Prepare the necessary journal entries for each of the following:         (a) On March 1, issued a check to establish a petty cash fund of $1,410         (b) On April 1, the amount of cash in the petty cash fund is $440. Issued a check to replenish the fund, based on the following summary of petty cash receipts: repair expense, $850, and miscellaneous selling expense, $80. Record any missing funds in the cash short and over account.

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A: It is better to prepare Bank Reconciliation Statement to form journal entries.

Q: The following information is available to reconcile Branch Company's book balance of cash with its…

A: BRS is the statement that helps in reconciling the variations involved in the balance as per book…

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

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A: The petty cash fund is maintained by business to provide cash for day to day minor cash transactions…

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Q: The following information is available to reconcile Branch Company’s book balance of cash with its…

A: A journal entry is a summary of a company's financial activities held in its accounting records.

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A: Journal entry - It refers to the process where the business transactions are recorded in the books…

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A: Bank reconciliation is made by the organization for identifying the causes leading to the mismatch…

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A: Bank Reconciliation Statement-: A Bank Reconciliation is a procedure by which the bank account…

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A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

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A: A journal entry is prepared by the company to record the non-economic & economic transactions of…

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A: a. Journal entry to create the petty cash fund:

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A: Petty Cash means A small amount of money kept in an office to pay for small items.

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

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A: Bank reconciliation is a statement prepared for the purpose of reconciling the differences between…

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

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A:

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

Q: Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of…

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

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A: Bank Reconciliation Statement The purpose of preparing the bank reconciliation statement is to know…

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

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

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A: Bank reconciliation is a statement prepared to compare the bank balance and cash book balance. The…

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A: Journal entry - It refers to the process where the business transactions are recorded in the books…

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

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

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

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A: Bank reconciliation statement is the statement which is prepared to reconcile cash balance as per…

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A: The journal entry for issued to establish a petty cash fund as as follows:

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

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A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

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A: Petty cash is the fund which is kept aside for the purpose of reimbursing miscellaneous expenses.

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A: Introduction: A transaction is any financial business event that affects the financial statements of…

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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.