A. Started a petty cash fund in the amount of $250. B. Replenished petty cash fund using the following expenses: Auto Expense $17, Office Expense $25, Postage Expense $88, Miscellaneous Expense $72. Cash on hand is $15. C. Increased petty cash by $100. Record these transactions. If an amount box does not require an entry, leave it blank. A. B. C.
Q: Journalize the necessary entries for each of the following: a. Issued a check to establish a petty…
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
Q: Mercury Company established a petty cash fund with a $400 balance. Which of the following…
A: Journal to establish petty cash account is as follows: Debit: Petty Cash account Credit: Cash…
Q: On March 20, Sheffield’s petty cash fund of $114 is replenished when the fund contains $12 in cash…
A: Petty cash refers to the small amount of cash in hand used to pay expenses that are too small to…
Q: Journalize the entries to record the following: a. Check is issued to establish a petty cash fund of…
A: The petty cash fund is maintained by business to provide cash for day to day minor cash transactions…
Q: A business operates an imprest system for petty cash. The imprest amount is $400. At the end of the…
A: We have the following information: Imprest Amount: $400 Private Phone Calls: $30 Vouchers…
Q: On September 1, French company has decided to initiate a petty cash fund in the amount of $800. A.…
A: Journal entry is the process of documenting commercial transactions for the first time in the books…
Q: 8 MNC LLC established Petty cash fund to maintain its small expenses with OMR 100. At the end of…
A: Petty cash fund is that fund in business that is established for small petty expenses in the…
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: A. Started a petty cash fund in the amount of $450. B. Replenished petty cash fund using the…
A: Sno. Account Titles and Explanation Debit Credit A Petty Cash $ 450 Cash $…
Q: On April 3rd, Snappy Sales decides to establish a $135.00 Petty Cash Account to relieve the burden…
A: Please find the answers to the above questions below:
Q: A. Started a petty cash fund in the amount of $450. B. Replenished petty cash fund using the…
A: Petty cash fund is that fund which is established for the purpose of paying very small or petty…
Q: Journalize the entries to record the following:a. Check is issued to establish a petty cash fund of…
A: a. Journal entry to create the petty cash fund:
Q: A. Started a petty cash fund in the amount of $400. B. Replenished petty cash fund using the…
A: Petty Cash - it is basically a loan from treasury management. Petty cash is day to day expenses that…
Q: Prepare journal entries for the following transactions, using the following accounts as needed:…
A:
Q: a. Journalize the entry to establish the petty cash fund. Petty Cash Cash Feedback…
A: Requirement a: Journal entry to create the petty cash fund:
Q: A company established a petty cash fund for minor day-to-day expenses. Following are activities…
A: The petty cash balance is maintained by business for day to day cash transactions.
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: If a petty cash fund is established in the amount of $200, and contains $119 in cash and $86 in…
A: Petty cash fund is a fund that is established for small petty expenses in your business.
Q: Simran uses the imprest method of accounting for petty cash. She counted the petty cash and there…
A: We have the following information: Cash in hand: $66 Sundry purchases: $22 Loan to sales manager:…
Q: 3. Joshane Company has petty cash fund with an imprest balance of 5,000. On the balance sheet date,…
A: Petty cash is the amount given to cashier for making small payments or reimbursements related to the…
Q: Help
A: Petty cash fund: It is a fund established to pay insignificant amounts like postage, office supplies…
Q: A company established a petty cash fund for minor day-to-day expenses. Following are activities…
A: SOLUTION- A PETTY CASH IS THE SMALL AMOUNT OF CASH ON HAND MAINTAINED BY COMPANIES TO PAY THE SMALL…
Q: A. Started a petty cash fund in the amount of $400. B. Replenished petty cash fund using the…
A: Petty cash fund is a fund setup in organisation that is meant for only small or petty expenses.
Q: Started a petty cash fund in the amount of $250. B. Replenished petty cash fund using the following…
A: The petty cash fund is established to maintain the cash balance for smaller cash transactions of the…
Q: A. Started a petty cash fund in the amount of $300. B. Replenished petty cash fund using the…
A: The petty cash fund is established to maintain the cash balance for smaller cash transactions of the…
Q: - transportation, P600 - gasoline, P400 - office supplies, P500
A: A petty cash fund is a small amount of corporate cash that is usually maintained on hand (for…
Q: A $180 petty cash fund has cash of $15 and receipts of $180. Which of the following would be part of…
A: The petty cash fund has a receipt of $180 thus a Petty Cash Fund A/c was debited for $180 and Cash…
Q: Journalize the entries to record the following: June 1 Established a petty cash fund of $200.…
A: Journal Entry It is used to record the business transactions in an accounting systems.
Q: On September 1, French company has decided to initiate a petty cash fund in the amount of $800. A.…
A: Petty Cash Fund: At times, every business finds it convenient to have small amounts of cash…
Q: Record the following transactions: • Started a petty cash fund in the amount of $400. DR [ Select ]…
A: The petty cash fund is maintained for day to day minor cash requirements of the business.
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…
Q: Prepare journal entries for each of the following: a. Issued a check to establish a petty cash…
A: Minor cash is a term used to describe a dedicated fund established by a company to cover routine…
Q: A company established a petty cash fund for minor day-to-day expenses. Following are activities…
A: Introduction:- For minor day-to-day needs, a corporation established a petty cash pool. This fund's…
Q: petty cash fund
A: Petty cash fund is a small fund made of cash to meet the routine expenses of business.
Q: On September 1, French company has decided to initiate a petty cash fund in the amount of $850. A.…
A: Petty cash funds are those funds which are established and maintained for small petty expenses in…
Q: Hyacinth Company established an imprest petty cash fund for P10,000 by writing a check drawn against…
A: Accounting is essential to operating a company since it allows businesses to track income and…
Q: A. Started a petty cash fund in the amount of $550. B. Replenished petty cash fund using the…
A: Introduction:- Petty Cash Fund means :- Petty cash fund is the amount of money kept to be spent on…
Q: A. Started a petty cash fund in the amount of $250. B. Replenished petty cash fund using the…
A: Petty cash funds are those funds which are maintained or established for small petty expenses in the…
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: Record the following transactions: Started a petty cash fund in the amount of $1,000. Replenished…
A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…
Q: A. Started a petty cash fund in the amount of $300. B. Replenished petty cash fund using the…
A: Petty Cash Fund The purpose of a petty cash fund is to provide business units with sufficient cash…
Q: While examining cash receipts information, the accounting department determined the following…
A: Cash in hand balance should be = Opening Balance + Cash Sales during the period = 177 + 1166.57 =…
Q: 500 balance. It currently has cash of $35 and petty cash tickets as shown below: Travel expense…
A: We need a journal entry to make the petty cash fund back to $500 and record all the expenses…
Q: What is the journal entry to replenish the petty cash fund if expenses were Auto Expense $75, Office…
A: Petty cash is the money that a entity keeps on hand to make small payments, purchases, and…
Q: F. Hai – Co is reviewing the cash accounting for Hei – Co. Hai – Co's review will focus on the petty…
A: Decrease in cash balance = Petty cash fund - Available cash and coins
Q: Suppose that on June 1, Cool Gyrations l, a disc jockey service, create a a petty cash with an…
A: Petty cash: Petty cash fund is established to pay insignificant amount small expenses like office…
Q: A $81 petty cash fund has cash of $25 and receipts of $59. Which of the following would be part of…
A: Actual amount left=Initial fund-Receipts=$81-$59=$22
Q: The debit recorded in the journal to reimburse the petty cash fund is to Select one: A. Cash B.…
A: >Petty Cash fund is created out of cash account to pay off certain small and petty amounts of…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- A. Started a petty cash fund in the amount of $450. B. Replenished petty cash fund using the following expenses: Auto Expense $24, Office Expense $45, Postage Expense $66, Miscellaneous Expense $69. Cash on hand is $246. C. Increased petty cash by $100. Record these transactions. If an amount box does not require an entry, leave it blank. A. В. C. B.A. Started a petty cash fund in the amount of $250.B. Replenished petty cash fund using the following expenses: Auto Expense $17, Office Expense $15, Postage Expense $86, Miscellaneous Expense $74. Cash on hand is $35.C. Increased petty cash by $150. Record these transactions. If an amount box does not require an entry, leave it blank.A. Started a petty cash fund in the amount of $250.B. Replenished petty cash fund using the following expenses: Auto Expense $17, Office Expense $17, Postage Expense $90, Miscellaneous Expense $68. Cash on hand is $30.C. Increased petty cash by $150. Record these transactions. If an amount box does not require an entry, leave it blank. A. Petty Cash Petty Cash Cash Cash B. Auto Expense Auto Expense Office Expense Office Expense Postage Expense Postage Expense Miscellaneous Expense Miscellaneous Expense Cash Over and Short Cash Over and Short Cash Cash C. Petty Cash Petty Cash
- A. Started a petty cash fund in the amount of $400. B. Replenished petty cash fund using the following expenses: Auto Expense $22, Office Expense $39, Postage Expense $24, Miscellaneous Expense $31. Cash on hand is $284. C. The company has decided to reduce the petty cash fund to $350. Record these transactions. If an amount box does not require an entry, leave it blank. А. В. С. Auto Expense Cash Office Expense Petty Cash Postage Expense 11 11111 |A. Started a petty cash fund in the amount of $250.B. Replenished petty cash fund using the following expenses: Auto Expense $72, Office Expense $82, Postage Expense $90, Miscellaneous Expense $6. Cash on hand is $10.C. Increased petty cash by $100. Record these transactions. If an amount box does not require an entry, leave it blank. A. Petty Cash Petty Cash Cash Cash B. Auto Expense Auto Expense Office Expense Office Expense Postage Expense Postage Expense Miscellaneous Expense Miscellaneous Expense Cash Over and Short Cash Over and Short Cash Cash C. Petty Cash Petty Cash Cash CashA. Started a petty cash fund in the amount of $450.B. Replenished petty cash fund using the following expenses: Auto Expense $22, Office Expense $41, Postage Expense $24, Miscellaneous Expense $35. Cash on hand is $328.C. The company has decided to reduce the petty cash fund to $250. Record these transactions. If an amount box does not require an entry, leave it blank.
- A $180 petty cash fund has cash of $15 and receipts of $180. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. a-debit to Cash for $15 b-credit to Cash Short and Over for $15 c-credit to Petty Cash for $180 d-credit to Cash for $180A $100 petty cash fund has cash of $15 and receipts of $86. The journal entry to replenish the account would include a Select one: a. credit to Cash Over and Short for $3. b. credit to Cash for $86. C. credit to Petty Cash for $1. d. The answer does not exist e. debit to Cash for $86. Next pageA. Started a petty cash fund in the amount of $550.B. Replenished petty cash fund using the following expenses: Auto Expense $22, Office Expense $45, Postage Expense $24, Miscellaneous Expense $33. Cash on hand is $426.C. The company has decided to reduce the petty cash fund to $350. Record these transactions. If an amount box does not require an entry, leave it blank. A. - Select - - Select - - Select - - Select - B. - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - C. - Select - - Select -
- Prepare journal entries for each of the following:a. Issued a check to establish a petty cash fund of $1,000.b. The amount of cash in the petty cash fund is $315. Issued a check to replenish the fund, based on the following summary of petty cash receipts: repair expense, $600, and miscellaneous selling expense, $56. Record any missing funds in the cash short and over account.Prepare journal entries for each of the following: a. Issued a check to establish a petty cash fund of $500. If an amount box does not require an entry, leave it blank. fill in the blank 2d5507fe6fa0fa7_2 fill in the blank 2d5507fe6fa0fa7_3 fill in the blank 2d5507fe6fa0fa7_5 fill in the blank 2d5507fe6fa0fa7_6 b. The amount of cash in the petty cash fund is $85. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $360 and miscellaneous selling expense, $40. Record any missing funds in the cash short and over account. If an amount box does not require an entry, leave it blankA $180 petty cash fund has cash of $20 and receipts of $146. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. credit to Cash for $180 debit to Cash for $20 debit to Cash Short and Over for $14 credit to Petty Cash for $146