On September 1, French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries using this information for the following transactions for questions 1-5. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48. What is the correct journal entry?

Q: Prepare journal entries for Crane Company for May 1, June 1, July 1, and July 10.

A:

Q: While examining cash receipts information, the accounting department determined the following…

A: Journal entries are used to record transaction in chronological order under double entry accounting…

Q: At the end of the day, the cash register tape lists $1,021.18 as total income from services. Cash on…

A:

Q: pany set up a petty cash fund for payments of small amounts. The following transactions invo ccurred…

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

Q: On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto…

A: Journal entries are used to maintain track of financial transactions. To create a journal entry, you…

Q: On April 2, Granger Sales decides to establish a $370 petty cash fund to relieve the burden on…

A: Date particulars amount amount Apr 2  petty cadh $370     Cash   $370   Being cash paid…

Q: On September 30, Hector's petty cash fund of $185 is replenished. At the time, the cash box…

A: JOURNAL ENTRIES Journal Entry is the First stage of Accounting Process. Journal Entry is the Process…

Q: Spencer Company has a $230 petty cash fund. At the end of the first month the accumulated receipts…

A: Journal entry records the accounting transactions of a business in a journal book. All the business…

Q: At the end of the day, the cash register tape lists $885.69 as total income from services. Cash on…

A: Journal entry: The record of business transactions in a chronological order in the journal is…

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: On July 1, 2024, Cromartie Furniture established a $150 petty cash fund. A check for $150 was made…

A: A debit to petty cash and a credit to cash for $150 General JournalDebitCreditPetty cash$150 Cash…

Q: On July 1 AAA Company established a petty cash fund with $20o. During the first 15 days of July…

A: Solution: (1). Date Particulars Debit Credit July 1  Petty Cash 200           Cash   200

Q: the petty cash fund of the wee ones agency was established on may1, 2023, at $75. at the end of the…

A: Journal Entries to Record the Establishment of the Fund  - Date May 1, 2023  1.   Petty Cash A/c…

Q: 7. On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200.…

A: The company maintains availability of small amount to pay daily expenses in the form of petty cash.

Q: On June 1, Meadow Salad Dressings creates a petty cash fund with an imprest balance of $500. During…

A: The imprest fund system helps streamline small cash transactions and reduces the need for frequent…

Q: Cameron Co. established a $160 petty cash fund on January 1, 2023. One week later, on January 8, the…

A: The objective of the question is to prepare the journal entry to establish the petty cash fund on…

Q: Cullumber Company established a petty cash fund on May 1 for $100. The company reimbursed the fund…

A: Petty cash fund will be used for petty expenses. First, we take some amount from the bank account…

Q: On April 3rd, Snappy Sales decides to establish a $135.00 Petty Cash Account to relieve the burden…

A: Please find the answers to the above questions below:

Q: July 1 20XX Erick Black started an accounting practice called With a Professional Touch. She…

A: Journal entries refer to the recording of transactions in an appropriate way. With the help of…

Q: On June 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,400. A. On…

A: Petty cash spent in a.=$1,400-$234=$1,166

Q: Prepare the journal entries for the following petty cash transactions of Hank Gaming Supplies: Mar.…

A: A petty cash fund seems to be a small sum of money left on deposit in a closed cabinet or package to…

Q: Prepare journal entries for the above transactions. If an amount box does not require an entry,…

A: Pass necessary journal entry to record replenishment of cash fund.

Q: Carla Vista Ltd. designated Alexa Kidd as petty cash custodian and established a petty cash fund of…

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

Q: Prepare journal entries for the above transactions. If an amount box does not require an entry,…

A: Petty cash book :- Petty cash book is a book that records small small expenses that are incurred in…

Q: Oriole Boxes uses a petty cash imprest system. The fund was established on February 14 with a…

A: Journal entry is the primary reporting of the business transactions in the books of accounts. These…

Q: On June 1, Cool Salad Dressings creates a petty cash fund with an imprest balance of $350. During…

A: The imprest fund system helps streamline small cash transactions and reduces the need for frequent…

Q: Cheyenne Company established a petty cash fund on May 1, cashing a check for $115. The company…

A: Petty cash account is debited if the established a petty cash fund or increases the a petty cash…

Q: Quibble Company established a $300 petty cash fund by issuing a check to the custodian on February…

A: Step 1: Debit all the petty cash receipts to recognize them as expenses and so that their amounts…

Q: On April 1, Java Brewers created a petty cash fund starting with $100. On April 30, there was only…

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

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

A: Petty Cash means A small amount of money kept in an office to pay for small items.

Q: On October 1, 20--, a check was written in the amount of $300 to establish a petty cash fund. During…

A: Part a ) Journal Entry to establish a petty cash fund Date Account Debit Credit Jan-01 Petty…

Q: list entry worksheet entry to recognize expenditures from the petty cash fund. bits before credits.…

A: Ans. Journal entry to record expenses made from petty cash funds can be passed either by making a…

Q: Milner Department Store has one cash register on which it performs daily cash counts. Recently, the…

A: Journal entries are those which are reported by the entity in the books of accounts so as to prepare…

Q: On March 20, Vaughn's petty cash fund of $108 is replenished when the fund contains $15 in cash and…

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

Q: pare Journal Entry to establish Petty Cash Fund

A: Meaning of Petty Cash book: It is the subsidiary book of main cash book where all the small day to…

Q: Journalize the entries to record the following: Required: a. On March 1, check is issued to…

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

Q: The petty cahs fund is $800 On September 5, the petty cash fund needed replenishment, and the…

A:

Q: Nakashima Gallery had the following petty cash transactions in February of the current year.…

A: A petty Cash Fund is a small amount of cash that is often kept for day-to-day expenses of the…

Q: The following selected transactions relate to cash collections for a business that maintains a $100…

A: The cash register is the book of ledger prepared by the management in maintaining records of the…

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: the petty cash fund was replenished when there was $81 remaining and there were petty cash receipts…

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

Q: s established at $100. After the first month, the cash in the petty cash box amounted to $21. The…

A: A Petty cash fund is established to take care of the daily small expenses of a firm. This is…

Q: ournalize the entries to record the following: Required: a. On March 1, check is issued to establish…

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

Q: XYZ Company established a $500 petty cash fund on July 1. On July 30, the fund had $120 cash…

A: The asset account is debited when there is an increase and credited with there is a decrease.

Q: Journalize the entry to replenish the petty cash fund. If an amount box does not require an entry,…

A: Step 1 Journal is the part of the book keeping.

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.