Cop 2-9.The cash drawer at the local market has room for $20 bills, $10 bills, $5 bills, $1 bills, quarters,dimes, nickels, and pennies. Create a worksheet that allows a person to enter in how many ofeach type of bills and coins are in the cash drawer and calculates the total value of the moneyin the drawer. So for example if the drawer contains two $5 bills and three quarters, therewould be $10.75 in the drawer.

Each and every business or organization has cash with it.Cash is the money held in coins and notes…

Answered: 2-9. The cash drawer at the local…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 7E

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Carson's Bakery requires $500 cash to be on hand in the petty cash fund. During the month of October the following receipts were provided to the accountant in charge of petty cash; Gas $50, Supplies $100, Stamps $75. The petty cash fund now has a current balance of $270. How much cash needs to be withdrawn from the bank in order to replenish he petty cash fund? Record your answer as a numeric value without a $ sign. Type your answer..
The petty cash fund had an initial imprest balance of $100. It currently has $20 and petty cash tickets totaling $75 for office supplies. The entry to replenish the fund would contain Credit to Cash Short & Over for $5. A credit to Petty Cash for $80. A debit to Cash Short & Over for $5. A debit to Petty Cash for $80.
At the end of the day, the cash register tape lists $885.69 as total income from services. Cash on hand consists of $15.68 in coins, $459.77 in currency, $90.00 in traveler's checks, and $409.74 in customers' checks. The amount of the Change Fund is $100. Required: Record the entry to record the day's cash revenue. If an amount box does not require an entry, leave it blank. GENERAL JOURNAL PAGE DATE DESCRIPTION DOC. NO. POST. REF. DEBIT CREDIT Cash Cash Short and Over Income from Services To record revenue earned during the day involving a cash shortage of $10.50.
Jul 2 Recommended to the owner, Jen Beck, that she put some of the cash into a Money Market account that will earn interest. Jen agrees. Create the general ledger account 1030 Money Market and transfer $7,000 into the account. Just tell me in quickbooks where do i record this transaction?bill (enter bills window)credit (enter bills window)bill pmt - check (pay bills window)check (write checks window)invoice (create invoices window)payment (receive payments window)sales receipt (enter sales receipts window)deposit (make deposit window)general journal (make general journal entries window)inventory adjust (adjust quantity/value on hand window)sales tax payment (pay sales tax window)paycheck (pay employees window)liability check (pay payroll liabilities window)transfer (transfer funds between accounts window)credit card charge (enter credit card charges window)credit memo (create credit memos/refunds window)discounts (receive payments window)
At the end of the day, the cash register tape lists $881.40 as total income from services. Cash on hand consists of $18.25 in coins, $433.60 in currency, $100.00 in traveler's checks, and $427.00 in customers' checks. The amount of the Change Fund is $100. How would I record this entry in a journal, what would be debited and credited and how much?
A $102 petty cash fund contains $90 in petty cash receipts, and $7 in currency and coins. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. credit to Cash for $90 debit to Cash Short and Over for $5 credit to Petty Cash for $102 credit to Cash Short and Over for $5
Assume that the custodian of a $465 petty cash fund has $67.50 in coins and currency plus $391.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice A debit to Cash for $386. A debit to Cash Over and Short for $6.00. A debit to Petty Cash for $391.50. A credit to Cash for $391.50. A credit to Cash Over and Short for $398.
Assume that the custodian of a $500 petty cash fund has $62 in currency plus $412 in receipts at the end of the month. The entry to replenish the petty cash fund will include a credit to Cash for $412. a debit to Petty Cash for $438. a credit to Cash for $438. a credit to Cash Short and Over for $26.
A $100 petty cash fund has cash of $9 and receipts of $85. The journal entry to replenish the account would include a credit to Select one: a. Petty Cash for $85. b. Cash for $91. C. Cash Over and Short for $6. d. Cash for S85.
A $180 petty cash fund has cash of $20 and receipts of $146. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. credit to Cash for $180 debit to Cash for $20 debit to Cash Short and Over for $14 credit to Petty Cash for $146
The petty cash fund had an initial imprest balance of $100. It currently has $20 and petty cash tickets totaling $75 for office supplies. The entry to replenish the fund would contain a. a credit to Cash Short & Over for $5. b. a credit to Petty Cash for $80. c. a debit to Cash Short & Over for $5. d. a debit to Petty Cash for $80.
A petty cash fund was established with a $200 balance. It currently has cash of $40 and petty cash tickets as follows: Office expense $150 and Entertainment Expense $20. Which of the following would be included in the journal entry to replenish the Petty Cash fund? A. credit to Cash Short & Over for $30 B. debit to Cash Short & Over for $10 C. debit to Cash Short & Over for $30 D. credit to Cash Short & Over for $10

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