Question

Alpha Company replenished a $500 petty cash fund. The petty cash box contained vouchers of $87...

Alpha Company replenished a $500 petty cash fund. The petty cash box contained vouchers of $87 for postage, $173 for supplies, $58 for gasoline, and cash on hand of $180. The journal entry to reflect replenishment would include a:

A. credit to Cash for $318

B. credit to Petty Cash for $2

C. credit to Cash or $180

D. debit to Cash Short for $2

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Alpha Company replenished a $500 petty cash fund. The petty cash box contained vouchers of $87...
Alpha Company replenished a $500 petty cash fund. The petty cash box contained vouchers of $87 for postage, $173 for supplies, $58 for gasoline, and cash on hand of $180. The journal entry to reflect replenishment would include a: Question 6 options: credit to Cash or $180 credit to Petty Cash for $2 debit to Cash Short for $2 credit to Cash for $318
On March 20, Harbor’s petty cash fund of $100 is replenished when the fund contains $...
On March 20, Harbor’s petty cash fund of $100 is replenished when the fund contains $ 25 in cash and receipts for postage $ 41, supplies $ 22, and travel expense $12. Prepare the journal entry to record the replenishment of the petty cash fund. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
On March 20, Coronado’s petty cash fund of $105 is replenished when the fund contains $8...
On March 20, Coronado’s petty cash fund of $105 is replenished when the fund contains $8 in cash and receipts for postage $48, freight-out $11, and travel expense $33. Prepare the journal entry to record the replenishment of the petty cash fund. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 20
Here is the problem: The following transactions relate to the petty cash fund of Karvis Company:...
Here is the problem: The following transactions relate to the petty cash fund of Karvis Company: May 1 The petty cash fund is set up with a $200 cash balance.   May 13 Because the money in the petty cash box is down to $30.20, the fund is replenished. The petty cash vouchers at the time of replenishment are as follows: Flowers for hospitalized employee (miscellaneous expense) $50.60 Postage stamps $54.36 Office supplies $62.33 May 31 The cash in the petty...
16. On January 1st, Melissa co. establishes a petty cash fund in the amount of $750....
16. On January 1st, Melissa co. establishes a petty cash fund in the amount of $750. On 31 January, the fund is replenished. Before replenishment, there was $278.25 remaining in the petty cash drawer and the following receipts: I. parking fees - $125.25 ii. postage - 71 iii. office supplies - $222 iv. miscellaneous expenses - $52 prepare all journal entries necessary to record the establishment and replenishment of the fund
May 1, 2020, Catherine’s Cupcakes Incorporated established a petty fund of $300. By the end of...
May 1, 2020, Catherine’s Cupcakes Incorporated established a petty fund of $300. By the end of August there was $18 cash on hand and the fund contained the following petty cash tickets: Delivery, $83.00 Freight, $54.00 Supplies, $39.00 Postage, $24.00 Catering, $79.00 Required Prepare the journal entries in the template below to record: the establishment of the petty cash fund, and the replenishment of the petty cash fund.
Please record in general journal entry format the following petty cash transactions for Milano corporation; Check#117...
Please record in general journal entry format the following petty cash transactions for Milano corporation; Check#117 was issued for $500 to establish a petty cash fund. Check#228 was issued to replenish the fund. the petty cash drawer contained cash of $187 and vouchers for the following; store supplies $75.77, delivery charges $97.26, postage$67.25, parking fees $57.00, miscellaneous $20.73 Check#324 was issued to decrease the amount of the fund to $400 Check#385 was issued to replenish the fund. The petty cash...
During October, Sandhill Company experiences the following transactions in establishing a petty cash fund. Oct. 1...
During October, Sandhill Company experiences the following transactions in establishing a petty cash fund. Oct. 1 A petty cash fund is established with a check for $147.00 issued to the petty cash custodian. 31 A check was written to reimburse the fund and increase the fund to $197.00. A count of the petty cash fund disclosed the following items: Currency $59.00 Coins 2.15 Expenditure receipts (vouchers):     Supplies $24.65     Miscellaneous items 14.95     Postage 38.25     Freight-Out 5.35 Journalize the entries in October...
Fresh Foods established a petty cash fund of $275 on January 2. On January 31, the...
Fresh Foods established a petty cash fund of $275 on January 2. On January 31, the fund contained cash of $72.25 and vouchers for the following cash payments:      Maintenance expense $ 82.25   Office supplies 84.80   Transportation expense 32.50 The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. 1. value: 10.00 points Required information Required...
On September 1, Bartoletti Company established a petty cash fund for $100. On September 10, you...
On September 1, Bartoletti Company established a petty cash fund for $100. On September 10, you find the following items in the cash box: ·         Receipts for postage ($21.50), transportation-in ($32.00), and office supplies ($27.00). ·         $16.50 in cash. It was decided to increase the amount of the fund to $125 when replenishing it. Required: Prepare TWO journal entries: 1.      Establish the fund. 2.      Replenish/reimburse (& increase) the fund. use template below GENERAL JOURNAL Date Account Titles and Explanation PR Debit Credit
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT