Petty cash is a current asset and should be listed as a debit on the company balance sheet. To initially fund a petty cash account, the accountant should write a check made out to Petty Cash for the desired amount of cash to keep on hand and then cash the check at the company's bank.
FDIC Insurance for Trust Bank Accounts The Federal Deposit Insurance Corporation (FDIC) insures bank accounts in the event of a bank failure. If you have more than the FDIC limit at a bank that fails, you could lose all or part of the amount that is not covered by the FDIC insurance. Coverage for living trust accounts. Living trust accounts for each trust owner are insured up to $250,000 (subject to some limitations) per beneficiary, regardless of whether the beneficiary is a close relative of the trustor.
You can, however, get more insurance if you are willing to have it go to others when you pass on, but more on that later. The FDIC does consider an IRA a separate depositor and insured separately. Thus, one individual can stash $250,000 in a taxable account and another $250k in an IRA account. Be careful though, Roth IRAs and Traditional IRAs are not considered separately insured from each other. One couple - $2,000,000. Here, each spouse can put away $250K in a taxable account and an IRA, accounting for the first million, as well as an additional $500K with a joint account.