The debit recorded in the journal to reimburse the petty cash fund is to Oa. Petty Cash Оb. Сash Oc. various accounts for which the petty cash was disbursed Od. Accounts Receivable

Q: On July 1, check No. 12-375 is issued to establish a petty cash fund of $1,125. B. The amount of…

A: Journal entry       date explanation debit credit 1-Jul petty cash 1125…

Q: Petty cash fund entries Journalize the entries to record the following: a. Check No. 12-375 is…

A: Petty cash fund is the fund created by the entity to fund set out from the cash balance to bear the…

Q: The type of account and normal balance of Petty Cash is a(n) Select one: A. asset, debit B.…

A: Current option is A i.e. asset, debit

Q: An NSF check returned by the bank should be entered in the depositor's accounting  records by a…

A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…

Q: Journalize the entries to record the following: a. Check is issued to establish a petty cash fund of…

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

Q: The entry to establish a petty cash fund includes: O A. O B. A debit to Cash and a credit to Cash…

A: Petty cash is termed as the small cash amount which is kept on the premises of the company in order…

Q: Entries are made to the petty cash account when Select one: A. establishing the fund B. recording…

A: Petty Cash is cash fund in the company to pay a small sum of money. It is needed in a company…

Q: Identify each of the following reconciling items as part of the cash reconciling process as: (A)…

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

Q: The journal entry to record the issuance of the initial check to establish a petty cash fund of $750…

A: Petty cash: Petty cash fund is eastiblished to pay small amount expenses. Office supplies, postage…

Q: Journalize the entries to record the following: Check No. 245-13 is issued to establish a petty…

A: a. Journalize the entry to establish the petty cash fund. No. Particulars Debit Credit   Petty…

Q: Petty Cash Fund Prepare journal entries for each of the following: a. Issued a check to establish a…

A: A petty cash fund account is maintained by an organization and different departments of the…

Q: A minimum cash balance required by a bank is called a.a compensating balance b.an EFT c.cash in…

A: Minimum cash balance : Customers of bank need to maintain minimum balance on their accounts. Minimum…

Q: Identify each of the following reconciling items as: (a) an addition to the cash balance according…

A:

Q: Journalize the entries to record the following:a. Check is issued to establish a petty cash fund of…

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

Q: The journal entries for a bank reconciliation . are taken from the "balance per bank" section only.…

A: A bank reconciliation is a statement that is prepared to match the bank balance as per the books of…

Q: Petty Cash Fund Prepare journal entries for each of the following. For a compound transaction, if an…

A: a. Record entry to issue petty cash fund as shown below:

Q: Which of the following is issued by a company to the responsible staff in order to establish a petty…

A: The petty cash fund is established for daily basis small cash expenses of the business.

Q: Petty Cash Fund Prepare journal entries for each of the following. For a compound transaction, if an…

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

Q: A company established a petty cash fund for minor day-to-day expenses. Following are activities…

A: The petty cash balance is maintained by business for day to day cash transactions.

Q: State the reasons of the following statement:  The balance in the cash column of the cash book is…

A: a.   Cash column of cash book will always show debit balance because cash payment can never exceed…

Q: In the bank reconciliation the collection of Note Receivable is Select one: a. Deducted from Cash…

A: Accounting is the process of recording financial transactions that are material to the business. It…

Q: pare Journal Entry to establish Petty Cash Fund

A: Meaning of Petty Cash book: It is the subsidiary book of main cash book where all the small day to…

Q: Journalize the entries to record the following: Required: a. On March 1, check is issued to…

A: Petty cash funds are those funds which are maintained for small petty expenses of the business.…

Q: The actual cash receivec from cash sales was 914 amount indicated by the cash register total was $…

A: A journal entry is a record of a business' financial transactions that is preserved in its…

Q: Using the following information related to Lo-Sag Constructions find out the Bank Balance as per…

A: A bank reconciliation statement is a statement prepared by the entity to compare the balance of the…

Q: Journalize the entry to replenish the petty cash fund. If an amount box does not require an entry,…

A: Step 1 Journal is the part of the book keeping.

Q: Prepare journal entries for each of the following:a. Issued a check to establish a petty cash fund…

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

Q: Which of the following items should be included in the Cash? O A. O B. Postdated checks and I.O.U.'s…

A: Cash and Cash equivalents are coins ,notes bill, cash at bank and any marketable security that can…

Q: A company established a petty cash fund for minor day-to-day expenses. Following are activities…

A: SOLUTION- A PETTY CASH IS THE SMALL AMOUNT OF CASH ON HAND MAINTAINED BY COMPANIES TO PAY THE SMALL…

Q: If a petty cash fund is established in the amount of $348 and contains $200 in cash and $134 in…

A: JOURNAL ENTRY FOR REPLENISHMENT :  PARTICULARS DEBIT CREDIT SUNDRY EXPENSE $134   CASH…

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

A: Journal entries are recording of the transaction in the accounting journal in a chronological order.…

Q: Prepare the necessary journal entries for each of the following:         (a) On March 1, issued a…

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

Q: Petty Cash Fund Entries Journalize the entries to record the following: a. Check No. 12-375 is…

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

Q: - transportation, P600 - gasoline, P400 - office supplies, P500

A: A petty cash fund is a small amount of corporate cash that is usually maintained on hand (for…

Q: 1. Prepare the journal entry to establish the petty cash fund.

A: Journal Entries are as follows:

Q: at the time of replenishment, why are the totals of individual expenses debited? explain the…

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

Q: Journalize the entries to record the following: June 1   Established a petty cash fund of $200.…

A: Journal Entry It is used to record the business transactions in an accounting systems.

Q: On March 20, Concord's petty cash fund of $119 is replenished when the fund contains $6 in cash and…

A: Balance of available cash and the total expenses goes to Cash over and short Account.

Q: All of the following is included in the "cash and cash equivalent", except: O A. Certified checks…

A: Solution: Cash and cash equivalents are cash and assets and securities that readily convertible into…

Q: Prepare journal entries for each of the following: a.  Issued a check to establish a petty cash…

A: Journal entries refers to the process of systematic documentation of the financial transactions of a…

Q: a) Prepare the journal entries to establish the petty cash fund on March 5. b) Prepare the journal…

A: (a) Journal entries to establish the petty cash fund on March 5. March 5 Petty Cash $250.00…

Q: A company established a petty cash fund for minor day-to-day expenses. Following are activities…

A: Introduction:- For minor day-to-day needs, a corporation established a petty cash pool. This fund's…

Q: Under the imprest system, which amount the following situations when accounting entry is/are made?

A: Petty cash fund under the Imprest system does not record any entries unless the account is being…

Q: Which of the following states the entries required to account for a reimbursement to the petty cash…

A: Journal is a primary book where transactions are originally recorded. Further, a journal entry is…

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

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

Q: Identify each of the following reconciling items as: (a) an addition to the cash balance according…

A: 1. The tranasctions have been identified as follows

Q: The debit recorded in the journal to reimburse the petty cash fund is to Select one: A. Cash B.…

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

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.