the petty cash fund of the wee ones agency was established on may1, 2023, at $75. at the end of the month the fund contained $13 and had the following receipts. Film rentals, $19, refreshments for meetings, $23(both expenditures to be classified as an entertainment expense, postage, $7 and printing, $13. 1. prepare the journal entry to record the establishment of the fund. 2. prepare a summary of the petty cash payments similar to

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

A: a) Journal entry to establish the petty cash fund Date Accounts title and explanation Debit…

Q: On April 2, Granger Sales decides to establish a $370 petty cash fund to relieve the burden on…

A: Date particulars amount amount Apr 2  petty cadh $370     Cash   $370   Being cash paid…

Q: On July 1, 2024, Cromartie Furniture established a $150 petty cash fund. A check for $150 was made…

A: A debit to petty cash and a credit to cash for $150 General JournalDebitCreditPetty cash$150 Cash…

Q: On March 1, a company established a $75 petty cash fund. On March 12, the petty cash fund contains…

A: Journal entries are the initial recording of all the monetary business transactions in a systematic…

Q: 1. Brooks Agency set up a petty cash fund for $230. At the end of the current period, the fund…

A: Given: Petty Cash fund:$230 Entertainment Expense:$42 Postage :$29 Printing:$27

Q: 1. Brooks Agency set up a petty cash fund for $260. At the end of the current period, the fund…

A: The petty cash fund is used for different small expenses and is replenished every month. it helps to…

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

A: Petty Cash means A small amount of money kept in an office to pay for small items.

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: list entry worksheet entry to recognize expenditures from the petty cash fund. bits before credits.…

A: Ans. Journal entry to record expenses made from petty cash funds can be passed either by making a…

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, ATP Enterprises has decided to initiate a petty cash fund in the amount of $800.…

A:

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: Loucks Company established a $330 petty cash fund on October 2, 2024. The fund is replenished at the…

A: JOURNAL ENTRIESJournal Entry is the first stage of Accounting Process. Journal Entry is the Process…

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: A company establishes a petty cash fund for $480. By the end of the month, employees had made the…

A: JOURNAL ENTRIESJournal Entry is the First stage of Accounting Process. Journal Entry is the Process…

Q: Required: Prepare the journal entry to replenish the fund at the end of September. Note: If no…

A: Petty cash is a nominal sum which is preserved in hand to cover minor expenses, such as…

Q: Prepare the necessary journal entries for each of the following:         (a) On March 1, issued a…

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

Q: On April 2, Granger Sales decides to establish a $280 petty cash fund to relieve the burden on…

A: Cash Short and Over: A miscellaneous expense account used to record the difference between the…

Q: On April 2, Granger Sales decides to establish a $280 petty cash fund to relieve the burden on…

A: Person managing the Petty cash fund is called a petty cashier. There are various small expenses…

Q: 1. Brooks Agency set up a petty cash fund for $270. At the end of the current period, the fund…

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

Q: Havermill Company establishes a $250 petty cash fund on September 1. On September 30, the fund is…

A: A petty cash fund is a fund created or cash kept aside to maintain small expenses. It is prepared by…

Q: Instructions   Journalize the necessary entries for each of the following: Required: a. On March 1,…

A: Petty Cash Fund is created to meet recurring cash expenses by an entity. It works on imprest system…

Q: T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200. By the end of…

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

Q: On August 3, Sonar Sales decides to establish a $275 petty cash fund to relieve the burden on…

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

Q: Penny-Wise Pound-Fool Company established a $400 petty cash fund on September 1, 2021. The fund is…

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

Q: On April 2, Granger Sales decides to establish a $350 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: On April 2, Granger Sales decides to establish a $380 petty cash fund to relieve the burden on…

A: Petty cash seems to be a small quantity of money kept on hand to handle minor costs including such…

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

A: 1. On September 5 to reimburse the expense Petty cash a/c..(Dr) 748 To cash a/c 748     2. On…

Q: On April 3, Snappy Sales decides to establish a $135 petty cash fund to relieve the burden on…

A: Person managing the Petty cash fund is called a petty cashier. There are various small expenses…

Q: Loucks Company established a $200 petty cash fund on October 2, 2018. The fund is replenished at the…

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

Q: 1. Brooks Agency set up a petty cash fund for $270. At the end of the current period, the fund…

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

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.