Indicate (Yes or No) whether each of the following is properly included in Cash and CashEquivalents._______ 1. $10,000 of government Treasury bills purchased 10 days prior to their maturity._______ 2. $50,000 of government Treasury bills purchased to satisfy a legal requirement to setaside funds for a landfill cleanup._______ 3. $10,000 of cash owed by customers on sales made within 20 days of year-end._______ 4. $1,000 of cash in the petty cash custodian’s locked cash box.

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

A:

Q: Related data of Jamaica Company on December 31, 2020:                               Petty cash fund…

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

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: Additional information: a.      Included in the cash account are the following: compensating cash…

A: Current assets refer to those resources of a company that can be easily converted into cash.

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

A: >Petty Cash fund is created out of cash account to pay off certain small and petty amounts of…

Q: 2. If HHC has $1,100 cash, $400 of government Treasury bills purchased four months ago, and $770 of…

A: Cash and Cash equivalents Cash and cash equivalents refer to those items that are either in the form…

Q: Al-Yahya Enterprise has established a petty cash fund for its small expenditures. The following…

A: The journal entries are prepared to keep the record of day to day transactions of the business. The…

Q: On 1 September 2018, Desa Utara established a petty cash fund of RM900. At the end of the month the…

A: The petty cash fund is created for day to day cash transactions of the business.

Q: The following cash advances were given to officers and employees of The DA- CAR: Advances for…

A: Solution-   Transaction No 1Accounts Debit Credit 1. Account Receivables 25,600…

Q: 2. If HHC has $1,900 cash, $500 of government Treasury bills purchased four months ago, $930 of cash…

A: Calculate the amount of "Cash and Cash Equivalents" to be reported by the company on its 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: Tier Company established a petty cash fund of P10,000 on July 1, 2021. At the end of the month, the…

A: Total expenses =  Office supplies + Postage +Representation +Transportation +Miscellaneous  =…

Q: Tier Company established a petty cash fund of P10,000 on July 1, 2021. At the end of the month, the…

A: The petty cash book is prepared for day to day small cash transactions of the business.

Q: 1. Brooks Agency set up a petty cash fund for $230. At the end of the current period, the fund…

A: Given: Petty Cash fund:$230 Entertainment Expense:$42 Postage :$29 Printing:$27

Q: ABC Company had the following items being considered as cash and cash equivalents on December 31,…

A: Cash and Cash Equivalent refers to liquid and current asset which may consist of several items like…

Q: Cheyenne Company established a petty cash fund on May 1, cashing a check for $115. The company…

A: Petty cash account is debited if the established a petty cash fund or increases the a petty cash…

Q: 1. Brooks Agency set up a petty cash fund for $260. At the end of the current period, the fund…

A: The petty cash fund is used for different small expenses and is replenished every month. it helps to…

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: Define current assets. What basis is used for arranging individual items within the current assets…

A: Solution:- Current assets meaning:- A current asset is an asset that a company holds and can be…

Q: You are assigned to the petty cash count for the KURDAPIA COMPANY at December 31, 2021. The contents…

A: Petty cash fund refers to the fund which is used for paying off the little or small expenses of the…

Q: 28. On April 2020, Grapes Company established an imprest petty cash fund for P20,000 by writing a…

A: The petty cash fund is established to pay small and regular expenses of the business.

Q: On December 1, 2020, Kyle Corporation established a petty cash fund of P4,000. On December 31, 2020,…

A: Cash short and over = Receipts and documents for miscellaneous expenses + additional cash -opening…

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: Willard Company established a $500 petty cash fund on September 9, 2020. On September 30, the fund…

A: Petty cash refers to the small amount of cash maintained by cashier of company in order to meet…

Q: Part 1. 1. If HHC has \$1,450 cash$500 of government Treasury bills purchased four months ago, $840…

A: The petty cash fund is created by the company to meet the small expenses or the daily expenses of…

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: The BOD of Nancy Inc. authorized the set-up of petty cash fund on December 1, 2020, with an Imprest…

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

Q: Determine the amount of Cash and Cash equivalents. * 60,000 Undeposited Collections Cash in Bank-…

A: Cash & Cash Equivalent: Cash and cash equivalents are  liquid current assets and include…

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: 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: n addition to receipts for the above items, the petty cash box contained P10 in coins and an IOU of…

A: Preparation of Petty Cash Book

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: Tower  Corporation is in the process of preparing the corporation’s financial statements for the…

A: The Cash Flows statement shows the cash inflows and cash outflows of the organization. Noncash…

Q: On April 2, Granger Sales decides to establish a $280 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: 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: 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: On August 3, Sonar Sales decides to establish a $275 petty cash fund to relieve the burden on…

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 following information were taken from Bach Co.: Bach established a petty cash fund on May 2,…

A: Petty Cash - It refers to the amount of money which are keeps on hand for small outflows into the…

Q: Skysong Company established a petty cash fund on May 1 for $100. The company reimbursed the fund on…

A: On establishment of petty cash fund the cash will go to petty cash fund.

Q: ABC Company established a petty cash fund for small expenses of the offices of the main building…

A: Petty Cash refers to the cash that is kept aside for day-to-day expenses and has a small amount.

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

A: Here in this question, we are required to find out shortage or overage in the petty cash fund at…

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: 2021 June 1- A petty cash of P10,000 was established. 5- Disbursements were: Supplies Transportation…

A: The journal entries for the above question is attached in the next step:-

Q: Retusto Company closed the accounts on June 30. The entity provided the following transactions: May…

A: Imprest Fund system is one the major aspects in petty cash terms of accounting as it basically gives…

Q: The petty cash fund was established on April 10, 2020, in the amount of $300. These are the…

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

Q: Raffy Tulfo In Action (RTIA) appointed Shelwyn as its petty cash custodian. As at December 31, 2020,…

A: Petty cash is the fund of cash which includes the payments and receipts of minor expenses to be made…

Q: Beginning January 2022, small expenditures. The following transactions took place during the month:…

A: The petty cash fund is established to maintain the cash balance for smaller cash transactions of 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: I have completed everything except for the unrestricted amounts. I can't seem to figure those out.…

A: Statement of Net Position: The statement of net position presents the monetary place of the…