Post all petty transactions July 1. Established a petty cash fund of $1,100.12. The cash sales for the day, according to the cash register records, totaled $8,192. The actual cash received from cashsales was $8,220.31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evidenced by a pettycash receipt:July 3. Store supplies, $580.7. Express charges on merchandise sold, $90o (Delivery Expense).9. Office supplies, $30.13. Office supplies, $3s.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 $10,241. The actual cash received fromcash sales was $10,232.31. Decreased the petty cash fund by $15o.

July 1. Established a petty cash fund of $1,100. 12. 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. 31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: July 3. Store supplies, $580. 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).

July 1. Established a petty cash fund of $1,100. 12. 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. 31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: July 3. Store supplies, $580. 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).

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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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Post all petty transactions

July 1. Established a petty cash fund of $1,100.
12. 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.
31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty
cash receipt:
July 3. Store supplies, $580.
7. Express charges on merchandise sold, $90o (Delivery Expense).
9. Office supplies, $30.
13. Office supplies, $3s.
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 $10,241. The actual cash received from
cash sales was $10,232.
31. Decreased the petty cash fund by $15o.

Definition Definition Act of publishing journal entries in their respective general ledger accounts to create a consolidated view of an account. At the end of the fiscal year, ledger accounts are balanced and account balances in every ledger are consolidated together to create the trial balance.

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Wyoming Restoration Company completed the following selected transactions during July 20Y1: July 1. Established a petty cash fund of $1,100. 12. 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. 31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: July 3. Store supplies, $580. 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 $10,241. The actual cash received from cash…