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MC Qu. 9-33 The entry to create a petty cash fund includ... The entry to create...
2 A company wants to decrease its $200.00 petty cash fund to $75.00. The entry to...
2
A company wants to decrease its $200.00 petty cash fund to $75.00. The entry to reduce the fund is: Multiple Choice Debit Petty Cash for $75.00; debit Cash Over and Short $180.00; credit Cash $200.00 Debit Cash Over and Short for $8.75; credit Petty Cash $8.75 Debit Miscellaneous Expenses $20.00; credit Cash $20.00. Debit to Cash $125.00; credit Petty Cash $125.00. Debit Petty Cash $105.00; credit Cash $105.00. If a check correctly written and paid by the bank for...
MC Qu. 9-62 During the month a company... During the month a company paid $5475 for...
MC Qu. 9-62 During the month a company... During the month a company paid $5475 for office supplies and $63 22 for miscellaneous expenses from the petty cash fund the entry to replenish the petty cash fund at the end of the month would include Multiple Choice 0 O debit to Petly Cash for $1797 0 C) a credit to Cash for $117.97 0 O debt to Cash for $17.97 0 O credit to Onice Supplies for $5475 Pre 1...
A petty cash fund of $100 is replenished when the fund contains $3 in cash and receipts for $93
A petty cash fund of $100 is replenished when the fund contains $3 in cash and receipts for $93. The entry to replenish the fund would debit Cash Over and Short for $4. credit Miscellaneous Revenue for $4. credit Cash Over and Short for $4. debit Miscellaneous Expense for $4.
Assume that the custodian of a $810 petty cash fund has $182.50 in coins and currency...
Assume that the custodian of a $810 petty cash fund has $182.50 in coins and currency plus $598.50 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 $628. A debit to Petty Cash for $598.50. A debit to Cash Over and Short for $29.00. A credit to Cash for $598.50. A debit to Cash for $570.
3. The entry that is necessary to establish a petty cash fund should include which of...
3. The entry that is necessary to establish a petty cash fund should include which of the following: A. A debit to Cash and a credit to Petty Cash B. A debit to Cash and a credit to Cash Over and Short C. A debit to Petty Cash and a credit to Cash D. A debit to Petty Cash and a credit to Accounts Receivable E. A debit to Cash and a credit to Petty Cash Over and Short I
nation Cash To increase the petty cash fund, Debit Credit Petty Cash - Had the Petty...
nation Cash To increase the petty cash fund, Debit Credit Petty Cash - Had the Petty Cash fund been decreased, the debit would've been to Cash and the credit to the Petty cash account. Remember that the only time the Petty cash account is used in the journal entry is when the account is established, increased, or decreased Try it! 8. The following petty cash transactions of Green Golf Equipment occurred in a May 1 Established a petty cash fund...
Assume a company holds a $200 Petty Cash fund. It expends $135 as follows: $60 for...
Assume a company holds a $200 Petty Cash fund. It expends $135 as follows: $60 for delivery expenses, $40 for postage, $35 for office supplies. There is $30 of cash remaining in the fund. The accountant wishes to reduce the petty cash fund to $175. The journal entry to replenish the petty cash fund and reduce the balance of the fund includes A credit to Office supplies expense for $35 A debit to Cash over/short for $15 A credit to...
A petty cash fund was established with a $575 balance. It currently has cash of $45...
A petty cash fund was established with a $575 balance. It currently has cash of $45 and petty cash tickets as shown below: Travel expense $120 Office supplies expense 250 Equipment rental expense 120 Which of the following would be included in the journal entry to replenish the Petty Cash fund? O A. debit to Petty Cash for 540 OB. credit to Cash Short & Over for 540 OC. credit to Petty Cash for $40 OD. debit to Cash Short...
Calculator Petty Cash Fund Entries Journalize the entries to record the following: a. Check is issued...
Calculator Petty Cash Fund Entries Journalize the entries to record the following: a. Check is issued to establish a petty cash fund of $1,500 b. The amount of cash in the petty cash fund is now $510. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $574; miscellaneous selling expense, $238; miscellaneous administrative expense, $149. (Because the amount of the check to replenish the fund plus the balance in the fund...
Sheffield, Inc. decided to establish a petty cash fund to help ensure internal control over its...
Sheffield, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April. 1. On April 1, it established a petty cash fund in the amount of $248. 2. A summary of the petty cash expenditures made by the petty cash custodian as of April 10 is as follows. Delivery charges paid on merchandise purchased $72 Supplies purchased and used Postage expense I.O.U. from...
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A company wants to decrease its $200.00 petty cash fund to $75.00. The entry to reduce the fund is: Multiple Choice Debit Petty Cash for $75.00; debit Cash Over and Short $180.00; credit Cash $200.00 Debit Cash Over and Short for $8.75; credit Petty Cash $8.75 Debit Miscellaneous Expenses $20.00; credit Cash $20.00. Debit to Cash $125.00; credit Petty Cash $125.00. Debit Petty Cash $105.00; credit Cash $105.00. If a check correctly written and paid by the bank for...
MC Qu. 9-62 During the month a company... During the month a company paid $5475 for office supplies and $63 22 for miscellaneous expenses from the petty cash fund the entry to replenish the petty cash fund at the end of the month would include Multiple Choice 0 O debit to Petly Cash for $1797 0 C) a credit to Cash for $117.97 0 O debt to Cash for $17.97 0 O credit to Onice Supplies for $5475 Pre 1...
3. The entry that is necessary to establish a petty cash fund should include which of the following: A. A debit to Cash and a credit to Petty Cash B. A debit to Cash and a credit to Cash Over and Short C. A debit to Petty Cash and a credit to Cash D. A debit to Petty Cash and a credit to Accounts Receivable E. A debit to Cash and a credit to Petty Cash Over and Short I
nation Cash To increase the petty cash fund, Debit Credit Petty Cash - Had the Petty Cash fund been decreased, the debit would've been to Cash and the credit to the Petty cash account. Remember that the only time the Petty cash account is used in the journal entry is when the account is established, increased, or decreased Try it! 8. The following petty cash transactions of Green Golf Equipment occurred in a May 1 Established a petty cash fund...
A petty cash fund was established with a $575 balance. It currently has cash of $45 and petty cash tickets as shown below: Travel expense $120 Office supplies expense 250 Equipment rental expense 120 Which of the following would be included in the journal entry to replenish the Petty Cash fund? O A. debit to Petty Cash for 540 OB. credit to Cash Short & Over for 540 OC. credit to Petty Cash for $40 OD. debit to Cash Short...
Calculator Petty Cash Fund Entries Journalize the entries to record the following: a. Check is issued to establish a petty cash fund of $1,500 b. The amount of cash in the petty cash fund is now $510. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $574; miscellaneous selling expense, $238; miscellaneous administrative expense, $149. (Because the amount of the check to replenish the fund plus the balance in the fund...
Sheffield, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April. 1. On April 1, it established a petty cash fund in the amount of $248. 2. A summary of the petty cash expenditures made by the petty cash custodian as of April 10 is as follows. Delivery charges paid on merchandise purchased $72 Supplies purchased and used Postage expense I.O.U. from...
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