Journalize the replenishment of the fund
NettetOn November 30, prior to replenishment, the fund contains these tickets plus cash of $245. The accounts affected by petty cash payments are Office supplies expense, … NettetOn June 1, Valley Salad Dressings creates a petty cash fund with an imprest balance of $350. During June, Al Franklin, the fund custodian, signs the following petty cash tickets: (Click the icon to view the petty cash tickets.) On June 30, prior to replenishment, the fund contains these tickets plus cash of $80.
Journalize the replenishment of the fund
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Nettet11. jun. 2007 · The government of Sweden is providing $30 million as supplementary contribution to the African Development Fund (ADF). The contribution was part of an agreement reached during the 10th replenishment of the ADF, stipulating that the funds would be released if the bank made progress towards the objectives set out in the … NettetTo get the amount of cash to be credited in the replenishment journal entry, we will just get the difference between the established petty cash fund and the amount of cash remaining. That is, Established PCF $$$ Remaining Cash ($130) Cash to be credited $xx
NettetOn September 30, the fund is replenished. The accumulated receipts on that date represent $89 for Office Supplies, $169 for merchandise inventory, and $38 for … NettetJournalize all required entries to create the fund and replenish it. Include explanations. (Record debits first, then, credits. Select the explanation on the last line of the journal entrytable.) Begin by journalizing the creation of the fund. Date Accounts and Explanation Debit Credit June 1 Petty Cash 250 Cash 250 To open the petty cash fund.
NettetThe journal entry to record the replenishment of the fund would include a Most studied answer D. credit to Cash Short and Over for $4.25. FROM THE STUDY SET Acc 201 Final Exam View this set Other answers from study sets A $100 petty cash fund contains $91 in petty cash receipts, and $4.75 in currency and coins.
Nettet31. mar. 2007 · (a) Journalize this event. (b) On February 11th the petty cash fund has receipts for mail and postage of $36.75, contributions and donations of $15.25, meals …
NettetPrepare the journal entry to record the replenishment of the petty cash fund. On March 20, Terrell's petty cash fund of $100 is replenished when the fund contains $7 in cash and receipts for postage $52, freight-out $26, and travel expense $10. Prepare the journal entry to record the replenishment of the petty cash fund. diet with only meat and vegetablesNettetPrepare journal entries for the following transactions: On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48. forex long and shortNettetJournalize all required entries to create the fund and replenish it. Include explanations. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing the creation of the fund. Date Accounts and Explanation Debit Credit June 1 Petty Cash 250 Cash 250 To open the petty cash fund. diet without carbs calledNettetMay be increased if the fund is being replenished too frequently. Does not change unless the original established amount is increased or decreased. A company maintains a Petty Cash fund of $200. The total of the vouchers for funds disbursed is $175. The amount of bills and coins remaining is $23.50. diet with no red meatNettetJournalize the establishment of the fund. Apr. 2 b. On April 10, the petty cash fund has receipts for mail and postage of $48, contributions and donations of $20, and meals … forex lowest spreadNettetJournalize all required entries to (a) create the fund and (b) replenish it. Include explanations. Journalize the creation of the fund. Journalize the replenishment of … forex lowest minimum depositNettetIn fact, there is always $100 in the box if you add up all the receipts and the cash (more or less, depending on the cash over/short situation). This system simply delays the recording of small expenses until the end of the accounting cycle or the fund is replenished. diet without carbs and fat