ABC LLC started a petty cash fund with opening balance of RO 500. During the month the receipts were RO 145 petrol, 75 office stationery, RO125 staff welfare and 85 travelling and there was RO 65 left in the petty cash box. The fund balance is to be increased to RO600. How much is the amount required to be refill in the petty cash fund? a. RO 530 b. RO 425 c. RO 535 d. RO 435

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A:

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A: Petty cash fund is a fund maintained by the cashier in an organization to pay the regular…

Q: The entry to replenish the petty cash fund will include A a credit to Cash for $412. B a credit to…

A: Given information is: Petty Cash fund = $500 Receipts at the end of the month = $412 Currency = $62

Q: 2. Agency XYZ established a petty cash fund for P5,000. During the year, out of the petty cash fund,…

A: solution : calculation of MOOE (maintenance and operating expenditure) Office supplies 1000…

Q: Petty cash fund had opening balance of RO 400. During the month the receipts were RO RO 65 staff…

A: Total of receipts  = staff welfare + petrol + office stationery + travelling = RO 65 + 195 + 75 + 55…

Q: Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions…

A: Journal Entry: Journal entry is a first step towards the bookkeeping. All the transactions incurred…

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: 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: On October 1, 20--, a check was written in the amount of $300 to establish a petty cash fund. During…

A: Part a ) Journal Entry to establish a petty cash fund Date Account Debit Credit Jan-01 Petty…

Q: SUN LLC started a Petty cash fund. During the month the receipts were RO 235 petrol, 125 office…

A: Introduction: Petty cash balance: Petty cash is used to spend small miscellaneous expense. All…

Q: The petty cahs fund is $800 On September 5, the petty cash fund needed replenishment, and the…

A:

Q: s established at $100. After the first month, the cash in the petty cash box amounted to $21. The…

A: A Petty cash fund is established to take care of the daily small expenses of a firm. This is…

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: ABC LLC started a petty cash fund with opening balance of RO 500. During the month the receipts were…

A: Receipts=Petrol+Stationery+Staff welfare+Travelling=RO 145+75+125+85=RO 430

Q: Accounting for petty cash transactions On September 1, Party Salad Dressings creates a petty cash…

A: 1. Explain the characteristics and features of an imprest system.Characteristics and internal…

Q: Jan Co, established a petty cash fund The following transactions occurred in January 2022:…

A: Petty cash book is a book used to record petty cash expenditures like postage, stationary, repairs,…

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: Feb 2-Märt established a petty cash fund recently and the following transactions affecting the fund…

A: The petty cash fund is established to maintain the cash balance for smaller cash transactions of the…

Q: The following petty cash transactions were made by the Freeman Corporation during the month…

A: Petty cash is used by the company to meet day to day small expenses.

Q: CAT LLC had an opening balance of RO 200 in petty cash. During the month the receipts were RO 65…

A: Petty Cash: Petty cash, also known as cash, is a small sum of money kept on hand for paying costs…

Q: Petty cash fund had an opening balance of RO 200. During the month the receipts were RO 45 petrol,…

A: Total amount spent = petrol + office stationery + staff welfare + travelling = RO 45 + 50 + 55 + 30…

Q: RAK company started a Petty cash fund. During the month the receipts were RO 235 petrol, 125 office…

A: Total of receipts =  petrol + office stationery + staff welfare + travelling =  RO 235 + 125 + RO…

Q: record the following transactions: A. Started a petty cash fund in the amount of $500 B.…

A: Solution- S no Particular Amount DR Amount CR 1 Petty cash --------------------------------DR…

Q: On April 2, Granger Sales decides to establish a $125.00 petty cash fund to relieve the burden on…

A: Cash used=Petty cash fund-Cash in hand=$125-$13.55=$111.45

Q: Using the following information, prepare the journal entries to: a. Establish a $200 petty cash…

A: a.

Q: ABC LLC started a petty cash fund with opening balance of RO 500. During the month the receipts were…

A: Petty Cash Fund The purpose providing the petty cash fund to the organisation to meet the petty…

Q: Brooks Agency set up a petty cash fund for $150. At the end of the current period, the fund…

A: Petty cash is a fund which is created to meet day to day activities or expenses such as -small…

Q: Assume that the custodian of a $500 petty cash fund has $62 in currency plus $412 in receipts at the…

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

Q: Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions…

A: Petty Cash is maintained for the petty day-to-day expenses. If the value of invoices for the…

Q: Bramble Company maintains a petty cash fund for small expenditures. These transactions occurred…

A: Petty cash is a nominal amount that is easily accessible to pay for expenses with little to do…

Q: r audit client, VWX Corporation, set up a petty cash fund for the first time last October 1, 2021,…

A: The adjustment entries are prepared to adjust the revenue and expenses of the current period.

Q: Petty cash fund had an opening balance of RO 700.During the month the receipts were RO 245 petrol,85…

A: Petty cash fund is the fund created mainly for small office transactions ranging from stationary…

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: On September 1, French company has decided to initiate a petty cash fund in the amount of $800.…

A: Journal entry is a process of recording and classifying business transactions into books of accounts…

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: Kiona Company set up a petty cash fund for payments of small amounts. The following transactions…

A: A journal is a book in which a business records its transaction according to chronological order. A…

Q: The Head of the Agency approves the establishment of a P30,000 petty cash fund. Here are the…

A: Petty cash is kind of source of cash fund which is used by businesses to make small amount payments…

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

A: Lets understand the meaning of petty cash. Petty cash is a established to pay small amount of daily…

Q: BAT LLC had an opening balance of RO 400 in the petty cash fund. During the month the receipts were…

A: Amount required to be refilled = Petty cash fund required per month - balance in petty cash box

Q: Carson's Bakery requires $500 cash to be on hand in the petty cash fund. During the month of October…

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

Q: .The Opening balance of Petty cash is.

A: Every business finds it convenient to have small amounts of cash available for immediate payment of…

Q: Petty cash fund had an opening balance of RO 200. During the month the receipts were RO 45 petrol,…

A: As the opening balance of petty cash is 200 it is to be assumed that the allowed fund is 200 for…

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

A: SOLUTION PETTY CASH IS A SMALL AMOUNT OF CASH THAT IS KEPT ON THE COMPANY PREMISES TO PAY FOR THE…

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.