An account of the petty cash fund showed composition as follows: Coins and currency Paid vouchers Transportation Gasoline Office Supplies Postage Stamps Due from employees Employee's check returned by bank marked "NSF" Check drawn by company to the order of petty cash custodian What is the correct amount of petty cash fund? P900 600 550 350 1,100 P2,500 3,500 1,500 4,500

Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account titles):   Instructions A. On March 1, Check is issued to establish a petty cash fund of $1,175. B. On April 1, the amount of cash in the petty cash fund is now $110. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $665; miscellaneous selling expense, $211; miscellaneous administrative expense, $178. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $1,175, record the discrepancy in the cash short and over account.)

None

Which one of these principles is considered for cash disbursement control Select one: O a. Print check amount by machine O b. Same staff approve and make payment Oc. Reconcile bank statement annually O d. Rarely compare checks to invoices

Which of the following is true of a petty cash voucher? a.It must be issued once in a month by a bank. b.It must explain the purpose of the payment. c.It must only be used to account for payments of more than $5. d.It must be signed only by the person who authorized the payment.

D5.

A petty cash fund was established with a $500 balance. It currently has cash of $35 and petty cash tickets as shown​ below:   Travel expense $105 Office supplies expense 315 Equipment rental expense 45   Which of the following would be the journal entry to replenish the Petty Cash​ account?         A. debit Cash $35​; credit various expenses $35   B. debit various expenses $465​; credit Petty Cash $465   C. debit various expenses $465​; credit Cash $465   D. credit Petty Cash $465​; debit Cash $465

A $126 petty cash fund contains $116 in petty cash receipts, and $7 in currency and coins. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. credit to Cash Short and Over for $3 debit to Cash Short and Over for $3 credit to Cash for $116 credit to Petty Cash for $126

Which of the following journal entries is recorded as a result of the bank reconciliation process to record a NSF check for $250?    A. Cash   250     Accounts Receivable   250    B. Accounts Receivable   250     Petty Cash   250    C. Accounts Receivable   250     Cash   250    D. Cash   250     Accounts Payable   250

Instructions: Prepare a bank reconciliation for Kali Loli from the following checkbook records and bank statement CHECKBOOK Check number 801 802 803 804 805 Date Description fo transaction 44835 H&H Jewelers 44840 Deposit 44842 L.L. Bean 44844 Cashe 44847 Deposit 44847 Four Seasons Hotel 44849 American Express 44854 ATM Withdrawal 44858 Deposit 44861 Deposit 44862 Home-Depot - Debit Card BANK STATEMENT Statement Date: Checking Account Summary: Account Number: Checking Account Transactions Date Amount 44837 44840 44844 44847 44849 44851 44856 44858 44862 44864 BANK RECONCILIATION Check book balance. Amount of payment or withdrawal Amount of deposit or interest Balance Forward 879.36 November 3, 2021 October 1- 31, 2021 449-56-7792 Previous Balance Deposits Number Total Credits ✓ Check Number Total Debits Current Balance → 879.36 3 1954.59 7 1347.83 1486.12 Description 236.77 Check # 801 450.75 Deposit 324.7 Returned item 880.34 EFT payroll deposit 75.89 Check #803 507.82 Check #805…