Witryna29 maj 2024 · The petty cash book is not part of the double entry bookkeeping … WitrynaTo analyze, we simply compare the accountability and the accounted for. The …

Journalizing Petty Cash Transactions Financial Accounting

WitrynaB.) record the journal entry on February 28 to replenish the fund. Pharoah Boxes uses a petty cash imprest system. The fund was established on February 14 with a balance of $102. On February 28. there were $6 cash and the following petty cash receipts in the petty cash box: Date Receipt No. For Amount Feb. 15 1 Supplies $12 18 2 Postage … WitrynaPetty cash books maintain day-to-day transactions that a company incurs, such as refreshments, water, etc. Accounting’s core lies in the journal, ledger, and petty cash book. Most transactions in the petty cash book are recorded in the cash account. There are two systems to record expenses in the petty cash book, the ordinary petty cash ... ipswich 24 competitions

a) record the journal entry on February 14 to establish the petty...

Witryna29 lis 2024 · In this case the calculation of the replenishment amount is as follows. Cash to replenish = Fixed imprest amount - Cash held Cash to replenish = 100 - 25 Cash to replenish = 75. The imprest petty cash journal entry would then be as follows: Replenish the petty cash fund and record the expenses journal entry. Account. Witryna1 gru 2024 · Dec 1 Established an imprest petty cash fund of 10,000 by writing a check on National Bank Dec 20 Replenished the petty cash fund by writing a check on National Bank. The fund contained: Currency and coins 1,000 Vouchers for selling expenses 5,000 Vouchers for miscellaneous expense 2,000 Vouchers for equipment … WitrynaIn this case, we can make the petty cash replenishment journal entry on December … orchard japanese food