Which of the following is not true? a. The Petty Cash account is debited when the fund is replenished. b. The imprest petty cash system in effect adheres to the rule of disbursement by check. c. Entries are made to the Petty Cash account only to increase or decrease the size of the fund or to adjust the balance if not replenished at year-end. d. All of these answer choices are not true.

Q: Which of the following adjusts the bank's balance of cash in a bank reconciliation?  (More than one…

A: >Bank reconciliation statement, is a statement prepared on a particular date, to reconcile the…

Q: If an accountant mistakenly uses the General journal to record a payment of cash for a bill that is…

A: The general journal is the book in which raw business transactions are recorded.The first book in…

Q: Which of the following has incorrect treatment for the bank and book reconciling items assuming…

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

Q: use the cash balance per ledger to be greater tl ual by charging an amount to the depositor's acce…

A: Bank reconciliation is a statement made in order to ascertain the reasons for the difference between…

Q: If a petty cash account is short and the fund is replenished, then the account that would be debited…

A: Petty cash is the cash set aside that is maintained in a business for petty expenses such as office…

Q: f an accountant mistakenly uses the General journal to record a payment of cash for a bill that is…

A:

Q: After removing the Change Fund, a cash shortage exists if: a.the Petty Cash Fund is greater than the…

A: To meet daily expenses which are insignificant in nature, organisation keeps some amount of change…

Q: The petty cash fund account under the imprest fund system is debited A. only when the fund is…

A: 1. Petty Cash - Petty Cash account is amount maintained by the organization to handle petty (small)…

Q: If a check correctly written and paid by the bank for $744 is incorrectly recorded on the company's…

A: Bank reconciliation: It is a statement which is prepared to reconcile the balance as per cash book…

Q: Which of the following statements in relation to accounting for petty cash fund is false? Group of…

A: The petty cash fund maintains the cash balance for transactions such as stationery, or other minor…

Q: The following statements relate to cash. Which statement is false? O Legally restricted compensating…

A: 1. Restricted cash balance will always be excluded from cash . Therefore it is true statement.   3.…

Q: Which of the following statements about reconciling items is true? A Debit memoranda should be…

A: Bank reconciliation statement, which summarizes the differences between the adjusted bank balance…

Q: 32.At the end of the accounting period, the petty cash fund/drawer showed petty cash vouchers for…

A: The petty cash fund is created to have sufficient cash balance for day to day cash expenses.

Q: A check returned by the bank marked "NSF" means Select one: a. not satisfactorily filled-out. b. not…

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

Q: Which of the following are important elements of a cash disbursement control system? Note: Select…

A: Answer:- Cash disbursement control system meaning:- To put it succinctly, a cash disbursement…

Q: What if the drawee bank failed to determine right away that the CHECK is supposed to be dishonored…

A: Cheque bounce is a criminal offence under Section 138 of the Act, for which the payee can file a…

Q: Entity A maintains a petty cash fund. At any given point of time, the cash on hand and the petty…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: For proper segregation of duties in cash disbursements, the person who signs checks also a. reviews…

A:

Q: .ch of the following statements is true? A. Window dressing is a practice of closing the books of…

A: Window dressing: It means to improve the appearance of a company's financial statements before it is…

Q: 57. Entity A maintains a petty cash fund. At any given point of time, the cash on hand and the petty…

A: The system which is used to manage petty cash fund is called imprest system . Under this system ,at…

Q: Under the imprest system, which amount the following situations when accounting entry is/are made?

A: Petty cash fund under the Imprest system does not record any entries unless the account is being…

Q: Bank errors should: Group of answer choices be adjusted in book but not in bank proof of cash. be…

A: when ever transaction is recorded in the cash book and pass book there is is always a chance that…

Q: petty cash fund/

A: Correct answer is A :- cash will be understated and expenses will be overstated.

Q: Which of the following is true of a petty cash voucher? a.It must be issued once in a month by a…

A: petty cash is used to provide sufficient funds to meet the minor expenditure of business.

Q: Evaluate the following statements Statement 1: Under the punctuating system of petty cash…

A: Cash and cash equivalents is one of the items recorded as a current asset in the balance sheet of an…

Q: oice EFT are checks written by the dep bank statement date.

A: EFT stands for Electronic Funds Transfer. It is a computer-based system that enables the transfer of…

Q: one: stablishing the fund, ma ck payment and never

A: PETTY CASH involves , b) establishing the fund , making payment and replenish the fund.

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.