7.13 Manuel's petty cash box contained the following items on 30 November:CashExpense vouchers:PrintingTea & BiscuitsTaxi faresSundry Expenses$178.6043.8071.6084.8051.20Required:(a) What should the opening balance be in the petty cash fund asset account?(b) Show the journal entry for the reimbursement amount?(c) Determine the balance in the petty cash box before the reimbursement.

a) Opening Balance in the Petty Cash Fund Asset Account: To determine the opening balance in the…

Answered: 7.13 Manuel's petty cash box contained…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bonita Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 15 16 31 Established the petty cash fund by writing a check payable to the petty cash custodian for $215. Replenished the petty cash fund by writing a check for $211.20. On this date, the fund consisted of $3.80 in cash and these petty cash receipts: freight-out $94, entertainment expense $45.90, postage expense $41.40, and miscellaneous expense $28.00. Increased the amount of the petty cash fund to $320 by writing a check for $105.00. Replenished the petty cash fund by writing a check for $304.30. On this date, the fund consisted of $15.70 in cash and these petty cash receipts: postage expense $142.00, entertainment expense $93.80, and freight-out $67.30. Journalize the petty cash transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2…
If cash on hand is $20, prepare the entry to replenish the petty cash on December 31. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts PR Dr. Cr. More Info Dec. 31 Cash Short and Over Donations Expense 15 201X Miscellaneous Expense 19 December 1 A $108 petty cash fund is established. Office Supplies Expense 26 31 At end of the month, the following paid vouchers exist: donations expense, $15; postage expense, $13; office supplies expense, $26; miscellaneous expense, $19. Postage Expense 13 Cash Print Done
Hello, I need to do a general journal with the following directions: On May 1, a petty cash fund was established for $200 by the owner, Ilika Cash. The following vouchers were issued during the month. Prepare the journal entries to (a) establish the petty cash fund on May 1 and (b) replenish the petty cash fund on May 31. Date Voucher No. Purpose Amount 6 4-1 Office supplies 12.00 8 4-2 Taxi fare for customer (travel expense) 27.00 12 4-3 Postage due (Postage Expense) 4.00 17 4-4 Donation (Misc. Expense) 20.00 30 4-6 Ilika withdrew for personal use 50.00
E8.8
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The Tempest Company is setting a petty cash. 1A-Prepare the entry to set up a petty cash for three hundred dollars. What is the debit in the entry to set up the petty cash? 18-Prepare the entry to set up a petty cash for three hundred dollars. What is the credit in the entry to set up the petty cash? 2A-Prepare the entry to reimburse the petty cash at the end of the month. The petty cashier had the following receipts: Postage $30, Delivery cots to the Comany $120, Delivery costs from the company to their customers $90, Supplies $40, Cash remaining $15. What are the DEBIT(S) in the entry to reimburse the petty cash? 28-Prepare the entry to reimburse the petty cash at the end of the month. The petty cashier had the following receipts: Postage $30, Delivery cots to the Comany $120, Delivery costs from the company to their customers $90, Supplies $40, Cash remaining $15. What are the CREDIT(S) in the entry to reimburse the petty cash? What is the amount of the cash over and short?…
A $73 petty cash fund has cash of $17 and receipts of $66. The journal entry to replenish the account would include a a.credit to Cash for $73 b.credit to Petty Cash for $66 c.credit to Cash Short and Over for $10 d.debit to Cash for $17
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Question 5 of 6 View Policies Date Receipt No. 3/5 7 Current Attempt in Progress Sheridan Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $105. During March, the following petty cash receipts were found in the petty cash box. 9 11 14 1 2 3 4 For Stamps Freight-Out Miscellaneous Expense Travel Expense Miscellaneous Expense Amount $32 13 14 31 -/12 7 : The fund was replenished on March 15 when the fund contained $5 in cash. On March 20, the amount in the fund was increased to $200.
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From the following, record the transactions in Bush's auxiliary petty cash record and general journal as needed: A (Click the icon to view the transactions.) Date Account Titles PR Dr. Cr. Oc. 17 Transaction not recorded in the general journal October 27: Purchased computer supplies from petty cash for $14, voucher no. 6. 1 More Info Journal Entry Date Account Titles PR Dr. Cr. Oc. 27 Transaction not recorded in the general journal 201X A check was drawn (no. 444) payable to Ed Brown, petty cashier, to establish a $210 petty cash fund. 5. Oct. 1 Paid $21 for postage stamps, voucherno. 1. Paid $8 for delivery charges on goodbr resale, voucher no. 2. Paid $14 for donation to a church (miscellaneous expense), voucher no. 3. Paid $6 for postage stamps, voucher no. 4. Paid $25 for delivery charges on goods for resale, voucher no. 5. 9. 12 October 28: Paid $13 for postage, voucher no. 7. 14 17 Journal Entry 27 Purchased computer supplies from petty cash for $14, voucher no. 6. Date 28 Paid…
A $84 petty cash fund has cash of $17 and receipts of $72. The journal entry to replenish the account would include a Oa. credit to Cash Short and Over for $5 Ob. debit to Cash for $17 Oc. credit to Cash for $84 Od. credit to Petty Cash for $72

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