The petty cash fund of ABC Corp consisted of the following: Currency and coins, P2,000 Employees IOUs, P1,600 Currency in an envelope marked "collections for charity" , P1,200 Unreplenished petty cash vouchers, P1,300 Check drawn by ABC Corp payable to petty cashier, P4,000 The ledger showed a petty cash fund of P10,000 How much is the cash balance?

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

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A: >Petty Cash fund is created out of cash account to pay off certain small and petty amounts of…

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A: Journal entry is a primary entry that records the financial transactions initially.

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A: Replenishment of Petty Cash Petty cash is a little sum of money maintained on hand to cover petty…

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Q: CPA Company reported the following information on December 31, 2021: Cash on hand Petty cash fund…

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Q: Check No. 12-375 is issued to establish a petty cash fund of $900. The amount of cash in the petty…

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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…

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A: Petty cash is a nominal amount that is readily accessible for paying expenses too small by writing a…

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Q: Check No. 12-375 is issued to establish a petty cash fund of $600. The amount of cash in the petty…

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Q: ABC company paid cash to replenish the petty cash fund: $145; $72 for supplies; $40 for advertising…

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

Q: Record the following transactions: A. Started a petty cash fund in the amount of $ 1,500. B.…

A: Introduction: Internal controls are rules and processes that a company implements to achieve…

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.