Record the following transactions:   Started a petty cash fund in the amount of $1,000. Replenished petty cash fund using the following expenses: Auto $61, Office Expenses $23, Postage Expense $57, Miscellaneous Expenses $30. The company has decided to reduce the petty cash fund to $600.

Q: Consider the following events: 1. A petty cash fund of $75 was established on April 1, Year 1. 2.…

A: Petty Cash Fund - It is kind of small of cash funds kept on hand to pay for mirror expenses which…

Q: On July 1, 2014, Acting Company established an imprest (petty Cash) fund in the amount of $800.00 in…

A: Imprest (Petty Cash) System is an accounting system that is created for tracking and documenting how…

Q: 1. Record the following transactions: Started a petty cash fund in the amount of $300. Replenished…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

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: A. Started a petty cash fund in the amount of $450. B. Replenished petty cash fund using the…

A: Sno. Account Titles and Explanation  Debit   Credit  A Petty Cash  $       450     Cash    $…

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: 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: A. Started a petty cash fund in the amount of $450. B. Replenished petty cash fund using the…

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

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: On April 1, Java Brewers created a petty cash fund starting with $100. On April 30, there was only…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: A. Started a petty cash fund in the amount of $400. B. Replenished petty cash fund using the…

A: Petty Cash - it is basically a loan from treasury management. Petty cash is day to day expenses that…

Q: Prepare journal entries for the following transactions, using the following accounts as needed:…

A:

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: During March, Anderson Company engaged in the following transactions involving its petty cash fund:…

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

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: 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: A. Started a petty cash fund in the amount of $400. B. Replenished petty cash fund using the…

A: Petty cash fund is a fund setup in organisation that is meant for only small or petty expenses.

Q: Started a petty cash fund in the amount of $250. B. Replenished petty cash fund using the following…

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

Q: Bonita Company established a $110 petty cash fund on August 1. On August 31, the fund had $14 cash…

A: Journal entry is the process of recording the business transactions in the books of accounts for the…

Q: A. Started a petty cash fund in the amount of $300. B. Replenished petty cash fund using the…

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

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: 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: Awy Company has a petty cash fund for small expenses. The following transactions occurred over a…

A: Petty cash is a nominal amount that is readily accessible for paying expenses too small by writing a…

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: On September 1, French company has decided to initiate a petty cash fund in the amount of $800. A.…

A: Petty Cash Fund: At times, every business finds it convenient to have small amounts of cash…

Q: C Co established a petty cash fund of P40,000. Fund disbursements during the period was P27,363. The…

A: In the given question, total cash disbursements from the petty cash fund during the period was P…

Q: On September 1, French company has decided to initiate a petty cash fund in the amount of $800.…

A: Petty cash fund is created by the business in which little amount of cash is placed so as to meet…

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: Present entries to record the following transactions:                 (a) Established a petty cash…

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

Q: Record the following transactions: A. Started a petty cash fund in the amount of $ 1,500. B.…

A: Introduction: Internal controls are rules and processes that a company implements to achieve…

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

A: A journal is a book in which a business records its transaction according to chronological order. A…

Q: petty cash fund

A: Petty cash fund is a small fund made of cash to meet the routine expenses of business.

Q: On September 1, French company has decided to initiate a petty cash fund in the amount of $850. A.…

A: Petty cash funds are those funds which are established and maintained for small petty expenses in…

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: Started a petty cash fund in the amount of $1,000. b. Replenished petty cash fund using the…

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

Q: A. Started a petty cash fund in the amount of $250. B. Replenished petty cash fund using the…

A: Petty cash funds are those funds which are maintained or established for small petty expenses in 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: 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: 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: Superior Cabinets maintains a petty cash fund for minor business expenditures. The petty…

A: Requirement 1: The journal entries are as follows:

Q: What is the journal entry to replenish the petty cash fund if expenses were Auto Expense $75, Office…

A: Petty cash is the money that a entity keeps on hand to make small payments, purchases, and…

Q: F. Hai – Co is reviewing the cash accounting for Hei – Co. Hai – Co's review will focus on the petty…

A: Decrease in cash balance = Petty cash fund - Available cash and coins

Q: Suppose that on June 1, Cool Gyrations l, a disc jockey service, create a a petty cash with an…

A: Petty cash: Petty cash fund is established to pay insignificant amount small expenses like office…

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: Admirable Company had a petty cash fund which included the following details: Coins and currency…

A: Petty cash fund: It is a small fund which is made for the payment of small expenses and firm…

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.