CAT LLC had an opening balance of RO 200 in petty cash. During the month the receipts were RO 65 petrol, RO 25 office stationery, RO 65 staff welfare and RO 30 travelling and there was RO 12 left in the petty cash box. The fund amount was raised to RO 300 from the end of the month. The amount required to refill the fund will be a. RO 185 b. RO 285 c. RO 188 d. RO 288

Q: Prepare journal entries for Crane Company for May 1, June 1, July 1, and July 10.

A:

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: Crane Company established a petty cash fund on May 1, cashing a check for $125. The company…

A: Petty Cash is the amount which is kept aside by the entities for meeting up the routine outlays of…

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: Swifty Company established a petty cash fund on May 1, cashing a check for $125. The company…

A: Journal entry is a record of financial transaction in the books of accounts of a business. It…

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: 16-Petty cash fund had an opening balance of RO 200. During the month the receipts were RO 45…

A: Petty cash fund is that fund which is established for the purpose of small or petty expenses of the…

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

A: Any amount for which report or invoice is missing goes to Cash Over & Short.

Q: D. On September 29, the company determined that the petty cash fund needed to be increased lU E. On…

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

Q: Prepare journal entries for the above transactions. If an amount box does not require an entry,…

A: Petty cash book :- Petty cash book is a book that records small small expenses that are incurred in…

Q: The Crying Fish has a change fund of $300. Cash sales on August 10 per the cash register are $1,125.…

A: Change fund is a set of money used by the department to make change to the customers, who purchase…

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: 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: 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: Moccasin Company maintains a Petty Cash Fund. The beginning balance of the fund in the month of…

A: Balance = Beginning Balance of Fund - Total Payments

Q: Conway Designs established a $290 petty cash fund on October 1, 2020. Prepare the entry to replenish…

A: Req-1       Date  General Journal   Debit   Credit  Oct 31, 2020  Cleaning expenses  $150…

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: 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: On June 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,300. A. On…

A: Petty cash fund  It is a certain amount of fund which is kept aside for meeting small and day to day…

Q: Petty cash fund had opening balance of RO 500. During the month the receipts were RO RO 110 staff…

A: Amount required to refill the fund = Total fund amount required - Fund left in the petty cash box

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: 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: 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: 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: Ovy Inc. established a $175 petty cash fund on August 15, 2012. On August 31, 2012, the fund…

A: Petty cash is the statement prepared in order to keep a record of miscellaneous expenditures…

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

A: Petty cash fund is prepared to do the small expense from the petty cash fund and not from the main…

Q: T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200. By the end of…

A: Petty cash: Petty cash fund is eastiblished to pay insignifinant amount small expenses like office…

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: Swifty Company established a petty cash fund on May 1, cashing a check for $125.00. The company…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Halle’s Berry Farm establishes a $200 petty cash fund on September 4 to pay for minor cash…

A: Petty cash is the amount of cash which is kept aside for the employee to make small purchases on 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: Sheridan Company established a petty cash fund on May 1, cashing a check for $100. The company…

A: Petty cash fund will be used for petty expenses.  First, we take some amount from the bank account…

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: 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: Each month, $150 is available in petty cash funds for small office expenditures. Expenses paid from…

A: Petty cash fund is established to meet day to day cash expenses.

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

A: Lets understand the basics. Petty cash is created from the cashbook. It is a cash which will going…

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: ash on hand at this time was $132. B. On June 14, the petty cash fund needed replenishment, and the…

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

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 =…

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 300. During the month the receipts were RO 70 staff…

A: The petty cash fund is established to maintain the cash in business for day to day cash…

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…

Q: Johnston Construction created a petty cash fund on July 1, 2017 with an imprest balance of $400.…

A: The petty cash fund is a current asset for the business. It is established by business to maintain…

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.