Homework Answers
Solution:
| Journal Entries | |||
| Date | Particulars | Debit | Credit |
| 1-Feb | Petty Cash Dr | $200.00 | |
| To Cash | $200.00 | ||
| (To establish petty cash fund) | |||
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Required information случка су му се View transaction list Journal entry worksheet Recall on February 1,...
Knowledge Check 01 On February 1, Derrick Company establishes a $200 petty cash fund. Complete the...
Knowledge Check 01 On February 1, Derrick Company establishes a $200 petty cash fund. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus. Knowledge Check 01 Recall on February 1, Derrick Company established a $200 petty cash fund. On February 15, when the fund balance reached $7, the petty cash custodian prepared a petty cash report that summarized receipts for postage (5140) and printing (554) Complete the necessary journal entry by selecting...
Recall on February Derrick Company established a $200 petty cash fund
Knowledge Check 01 Recall on February Derrick Company established a $200 petty cash fund. On February 15, when the fund balance reached 57 the petty cash custodian prepared a petty cash report that summarized receipts for postage and printing 1554. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menusRecall on February 1, Derck Company established a $200 petty cash fund. On February 15, when the fund balance reached the pretty cash custodian prepared...
Hey I need help with this journal entry. I'm unsure if I did it right. 3....
Hey I need help with this journal entry. I'm unsure if I did it
right.
3. Z-Mart established a petty cash fund recently and the following transactions affecting the fund occurred during February (8 points): Feb 1 5 8 18 20 25 Established a $250 petty cash fund. Paid $55 to replenish office supplies. Gave $30 to company controller for business lunch with customers. Paid S45 for postage. Paid S65 C.O.D. charges on merchandise purchased for sale. Paid $50 for...
Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses...
Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory. Feb. 2 wrote a $360 check to establish a petty cash fund. 5 Purchased paper for the copier for $15.75 that is immediately used. 9 Paid $44.50 shipping charges transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. 12 Paid $7.55 postage to deliver a contract to a...
Required information View transaction list Part 5 of 5 Journal entry worksheet 1.25 points 2 3...
Required information View transaction list Part 5 of 5 Journal entry worksheet 1.25 points 2 3 4 5 6 7 8 eBook Replaced the April 20 account payable to Locust with a 90-day, 7%, $35,000 note payable along with paying $500 in cash. Print References Note: Enter debits before credits. Date General Journal Debit Credit May 19 Record entry Clear entry View general journal < Prev 8 of 8 Next >
Required information View transaction list Journal entry worksheet On December 1, J. Smith invests $30,000 cash...
Required information View transaction list Journal entry worksheet On December 1, J. Smith invests $30,000 cash to start operations. Note: Enter debits before credits. General Journal Date Dec 01 Credit Debit 30,000 Cash Actpunts payable Clear entry Record entry View general journal < Prey 1 2 3 - 6 of 26
answer required 1-3 Problem 6-3A Establishing, reimbursing, and increasing petty cash LO P2 Nakashima Gallery had...
answer required 1-3
Problem 6-3A Establishing, reimbursing, and increasing petty cash LO P2 Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory Feb. 2 Wrote a $340 check to establish a petty cash fund. 5 Purchased paper for the copier for $16.55 that is immediately used. 9 Paid $32.se shipping charges (transportation-in) on merchandise purchased for resale, terns FOB shipping point. These costs are added...
View transaction list Journal entry worksheet 56 On September 1, WTI agreed to do five courses...
View transaction list Journal entry worksheet 56 On September 1, WTI agreed to do five courses for a client for $2,400 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $12,000 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal...
Not sure how to do this or if im on the right track can anyone help?...
Not sure how to do this or if im on the right track can anyone
help?
Cameron Co. established a $166 petty cash fund on January 1, 2020. One week later, on January 8, the fund contained $32.29 in cash and receipts for these expenditures: postage, $46.48; transportation-in, $29.88; store supplies, $36.27; and a withdrawal of $21.08 by Jim Cameron, the owner. Cameron uses the perpetual method to account for merchandise inventory. a. Prepare the journal entry to establish the...
Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses...
Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory. 2 Wrote a S360 check to establish a petty cash fund 5 Purchased paper for the copier for $15.75 that is immediately used 9 Paid $42.50 shipping charges (transportation -in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory 12 Paid $8.35 postage to deliver a contract to a...
Knowledge Check 01 On February 1, Derrick Company establishes a $200 petty cash fund. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus. Knowledge Check 01 Recall on February 1, Derrick Company established a $200 petty cash fund. On February 15, when the fund balance reached $7, the petty cash custodian prepared a petty cash report that summarized receipts for postage (5140) and printing (554) Complete the necessary journal entry by selecting...
Hey I need help with this journal entry. I'm unsure if I did it
right.
3. Z-Mart established a petty cash fund recently and the following transactions affecting the fund occurred during February (8 points): Feb 1 5 8 18 20 25 Established a $250 petty cash fund. Paid $55 to replenish office supplies. Gave $30 to company controller for business lunch with customers. Paid S45 for postage. Paid S65 C.O.D. charges on merchandise purchased for sale. Paid $50 for...
Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory. Feb. 2 wrote a $360 check to establish a petty cash fund. 5 Purchased paper for the copier for $15.75 that is immediately used. 9 Paid $44.50 shipping charges transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. 12 Paid $7.55 postage to deliver a contract to a...
Required information View transaction list Part 5 of 5 Journal entry worksheet 1.25 points 2 3 4 5 6 7 8 eBook Replaced the April 20 account payable to Locust with a 90-day, 7%, $35,000 note payable along with paying $500 in cash. Print References Note: Enter debits before credits. Date General Journal Debit Credit May 19 Record entry Clear entry View general journal < Prev 8 of 8 Next >
Required information View transaction list Journal entry worksheet On December 1, J. Smith invests $30,000 cash to start operations. Note: Enter debits before credits. General Journal Date Dec 01 Credit Debit 30,000 Cash Actpunts payable Clear entry Record entry View general journal < Prey 1 2 3 - 6 of 26
answer required 1-3
Problem 6-3A Establishing, reimbursing, and increasing petty cash LO P2 Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory Feb. 2 Wrote a $340 check to establish a petty cash fund. 5 Purchased paper for the copier for $16.55 that is immediately used. 9 Paid $32.se shipping charges (transportation-in) on merchandise purchased for resale, terns FOB shipping point. These costs are added...
View transaction list Journal entry worksheet 56 On September 1, WTI agreed to do five courses for a client for $2,400 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $12,000 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal...
Not sure how to do this or if im on the right track can anyone
help?
Cameron Co. established a $166 petty cash fund on January 1, 2020. One week later, on January 8, the fund contained $32.29 in cash and receipts for these expenditures: postage, $46.48; transportation-in, $29.88; store supplies, $36.27; and a withdrawal of $21.08 by Jim Cameron, the owner. Cameron uses the perpetual method to account for merchandise inventory. a. Prepare the journal entry to establish the...
Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory. 2 Wrote a S360 check to establish a petty cash fund 5 Purchased paper for the copier for $15.75 that is immediately used 9 Paid $42.50 shipping charges (transportation -in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory 12 Paid $8.35 postage to deliver a contract to a...
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