The entry to establish the Change Fund includes which of the following?

Q: Describe about petty cash fund.

A:

Q: Which of the following serve as the basis for recording appropriate expenses each time the fund is…

A: The custodian is responsible for the petty cash fund. At the ending of accounting period the fund is…

Q: The type of account and normal balance of Petty Cash is a(n) Select one: A. asset, debit B.…

A: Current option is A i.e. asset, debit

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: How do I prepare the journal entry to establish the petty cash fund?

A: Dear student, kindly check the answer in the explanation box below.Explanation:To prepare the…

Q: What specific information would you need to begin a cash receipts forecast?

A: Cash receipt forecast is a forecast of cash receipts i.e. cash being received by the company.   A…

Q: A special cash fund used to make small payments that occur frequently is called a(n) ____.…

A: Market funds are those funds which are invested in the short term debt securities like commercial…

Q: Define the following concepts? a. Petty cash funds. b. Escrow payment. c. Chart of accounts.

A: a. Petty cash funds:A petty cash fund is a special fund operated by a petty cash custodian to pay…

Q: Consider the following information items as you respond to the question: i. Customer master file…

A: The five basic elements of AIS system are: 1. Output 2. Input 3. Storage 4. Internal control 5.…

Q: Journal entries commonly processed as part of the purchases and cash disbursements can include:   A…

A: Purchases of the business includes goods and services purchased for the business. It can be on cash…

Q: where would borrowed cash go on transaction worksheet

A: The borrowed cash is the amount of cash received by the entity through many ways - like from banks,…

Q: accounts are not transferrec to Realization Account? O a. Bank overdraft O b. Reserve fund O c.…

A: Option D is the correct Answer i.e All Options are Correct.

Q: On a bank reconciliation. Deposit in transit is.....?

A: Bank reconciliation is a method of reconciliation of balance in bank book with the total of balance…

Q: For each receipt in the cash book, postings should be made to the   . A. Credit side of the…

A: In accounting, a cash book is a type of ledger that records all cash receipts and payments,…

Q: Instructions Prepare a schedule of cash payments.

A: Schedule of cash payments:   It is a statement to report the expected cash payments to be done by…

Q: Describe and use the cash payments journal. What steps are followed in posting from cash payments…

A:

Q: Deposits other than customer payments are entered using: a. Receive Payments b. Pay Bills c. Bank…

A: A bank account is an account with a bank that is used to deposit money and withdraw money. The…

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: Which of the following items on a cash reconcilliation would require a journal entry by the company?…

A: The bank reconciliation statement is prepared to equate the balances of the cash book and pass book…

Q: In sap, Which of the following outgoing payments will not require manual entry of bank account? a.…

A: A financial transaction is an agreement or communication between a buyer and a seller to exchange…

Q: ash rece

A: cash receipts journal ought to have a history of your money transactions. exploitation your sales…

Q: Why should cash receipts from credit clients and sales to them be instantly documented and posted?

A: Introduction: Accounting focuses on recognizing, documenting, measuring, and summarizing…

Q: how to adjust a cash book and prepare a bank reconciliation

A: Lets understand the basics. Bank reconciliation statement is a statement which matches the balance…

Q: Define cash receipts journal.

A: Journal: Journal is the book of original entry. Journal consists of the day-to-day financial…

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: he amount of cash that is actually expected to be collected on accounts receivable is referred to…

A: The balance sheet represents the financial position of the business with assets, liabilities and…

Q: Choose the correct answer: 5. Which of the following is considered effective? a. Certificates of…

A: Money Market Checking Accounts: A money market account, sometimes known as a money market deposit…

Q: What is “Deposit in transit” in bank reconciliation?   Select one: A. Subtracted From the Cash…

A:

Q: Write a note on cash discounts.

A:

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.