EB2.  LO 8.5Record the following transactions: Started a petty cash fund in the amount of $260. Replenished petty cash fund using the following expenses: Auto $15, Office Expenses $20, Postage Expense $81, Miscellaneous Expenses $104. Cash on hand is $37. Increased petty cash by $80.

Q: On April 2, Granger Sales decides to establish a $290 petty cash fund to relieve the burden on…

A: Petty cash is a small quantity of money kept on hand to handle minor costs including repayments or…

Q: A $77 petty cash fund has petty cash on hand of $20 and receipts of $48. The journal entry to…

A: The petty cash fund is established to maintain a separate account for daily expenses so that the…

Q: Journalize the entries to record the following: Apr. 1 Established a petty cash fund of $350. 10…

A: Journal: Recording of a business transactions in a chronological order.

Q: A business operates an imprest system for petty cash. The imprest amount is $400. At the end of the…

A: We have the following information: Imprest Amount: $400 Private Phone Calls: $30 Vouchers…

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: Record the following transactions: • Started a petty cash fund in the amount of $400. DR [ Select ]…

A: Petty Cash Fund: The cash fund that is used to pay small expenditures in business. That is called a…

Q: PA1. On September 1, French company has decided to initiate a petty cash fund in the amount of $800.…

A: Petty cash is a fixed amount set aside to meet day to day expense of small values. Petty cash fund…

Q: Please record the following transactions: Jan 4 Established a petty cash fund in the amount of $80…

A: Petty Cash - Petty Cash is a fund maintained by the organization to make payments for petty…

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: Consider Chandler's incomplete deposit slip: How much cash did Chandler receive? A.$70.00 b. $106.00…

A: Here, Cash is 35.00 Check 1 is 67.45 Check 2 is 73.55 Total is 70

Q: Q. 14 A check register shows a balance of $391.63 before adding a deposit of $12.33 and writing…

A: The amount of money that a business has on hand or in its bank account at any given time is referred…

Q: 2 POINTS Problem: Cash Over (Short) JWU Bookstore has one cash register. On a recent day, the cash…

A: S.no Particulars Amount in Dr. Amount in Cr. 1. Cash A/c     To Sales A/c (Being Sales recorded)…

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: The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The…

A: A bank reconciliation statement is a summary of cash balance as per Bank and as per Books that…

Q: Assume that the custodian of a $465 petty cash fund has $67.50 in coins and currency plus $391.50 in…

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

Q: 9. A petty cash fund was originally established with a check for $200. On August 31, which is the…

A: The journal entries are prepared to record the transactions on a regular basis. The petty cash fund…

Q: On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto…

A: Conceptual base - Petty cash is the small amount of cash kept on hand for small cash payments and…

Q: Only D and E please

A: Petty cash is a cash which is used for the payment of day to day expenses.

Q: Calculate the ending reconciled cash balance using the following information: Ending Cash per Bank…

A: A bank reconciliation statement is a summary of cash balance as per Bank and as per Books that…

Q: Record the following transactions: A Started a petty cash fund in the amount of $575 & Replenished…

A: Petty cash fund-A petty cash fund is maintained to meet the petty business expenses.It is cash…

Q: Jan Co, established a petty cash fund The following transactions occurred in January 2022:…

A: Petty cash book is a book used to record petty cash expenditures like postage, stationary, repairs,…

Q: Beginning and ending accounts receivable are $76,000 and $42,000, respectively. Sales for the period…

A: The credit sales are the sales for which cash will be collected in the near future. The account…

Q: A company's bank statement balance is $3,500 and shows a service charge of $24, interest earned of…

A: Answer:-  Bank reconciliation:- An entity's bank account balance in its books of accounts is…

Q: f the Agency approves the establishment of a P30,000 petty cash fund. Here are the following…

A: Petty cash fund is the fund created wherein small amount of cash is transferred and ownership of…

Q: Help

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

Q: $162 petty cash fund has cash of $37 and receipts of $124. The journal entry to replenish the…

A: The petty cash account is used for payouts small incidental expenses such as utility expenses,…

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: A petty cash fund, established with a $300 balance, had petty cash receipts (tickets/vouchers)…

A: Petty cash is used for a variety of little costs; receipts are gathered and transactions are…

Q: Q.2 ABC Co. reports the following information concerning cash balances and cash trausactions for the…

A: Bank Reconciliation Statement A bank reconciliation statement is a statement prepared by the…

Q: Zeta Co. established a petty cash fund. The following transactions occurred in January 2023: Jan. 2…

A: Petty cash fund is established to meet the daily small expenses of a business. Petty cash fund is…

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

A: Transaction  General Journal   Debit   Credit  A.  Petty Cash  $250                Cash    $250…

Q: Record the following transactions: Started a petty cash fund in the amount of $300. and CR [Select]…

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

Q: Prepare the journal entries to record the petty cash transactions: Mar 1     Established a petty…

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

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: BE7.8 (LO 3) AP Video On March 2, Pugh Company established a petty cash fund of $100. On March 27 ,…

A: Petty cash fund is that fund which is established for small petty expenses. Imprest system is…

Q: On July 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare…

A: Petty cash is a cash account available for paying the daily small amount of transactions.

Q: None

A: Petty cash is a small amount of cash kept on hand for minor expenses like office supplies or travel…

Q: A $142 petty cash fund has cash of $22 and receipts of $126. The journal entry to replenish the…

A: Petty cash is the fund which is kept by the entity with the cashier so as to pay off the petty…

Q: ABC Company starts a petty cash fund with $200 and then they spent $50 on office supplies. A)…

A: Almost all businesses find themselves having to pay tiny sums for various expenditures including cab…

Q: PA2. LO 8.5 On May 2 Kellie Company has decided to initiate a pelly Prepare journal entries for the…

A: Petty Cash Expenses- Sometimes the head cashier gives some amount to the junior cashier to pay small…

Q: the cash balance shown in your general ledger is P2,000,000, while the cash balance shown in your…

A: SOLUTION BANK RECONCILIATION STATEMENT  IS A SUMMARY OF BANKING AND BUSINESS ACTIVITY THAT…

Q: Record the following transactions: • Started a petty cash fund in the amount of $400. DR [ Select ]…

A: The petty cash fund is maintained for day to day minor cash requirements of the business.

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: petty cash fund

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

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.