der the following transactions. 1. Receive cash from customers, $16,600. 2. Pay cash for employee salaries, $10,600. 3. Pay cash for rent, $4,600. 4. Receive cash from sale of equipment, $9,600. 5. Pay cash for utilities, $2,600. 6. Receive cash from a bank loan, $5,600. 7. Pay cash for advertising, $8,600. 8. Purchase supplies on account, $4,600. Required: Post transactions to the Cash T-account and calculate the ending balanc Debit Beginning Balance Ending Balance Cash 22,600 Credit

der the following transactions. 1. Receive cash from customers, $16,600. 2. Pay cash for employee salaries, $10,600. 3. Pay cash for rent, $4,600. 4. Receive cash from sale of equipment, $9,600. 5. Pay cash for utilities, $2,600. 6. Receive cash from a bank loan, $5,600. 7. Pay cash for advertising, $8,600. 8. Purchase supplies on account, $4,600. Required: Post transactions to the Cash T-account and calculate the ending balanc Debit Beginning Balance Ending Balance Cash 22,600 Credit

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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A $115 petty cash fund has cash of $22 and receipts of $83. The journal entry to replenish the account would include a a.debit to Cash for $22. b.credit to Petty Cash for $83. c.credit to Cash for $115. d.debit to Cash Short and Over for $10.
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prepare the journal entries and state the impact each transaction had on net income
Prepare a cash payments journal and then record the following cash payments transactions. July 5 Issued Check No. 910 to Kam Corp. to buy store supplies for $500. 13 Issued Check No. 911 for $4,000 to pay off a note payable to China Bank. 24 Issued Check No. 912 to Lim to pay the amount due from a July 16 purchase less the discount of $20. It purchased merchandise for $1,000 on credit from Lim, terms 2/10, n/30. 29 Paid salary of $700 to B. Tung by issuing Check No. 913.
Record the following transactions: A. Started a petty cash fund in the amount of $ 1,500. B. Replenished petty cash fund using the following expenses: Auto $ 24, Office Expenses $ 53, Postage Expense $ 19, Miscellaneous Expenses $ 25. Cash on hand is $ 389. C. The company has decided to reduce the petty cash fund to $ 600.
New Store has the following information at August 31: attached in ss below thanks for help hwrphwtphtowh w
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A. Started a petty cash fund in the amount of $250.B. Replenished petty cash fund using the following expenses: Auto Expense $17, Office Expense $15, Postage Expense $86, Miscellaneous Expense $74. Cash on hand is $35.C. Increased petty cash by $150. Record these transactions. If an amount box does not require an entry, leave it blank.
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
Post the differences between the cash count and the cash register tape to the Cash Short and Over T account. Assume a change fund of $100. Date Cash Register Tape Cash Count March 3 $1,495.89 $1,601.89 4 1,878.55 1,986.55 5 741.76 843.76 6 1,646.62 1,744.62 7 1,714.13 1,814.13 When required, enter amounts in dollars and cents.
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B. Problem (please refer to the picture.)