Homework Answers
Journal Entries:
| Date | Account Titles and Explanations | Debit | Credit |
| Apr. 1 | Petty Cash | $350 | |
| Cash | $350 | ||
| (To record the replenishment of petty cash fund) | |||
| Apr. 19 | Miscellaneous Expenses | $84.38 | |
| Postage Expenses | $135 | ||
| Office Expenses | $46.71 | ||
| Cash short or over ($350 - $84.38 - $135 - $46.71 - $70.20) | $13.71 | ||
| Petty Cash ($350 - $70.20) | $279.80 | ||
| (To record the petty cash expenses) | |||
| Apr. 30 | Transportation in | $64.12 | |
| Office Supplies | $92.81 | ||
| Petty Cash | $156.93 | ||
| (To record the petty cash expenses) | |||
| May. 1 | Petty Cash ($350 - $350) | $50 | |
| Cash | $50 | ||
| (To record the replenishment of petty cash fund) |
Add Answer to:
The following transactions relate to the petty cash fund of Jarvis Wrecking Company: Apr. 1 19 The petty cash fund i...
Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions...
Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions during June: June 1. Established a petty cash fund of $860. 12. The cash sales for the day, according to the cash register records, totaled $13,184. The actual cash received from cash sales was $13,205. 30. Petty cash on hand was $65. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: June 2. Store supplies, $95. June...
The petty cash fund of Pronghorn’s Auto Repair Service, a sole proprietorship, contains the following. 1....
The petty cash fund of Pronghorn’s Auto Repair Service, a sole proprietorship, contains the following. 1. Coins and currency $15.60 2. Postage stamps 3.30 3. An I.O.U. from Richie Cunningham, an employee, for cash advance 40.40 4. Check payable to Pronghorn’s Auto Repair from Pottsie Weber, an employee, marked NSF 34.40 5. Vouchers for the following: Stamps $ 20.40 Two Rose Bowl tickets for Nick Pronghorn 189.00 Printer cartridge (Use the Office Supplies account) 14.75 224.15 $317.85 The general ledger...
The petty cash fund of Flounder’s Auto Repair Service, a sole proprietorship, contains the following. 1. Coins and curre...
The petty cash fund of Flounder’s Auto Repair Service, a sole proprietorship, contains the following. 1. Coins and currency $15.40 2. Postage stamps 3.10 3. An I.O.U. from Richie Cunningham, an employee, for cash advance 40.20 4. Check payable to Flounder’s Auto Repair from Pottsie Weber, an employee, marked NSF 34.20 5. Vouchers for the following: Stamps $ 20.20 Two Rose Bowl tickets for Nick Flounder 213.00 Printer cartridge (Use the Office Supplies account) 14.55 247.75 $340.65 The general ledger...
A company established a petty cash fund of $100 on September 1
Problems 1.) A company established a petty cash fund of $100 on September 1. On September 10, the petty cash fund was replenished when there was $16 remaining and there were petty cash receipts for: office supplies, $27; courier, $32; and postage, $22. On September 15, the petty cash fund was increased to $125 in total. Record the above transactions in general journal form.
4. (15 Points). Feathers Co. established a petty cash fund of $150 on October 1. On...
4. (15 Points). Feathers Co. established a petty cash fund of $150 on October 1. On October 10 the petty cash fund was replenished when there was $49 remaining and there were petty cash receipts for: office supplies, $47; transportation-in on inventory purchased, $32; and postage, 522. On October 15, the petty cash fund was decreased to $125 in total. Record the above transactions in general journal form. Date Debit Credit
B. Petty Cash Kamil Inc. maintains a petty cash fund for small expenditures. These transactions occurred...
B. Petty Cash Kamil Inc. maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 Established the petty cash fund by writing a check payable to the petty cash custodian for $250. 15 Replenished the petty cash fund by writing a check for $199.60. On this date, the fund consisted of $50.40 in cash and these petty cash receipts: freight-out $85.10, entertainment expense $42, postage expense $38.00, and miscellaneous expense $32.50. 16...
6A-3. The following transactions occurred in April for Jubilant Co.: 2017 Apr. 1 5 8 15...
6A-3. The following transactions occurred in April for Jubilant Co.: 2017 Apr. 1 5 8 15 Issued check no. 14 for $140 to establish a petty cash fund. Paid $19 from petty cash for postage, voucher no. 1. Paid $17 from petty cash for office supplies, voucher no. 2. Issued check no. 15 to Reliable Corp. for $150 from past purchases on account. Paid $16 from petty cash for office supplies, voucher no. 3. Issued check no. 16 to Rabbit...
E7.23 (LO6) (Petty Cash) The petty cash fund of Teasdale's Auto Repair Service, a sole proprietorship,...
E7.23 (LO6) (Petty Cash) The petty cash fund of Teasdale's Auto Repair Service, a sole proprietorship, contains the following. Coins and currency $ 10.20 Postage stamps 7.90 An I.O.U. from Richie Cunningham, an employee, for cash advance 40.00 Check payable to Teasdale's Auto Repair from Pottsie Weber, an employee, marked NSF 34.00 Vouchers for the following: Stamps $ 20.00 Two Premier Cup tickets for Nick Teasdale 170.00 Printer cleaning 14.35 204.35 $296.45 The general ledger account Petty Cash has...
During October, Cullumber Company experiences the following transactions in establishing a petty cash fund. Oct. 1...
During October, Cullumber Company experiences the following
transactions in establishing a petty cash fund.
Oct. 1
A petty cash fund is established with a check for $146.00
issued to the petty cash custodian.
31
A check was written to reimburse the fund and increase the fund
to $196.00. A count of the petty cash fund disclosed the following
items:
Currency
$59.00
Coins
2.08
Expenditure receipts (vouchers):
Supplies
$24.72
Miscellaneous items
15.02
Postage
38.32
Freight-Out
5.42
Journalize the entries in October...
8-29 The Huron Company keeps a petty cash fund of $80. On June 30 the fund...
8-29 The Huron Company keeps a petty cash fund of $80. On June 30 the fund contained cash of $36.87 and the following petty cash receipts: Office supplies Postage $10.00 27.48 Miscellaneous 5.65 Required: (I) If the company's fiscal year ends June 30, should the petty cash fund be replenished on June 30? Why? (2) How much cash is needed to replenish the petty cash fund? (3) Prepare entries in the company's accounts to record the petty cash pay- ments
Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions during June: June 1. Established a petty cash fund of $860. 12. The cash sales for the day, according to the cash register records, totaled $13,184. The actual cash received from cash sales was $13,205. 30. Petty cash on hand was $65. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: June 2. Store supplies, $95. June...
4. (15 Points). Feathers Co. established a petty cash fund of $150 on October 1. On October 10 the petty cash fund was replenished when there was $49 remaining and there were petty cash receipts for: office supplies, $47; transportation-in on inventory purchased, $32; and postage, 522. On October 15, the petty cash fund was decreased to $125 in total. Record the above transactions in general journal form. Date Debit Credit
B. Petty Cash Kamil Inc. maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 Established the petty cash fund by writing a check payable to the petty cash custodian for $250. 15 Replenished the petty cash fund by writing a check for $199.60. On this date, the fund consisted of $50.40 in cash and these petty cash receipts: freight-out $85.10, entertainment expense $42, postage expense $38.00, and miscellaneous expense $32.50. 16...
6A-3. The following transactions occurred in April for Jubilant Co.: 2017 Apr. 1 5 8 15 Issued check no. 14 for $140 to establish a petty cash fund. Paid $19 from petty cash for postage, voucher no. 1. Paid $17 from petty cash for office supplies, voucher no. 2. Issued check no. 15 to Reliable Corp. for $150 from past purchases on account. Paid $16 from petty cash for office supplies, voucher no. 3. Issued check no. 16 to Rabbit...
During October, Cullumber Company experiences the following
transactions in establishing a petty cash fund.
Oct. 1
A petty cash fund is established with a check for $146.00
issued to the petty cash custodian.
31
A check was written to reimburse the fund and increase the fund
to $196.00. A count of the petty cash fund disclosed the following
items:
Currency
$59.00
Coins
2.08
Expenditure receipts (vouchers):
Supplies
$24.72
Miscellaneous items
15.02
Postage
38.32
Freight-Out
5.42
Journalize the entries in October...
8-29 The Huron Company keeps a petty cash fund of $80. On June 30 the fund contained cash of $36.87 and the following petty cash receipts: Office supplies Postage $10.00 27.48 Miscellaneous 5.65 Required: (I) If the company's fiscal year ends June 30, should the petty cash fund be replenished on June 30? Why? (2) How much cash is needed to replenish the petty cash fund? (3) Prepare entries in the company's accounts to record the petty cash pay- ments
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