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2. Given the following information: Petty cash imprest 43.50 Business meal receipt $600.00 Postage receipts receipt...
Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for the following expenditures: postage,
Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for the following expenditures: postage, $74; transportation-in, $29; delivery expenses, $16; and miscellaneous expenses, $43. Palmona uses the perpetual system in accounting for merchandise inventory. Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $450 on January 8, assuming no...
Petty Cash Journal Entries 1. Based on the following petty cash information, prepare (a) the journal...
Petty Cash Journal Entries 1. Based on the following petty cash information, prepare (a) the journal entry to establish a petty cash fund, and (b) the journal entry to replenish the petty cash fund. If an amount box does not require an entry, leave it blank. When required, enter amounts in dollars and cents. On January 1, 20--, a check was written in the amount of $200 to establish a petty cash fund. During January, the following vouchers were written...
Problem 6-24B Petty cash fund The following data pertain to the petty cash fund of Marsh Company: 1. The petty...
Problem 6-24B Petty cash fund The following data pertain to the petty cash fund of Marsh Company: 1. The petty cash fund was established on an imprest basis at $250 on March 1. 2. On March 31, a physical count of the fund disclosed $13 in currency and coins, vouchers authoriz- ing meal allowances totaling $120, vouchers authorizing purchase of postage stamps of $21, and vouchers for payment of delivery charges of $93. Required a. Prepare all general journal entries...
JOLLTEL LLICS. P 7-10B (L03) Replenishment: G. Cash, $87 PETTY CASH RECORD AND JOURNAL ENTRIES On...
JOLLTEL LLICS. P 7-10B (L03) Replenishment: G. Cash, $87 PETTY CASH RECORD AND JOURNAL ENTRIES On July 1, a petty cash fy was established for $100. The following vouchers were issued during July: Amount 5 Foovuw Date Voucher No. Purpose July 1 office supplies $ 3.00 donation (Goodwill) 15.00 travel expenses 5.00 postage due 2.00 office supplies 4.00 postage due 3.50 phone call 5.00 21 travel expenses 11.00 25 withdrawal by owner (L. Ortiz) 20.00 copier repair (miscellaneous) 18.50 REQUIRED...
Petty Cash Fund Prepare journal entries for each of the following. For a compound transaction, if...
Petty Cash Fund Prepare journal entries for each of the following. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Issued a check to establish a petty cash fund of $450. b. The amount of cash in the petty cash fund is $140. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $182 and miscellaneous selling expense, $115. Record any missing funds in...
The petty cash fund of Ricco's Automotive contained the following items at the end of September...
The petty cash fund of Ricco's Automotive contained the following items at the end of September 2021: Currency and coins Receipts for the following expenditures: Delivery charges Printer paper Paperclips and rubber banda Lent money to an employee Postage Total The petty cash fund was established at the beginning of September with a transfer of $232 from cash to the petty cash account. Required: Prepare the journal entry to replenish the fund at the end of September. (If no entry...
Florence's Florals, a retail business, started a $300 petty cash fund on June 1. Below are...
Florence's Florals, a retail business, started a $300 petty cash fund on June 1. Below are descriptions of the transactions to establish the petty cash fund, disburse petty cash during June, and replenish the petty cash fund on June 30. DATE TRANSACTIONS June 1 Issued Check 550 for $300 to establish a petty cash fund. 5 Paid $38 from the petty cash fund for office supplies, Petty Cash Voucher 1. 8 Paid $39 from the petty cash fund for postage...
Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May
Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the company's fiscal year). May 1 Prepared a company check for $450 to establish the petty cash fund. 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. 4. Paid $140.40 for janitorial expenses. b. Paid $114.62 for miscellaneous expennes. c. Paid postage expenses of $78.30. d. Paid $102.87 to Facebook...
ACC 106 Handout 7: Petty Cash and bank reconciliation Exercise 1: Salle-Peru Co. uses an imprest...
ACC 106 Handout 7: Petty Cash and bank reconciliation Exercise 1: Salle-Peru Co. uses an imprest petty cash system. The fund was established on March 1 with a balance of $150. During March the following petty cash receipts were found in the petty cash box Date Receipt No. For Amount 5/3 Stamp Inventory Freight-out exp. Miscellaneous exp. Travel exp. Miscellaneous exp. The fund was replenished on March 15 when the fund contained $5 cash. Instructions Journalize the entries in March...
Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May
Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the company's fiscal year). May 1 Prepared a company check for $300 to establish the petty cash fund. 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. a. Paid $88 for janitorial expenses. b. Paid $53.68 for miscellaneous expenses. c. Paid postage expenses of $53.50. d. Paid $47.15 to Facebook...
Problem 6-24B Petty cash fund The following data pertain to the petty cash fund of Marsh Company: 1. The petty cash fund was established on an imprest basis at $250 on March 1. 2. On March 31, a physical count of the fund disclosed $13 in currency and coins, vouchers authoriz- ing meal allowances totaling $120, vouchers authorizing purchase of postage stamps of $21, and vouchers for payment of delivery charges of $93. Required a. Prepare all general journal entries...
JOLLTEL LLICS. P 7-10B (L03) Replenishment: G. Cash, $87 PETTY CASH RECORD AND JOURNAL ENTRIES On July 1, a petty cash fy was established for $100. The following vouchers were issued during July: Amount 5 Foovuw Date Voucher No. Purpose July 1 office supplies $ 3.00 donation (Goodwill) 15.00 travel expenses 5.00 postage due 2.00 office supplies 4.00 postage due 3.50 phone call 5.00 21 travel expenses 11.00 25 withdrawal by owner (L. Ortiz) 20.00 copier repair (miscellaneous) 18.50 REQUIRED...
The petty cash fund of Ricco's Automotive contained the following items at the end of September 2021: Currency and coins Receipts for the following expenditures: Delivery charges Printer paper Paperclips and rubber banda Lent money to an employee Postage Total The petty cash fund was established at the beginning of September with a transfer of $232 from cash to the petty cash account. Required: Prepare the journal entry to replenish the fund at the end of September. (If no entry...
Florence's Florals, a retail business, started a $300 petty cash fund on June 1. Below are descriptions of the transactions to establish the petty cash fund, disburse petty cash during June, and replenish the petty cash fund on June 30. DATE TRANSACTIONS June 1 Issued Check 550 for $300 to establish a petty cash fund. 5 Paid $38 from the petty cash fund for office supplies, Petty Cash Voucher 1. 8 Paid $39 from the petty cash fund for postage...
ACC 106 Handout 7: Petty Cash and bank reconciliation Exercise 1: Salle-Peru Co. uses an imprest petty cash system. The fund was established on March 1 with a balance of $150. During March the following petty cash receipts were found in the petty cash box Date Receipt No. For Amount 5/3 Stamp Inventory Freight-out exp. Miscellaneous exp. Travel exp. Miscellaneous exp. The fund was replenished on March 15 when the fund contained $5 cash. Instructions Journalize the entries in March...
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