Problem 6During August, several minor activities involving petty cash funds occurred at the Wittleston Inn.a. On August 1, a petty cash fund was established in the amount of $100.b. On August 10, the fund was replenished, since it had a $12 balance. The written receipts were asfollows:Fresh fruit (food)30Gasoline for mowing of lawn25COD for package for guest$ 35c. On August 20, the fund was replenished and the written receipts were as follows:Stamps$50Fresh fruitShipping charges to UPSOffice supplies$SA SA$Office supplies$40d. On August 31, the petty cash fund, with a $5 balance, was replenished and the following receiptswere:$SA SA$$304024

During August, several minor activities involving petty cash funds occurred at the Wittleston Inn. a. On August 1, a petty cash fund was established in the amount of $100. b. On August 10, the fund was replenished, since it had a $12 balance. The written receipts were a follows: Fresh fruit (food) Gasoline for mowing of lawn COD for package for guest $ 35 c. On August 20, the fund was replenished and the written receipts were as follows: Stamps $ 50 $ 30 $ 25 Office supplies $ 40 d. On August 31, the petty cash fund, with a $5 balance, was replenished and the following recei were: Fresh fruit Shipping charges to UPS 69 69 $ $ 30 40

During August, several minor activities involving petty cash funds occurred at the Wittleston Inn. a. On August 1, a petty cash fund was established in the amount of $100. b. On August 10, the fund was replenished, since it had a $12 balance. The written receipts were a follows: Fresh fruit (food) Gasoline for mowing of lawn COD for package for guest $ 35 c. On August 20, the fund was replenished and the written receipts were as follows: Stamps $ 50 $ 30 $ 25 Office supplies $ 40 d. On August 31, the petty cash fund, with a $5 balance, was replenished and the following recei were: Fresh fruit Shipping charges to UPS 69 69 $ $ 30 40

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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Record entry for recognition of expenses and replenishment of the fund, record entry for reimbursements made by employee, record entry for petty cash found.
On September 1, French company has decided to initiate a petty cash fund in the amount of $850. A. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $120, Postage Expense $260, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $111. B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $19, Supplies $170, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $230. C. On September 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $251, Supplies $90, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $251. The cash on hand at this time was $20. D. On September 29, the company determined that the petty cash fund needed to be increased to $1,000. E. On September 30, the petty…
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Wyoming Restoration Company completed the following selected transactions during July 20Y1: July 1. 12. 31. July 3. 7. 9. 13. 19. 21. 22. 24. 30. July 31. 31. Established a petty cash fund of $1,100. The cash sales for the day, according to the cash register records, totaled $8,192. The actual cash received from cash sales was $8,220. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: Store supplies, $580. Express charges on merchandise sold, $90 (Delivery Expense). Office supplies, $30. Office supplies, $35. Postage stamps, $50 (Office Supplies). Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense). Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense). Express charges on merchandise sold, $135 (Delivery Expense). Office supplies, $25. The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash received from…
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