The petty cash fund is established in the amount of P5,000 and contains P4,000 in cash and P950 in receipts for disbursements when it is replenished. The journal entry to record replenishment should include credit/s to the following account/s a. Petty Cash, P750 b. Petty Cash, P1,000 c. Cash in Bank, P950; Cash Over and Short, P50 d. Cash in Bank, P1,000

Q: A $195 petty cash fund has cash of $20 and receipts of $161. The journal entry to replenish the…

A: Journal entry is a process of recording business transactions in the books of accounts for the first…

Q: A $77 petty cash fund has petty cash on hand of $20 and receipts of $48. The journal entry to…

A: The petty cash fund is established to maintain a separate account for daily expenses so that the…

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: March Transactions: Mar. 1 Established a petty cash fund of $856.   31 The amount of cash in the…

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

Q: PA1. On September 1, French company has decided to initiate a petty cash fund in the amount of $800.…

A: Petty cash is a fixed amount set aside to meet day to day expense of small values. Petty cash fund…

Q: 7. On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200.…

A: The company maintains availability of small amount to pay daily expenses in the form of petty cash.

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 $102 petty cash fund contains $90 in petty cash receipts, and $7 in currency and coins. Which of…

A:

Q: A company needs to replenish its $500 petty cash fund. Its petty cashbox has $75 cash and petty cash…

A: Petty cash fund is maintained when the number of small cash expenses are in huge number for an…

Q: $121 petty cash fund has cash of $19 and receipts of $99. The journal entry to replenish the account…

A: Replenish of petty cash fund means reimbursement of petty cash fund.

Q: A $114 petty cash fund has cash of $16 and receipts of $91. The journal entry to replenish the…

A: Petty cash fund is a type of fund set aside by a company to meet daily expenses of the company.…

Q: The actual cash received from cash sales was $12,100 and the amount indicated by the cash register…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: A $180 petty cash fund has cash of $20 and receipts of $146. Which of the following would be part of…

A: Cash Need to Replenish to Petty Cash Fund = Amount of Fund to Be - Cash Receipts - Amount of Cash…

Q: Assume that the custodian of a $465 petty cash fund has $67.50 in coins and currency plus $391.50 in…

A: The petty cash balance is maintained for day to day cash transactions of the business.

Q: 9. A petty cash fund was originally established with a check for $200. On August 31, which is the…

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

Q: On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto…

A: Conceptual base - Petty cash is the small amount of cash kept on hand for small cash payments and…

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: On September 1, 2020, Walls Company establishes a petty cash fund by issuing a check for $100 to…

A: Note: Since you have asked multiple question, we will solve the first question for you. If you want…

Q: To be considered a Cash and cash equivalent, the account must hold:  Group of answer choices…

A: Cash and cash equivalents are assets that are readily convertible to cash and are considered to be…

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: 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: Continue using the journal and journalize the following transaction: Mar. 31. Paid cash to replenish…

A: Journal entry means the entry in prime book with chronological order. Journal entry should have…

Q: Imprest amount Coins and currency Petty cash receipts Required: Prepare all the necessary journal…

A: Imprest Petty cash method is a method wherein petty cash expense incurred which is supported by…

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: 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: Current Attempt in Progress On March 20, Sheridan's petty cash fund of $104 is replenished when the…

A: Petty cash means where a separate cash book is maintained which is usually deals with the small…

Q: Help

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

Q: $162 petty cash fund has cash of $37 and receipts of $124. The journal entry to replenish the…

A: The petty cash account is used for payouts small incidental expenses such as utility expenses,…

Q: March 1 Established a petty cash fund of $877. March 31 The amount of cash in the petty cash fund is…

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

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: Journalize the entries to record the following: March 1 Established a petty cash fund of $877.…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

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: A $65 petty cash fund has cash of $20 and receipts of $60. The journal entry to replenish the…

A: Petty cash book  is the cash books in which we include small expenses, It is sorted by date, we can…

Q: Below is Huru's Company information for the preparation of proof of cash:  Nov 30…

A: Cash and cash equivalents refer to cash or can be converted into cash immediately. It is reported…

Q: 7. On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200.…

A: Petty Cash The cash book is the most important subsidiary book which is used to record all receipts…

Q: A $142 petty cash fund has cash of $22 and receipts of $126. The journal entry to replenish the…

A: Petty cash is the fund which is kept by the entity with the cashier so as to pay off the petty…

Q: A petty cash fund was originally established witha cheque for $150. On December 31, you find the…

A: PETTY CASH ARE SMALL AMOUNT OF FUNDS IN THE FORM OF CASH USED FOR MAKING OUT EXPENSITURE WHERE IT IS…

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: 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: Knowledge Check Seal Mate established a $100 petty cash fund on June 1. On June 30, the fund had $17…

A: Petty cash is money kept for small and incidental expenses. Petty cash is current account and…

Q: E8.8 (LO 2) Horvath Company uses an imprest petty cash system. The fund was established on March 1…

A: Petty Cash Fund A small cash fund's main objective is to give company units enough money to pay for…

Q: A $73 petty cash fund has cash of $17 and receipts of $66. The journal entry to replenish the…

A: Petty Cash Fund : Petty cash fund means small amount kept aside to pay Petty expenses.  Such as…

Q: On October 1, 2025, Skysong Nail Bar Company establishes a petty cash fund by issuing a check for…

A: To establish petty cash fund, petty cash is to be debited and cash is credited To replenish the…

Q: A $84 petty cash fund has cash of $17 and receipts of $72. The journal entry to replenish the…

A: Petty cash is used to keep a separate cash account for day to day office expenses. It is usually…

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.