Expenses are recognized when a petty cash account is established. when an employee is reimbursed for...
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Expenses are recognized |
when a petty cash account is established.
when an employee is reimbursed for expenses incurred on behalf of the business.
when cash is collected from a customer.
when the petty cash fund is replenished.
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Expenses are recognized
when a petty cash account is established.
when an employee is reimbursed for...
1. A petty cash fund of $175 was established on April 1. Year 1. 2. Employees...
1. A petty cash fund of $175 was established on April 1. Year 1. 2. Employees were reimbursed when they presented petty cash vouchers to the petty cash custodian. 3. On April 30, Year 1, the petty cash fund contained vouchers totaling $152.78 plus $23.12 of currency. Required Answer the following questions: a. How did the establishment of the petty cash fund affect (increase, decrease, or have no effect on) total assets? Increase Decrease No effect b. What is the...
Journalize the entries to record the following: March 1 Established a petty cash fund of...
Journalize the entries to record the following: March 1 Established a petty cash fund of $200. March 31 The amount of cash in the petty cash fund is now $64. The fund is replenished based on the following receipts: office supplies, $137; selling expenses, $12. Record any discrepancy in the cash short and over account.
CROBLEM II: RECORDING PETTY CASH TRANSACTIONS (10 POINTS Brown Company established a petty cash fund for...
CROBLEM II: RECORDING PETTY CASH TRANSACTIONS (10 POINTS Brown Company established a petty cash fund for $300 on September 1, 20xx. On September 30. the petty can rund was replenished when there was $20 of currency remaining in the cashbox along with receipts for: meals of $78; postage of $62; and repairs of $140. On October 24, the petty cash fund was increased to $500 in total Record the above transactions in the general ioural. Include the date, account names...
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...
A company established a petty cash fund of $100 on September 1
Problems 1.) A company established a petty cash fund of $100 on September 1. On September 10, the petty cash fund was replenished when there was $16 remaining and there were petty cash receipts for: office supplies, $27; courier, $32; and postage, $22. On September 15, the petty cash fund was increased to $125 in total. Record the above transactions in general journal form.
CALCULATOR PRINTER VER Sheffield Company uses an imprest petty cash system. The fund was established on...
CALCULATOR PRINTER VER Sheffield Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $115. During March, the following petty cash receipts were found in the petty cash box For Date Receipt No. 3751 Stamp Inventory Freight-Out Miscellaneous Expense Travel Expense Miscellaneous Expense 111 T 14 5 The fund was replenished on March 15 when the fund contained $5 in cash. On March 20, the amount in the fund was increased to...
Cullumber Company designated Alexa Kidd as petty cash custodian and established a petty cash fund of...
Cullumber Company designated Alexa Kidd as petty cash custodian
and established a petty cash fund of $400. The fund is reimbursed
when the cash in the fund is at $58. Petty cash receipts shows that
funds were disbursed for $160 of supplies and $181 of freight
charges on inventory purchases. Prepare the entries that are
necessary to record following independent transactions.
Assume that Cullumber decides to increase the size of the petty
cash fund to $620 immediately after the reimbursement....
4. (15 Points). Feathers Co. established a petty cash fund of $150 on October 1. On...
4. (15 Points). Feathers Co. established a petty cash fund of $150 on October 1. On October 10 the petty cash fund was replenished when there was $49 remaining and there were petty cash receipts for: office supplies, $47; transportation-in on inventory purchased, $32; and postage, 522. On October 15, the petty cash fund was decreased to $125 in total. Record the above transactions in general journal form. Date Debit Credit
Patel Enterprises established a petty cash fund on August 3 superscriptrd, 2012 with $200. Over the past few years, as P...
Patel Enterprises established a petty cash fund on August 3
superscriptrd, 2012 with $200. Over the past few years,
as Patel has grown, the fund has been replenished too often.
Therefore, management would like to increase the size of the petty
cash fund to $400 on August 31 superscriptst, 2015. As
of August 15 superscriptth, 2015, the fund was
replenished. Between August 16 superscriptth and August
31 superscriptst, the following transactions were
reimbursed:
If the cash in the petty cash...
Prepare the journal entries for the following petty cash transactions of Pawnee Gaming Supplies: Nov. Established...
Prepare the journal entries for the following petty cash transactions of Pawnee Gaming Supplies: Nov. Established a petty cash fund with a $150 balance. 1 The petty cash fund has $14 in cash and $142 in petty cash tickets that were issued to pay for Office Supplies ($52) and Entertainment Expense ($90). Replenished the fund and recorded the expenses Increased the balance of the petty cash fund to $300. 30 Dec. 15 Prepare journal entries. (Record debits first, then, credits....
1. A petty cash fund of $175 was established on April 1. Year 1. 2. Employees were reimbursed when they presented petty cash vouchers to the petty cash custodian. 3. On April 30, Year 1, the petty cash fund contained vouchers totaling $152.78 plus $23.12 of currency. Required Answer the following questions: a. How did the establishment of the petty cash fund affect (increase, decrease, or have no effect on) total assets? Increase Decrease No effect b. What is the...
CROBLEM II: RECORDING PETTY CASH TRANSACTIONS (10 POINTS Brown Company established a petty cash fund for $300 on September 1, 20xx. On September 30. the petty can rund was replenished when there was $20 of currency remaining in the cashbox along with receipts for: meals of $78; postage of $62; and repairs of $140. On October 24, the petty cash fund was increased to $500 in total Record the above transactions in the general ioural. Include the date, account names...
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...
CALCULATOR PRINTER VER Sheffield Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $115. During March, the following petty cash receipts were found in the petty cash box For Date Receipt No. 3751 Stamp Inventory Freight-Out Miscellaneous Expense Travel Expense Miscellaneous Expense 111 T 14 5 The fund was replenished on March 15 when the fund contained $5 in cash. On March 20, the amount in the fund was increased to...
Cullumber Company designated Alexa Kidd as petty cash custodian
and established a petty cash fund of $400. The fund is reimbursed
when the cash in the fund is at $58. Petty cash receipts shows that
funds were disbursed for $160 of supplies and $181 of freight
charges on inventory purchases. Prepare the entries that are
necessary to record following independent transactions.
Assume that Cullumber decides to increase the size of the petty
cash fund to $620 immediately after the reimbursement....
4. (15 Points). Feathers Co. established a petty cash fund of $150 on October 1. On October 10 the petty cash fund was replenished when there was $49 remaining and there were petty cash receipts for: office supplies, $47; transportation-in on inventory purchased, $32; and postage, 522. On October 15, the petty cash fund was decreased to $125 in total. Record the above transactions in general journal form. Date Debit Credit
Patel Enterprises established a petty cash fund on August 3
superscriptrd, 2012 with $200. Over the past few years,
as Patel has grown, the fund has been replenished too often.
Therefore, management would like to increase the size of the petty
cash fund to $400 on August 31 superscriptst, 2015. As
of August 15 superscriptth, 2015, the fund was
replenished. Between August 16 superscriptth and August
31 superscriptst, the following transactions were
reimbursed:
If the cash in the petty cash...
Prepare the journal entries for the following petty cash transactions of Pawnee Gaming Supplies: Nov. Established a petty cash fund with a $150 balance. 1 The petty cash fund has $14 in cash and $142 in petty cash tickets that were issued to pay for Office Supplies ($52) and Entertainment Expense ($90). Replenished the fund and recorded the expenses Increased the balance of the petty cash fund to $300. 30 Dec. 15 Prepare journal entries. (Record debits first, then, credits....
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