petty cash fund to relieve the burden on…

A: Petty cash is a small quantity of money kept on hand to handle minor costs including repayments or…

Q: Selected transactions completed by Kornett Company during its first fiscal year ended Dec. 31, 20Y8,…

A:

Q: Kingery Ltd. maintains a balance of $3,000 in its petty cash fund for routine purchases such as…

A: Journal: Recording of a business transactions in a chronological order.

Q: Problem 1 (Petty Cash) George Corp sets up a petty cash fund to pay for relatively small amounts of…

A: Hello, since your question has multiple parts we will solve the first question for you. If you want…

Q: What is the amount of petty cash shortage?

A: Since you have asked two questions under a single question but as per our protocol we provide…

Q: Al-Yahya Enterprise has established a petty cash fund for its small expenditures. The following…

A: The journal entries are prepared to keep the record of day to day transactions of the business. The…

Q: On 1 September 2018, Desa Utara established a petty cash fund of RM900. At the end of the month the…

A: The petty cash fund is created for day to day cash transactions of the business.

Q: AJA Company, provided the following information pertaining to its petty cash fund during the year:…

A: Net overage refers to the inventory or cash surplus which is greater or more than the amount in the…

Q: petty cash fund f

A: The journal entries to record petty cash transactions include entries for establishment,…

Q: The following information relates to Sunland Limited's Cash account. The reconciled cash balance…

A: Journal entries refer to posting of the transactions into the day book or accounts of company and it…

Q: andhill Company maintains a petty cash fund for small expenditures. These transactions occurred…

A: Petty cash is part of cash and cash equivalent that is highly liquidated as it mostly contains cash,…

Q: On November 30, Cactus Company's cash balance per its general ledger is $7,844. The bank's cash…

A: We will have to make a bank reconciliation statement here. This statement reconciles a company’s…

Q: View Policies Current Attempt in Progress Sheridan Company maintains a petty cash fund for small…

A: Petty cash fund is a small amount of cash that a business keeps aside to pay for minor, everyday…

Q: You are assigned to the petty cash count for the KURDAPIA COMPANY at December 31, 2021. The contents…

A: Petty cash fund refers to the fund which is used for paying off the little or small expenses of the…

Q: Blue Spruce Limited maintains a petty cash fund for small expenditures. The following transactions…

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

Q: СР 7-1 The following transactions were made by Landers Corp. in March 2019. Mar. 1 Established a…

A: Petty Cash Fund Petty cash fund is used for recording the transaction of the expenses of petty…

Q: Petty Cash Fund Kingery Inc. maintains a balance of $3,000 in its petty cash fund for routine…

A: Petty cash: Petty cash is also called an imprest cash account. The accountant or cashier of an…

Q: Marin, Inc. decided to establish a petty cash fund to help erisure internal control over its sma…

A: >Petty Cash fund is created out of Cash account. >It is created to pay out certain petty…

Q: Exercise 21-4 (Algo) Summary entries for cash received from customers [LO21-3] For each of the three…

A: Accounts receivable are the money that is owed by the customer or buyer from the business who has…

Q: Willard Company established a $500 petty cash fund on September 9, 2020. On September 30, the fund…

A: Petty cash refers to the small amount of cash maintained by cashier of company in order to meet…

Q: Exercise 6-9: Dension Corp. established a petty cash fund at the beginning of the current month. At…

A: INTRODUCTION Petty cash book is a cash book which is created for making small amounts of business…

Q: Jan Co, established a petty cash fund The following transactions occurred in January 2022:…

A: Petty cash book is a book used to record petty cash expenditures like postage, stationary, repairs,…

Q: None

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: f the Agency approves the establishment of a P30,000 petty cash fund. Here are the following…

A: Petty cash fund is the fund created wherein small amount of cash is transferred and ownership of…

Q: On April 1, 2021, CPA Co. established a petty cash fund for P80,000 by writing a check drawn against…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: Q.2 ABC Co. reports the following information concerning cash balances and cash trausactions for the…

A: Bank Reconciliation Statement A bank reconciliation statement is a statement prepared by the…

Q: Al Shams LLC Expeditions established a petty cash fund for minor day-to-day expenses. Following are…

A: Journal entries                  Accounts and…

Q: Question 17 The following information is available to reconcile Gulf Company's cash book balance…

A: Bank reconciliation statement: A statement that is prepared for the purpose of reconciling the cash…

Q: Current Attempt in Progress On October 1, 2024, Kingbird Company establishes a petty cash fund by…

A: Petty cash fund is a small amount of cash that a business keeps aside to pay for minor, everyday…

Q: The following are data of Taehyung Inc.:  The petty cash fund was established on May 2, 2019, in…

A: The journal entry to record the replenishment of and increase in petty cash fund is as under:…

Q: Selected transactions completed by Kornett Company during its first fiscal year ended December 31,…

A: Journal is a place where accounting transactions are listed in the book keeping system before ledger…

Q: What is the adjusted balance of the petty cash fund? What is the correct amount of cash and cash…

A: Petty cash fund is maintained for small petty expenses in the business. Cash and cash equivalent are…

Q: On January 31, Clark Company's cash balance per its general ledger is $4,280. The bank's cash…

A: Bank reconciliation statement is a statement which reconcile the bank balance of cash book and bank…

Q: May 1 Prepared a company check for $250 to establish the petty cash fund. May 15 Prepared a company…

A: A petty cash fund refers to a small amount of cash that a company maintains in order to pay off…

Q: Part 1: Prepare journal entries to record the establishment of the fund on April 1 and its…

A: Given in the question:Petty Cash created for a tune of amount of $250On April 15, it has been…

Q: Savonn Enterprise is a small retail business located in Alor Setar, Kedah. The followings are…

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

Q: Serato Compāny Reeps accounting records and bank statement for the month ended December 31, 2020…

A: The net adjustment to the cash account is this case can be ascertained through bank reconciliation…

Q: lease answer this accounting question correctly

A: On May 1, Debit: Petty cash & Credit Cash. On June 1, Debit: Delivery expense, Postage expense,…

Q: The following information is available for Birch Company at December 31 Cash in registers Investment…

A: Cash equivalents: These refer to the short term extremely liquid investments that can be immediately…

Q: Petty Cash Transactions A small company maintains a petty cash fund for minor expenditures. In…

A: The journal entries are prepared to record the transactions on regular basis. The petty cash fund is…

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.