A $150 petty cash fund has cash of $54 and receipts of $83. The journal entry to replenish the account would include a a. credit to Petty Cash for $29 b. debit to Cash for $83 c. credit to Cash for $54 d. debit to Cash Short and Over for $13
Q: A $195 petty cash fund has cash of $20 and receipts of $161. The journal entry to replenish the…
A: Journal entry is a process of recording business transactions in the books of accounts for the first…
Q: EcoMart establishes a $1,050 petty cash fund on May 2. On May 30, the fund shows $326 in cash along…
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
Q: Record the following transactions: • Started a petty cash fund in the amount of $400. DR [ Select ]…
A: Petty Cash Fund: The cash fund that is used to pay small expenditures in business. That is called a…
Q: March Transactions: Mar. 1 Established a petty cash fund of $856. 31 The amount of cash in the…
A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…
Q: 1. Record the following transactions: Started a petty cash fund in the amount of $300. Replenished…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Bonita Company established a $110 petty cash fund on August 1. On August 31, the fund had $16 cash…
A: Journal Entries Date Particulars LF Debit ($) Credit ($) 01st Aug Petty Cash 110…
Q: A $150 petty cash fund has cash of $54 and receipts of $83. The journal entry to replenish the…
A: Journal entries are the building blocks of accounting, which is the act of recording the economic or…
Q: Calculator A $200 petty cash fund has cash of $20 and receipts of $177. The journal entry to…
A: Petty cash fund refers to the small amount of money which an organization keeps for paying its minor…
Q: A $102 petty cash fund contains $90 in petty cash receipts, and $7 in currency and coins. Which of…
A:
Q: $121 petty cash fund has cash of $19 and receipts of $99. The journal entry to replenish the account…
A: Replenish of petty cash fund means reimbursement of petty cash fund.
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: A $130 petty cash fund has cash of $16 and receipts of $101. The journal entry to replenish the…
A: Date Accounts Titles and Explanation Debit Cedit Expenses $101 Cash…
Q: A $150 petty cash fund has cash of $25 and receipts of $119. The journal entry to replenish the…
A: A Journal entry is a primary entry that records the financial transactions initially. The…
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: A $144 petty cash fund has cash of $24 and receipts of $109. The journal entry to replenish the…
A: The corporation create petty cash fund to meet its sundry expenses took place in daily course of…
Q: A Petty Cash fund is being set up for $1,300. The journal entry would be: O A. Cash 1,300 Petty Cash…
A: Given, Petty cash fund set up for $1,300. Increase in assets should be debited and decrease in…
Q: a. Issued a check to establish a petty cash fund of $500. If an amount box does not require an…
A: Solution a: Journal Entries Event Particulars Debit Credit a Petty Cash $500.00…
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: Crane Company established a $100 petty cash fund on August 1. On August 31, the fund had $5 cash…
A: Date Accounts title and Explanation Debit ($) Credit ($) Aug 01 Petty Cash $100…
Q: A $146 petty cash fund has cash of $23 and receipts of $131. The journal entry to replenish the…
A: Petty cash fund Petty cash fund is established with a small amount to spend day to day small…
Q: The petty cash fund had an initial imprest balance of $100. It currently has $20 and petty cash…
A: Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…
Q: Prepare journal entries for each of the following:a. Issued a check to establish a petty cash fund…
A: Petty cash fund: It is a fund established to pay insignificant amounts like postage, office supplies…
Q: Prepare journal entries for each of the following: a. Issued a check to establish a petty cash…
A: Journal entry : It is prepared record the financial and non financial transaction of the business…
Q: A $100 petty cash fund has cash of $9 and receipts of $85. The journal entry to replenish the…
A: Petty cash fund is a small amount of cash balance maintained by the company in hand, to pay of small…
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: If a petty cash fund is established in the amount of $348 and contains $200 in cash and $134 in…
A: JOURNAL ENTRY FOR REPLENISHMENT : PARTICULARS DEBIT CREDIT SUNDRY EXPENSE $134 CASH…
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A: Petty cash book is the cash books in which we include small expenses, It is sorted by date, we can…
Q: A $200 petty cash fund has cash of $20 and receipts of $177. The journal entry to replenish the…
A: The petty cash fund should be replenished every month. So that accounts can be maintained easily and…
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: 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: A $250 petty cash fund has cash of $15 and receipts of $230. The journal entry to replenish the…
A: Particulars Debit (in $) Credit (in $) Expenses Cash short and over [250 - (230+15)]…
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: 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: A $73 petty cash fund has cash of $17 and receipts of $66. The journal entry to replenish the…
A: Petty Cash Fund : Petty cash fund means small amount kept aside to pay Petty expenses. Such as…
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: A $84 petty cash fund has cash of $17 and receipts of $72. The journal entry to replenish the…
A: Petty cash is used to keep a separate cash account for day to day office expenses. It is usually…
Q: A $135 petty cash fund has cash of $18 and receipts of $120. The journal entry to replenish the…
A: The correct answer is Option (d).
Q: A $100 petty cash fund has cash of $15 and receipts of $86. The journal entry to replenish the…
A: Petty cash fund is a fund which creates by the management of an organization to make small payments…
Q: A $167 petty cash fund has cash of $18 and receipts of $141. The journal entry to replenish the…
A: Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…
Q: A $210 petty cash fund has cash of $40 and receipts of $167. The journal entry to replenish the…
A: A petty cash fund is prepared to payout minor miscellaneous expenses such as office supplies, sundry…
Q: Journalize the entries to record the following: Mar. 1 Established a petty cash fund of $582. Mar.…
A: Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…
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: A $126 petty cash fund contains $116 in petty cash receipts, and $7 in currency and coins. Which of…
A: Journal:- These are prepared by the companies with debit and credit sides in order to match the…
Q: 7. Journalize the entries to record the following: established a petty cash fund of $350 The amount…
A: A petty cash fund is a small sum of money held on hand in a locked drawer or box to cover small…
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: $54 petty cash fund has cash of $19 and receipts of $24. The journal entry to replenish the account…
A: The reimbursement of petty cash fund is called as replenishing petty cash fund.
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- Record the following transactions: A. Started a petty cash fund in the amount of $200. B. Replenished petty cash fund using the following expenses: Auto $15, Office Expenses $20, Postage Expense $81, Miscellaneous Expenses $66. Cash on hand is $10. C. Increased petty cash by $75.Record the following transactions: A. Started a petty cash fund in the amount of $500. B. Replenished petty cash fund using the following expenses: Auto $24, Office Expenses $43, Postage Expense $19, Miscellaneous Expenses $25. Cash on hand is $389. C. The company has decided to reduce the petty cash fund to $300.Record the following transactions: A. Started a petty cash fund in the amount of $1,000. B. Replenished petty cash fund using the following expenses: Auto $61, Office Expenses $23, Postage Expense $57, Miscellaneous Expenses $30. C. The company has decided to reduce the petty cash fund to $600.
- On June 1 French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries for the following transactions: A. On June 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $220. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $251, Supplies $88, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $20. D. On June 29, the company determined that the petty cash fund needed to be increased to $1,000. E. On June 30, the petty cash fund needed replenishment, as it was month end. The following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $437.On September 1, French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries for the following transactions: A. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48. B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $210. C. On September 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $251, Supplies $88, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $20. D. On September 29, the company determined that the petty cash fund needed to be increased to $1,000. E. On September 30, the petty cash fund needed replenishment as it was month end. The following are the receipts: Auto Expense $18, Supplies $15, Postage Expense $57, Repairs and Maintenance Expense $49, Miscellaneous Expense $29. The cash on hand at this time was $837.On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: A. On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $80. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment as it was month-end. The following are the receipts: Auto Expense $114, Supplies $75, Postage Expense $50, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.
- Enter the following transactions in a cash payments journal like the one illustrated in the chapter: Aug. 2 Issued Check No. 193 in payment of August rent (Rent Expense), 2,200. 6 Issued Check No. 194 to Mason Hardware in payment of merchandise purchased on account, 1,700, less 2% discount. The check was written for 1,666. 10 Issued Check No. 195 to Augies Wholesale for cash purchase of merchandise, 2,730.A company has decided to start a petty cash fund for $150. Which of the following is the correct journal entry? A. B. C. No entry is required. D.What is the journal entry to record an NSF check, from J. Smith for 250, that is returned with the bank statement? a. Cash 250 DR; NSF Check 250 CR b. Accounts Receivable 250 DR; Cash 250 CR c. NSF Check 250 DR; Accounts Receivable 250 CR d. Cash 250 DR; Accounts Receivable 250 CR e. Cash 250 DR; Miscellaneous Expense 250 DR
