On April 2, Granger Sales decides to establish a $280 petty cash fund to relieve the burden on Accounting. a.  Journalize the establishment of the fund. Apr. 2               b.  On April 10, the petty cash fund has receipts for mail and postage of $56, contributions and donations of $29, and meals and entertainment of $110. The remaining cash is $81 in the ending cash balance. Journalize the replenishment of the fund. If an amount box does not require an entry, leave it blank. c.  On April 11, Granger Sales decides to increase petty cash by $160. Journalize this event

Q: Swifty Company established a petty cash fund on May 1, cashing a check for $125. The company…

A: Journal entry is a record of financial transaction in the books of accounts of a business. It…

Q: On 1 September 2018, Desa Utara established a petty cash fund of RM900. At the end of the month the…

A: The petty cash fund is created for day to day cash transactions of the business.

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: On March 1, a company established a $75 petty cash fund. On March 12, the petty cash fund contains…

A: Journal entries are the initial recording of all the monetary business transactions in a systematic…

Q: Lyle Company maintains a petty cash fund for small expenditures. These transactions occurred during…

A: Petty cash is kept for meeting day-to-day expenses. Petty cash is kept in physical form in a…

Q: 1. Brooks Agency set up a petty cash fund for $230. At the end of the current period, the fund…

A: Given: Petty Cash fund:$230 Entertainment Expense:$42 Postage :$29 Printing:$27

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: 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: 1. Brooks Agency set up a petty cash fund for $260. At the end of the current period, the fund…

A: The petty cash fund is used for different small expenses and is replenished every month. it helps to…

Q: establish a petty following information pertains to the fund. 1) On April 1, 2021, a petty cash fund…

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

Q: On May 1 of this year, Ellsworth and Company established a Petty Cash Fund. The following petty cash…

A:

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: Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in…

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

Q: Nosh Company maintains a petty cash fund for small expenditures. These transactions occurred during…

A: Day to day expenses of an company was managed by keeping effective petty cash fund in which all the…

Q: Palmona Co. establishes a $300 petty cash fund on January 1. On January 8, the fund shows $211 in…

A: The answer is as fallows

Q: On April 1, 2021, Adobo Co. established a petty cash fund for P80,000 by writing a check drawn…

A: Solution: Amount of replenishment under the imprest fund system = Receipts for office supplies +…

Q: Brooks Agency set up a petty cash fund for $150. At the end of the current period, the fund…

A: Petty cash: It can be defined as the small amount of money that is kept separately to be spent at…

Q: Conway Designs established a $290 petty cash fund on October 1, 2020. Prepare the entry to replenish…

A: Req-1       Date  General Journal   Debit   Credit  Oct 31, 2020  Cleaning expenses  $150…

Q: On April 1, 2021, CPA Co. established a petty cash fund for P80,000 by writing a check drawn against…

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

Q: Feb 2-Märt established a petty cash fund recently and the following transactions affecting the fund…

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

Q: On April 2, Granger Sales decides to establish a $125.00 petty cash fund to relieve the burden on…

A: Cash used=Petty cash fund-Cash in hand=$125-$13.55=$111.45

Q: Moon Co. decides to establish a petty cash fund with a beginning balance of $250. At the end of the…

A: Under the imprest system of maintaining petty cash, Petty Cashier is reimbursed whatever amount he…

Q: Using the following information, prepare the journal entries to: a. Establish a $200 petty cash…

A: a.

Q: On April 3, Snappy Sales decides to establish a $135 petty cash fund to relieve the burden on…

A: All the answer  you did are correct  But you  should  mention  narration also.

Q: On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,500. Prepare…

A: Petty cash fund is used by the organizations to fund the small cash payments for utilities, office…

Q: Ovy Inc. established a $175 petty cash fund on August 15, 2012. On August 31, 2012, the fund…

A: Petty cash is the statement prepared in order to keep a record of miscellaneous expenditures…

Q: 1. Brooks Agency set up a petty cash fund for $270. At the end of the current period, the fund…

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

Q: On April 1, 2021, VKS Co. established a petty cash fund for P80,000 by writing a check drawn against…

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

Q: r audit client, VWX Corporation, set up a petty cash fund for the first time last October 1, 2021,…

A: The adjustment entries are prepared to adjust the revenue and expenses of the current period.

Q: T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200. By the end of…

A: Petty cash: Petty cash fund is eastiblished to pay insignifinant amount small expenses like office…

Q: a. Journalize the establishment of the fund. Apr. 2 b. On April 10, the petty cash fund has receipts…

A: Person managing the Petty cash fund is called a petty cashier. There are various small expenses…

Q: On August 3, Sonar Sales decides to establish a $275 petty cash fund to relieve the burden on…

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

Q: The following information were taken from Bach Co.: Bach established a petty cash fund on May 2,…

A: Petty Cash - It refers to the amount of money which are keeps on hand for small outflows into the…

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

A: On establishment of petty cash fund the cash will go to petty cash fund.

Q: Sheridan Company established a petty cash fund on May 1, cashing a check for $100. The company…

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

Q: The petty cash fund was established on April 10, 2020, in the amount of $300. These are the…

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

Q: On April 3, Snappy Sales decides to establish a $135 petty cash fund to relieve the burden on…

A: Person managing the Petty cash fund is called a petty cashier. There are various small expenses…

Q: Finman Company designated Jill Holland as petty cash custodian and established a petty cash fund of…

A: Cash  = Petty cash fund - reimbursed fund Cash = $200 - $15 Cash = $185…

Q: ash on hand at this time was $132. B. On June 14, the petty cash fund needed replenishment, and the…

A: Journal entry is the process of documenting commercial transactions for the first time in the books…

Q: Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $99 in…

A: Petty cash is maintained to incur the pretty expenses without bothering the main cash balance. All…

Q: Concord Company uses an imprest petty cash system. The fund was established on March 1 with a…

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: Johnston Construction created a petty cash fund on July 1, 2017 with an imprest balance of $400.…

A: The petty cash fund is a current asset for the business. It is established by business to maintain…

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.