Petty cash fund had an opening balance of RO 300. During the month the receipts were RO 70 staff welfare, RO 75 petrol, 80 office stationery, and 45 travelling and there was RO 20 left in the petty cash box. If the petty cash fund is raised to RO 500 per month then how much is the amount required to be refill? a. RO 470 b. RO 280 c. RO 380 d. RO 480

Q: At the end of the day, the cash register tape lists $1,021.18 as total income from services. Cash on…

A:

Q: Lori's Company has the following items: cash in a checking account, $2,000; cash in a savings…

A: Solution We are provided with the following information Cash in checking account = $ 2,000 Cash in…

Q: You oversee the $250 petty cash for your company. When an employee needs a special item that is not…

A: Without a doubt, this is an issue, regardless of, if its the first run through or a 100th time.

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: 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: Stephanie Jo Company established a petty cash fund of $300 on May 1. At the end of the month, the…

A: Any shortfall in cash or petty cash account shall be charged to P/L.

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

A: Introduction Journal entries is the modern method of recording of a business transactions in a…

Q: Spencer Co. has a $430 petty cash fund. At the end of the first month the accumulated receipts…

A: Journal entry: It can be defined as the recording of financial events and transactions that have…

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: Ignatius operates the imprest system for petty cash. At 1 July there was a float of $150, but it was…

A: Total cash available=Float 1 july+Received from staff+Cheque drawn=$150+$25+$500=$675

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: Dante Manufacturing has a cash balance of P8,000 on August 1 of the current year. The company’s…

A: solution given                        Purchases      SalesJanuary          P 142,000     P…

Q: Record the establishment of the petty cash fund on August 3.  On August 31, record the petty cash…

A: Petty Cash: It is the fund which is kept in hand by business units to cover minor expenses (postage,…

Q: Cash Short and Over Entries Listed below are the weekly cash register tape amounts for service fees…

A: Journal entries form the basis for other accounting tasks such as ledger account preparation, trial…

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 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: 1) While looking through the invoices, you found Invoices 23-57, 60-95, and 99-110. It appears that…

A: Introduction: An invoice is a document sent by a seller to a customer in order to collect payment.…

Q: ABC Office Suppliers keeps a $100 change fund in its cash register. The cash sales per the cash…

A: Cash over balance/excess balance = Total cash count - cash sales as per cash register - cash balance…

Q: The following documentation was found in Vector Enterprises's petty cash box, for the month of…

A: Company need to replenish the petty cash fund at the end of the accounting period or when the…

Q: At the end of the day, the cash register tape shows $1,380 in cash sales but the count of cash in…

A: Introduction: Journals: Recording of a business transactions in a chronological order. Each and…

Q: Roper Electronics received its bank statement for the month of August with an ending balance of…

A: Bank Reconciliation Statement: This is a statement which is prepared to reconcile the bank balance…

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: Halle's Berry Farm establishes a $400 petty cash fund on September 4 to pay for minor cash…

A: Petty cash expenses are used to record small business expenditure by separately setting up a petty…

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: On Jan. 14, the petty cash fund needed replenishment, and the following are the receipts: Auto…

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: Cash Short and Over Entries Listed below are the weekly cash register tape amounts for service fees…

A: Cash: It is the essential part of the every business, because in the business when its established…

Q: On September 30, Hector’s petty cash fund of $100 is replenished. At the time, the cash box…

A: Companies replenish the petty cash fund at the end of the accounting period, or sooner if it becomes…

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: Omicron Ltd. has a petty cash fund for $2,750 when established. When financial statements are…

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

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: osita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable…

A: Calculation of Number of checks May: Number of checks in May = Credit sales of May/ Average amount…

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: A petty cash book has an imprest amount of $100 which is restored on the last day of each month.…

A: Petty cash book is the cashbook maintained for small petty expenses incurred in the business. All…

Q: Lor's Company has the following items: cash in a checking account, $4,000; cash in a savings…

A: Cash and cash equivalents = Cash in checking account + Cash in saving account + government security…

Q: At the end of the day, the cash register tape shows $1,360 in cash sales, but the count of cash in…

A: Count of cash in the register is debited and the sales are credit. The difference is transferred to…

Q: Please help

A: 1.Prepare journal entry to record the establishment of the petty cash fund on September 4.

Q: ABC co established a Petty cash fund with RO 1000 and appointed  Mr. Ahmed as custodian. At the end…

A: Given that: Petty cash fund balance = RO 1000 Receipts for postage = RO 250 Office supplies = RO 256…

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: 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: 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: At the end of the day, the cash register tape shows $1,360 in cash sales, but the count of cash in…

A: Introduction: Journals: Recording of a business transactions in a chronological order. Each and…

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.