EFG Company established a petty cash fund of P90,000 on December 1, 2021.As of December 31, 2021, the petty cash count revealed the following:       Bills and coins               19,000Expense vouchers of the following:     Supplies               12,000  Representation               10,000  Miscellaneous               15,000Postage stamps                5,000Check payable to the petty cash custodian            38,000Envelope containing christmas party contributions (opened and empty)               3,000       How much is the cash (shortage)/overage?

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

A:

Q: While checking the cash account of the Torquoise Company on December 31, 2020, you find the…

A: Torquoise Company           Bank Reconciliation           December 31, 2020…

Q: As of December 31, 2020, Grimmie Company's general ledger reported a total cash balance of P695,000.…

A: Cash represents the current assets reported in the balance sheet of the company.

Q: Yuri Company have the following information for their financial reporting of their cash on December…

A: Statement showing Cash balance as on 31-12-2020 PARTICULARS   AMOUNT (P) Checkbook balance…

Q: The petty cash fund of Bianca Company on December 31, 2019 is composed of the following: Coins and…

A: Bianca Company's On 31.12.2019, Coins and currencies = P17000 Petty cash vouchers of Gasoline =…

Q: At year-end, Mariz Company reported cash and cash equivalent comprising: cash on hand P 500,000,…

A: Cash : Cash is a legal tender that are used as an exchange for goods , debt or service. Sometimes…

Q: On December 1, 2021, Andi Company established a petty cash fund of P50,000. On December 31, 2021,…

A: The petty cash fund is maintained by the company for the day to day expenses of the business.

Q: ABSB established a $100 petty cash fund on January 1, 2021. On January 31, the fund had a $24 cash…

A: Petty cash or Petty cash fund is a tiny amount of money usable without writing a check to pay…

Q: The December 31, 2022 cash and cash equivalents of La Solar Co. includes the following items: Cash…

A: Note: Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: Grand Company's fiscal year ends on June 30.   Its petty cash fund was established for an amount of…

A: Petty cash fund  P15,000 Payment:   Paid vouchers of office supplies (dated June 28, 2021)…

Q: On September 1, 2020, Walls Company establishes a petty cash fund by issuing a check for $100 to…

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

Q: Ace company provided the following information on December 31,2020: Petty cash fund 50,000 Current…

A: Cash and cash equivalents include cash, bank, petty cash and marketable securities or debt…

Q: On December 31, 2021 Mickey Mouse Corporation's trial balance includes the following accounts: Petty…

A: Cash & Cash Equivalent Cash & Cash equivalent refers to an item that is presented in the…

Q: The Petty Cash Fund of Joy Manufacturing at the end of the fiscal year ended December 31, 2016 is…

A: Correct balance of petty cash = Currencies + Coins

Q: On April 1, 2021, Adobo Co. established a petty cash fund for P80,000 by writing a check drawn…

A: Solution: Amount of replenishment under the imprest fund system = Receipts for office supplies +…

Q: Jungkook Builders Inc. reported petty cash fund which comprised the following: Coins and currencies…

A: Petty cash fund is the small amount of cash kept by the company's accountant in order to meet up the…

Q: BTS Company provided the following information on December 31, 2021: 500,000 20,000 Cash on hand…

A: Cash and cash equivalents refer to the amount held by a business organization in the form of hard…

Q: Abne Company provided the following data for the purpose of reconciling the cash balance per book…

A: Bank Reconciliation is a statement by which a reconciliation of bank’s statement with that of cash…

Q: ABS Company showed the following information available as of December 31,2021 before any adjustments…

A: ABS Company's as of 31.12.2021  Petty cash fund = 29000 Petty cash book fund shows original balance…

Q: On April 1, 2021, CPA Co. established a petty cash fund for P80,000 by writing a check drawn against…

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

Q: Callous Company reported the following accounts on December 31, 2020: Cash on hand Petty cash fund…

A: A journal entry is the first step in recording financial transactions in the books of business…

Q: The December 31,2019 trial balance of Aboitiz Equity Ventures, Inc., includes the following…

A: Step 1  In cash the amount which is available immediate for use or highly liquid in nature is   to…

Q: The following are data of Taehyung Inc.:  The petty cash fund was established on May 2, 2019, in…

A: The journal entry to record the replenishment of and increase in petty cash fund is as under:…

Q: You were able to gather the following from the December 31, 2020 trial balance of PPP COMPANY: Cash…

A: Cash on hand is the amount of accessible cash held by the company. Petty cash fund can be defined as…

Q: The cash account of Ria on December 31,2021 has an balance of P151,000 and it consists of the…

A: Introduction:  The most liquid current assets on a company's balance sheet are cash and cash…

Q: The December 31,2020 trial balance of DDD Company includes the followingaccounts:  Cash on hand…

A: Cash equivalent are the marketable securities in which the business invests for short term investing…

Q: You were able to gather the following from the December 31, 2020 trial balance of PPP COMPANY: Cash…

A: Adjusted balance Adjusted balance refers to the balance which is obtained after making all the…

Q: Sanchez Company reported the following accounts on December 31, 2020: Cash on hand 1,000,000 Petty…

A:

Q: Presented below are transactions of MM Company related to petty cash for the last 2 months of year…

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

Q: Callous Company reported the following accounts on December 31, 2021: Cash on hand Petty cash fund…

A: Cash is money that is easily accessible in the form of currency. Cash equivalents are near-cash…

Q: The petty cash box, upon investigation, showed the following items: bills- P450, coins- P50;…

A: Petty cash fund =  bills +  coins + vouchers for taxi fare + voucher for supplies

Q: A surprise count of the petty cash fund of Jungkook Pharma on July 4, 2020 showed the following:…

A:

Q: The Marnie Department produced the following data for Amy Company as of December 31, 2021:…

A: Cash is the highly liquid asset one can ever have. The items having the second higher liquidity are…

Q: Willard Company established a $440 petty cash fund on September 9, 2020, On September 30, the fund…

A: A record is usually preserved in the general ledger, but it can alternatively be placed into a…

Q: Callous Company reported the following accounts on December 31, 2020: Cash on hand Petty cash fund…

A: These are part of current assets which  are short-term commitments that can be converted into cash…

Q: On April 1, 2021, VKS Co. established a petty cash fund for P80,000 by writing a check drawn against…

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

Q: Mickey Mouse Corporation included the following items in their general ledger account “Cash" which…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: Elegant Company's fiscal year ends on June 30. Its petty cash fund was established for an amount of…

A: Correct amount of petty cash fund at June 30, 2021 = Currencies + Coins + Company check representing…

Q: The petty cash fund of Liwanag Company on December 31, 20XX is composed of the following:…

A: Petty cash or petty cash fund is the amount that is kept in hand by a company or individual for day…

Q: On June 1, 2019, Wadi Nam Furniture Company established a petty cash fund for RO 750. On June 31,…

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

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: The imprest petty cash balance of Jackie Company is P15,000. At December 31, 2021, the petty cash…

A: Correct amount of petty cash fund for financial reporting purposes = Currencies and Coins + Currency…

Q: Penny-Wise Pound-Fool Company established a $400 petty cash fund on September 1, 2021. The fund is…

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

Q: The petty cash fund of Liwanag Company on December 31, 20XX is composed of the following:…

A: A petty cash fund can be described as a fund established by the company to meet small expenses like…

Q: The petty cash fund consisted of the following items as of December 31, 2021: Currency and coins,…

A: It used in expenses like foods, postage stamp ,fare ,food expense etc.

Q: EFG Company established a petty cash fund of P90,000 on December 1, 2021. As of December 31, 2021,…

A: The petty cash fund is established for day to day cash expenses of the business.

Q: Armenia Company reported the following information on December 31, 2020: 1,000,000 Cash on hand…

A: All amounts are in (P).

Q: The December 31,2020 trial balance of DDD Company includes the following accounts: Cash on hand…

A: The term cash and cash equivalents mean the cash the company is having or such assets held by the…

Q: Crown Company established a petty cash fund of $600 for incidental expenditures on January 2 , 2019…

A: Any excess expense for which the invoice is missing goes to cash short and over.

Q: The December 31,2019 trial balance of Aboitiz Equity Ventures, Inc., includes the following…

A: Given: The December 31,2019 trial balance of Aboitiz Equity Ventures, Inc., includes the following…