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PETTY CASH

Quiz by Khatoon Ahmed Mansoor AL Halwachi

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7 questions
Show answers
  • Q1
    Journal Entries to Establishment a petty cash fund:
    Dr. Cash Cr. Petty Cash
    Dr. Expense Cr. Cash
    Dr. Petty Cash Credit Cash
    30s
  • Q2
    Journal Entries to Replenishment (Reimbursement) a petty cash fund:
    Dr. Petty Cash Credit Cash
    Dr. Expense Cr. Cash
    Dr. Cash Cr. Petty Cash
    30s
  • Q3
    Journal Entries to Increase a petty cash fund:
    Dr. Expense Cr. Cash
    Dr. Cash Cr. Petty Cash
    Dr. Petty Cash Credit Cash
    30s
  • Q4
    Journal Entries to decrease a petty cash fund:
    Dr. Petty Cash Credit Cash
    Dr. Cash Cr. Petty Cash
    Dr. Expense Cr. Cash
    30s
  • Q5
    A petty cash fund is usually reimbursed at
    the end of an accounting period
    the beginning of an accounting period
    the med of an accounting period
    30s
  • Q6
    ALI company establishes a BD500 petty cash fund on March 5,2020 the necessary journal entries will be ...
    Debit petty cash 500; Credit Account receivable 500
    Debit petty cash 500; Credit cash 500
    Debit cash 500; Credit petty cash 500
    30s
  • Q7
    Following for the pervious question no.6 for ALI company, On October 1, 2020, the petty cashier decreased the petty cash fund to BD450 and petty cash was BD 500, so the journal entry will be
    Debit petty cash 50; Credit cash 50
    Debit cash 450; Credit petty cash 450
    Debit cash 50; Credit petty cash 50
    30s

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