Question

Pelcher Co. maintains a $400 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $110 for office supplies, $140 for merchandise inventory, and $70 for miscellaneous expenses. There is a cash overage of $4. The journal entry to replenish the fund on January 31 is:a.Dr. Office Supplies, $110; Dr. Merchandise inventory, $140; Dr. Miscellaneous expenses, $70; Dr. Cash over and short, $4; Cr.Petty cash, $324.b.Dr.Office Supplies, $110; Dr. Merchandise inventory, $140; Dr. Miscellaneous expenses, $70; Dr. Cash over and short, $4; Cr. Cash, $324c.Dr. Office Supplies, $110; Dr. Merchandise inventory, $140; Dr. Miscellaneous expenses, $70; Cr. Cash over and short, $4; Cr.Petty cash, $316.d.Dr.Office Supplies, $110; Dr. Merchandise inventory, $140; Dr. Miscellaneous expenses, $70; Cr. Cash over and short, $4; Cr. Cash, $316.e.Dr. Office Supplies, $110; Dr. Merchandise inventory, $140; Dr. Miscellaneous expenses, $70; Dr.Cash over and short, $4; Cr.Petty cash, $400.

Answer 1

Answer:

Dr.Office Supplies, $110; Dr. Merchandise inventory, $140; Dr. Miscellaneous expenses, $70; Cr. Cash over and short, $4; Cr. Cash, $316

Explanation:

The journal entries are shown below:

1. Petty cash A/c Dr $400

       To Cash A/c              $400

(Being petty cash fund established)

2. Office supplies A/c Dr $110

   Merchandise inventory A/c Dr $140

   Miscellaneous expense A/c Dr $70

                                            To Cash over and short A/c Dr $4  

                                            To Cash A/c Dr $316

(Being disbursement of cash recorded)

Answer 2

Cash = $ 400

Office Supplies = $ 110

Merchandise inventory = $ 140

Other costs = $ 70

Remaining money = $ 4

What is the amount of cash before charging?

Answer = $ 400

Further explanation

Before Pelcher Co. refill the funds, the cash fund initially was $ 400. And after filling the total funds to $ 720 (including office supplies, merchandise inventory, and other costs). Then the funds that have been filled have an excess of cash of $ 4, then the total funds filled are $ 324 (office supplies + merchandise inventory + other costs + remaining money).

Cash is part of the assets arranged in the balance sheet which is located at the top. Because cash is a company's current assets that are ready to be liquidated at any time (liquid). Cash consists of coins, banknotes, checks, demand deposits and money in hand or money in the bank.

Kinds of Cash :

Petty Cash.

Petty cash is part of cash, that is, cash that is provided by companies to pay expenses that are relatively small and not economical when paid by check or demand deposit.

Cash in the Bank

Bank Cash is the amount of cash held at a bank that can be withdrawn at any time. Bank cash is money that a company holds in a bank.

Big Cash

Big cash is cash of large value companies that are deposited in banks. So this big cash is a relatively large amount of company money, this big cash is also stored in the bank.

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definition of companies cash brainly.com/question/13813008

remaining cash brainly.com/question/14019383

details

class: high school

subject: business

keywords: cash, supplies, cost