Please don't provide solutions image based thanks Lucy keeps her petty cash book on the imprest system.The imprest amountamount is $3,000. The followingtransactions took place during the month:2019Oct 1 Bal b/f1Petty cash restored to the imprest amount5 Postage stamps6Taxi fares8Petrol for the motor van10Ballpoint pens and paper11Bus fares"15Refund to Jimmy Wong for an overpayment on hisaccount in the accounts receivable ledger""1"1#1""16 Stamps"18 Magazines"21 Motor van repairs23Envelopes11 24Petrol for the motor van"28Courier charge"31 Cinema tickets for staff"S$2,344509030020015871001660040310120280Required:Record the above transactions in a petty cash book withanalysis columns for postage, travelling, motor expenses,stationery, sundry expenses and ledger account. Show thebalance carried down to 1 November 2019 and therestoration of the cash float.

The imprest petty cash system is prepared by an accountant by estimating the petty cash expenses and…

Lucy keeps her petty cash book on the imprest system. The imprest amount is $3,000. The following transactions took place during the month: amount 2019 Oct 1 Bal b/f 1 Petty cash restored to the imprest amount 5 Postage stamps 6 Taxi fares 8 "10 11 "15 " " " " " " 18 "21 23 24 "28 " " " Petrol for the motor van Ballpoint pens and paper Bus fares Refund to Jimmy Wong for an overpayment on his account in the accounts receivable ledger 16 Stamps Magazines Motor van repairs Envelopes Petrol for the motor van Courier charge 31 Cinema tickets for staff S $2,344 50 90 300 200 15 87 100 16 600 40 310 120 280 Required: Record the above transactions in a petty cash book with analysis columns for postage, travelling, motor expenses, stationery, sundry expenses and ledger account. Show the balance carried down to 1 November 2019 and the restoration of the cash float.

Lucy keeps her petty cash book on the imprest system. The imprest amount is $3,000. The following transactions took place during the month: amount 2019 Oct 1 Bal b/f 1 Petty cash restored to the imprest amount 5 Postage stamps 6 Taxi fares 8 "10 11 "15 " " " " " " 18 "21 23 24 "28 " " " Petrol for the motor van Ballpoint pens and paper Bus fares Refund to Jimmy Wong for an overpayment on his account in the accounts receivable ledger 16 Stamps Magazines Motor van repairs Envelopes Petrol for the motor van Courier charge 31 Cinema tickets for staff S $2,344 50 90 300 200 15 87 100 16 600 40 310 120 280 Required: Record the above transactions in a petty cash book with analysis columns for postage, travelling, motor expenses, stationery, sundry expenses and ledger account. Show the balance carried down to 1 November 2019 and the restoration of the cash float.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

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

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The custodian of a $450 petty cash fund discovers that the fund has $54.30 In coins and currency plus $391.50 In receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice A credit to Cash Over and Short for $4.20. O A debit to Cash for $395.70. О A debit to Cash for $387.30. O A debit to Petty Cash for $391.50. O. A credit to Cash for $395.70.
On July 1, 2024, Cromartie Furniture established a $150 petty cash fund. A check for $150 was made out to the petty cash custodian. During July, the petty cash custodian paid the following bills from the petty cash fund: Office supplies $ 36 Postage 22 Delivery charges 40 Bottled water 28 Total $ 126 At the end of July the petty cash fund was replenished. The journal entry to establish the petty cash fund includes:
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On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the amount remaining in the fund was RO 80. It had the following data: Postage Expense RO 150 Freight-In 340 Entertainment of clients 228 Supplies Expense 160 The journal entry to replenish the account would indlude: Select one O a. None of the answers are correct. O b. debit to Petty Cash for RO 750. O c debit to Cash Over and Short for RO 8. O d. credit to Cash for RO 52. O e credit to Cash Over and Short for RO 8.
Corbett Corp. set up a $500 petty cash fund on October 1, 2022. They replenish the petty cash fund at the end of each month using an imprest system. (Students: I went over what an imprest system is in the “Petty Cash” outside video). On October 31, the following is noted: Meal receipts total $200 Transportation receipts total $75 $240 of petty cash remains in the fund on October 31. The October 31 entry to replenish the petty cash fund back to a $300 balance should include a:
A surprise count of the petty cash fund of Jungkook Pharma on July 4, 2020 showed the following: Bills and coins- P6,050 Paid vouchers for: o Newspaper subscription for two weeks (dated June 29, 2020)- P300 o Office supplies (dated July 2, 2020)- P1,300 o Grab delivery fee for documents sent to a client- P273 o SB coffee for an unexpected visit of a BIR personnel inspecting the company’s record- P290 Employee’s check dated July 15, 2020- P2,700 Company check representing replenishment of the petty cash fund- P4,000 The company’s fiscal year ends on June 30. The petty cash fund was established for the amount of P15,000. How much is the correct amount of the petty cash fund included in Jungkook’s cash and cash equivalents total at June 30, 2020 and the amount of shortage or overage in the fund, respectively?
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Penny-Wise Pound-Fool Company established a $400 petty cash fund on September 1, 2021. The fund is replenished at the end of each month. At the end of September 2021, the fund contained $74 in cash and each of the following receipts: Office Supplies $142 Advertising 96 Postage 40 Miscellaneous 38 Required: Prepare the necessary general journal entry to establish the petty cash fund on September 1 and to replenish the fund on September 30.
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On October 1, 2020, Faith Company established an imprest petty cash fund by issuing a check for P2,000 to Joy Youz, the custodian of the petty cash fund. Faith Co. allows expenses of P1,000 and below to be charged to Petty Cash Fund. Any expenditure beyond this amount will require check issuance to the payee. October petty cash transactions were as follows: Date PCV # Transaction Amount 02-Oct 1 Freight paid to MamaMove on merchandise purchase P400.00 05-Oct 2 Cash advance of a co-employee 500.00 07-Oct 3 One week cellphone load of the liaison personnel 100.00 08-Oct 4 Purchase of office supplies 550.00 10-Oct 5 Reimbursement of transportation expenses of the liaison personnel 300.00 12-Oct Petty cash replenishment, Check # 002357 12-Oct Increase in petty cash fund to P3,000.00, Check # 002358 14-Oct 6 One week cellphone load of the liaison personnel 100.00 14-Oct 7 Reimbursement of transportation expenses 300.00 15-Oct 8 Snack treat to the…