Homework Answers
| Date | Account | Debit | Credit |
| Sep 4 | Petty cash | 350 | |
| Cash | 350 | ||
| Sep 30 | Entertainment expenses | 75 | |
| Repair and maintenance expenses | 105 | ||
| Postage expenses | 60 | ||
| Delivery expenses | 70 | ||
| Petty cash | 310 | ||
| Sep 30 | petty cash | 75 | |
| Cash (350-275) | 75 |
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Halle's Berry Farm establishes a $350 petty cash fund on September 4 to pay for minor...
Halle's Berry Farm establishes a $350 petty cash fund on September 4 to pay for minor...
Halle's Berry Farm establishes a $350 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of September, the fund contains $271 in cash. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Entertainment for office party (petty cash) Lawn maintenance (credit card) Postage (credit card) Fuel for deliveries (credit...
Halle's Berry Farm establishes a $400 petty cash fund on September 4 to pay for minor...
Halle's Berry Farm establishes a $400 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of September, the fund contains $312 in cash. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Entertainment for office party (petty cash) $88 Lawn maintenance (credit card) 118 Postage...
Waupaca Company establishes a $330 petty cash fund on September 9. On September 30, the fund...
Waupaca Company establishes a $330 petty cash fund on September 9. On September 30, the fund shows $77 in cash along with receipts for the following expenditures: transportation-in, $52postage expenses, $58; and miscellaneous expenses, $132. The petty cashier could not account for a $11 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3)...
Waupaca Company establishes a $430 petty cash fund on September 9. On September 30, the fund...
Waupaca Company establishes a $430 petty cash fund on September 9. On September 30, the fund shows $137 in cash along with receipts for the following expenditures: transportation-in, $55; postage expenses, $79; and miscellaneous expenses, $150. The petty cashier could not account for a $9 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and...
Halle’s Berry Farm establishes a $200 petty cash fund on September 4 to pay for minor...
Halle’s Berry Farm establishes a $200 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of September, the fund contains $30 in cash. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Entertainment for office party (petty cash) $ 170 Lawn maintenance (credit card) 420 Postage (credit card) 575...
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...
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...
Exercise 6-10 Petty cash fund accounting LO P2 Palmona Co. establishes a $320 petty cash fund...
Exercise 6-10 Petty cash fund accounting LO P2 Palmona Co. establishes a $320 petty cash fund on January 1. On January 8, the fund shows $217 in cash along with receipts for the following expenditures: postage, $45; transportation-in, $11; delivery expenses, $13; and miscellaneous expenses, $34. 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...
Palmona Co. establishes a $180 petty cash fund on January 1. On January 8, the fund...
Palmona Co. establishes a $180 petty cash fund on January 1. On January 8, the fund shows $89 in cash along with receipts for the following expenditures: postage, $38; transportation-in, $12; delivery expenses, $14; and miscellaneous expenses, $27. Palmona uses the perpetual system in accounting for merchandise inventory. nts eBook Hint 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 $230 on...
Waupaca Company establishes a $470 petty cash fund on September 9. on September 30, the fund...
Waupaca Company establishes a $470 petty cash fund on September 9. on September 30, the fund shows $255 in cash along with receipts for the following expenditures: transportation-in, $45; postage expenses, $58; and miscellaneous expenses, $110. The petty cashier could not account for a $2 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and...
Halle's Berry Farm establishes a $350 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of September, the fund contains $271 in cash. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Entertainment for office party (petty cash) Lawn maintenance (credit card) Postage (credit card) Fuel for deliveries (credit...
Waupaca Company establishes a $330 petty cash fund on September 9. On September 30, the fund shows $77 in cash along with receipts for the following expenditures: transportation-in, $52postage expenses, $58; and miscellaneous expenses, $132. The petty cashier could not account for a $11 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3)...
Waupaca Company establishes a $430 petty cash fund on September 9. On September 30, the fund shows $137 in cash along with receipts for the following expenditures: transportation-in, $55; postage expenses, $79; and miscellaneous expenses, $150. The petty cashier could not account for a $9 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and...
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...
Exercise 6-10 Petty cash fund accounting LO P2 Palmona Co. establishes a $320 petty cash fund on January 1. On January 8, the fund shows $217 in cash along with receipts for the following expenditures: postage, $45; transportation-in, $11; delivery expenses, $13; and miscellaneous expenses, $34. 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...
Palmona Co. establishes a $180 petty cash fund on January 1. On January 8, the fund shows $89 in cash along with receipts for the following expenditures: postage, $38; transportation-in, $12; delivery expenses, $14; and miscellaneous expenses, $27. Palmona uses the perpetual system in accounting for merchandise inventory. nts eBook Hint 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 $230 on...
Waupaca Company establishes a $470 petty cash fund on September 9. on September 30, the fund shows $255 in cash along with receipts for the following expenditures: transportation-in, $45; postage expenses, $58; and miscellaneous expenses, $110. The petty cashier could not account for a $2 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and...
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