The journal entries are as follows -
Particulars | Debit | Credit |
Petty Cash Account | 200 | |
Bank Account | 200 | |
(JE to establish the fund) | ||
Postage Expense | 13 | |
Petty Cash Account | 13 | |
Miscellaneous Expense | 17 | |
Petty Cash Account | 17 | |
Drawings Account | 45 | |
Petty Cash Account | 45 | |
Phone Expenses | 36 | |
Petty Cash Account | 36 | |
Charitable Contributions Expenses | 50 | |
Petty Cash Account | 50 | |
Automobile Expenses | 29 | |
Petty Cash Account | 29 | |
Petty Cash Account | 190 | |
Bank Account | 190 | |
(JE to replenish the fund) |
CHAPTER 7 Ex 103) Cash, 5150 $13 PETTY CASH JOURNAL ENTRIES Bed on the following petty...
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...
26. Journalize the entries to record the following: Sept. 1 Established a petty cash fund of $350. 30 The amount of cash in the petty cash fund is now $130. The fund is replenished based on the following receipts: office supplies, S116; postage, $100.Record any missing funds in the cash short and over account. Journal Date Description Post. Ref. Debit Credit Copyright Cengage Learning. Powered by Cognero 25. Using the following information, prepare a bank reconciliation for Miller Co. for...
Task#2 Petty Cash. Bank Reconciliation) Jonni Jones is reviewing the cash accounting for London, Inc, a local hair salon Jones review will focun on de pt cash accoumt and the bank reconciliation for the month ended September 30, 2020 She bas collected he following information from London's bookkeeper for this task Petty Cash The petty cash fund was established on September 2, 2020, in the amount of 5300. 2. Expenditures from the fund by the custodian as of September 30,...
1. Havermill Co. establishes a $490 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $97 for Office Supplies, $185 for merchandise inventory, and $46 for miscellaneous expenses. The fund has a balance of $162. On October 1, the accountant determines that the fund should be increased by $98. The journal entry to record the establishment of the fund on September 1 is: 2. A company wants to decrease...
E5-5 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4] [The following information applies to the questions displayed below.] Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: E5-5 Part 1 Required: 1. Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted...
A 1 1 H K 2 CHANGE FUND & PETTY CASH JOURNAL ENTRIES 4 a Established a petty cash fund of $400 Replenished the petty cash fund based on the following disbursements as indicated by a summary of the petty cash receipts office supplies b. expense, $24.50, miscellaneous administrative expense, $33.75, miscellaneous selling expense, $ 31.60 5 6 C. Increased the petty cash fund by $100 to a balance of $500. 7 8 10 JOURNAL ENTRIES Accounts DR CR 11...
thannel Aromal CHAPTER 7 W REQUIRED 1. Prepare a bank reconciliations of November 30, 20 2. Prepare the required journal entries. LO2) ha BANK RECONCILIATION AND RELATED JOURNAL ENTRIES The book 1 ance in the checking account of Toril Health Centers of April 30 is $4.690.30- bank statement shows an ending balance of $3,275.60. By g last mon bank reconciliation, comparing the deposits and checks written per books and bank in April, and noting the service charges and other debt...
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...
I need journal entries Help Save & Ex Chec 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 $350 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 $199.20 for janitorial expenses. b. Paid...
A small company maintains a petty cash fund for minor expenditures. In June and July 2011, the following transactions took place:1. The fund was established in the amount of $100.00 on June 1 from the proceeds of check no. 2707.2. On June 30, the petty cash fund had cash of $15.46 and the following receipts on hand: postage, $40.00; supplies, $24.94; delivery service, $12.40; and rubberstamp, $7.20. Check no. 2778 was drawn to replenish the fund.3. On July 31, the...