The petty cash fund of $200 for George Company appeared as follows on December 31, 2016: Cash $59.40 Petty cash vouchers Freight in $27.60 Postage 40.00 Balloons for a special occasion 68.00 Instructions 1. Briefly describe when the petty cash fund should be replenished. Because there is cash on hand, is there a need to replenish the fund at year end on December 31? Explain.

Q: Palmona Co. establishes a $200 petty cash fund on January 1. Palmona uses the perpetual system in…

A: As per the accounting equation, all assets have a normal debit balance. It means that when we debit…

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A:

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A: Petty cash fund is a fund maintained by the cashier in an organization to pay the regular…

Q: The petty cash fund of $200 for George Company Q2- appeared as follows on December 31, 2016: Cash…

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

Q: EcoMart establishes a $1,050 petty cash fund on May 2. On May 30, the fund shows $326 in cash along…

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

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: Crunchy Co. established a P3,000 petty cash fund. You found the following items in the fund:  Cash…

A: Cash short or (Over) = petty cash fund - (Cash and currency + Expense vouchers + Advance to salesman…

Q: EcoMart establishes a $1,050 petty cash fund on May 2. On May 30, the fund shows $326 in cash along…

A: Solution:- preparation of journal entries as Follows under:-

Q: In your count of petty cash fund in the morning of January 5, 2022 revealed the following: Bills…

A: Petty cash fund  P10,000 Payment:   Paid vouchers dated Dec 2021 P2,140 Paid vouchers dated…

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A: For the first question the journal entry will debit Cash Short and Over account with RO 48. However…

Q: B. The cash accounts of Ria on December 31,2021 has balance of P151,000 and it consist of the…

A: The cash which is a current asset also includes those treated as a cash equivalent in its balance.…

Q: On November 2, 2010 Resort established a petty cash fund of RO On November 31, 2018, the amount…

A: Answer: As we can see in the question that the opening balance in petty cash fund was RO 750 and the…

Q: Petty Cash Fund Kingery Inc. maintains a balance of $3,000 in its petty cash fund for routine…

A: Petty cash: Petty cash is also called an imprest cash account. The accountant or cashier of an…

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: A petty cash fund was originally established with a cheque for $150. On December 31, you find the…

A: Introduction:- petty cash fund is used to pay for small expenses for everyday. Examples:- postage…

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: petty cash fund

A: Petty cash fund means the fund created out of cash designated to meet the daily needs of business.

Q: EcoMart establishes a $2,000 petty cash fund on May 2. On May 30, the fund shows $840 in cash along…

A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…

Q: 38. Tier Company established a petty cash fund of P10,000 on July 1, 2021. At the end of the month,…

A: opening balance=10000 Closing balance=3557.4

Q: Willard Company established a $400 petty cash fund on September 9, 2020. On September 30, the fund…

A: Established  petty  cash = 400 Petty cash  debit  400

Q: On September 1, 2020, Walls Company establishes a petty cash fund by issuing a check for $100 to…

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

Q: Waupaca company establishes a $350 petty cash fund on September 9. On September 30, The phone shows…

A:

Q: Willard Company established a $330 petty cash fund on September 9, 2020. On September 30, the fund…

A: A journal entry is a document of a business arrangement in the accounting system of a company.…

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: A petty cash fund was originally established witha cheque for $150. On December 31, you find the…

A: PETTY CASH ARE SMALL AMOUNT OF FUNDS IN THE FORM OF CASH USED FOR MAKING OUT EXPENSITURE WHERE IT IS…

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: In your count of petty cash fund in the morning of January 5, 2022 revealed the following: Bills…

A: Particulars Amount Petty cash fund P10,000 Less:   Bills and coins P3,560 Paid vouchers…

Q: A surprise count of the petty cash fund of Jungkook Pharma on July 4, 2020 showed the following:…

A:

Q: A petty cash fund of 50,000 comprised of the following on June 30, 2021, the company's year- end…

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

Q: he petty cash fund of $200 for George Company appeared as follows on December 31, 2020: Cash…

A: Petty cash expenses include all those expenses which are very small amount like, $50 to $200 office…

Q: Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in…

A: The question is multiple choice question. Required  Choose the Correct Option.

Q: Cactus Restoration Company completed the following selected transactions during May 2016: Oct. 1.…

A: Petty cash: Petty cash fund is eastiblished to pay insignifinant amount small expenses like office…

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A: Petty cash fund is a fund maintained by the cashier of an organization for routine/miscellaneous…

Q: Henry Company had the following account balances on December 31, 2015. Petty cash fund P50,000 Cash…

A: Cash equivalents are easily convertible in cash.

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

A: Solution: Total petty cash receipts = P741.90 + P880 +P900 + P1,421.40 + P837.60 = P4,780.90…

Q: On June 1, 2019, Wadi Nam Furniture Company established a petty cash fund for RO 750. On June 31,…

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

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A: Date Account Titles and Explanation Debit Credit   Postage expense RO 150…

Q: Penny-Wise Pound-Fool Company established a $400 petty cash fund on September 1, 2021. The fund is…

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

Q: Lang Company completed the following petty cash transactions during April 2022 Date Receipt # For…

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

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A: Petty cash fund is a fund maintained by the cashier of an organization to pay the small and…

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A: Date Account Titles and Explanation Debit Credit June 1, 2019 Petty cash RO 750…

Q: Cameron Co. established a $182 petty cash fund on January 1, 2020. One week later, on January 8, the…

A: Petty Cash Fund: It is common for small businesses to keep a modest amount of money on hand (for…

Q: The petty cash fund of $200 for Ginther Company appeared as follows on December 31, 2014:   Cash…

A: Here we can find cash shortage  in petty  cash ,so it needs to replenished

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A:

Q: Loucks Company established a $200 petty cash fund on October 2, 2018. The fund is replenished at the…

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

Q: The petty cash fund of $200 for George Company appeared as follows on December 31, 2016: Cash $59.40…

A: Petty cash or the petty cash fund refers to the small amount of cash on hand  which is particularly…

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.