The following were the transactions involving an entity's petty cash fund during the period. July 1, 20x1 Established $30,000 petty cash fund. July through 20x1 1 Disbursements: 21,- Office supplies expense - Transportation expenses - Repairs and maintenance - Miscellaneous expense Total $4,200 10,500 3,000 9,000 $26,700 July 22, Total coins and currencies in the petty cash box is P1,500. Replenishment 20x1 is made. 19. The petty cash fund is not replenished and financial statements are prepared on July 31, 20x1. The month-end adjustment to the petty cash fund would not include a A. debit to receivable from custodian for $1,800. B. credit to petty cash fund for $28,500. C. total debits to various expense accounts for $26,700. D. credit to cash in bank for $28,500.

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The following information were taken from Bach Co.: Bach established a petty cash fund on May 2, 2021, amounting to P5,000. Expenditures from the fund by the custodian as of May 31, 2021, were evidenced by approved petty cash vouchers for the following: Page 6 of 11 Office supplies P1,960 Meals and snacks 600 Shipping charges 1,149 Miscellaneous 763 On May 31, 2021, the petty cash fund was replenished. Currency and coins in the fund at that time totaled P378. The bank statement from Sulfur Bank is shown below: Disbursements Receipts Balance Balance, May 1, 2021 Deposits Note payment direct from customer (interest of P600) Checks cleared during May Bank service charges Balance, May 31, 2021 P175,380 P560,000 18,600 P623,000 540 P130,440 The cash balance as found in Bach's records shows the following information: P177,000 Balance, May 1, 2021 May deposits Checks written in May 615,080 636,700 Deposits in transit are determined to be P60,000, and checks outstanding on May 31 totaled…

3. Athena Co. held the following items on Dec. 31, 20x1: Petty cash fund (currencies and coins, P6,000) 10,000 65,000 Cash on hand (per cash count sheet on Dec. 31, 20x1) Cash in bank (per ledger) 2,890,000 190,000 Customer's check #109 - dated Dec. 29, 20x1. Customer's check # 392 - dated Jan. 8,20x2 20,000 Athena Co.'s check # 567 - dated Dec. 29, 20x1 54,000 NSF check (received from the bank on Dec. 30, 20x1) 40,000 All the checks were recorded when they were collected (drawn) by a debit (credit) to the Cash in bank account. The NSF* check was recorded when it was received from the customer. However, the return of the NSF check from the bank was not yet recorded. In its Dec. 31, 20x1 financial statements, what amount of cash should Athena Co. report? a. 2,695,000 b. 2,735,000 c. 2,955,000 d. 3,085,000 *NSF (No Sufficient Funds) means that the check has "bounced" or has been rejected by the bank because the drawer's account (i.e., the customer) has an insufficient balance to pay for…

2. The petty cash fund was established on April 10, 2020, in the amount of $300. These are the following expenditure made by petty cash custodian: Postage expense Mailing labels and other supplies 1.O.U from employees Shipping charges (to customer) Newspaper advertising Miscellaneous expense $27 $75.25 $25 $47.50 $33 $47.25 On April 30, 2020 the petty cash fund was reimbursed when the cash in the fund is at $25. Prepare the journal entries for the establishment of the fund and the reimbursement.

Petty cash book transactions in Prime books entries?

000 Debit Cash $250; credit Accounts Payable $250. Havermill Co. establishes a $250 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $73 for Office Supplies, $137 for merchandise inventory, and $22 for miscellaneous expenses. The fund has a balance of $18. On October 1, the accountant determines that the fund should be increased by $50. The journal entry to record the establishment of the fund on September 1 is: Debit Petty Cash $250; credit Cash $250. Debit Petty Cash $250; credit Accounts Payable $250. Debit Cash $250; credit Petty Cash $250. Debit Miscellaneous Expense $250; credit Cash $250.

7. Journalize the entries to record the following: established a petty cash fund of $350 The amount of cash in the petty cash fund is now $130. The fund is replenished based on the following receipts: office supplies, 116; Sep 1 Sep 30 postage $100. Record any discrepancy in the cash short and over account. D Focus

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