H1.Account During October, Splish Brothers Lighting Company experiences the following activities related to its petty cash fund:Oct. 1 A petty cash fund is established with a check for $180.00 issued to the petty cash custodian.A count of the petty cash fund disclosed the following items used for replenishment:Currency3131CoinsExpenditure receipts (vouchers):Office supplies (asset)Telephone, Internet, and fax (misc. exp.)PostageFreight-outThe fund was increased to $210.$27.7029.3090.009.80$19.000.20 DateAccount Titles and Explanation(To replenish petty cash fund)Show Transcribed TextĆDebitCredit

Petty cash is the amount which is kept with the cashier of the business entity to meet up the daily…

During October, Splish Brothers Lighting Company experiences the following activities related to its petty cash fund: Oct. 1 A petty cash fund is established with a check for $180.00 issued to the petty cash custodian. 31 A count of the petty cash fund disclosed the following items used for replenishment: Currency 31 Coins Expenditure receipts (vouchers): Office supplies (asset) Telephone, Internet, and fax (misc. exp.) Postage Freight-out The fund was increased to $210. $27.70 29.30 90.00 9.80 $19.00 0.20

During October, Splish Brothers Lighting Company experiences the following activities related to its petty cash fund: Oct. 1 A petty cash fund is established with a check for $180.00 issued to the petty cash custodian. 31 A count of the petty cash fund disclosed the following items used for replenishment: Currency 31 Coins Expenditure receipts (vouchers): Office supplies (asset) Telephone, Internet, and fax (misc. exp.) Postage Freight-out The fund was increased to $210. $27.70 29.30 90.00 9.80 $19.00 0.20

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 2PA

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On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: A. On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $80. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment as it was month-end. The following are the receipts: Auto Expense $114, Supplies $75, Postage Expense $50, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.
On July 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: A. On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $110. C. On June 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment, as it was month end. The following are the receipts: Auto Expense $14, Supplies $75, Postage Expense $150, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.
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yoming Restoration Company completed the following selected transactions during July 20Y1: July 1. Established a petty cash fund of $1,200. 12. The cash sales for the day, according to the cash register records, totaled $8,356. The actual cash received from cash sales was $8,389. 31. Petty cash on hand was $217. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: July 3. Store supplies, $510. 7. Express charges on merchandise sold, $90 (Delivery Expense). 9. Office supplies, $30. 13. Office supplies, $35. 19. Postage stamps, $50 (Office Supplies). 21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense). 22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $135 (Delivery Expense). 30. Office supplies, $25. July 31. The cash sales for the day, according to the cash register records, totaled $10,289.…
Waterway Company 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 $210. 15 Replenished the petty cash fund by writing a check for $206.50. On this date, the fund consisted of $3.50 in cash and these petty cash receipts: freight-out $94, entertainment expense $47.00, postage expense $43.90, and miscellaneous expense $20.40. 16 Increased the amount of the petty cash fund to $305 by writing a check for $95.00. 31 Replenished the petty cash fund by writing a check for $289.00. On this date, the fund consisted of $16.00 in cash and these petty cash receipts: postage expense $140.40, entertainment expense $92.80, and freight-out $54.10. Journalize the petty cash transactions and post to the Petty Cash account.
Crane Company 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 $205. Aug 15. - Replenished the petty cash fund by writing a check for $201.30. On this date, the fund consisted of $3.70 in cash and these petty cash receipts: freight-out $93.00, entertainment expense $47.10, postage expense $40.80, and miscellaneous expense $18.80. Aug 16- Increased the amount of the petty cash fund to $325 by writing a check for $120.00. Aug 31- Replenished the petty cash fund by writing a check for $308.70. On this date, the fund consisted of $16.30 in cash and these petty cash receipts: postage expense $139.20, entertainment expense $95.20, and freight-out $72.50.
Man
Crane Company 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 $226.00. 15 Replenished the petty cash fund by writing a check for $188.00. On this date, the fund consisted of $38.00 in cash and these petty cash receipts: freight-out $61.40, entertainment expense $23.00, postage expense $20.70 and miscellaneous expense $79.70. 16 Increased the amount of the petty cash fund to $426.00 by writing a check for $200.00. 31 Replenished the petty cash fund by writing a check for $296.00. On this date, the fund consisted of $130.00 in cash and these petty cash receipts: postage expense $132.00, entertainment expense $129.60, and freight-out $33.40. Journalize the petty cash transactions. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are…