Homework Answers
Journal
| (a) | April 3 | Petty cash | 135 | |
| Cash | 135 | |||
| (b) | April 11 | Postage expense | 32.75 | |
| Contributions and donations | 25.25 | |||
| Meals and entertainment | 68 | |||
| Cash short and over | 0.75 | |||
| Cash | 125.25 | |||
| (c) | April 12 | Petty cash | 40 | |
| Cash | 40 |
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34. On April 3, Snappy Sales decides to establish a $135 petty cash fund to relieve...
On April 2, Granger Sales decides to establish a $380 petty cash fund to relieve the burden on Accounting. Required:...
On April 2, Granger Sales decides to establish a $380 petty cash fund to relieve the burden on Accounting. Required: (a) Journalize the establishment of the fund. (b) On April 10, the petty cash fund has receipts for mail and postage of $64, contributions and donations of $36, meals and entertainment of $92 and $186 in the ending cash balance. Journalize the replenishment of the fund (c) On April 11, Granger Sales decides to increase petty cash to $520. Journalize...
On April 2, Granger Sales decides to establish a $380 petty cash fund to relieve the burden on Accounting. Required:...
On April 2, Granger Sales decides to establish a $380 petty cash
fund to relieve the burden on Accounting.
Required:
(a)
Journalize the establishment of the fund.*
(b)
On April 10, the petty cash fund has receipts for mail and
postage of $64, contributions and donations of $36, meals and
entertainment of $92, and $186 in the ending cash balance.
Journalize the replenishment of the fund.*
(c)
On April 11, Granger Sales decides to increase petty cash to
$520. Journalize...
1. A petty cash fund of $175 was established on April 1. Year 1. 2. Employees...
1. A petty cash fund of $175 was established on April 1. Year 1. 2. Employees were reimbursed when they presented petty cash vouchers to the petty cash custodian. 3. On April 30, Year 1, the petty cash fund contained vouchers totaling $152.78 plus $23.12 of currency. Required Answer the following questions: a. How did the establishment of the petty cash fund affect (increase, decrease, or have no effect on) total assets? Increase Decrease No effect b. What is the...
*E7.22B (L0 6)(Petty Cash) Velez, Inc. decided to establish a petty cash fund to help ensure...
*E7.22B (L0 6)(Petty Cash) Velez, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April: 1 On April 1, it established a petty cash fund in the amount of $1,000. 2 A summary of the petty cash expenditures made by the petty cash custodian as of April 10 is as follows. Delivery charges paid on merchandise purchased $300.00 Supplies purchased and used...
5 - Journalize the following transactions related to petty cash. On 3/1 Your Co. decides to...
5 - Journalize the following transactions related to petty cash. On 3/1 Your Co. decides to establish a petty cash fund and takes $100 of cash out of its checking account & puts it into petty cash. On 3/16 Your Co, replenishes the petty cash fund. The fund had $10 cash left and receipts as follows: postage $30, office supplies $20, and miscellaneous $50. On 3/18 Your Co. decides to increase the petty cash fund by $50. On 3/31 Your...
T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $500. By...
T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $500. By the end of April, the fund has a cash balance of $397. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Utilities (credit card) $ 135 Entertainment (petty cash) 44 Stamps (petty cash) 59 Plumbing repair services (credit card) 230 Required: Record the establishment of the petty cash fund...
*E7.22 (LO 6) (Petty Cash) Carolyn Keene, Inc. decided to establish a petty cash fund to...
*E7.22 (LO 6) (Petty Cash) Carolyn Keene, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April. 1. On April 1, it established a petty cash fund in the amount of $200. 2. A summary of the petty cash expenditures made by the petty cash custodian as of April 10 is as follows. Delivery charges paid on merchandise purchased $60.00 Supplies purchased...
Assume a company holds a $200 Petty Cash fund. It expends $135 as follows: $60 for...
Assume a company holds a $200 Petty Cash fund. It expends $135 as follows: $60 for delivery expenses, $40 for postage, $35 for office supplies. There is $30 of cash remaining in the fund. The accountant wishes to reduce the petty cash fund to $175. The journal entry to replenish the petty cash fund and reduce the balance of the fund includes A credit to Office supplies expense for $35 A debit to Cash over/short for $15 A credit to...
T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $500. By the end of April, the fund has a ca...
T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $500. By the end of April, the fund has a cash balance of $413. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Utilities (credit card)$127Entertainment (petty cash)36Stamps (petty cash)51 Plumbing repair services (credit card)222 Required: 1. Record the establishment of the petty cash fund on April 3. 2. Record credit card expenditures during the month....
T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $450. By...
T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $450. By the end of April, the fund has a cash balance of $381. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Utilities (credit card) Entertainment (petty cash) Stamps (petty cash) Plumbing repair services (credit card) $118 27 42 213 Required: 1. Record the establishment of the petty cash fund...
On April 2, Granger Sales decides to establish a $380 petty cash fund to relieve the burden on Accounting. Required: (a) Journalize the establishment of the fund. (b) On April 10, the petty cash fund has receipts for mail and postage of $64, contributions and donations of $36, meals and entertainment of $92 and $186 in the ending cash balance. Journalize the replenishment of the fund (c) On April 11, Granger Sales decides to increase petty cash to $520. Journalize...
On April 2, Granger Sales decides to establish a $380 petty cash
fund to relieve the burden on Accounting.
Required:
(a)
Journalize the establishment of the fund.*
(b)
On April 10, the petty cash fund has receipts for mail and
postage of $64, contributions and donations of $36, meals and
entertainment of $92, and $186 in the ending cash balance.
Journalize the replenishment of the fund.*
(c)
On April 11, Granger Sales decides to increase petty cash to
$520. Journalize...
1. A petty cash fund of $175 was established on April 1. Year 1. 2. Employees were reimbursed when they presented petty cash vouchers to the petty cash custodian. 3. On April 30, Year 1, the petty cash fund contained vouchers totaling $152.78 plus $23.12 of currency. Required Answer the following questions: a. How did the establishment of the petty cash fund affect (increase, decrease, or have no effect on) total assets? Increase Decrease No effect b. What is the...
5 - Journalize the following transactions related to petty cash. On 3/1 Your Co. decides to establish a petty cash fund and takes $100 of cash out of its checking account & puts it into petty cash. On 3/16 Your Co, replenishes the petty cash fund. The fund had $10 cash left and receipts as follows: postage $30, office supplies $20, and miscellaneous $50. On 3/18 Your Co. decides to increase the petty cash fund by $50. On 3/31 Your...
T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $500. By the end of April, the fund has a cash balance of $413. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Utilities (credit card)$127Entertainment (petty cash)36Stamps (petty cash)51 Plumbing repair services (credit card)222 Required: 1. Record the establishment of the petty cash fund on April 3. 2. Record credit card expenditures during the month....
T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $450. By the end of April, the fund has a cash balance of $381. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Utilities (credit card) Entertainment (petty cash) Stamps (petty cash) Plumbing repair services (credit card) $118 27 42 213 Required: 1. Record the establishment of the petty cash fund...
Most questions answered within 3 hours.
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A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
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