The type of account and normal balance of Petty Cash is a(n) Select one: A. asset, debit B. revenue, credit C. liability, credit D. expense, debit

Q: When cash is drawn from bank for business use the entry type will be? Select one: a. Contra entry b.…

A: a. Contra Entry - These are the transactions that involves  cash and bank account. b. Compound Entry…

Q: The cash account in the company's ledger is a(n) a.liability with a normal credit balance…

A: All expenses have a debit balance and income have a credit balance. All assets such as cash,…

Q: Which of the following does not appea in a statement of cash flows? * O Cash sales O Credit sales…

A: The cash flows statement shows the cash inflows and outflows during the year from operating,…

Q: What is the normal balance of cash? Group of answer choices This is an ambiguous question debit…

A: Cash is a legal tender that can be used easily to buy something. It is the most liquid asset in the…

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: The time between cash disbursement and cash collection is which of the following? A- accounts…

A: Solution-              The cash to cash cycle is the fundamental quantity between once a business…

Q: A financial statement that provides a reconciliation of opening and closing 'cash', including cash…

A: Statement of cash flows: It is a financial statement that shows the increase or decrease in the cash…

Q: When a petty cash fund is first established and reimbursed, the journal entries to record the…

A: when Petty cash Fund is First Establish the journal entry is   Petty cash A/c Dr.          To Cash…

Q: The entry to record collection of trade receivables under cash basis of accounting is*   debit to…

A: Following is the answer to the given question

Q: Add any values according to you   petty cash  statement

A: Petty cash statement is the statement in which all the expenses which are related to it and which…

Q: Pixel Copies recorded a cash collection on account by debiting Cash and crediting Accounts Payable.…

A: Trial balance: Trial balance is a summary of all the ledger accounts balances presented in a tabular…

Q: In which voucher from the accounting documents the money entering the cash of the business A)…

A: Accounting Voucher: These are used to record all account related transactions. They are of 2 types:…

Q: When the amount of cash in the cash register exceeds the amount in the cash register tapes, the…

A: Cash Over and Short account is used to record the discrepancy between firms' reported sales figures…

Q: Which of the following is recorded in the cash receipts journal?

A: Answer:   Option C

Q: If a journal entry includes a debit or credit to the Cash account, it is most likely which of the…

A: Answer:  If a journal entry includes a debit or credit to the Cash account, it is most likely an…

Q: The Debit balance of cash book indicates? Select one: a. Net income b. Cash in hand c. Difference…

A: The cash balance increase is treated as debited and cash balance decrease is treated as credited in…

Q: The cash receipts journal is used to record all transactions that include a debit to the Cash…

A: A cash account is a trading account that mandates the account holder to pay for all securities…

Q: Which of the following is a method to generate cash from accounts receivable? a. Assignment b.…

A: Assignment of accounts receivable refers to the process where the account receivables are assigned…

Q: Required Identify whlch of the following Items are added to or subtracted from the unadjusted book…

A: Bank Reconciliation: It is a statement to reconcile the balances as per the bank statements provided…

Q: A cash book is used to record

A: A cash book contains all cash receipts and payments transactions in detail, including bank deposits…

Q: To establish a petty cash fund, which account is debited

A: The petty cash fund is the fund maintained by the company in order to pay for the small expenses of…

Q: The cash account in the company's ledger is a(n) Oa. liability with a normal debit balance Ob. asset…

A: Cash account: Cash account is a account in which all the transaction occured in cash are recorded…

Q: Which of the following is a true statement about petty cash account? a. It is a current liability…

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Q: Required Identify whlch of the followIng Items are added to or subtracted from the unadjusted bank…

A: Explanation Bank Service charge It already appears on the bank Statement Outstanding…

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: When cash is debited, a typical credit is to O Accounts receivable Withdrawals O Expenses O Accounts…

A: "We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: When posting the column totals of a cash payments journal, a debit should be posted to a.Unearned…

A: answer  c    Account  Payable is right answer.

Q: How do you calculate an overstatement or understatement of cash recorded? *     A. recorded amount

A: Overstatement or understatement of cash recorded refers to a situation where amount recorded is more…

Q: The cash account in the company's ledger is a(n) a. liability with a normal debit balance b. asset…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Identify the two events from the following that cause a Petty Cash account to be credited in a…

A:

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: When a petty cash fund is used, which of the following is true? A. Entries that include a credit to…

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

Q: Explain and answer the following questions below: 1. Explain the measurement of accounts receivable.…

A: Note: As per Bartleby guidelines,I am supposed to answer only the first question because these…

Q: Which of the following is most likely to appear in the operating section of a cash fl ow statement…

A: Cash flows statements are financial statements which provides information about the cash inflows…

Q: When the petty cash fund is replenished:   Multiple Choice   Cash is debited.   Petty Cash is…

A: Petty cash is the amount set aside for small day to day expenses. Every once in a while, it is…

Q: Where are cash equivalents disclosed in the financial statements?The _____________ account on the…

A: The Cash account on the balance sheet. Option B. is correct answer.

Q: 9 - Which of the following should be done if there is a shortage of cash and the reason cannot be…

A: 1.As cash deficit is loss, it shall be debited to account related to equity. 2.Code 300-399…

Q: Evaluate the following statements Statement 1: Under the punctuating system of petty cash…

A: Cash and cash equivalents is one of the items recorded as a current asset in the balance sheet of an…

Q: What Petty Cash involves, choose the best answer: Select one: O a. Borrow the fund, making payment…

A: Petty cash, also known as the petty cash reserve, is a small sum of cash on hand that is used to pay…

Q: Which of the following statements is false with regard to a Cash Receipts Journal?:   All receipts…

A: Step 1 Cash receipts journal is the book where all the cash receipts are recorded whatsoever source…

Q: ME8 Which of the following entries for goods sold by cash is correct? a) Cash Dr, AR Cr b) AR Dr,…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: multiple choice question  Which of the following statements is false with regard to a Cash Receipts…

A: Cash receipt journal: It can be defined as a specialized accounting journal that is maintained by…

Q: 6. Indicate whichjoumal would be used to record the following transactions. Select from the…

A: Sales Journal – For all credit sales of inventory Purchase Journal – For all credit purchase of…

Q: All reconciling items are used to determine the adjusted cash balance per books require the account…

A:

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.