The petty cash fund had an initial imprest balance of $100. It currently has $20 and petty cash tickets totaling $75 for office supplies. The entry to replenish the fund would contain a. a credit to Cash Short & Over for $5. b. a credit to Petty Cash for $80. c. a debit to Cash Short & Over for $5. d. a debit to Petty Cash for $80.

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: At the end of the day, the cash register tape lists $1,021.18 as total income from services. Cash on…

A:

Q: Petty cash fund entries Journalize the entries to record the following: a. Check No. 12-375 is…

A: Petty cash fund is the fund created by the entity to fund set out from the cash balance to bear the…

Q: The petty cash fund had an initial imprest balance of $220. It currently has $17 in​ cash, $5 in…

A: Cash balance and petty cash tickets = $17 + $5 + $192 Cash balance and petty cash tickets = $214

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: On March 20, Coronado's petty cash fund of $120 is replenished when the fund contains $5 in cash and…

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: A petty cash fund was originally established with a check for $180. On December 31, the petty cash…

A: Hey there, Since multiple questions are posted only the first question will be answered. Kindly…

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: Crunchy Co. established a P3,000 petty cash fund. You found the following items in the fund:  Cash…

A: Cash short or (Over) = petty cash fund - (Cash and currency + Expense vouchers + Advance to salesman…

Q: a.  Journalize the entry to establish the petty cash fund. If an amount box does not require an…

A: Petty cash book:- Petty Cash book is the book that records all the day to day petty cash (small and…

Q: A count of the petty cash fund having an imprest balance of P10,000 of Reyes Corp. showed its…

A: Petty cash shortage = Petty cash fund - Currency and coins - Paid vouchers - Check drawn - Unused…

Q: On March 20, Crane's petty cash fund of $113 is replenished when the fund contains $12 in cash and…

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

Q: Prepare journal entries for each of the following:a. Issued a check to establish a petty cash fund…

A: A journal entry is prepared by the company to record the non-economic & economic transactions of…

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: On April 1, Java Brewers created a petty cash fund starting with $100. On April 30, there was only…

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

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: A $150 petty cash fund has cash of $54 and receipts of $83.  The journal entry to replenish the…

A: Cash Short (Over) = Petty cash fund - cash - receipts = $150 - 54 - 83 = $13

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: Assume that the Petty Cashier of a $700 petty cash fund has $40 in cash plus $660 in receipts at the…

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

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

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

Q: Ernest Company uses an imprest petty cash system. The fund was established on March 1 with a balance…

A: Solution: Petty cash fund is established to provide business with sufficient to cash to meet minor…

Q: XYZ Company established a $500 petty cash fund on July 1. On July 30, the fund had $120 cash…

A: The asset account is debited when there is an increase and credited with there is a decrease.

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: Hawk Company establishes a $350 petty cash fund on Septomber 9. The journal entry to establish the…

A: Since you have specifically asked for question 14, so we are solving the same for you.

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: At the end of the day, the cash register tape lists $881.40 as total income from services. Cash on…

A: Cash short and over = Cash income recorded on tape - Cash collected = $881.40 - ($18.25 + $433.60 +…

Q: Journalize the entries to record the following: June  1 Established a petty cash fund of $200.…

A: Please find the answer to the above questions below:

Q: The following data relates to ABC Corp's petty cash fund at Dec 31, 20X1: Bills and coins P 1,456…

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

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: 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: Petty Cash Fund Entries Journalize the entries to record the following: a. Check No. 12-375 is…

A: Journal entry - It refers to the process where the business transactions are recorded in the books…

Q: Moon Co. decides to establish a petty cash fund with a beginning balance of $250. At the end of the…

A: Under the imprest system of maintaining petty cash, Petty Cashier is reimbursed whatever amount he…

Q: The entry to replenish the petty cash fund for $250 of various minor expenses would include a debit…

A: A petty cash fund is a very small amount of cash that is kept on hand to pay for various minor…

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

A: All the answer  you did are correct  But you  should  mention  narration also.

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: 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: On March 20, Concord's petty cash fund of $119 is replenished when the fund contains $6 in cash and…

A: Balance of available cash and the total expenses goes to Cash over and short Account.

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

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

Q: The petty cash fund had an initial imprest balance of $100. It currently has $20 and petty cash…

A: Entry to replenish the fund: This is an accounting entry, which is made as an adjusting entry to…

Q: Present entries to record the following transactions:                 (a) Established a petty cash…

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

Q: Assume that the custodian of a $450 petty cash fund has $59.50 in coins and currency plus $385.00 in…

A: About Petty cash is a little  amount of money that is keep on the company premises to pay for…

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: System company needs to replenish its $1000 petty cash fund. Its petty cash box has $150 cash and…

A: Petty cash means small amount of cash transfer received from the cash book to the petty cash book…

Q: petty cash fund

A: Petty cash fund is a small fund made of cash to meet the routine expenses of business.

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: 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: At the end of the day, the cash register tape lists $1,147.42 as total income from services. Cash on…

A: Cash short and over = Income from services + Change Fund - coins - currency - traveler's checks -…

Q: At the end of the day, the cash register tape lists $881.40 as total income from services. Cash on…

A: Total cash = coins + currency + traveler's checks + customers' checks = 18.25+433.60+100.00+427.00 =…

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.