June Established a petty cash fund of $1,000. 1. The cash sales for the day, according to the cash register records, totaled $9,440. The actual cash received from cash sales was $9,506. 12. Petty cash on hand was $46. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: 30. June 2. Store supplies, $375. Express charges on merchandise purchased, $105 (Inventory). 10. 14. Office supplies, $85. 15. Office supplies, $90. 18. Postage stamps, s33 (Office Supplies). Repair to fax, $ 100 (Miscellaneous Administrative Expense). Repair to office door lock, $25 (Miscellaneous Administrative Expense). 20. 21. Postage due on special delivery letter, $9 22. (Miscellaneous Administrative Expense). Express charges on merchandise purchased, $110 (Inventory). 28. The cash sales for the day, according to the cash register records, totaled $13,390. The actual cash received from cash 30. sales was $13,350. 30. Increased the petty cash fund by $200.

June Established a petty cash fund of $1,000. 1. The cash sales for the day, according to the cash register records, totaled $9,440. The actual cash received from cash sales was $9,506. 12. Petty cash on hand was $46. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: 30. June 2. Store supplies, $375. Express charges on merchandise purchased, $105 (Inventory). 10. 14. Office supplies, $85. 15. Office supplies, $90. 18. Postage stamps, s33 (Office Supplies). Repair to fax, $ 100 (Miscellaneous Administrative Expense). Repair to office door lock, $25 (Miscellaneous Administrative Expense). 20. 21. Postage due on special delivery letter, $9 22. (Miscellaneous Administrative Expense). Express charges on merchandise purchased, $110 (Inventory). 28. The cash sales for the day, according to the cash register records, totaled $13,390. The actual cash received from cash 30. sales was $13,350. 30. Increased the petty cash fund by $200.

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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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

Transactions for petty cash, cash short and over
Cedar Springs Company completed the following selected transacti
during June 20Y3:

Instructions
Journalize the transactions.

June
Established a petty cash fund of $1,000.
1.
The cash sales for the day, according to the cash register
records, totaled $9,440. The actual cash received from cash
sales was $9,506.
12.
Petty cash on hand was $46. Replenished the petty cash fund
for the following disbursements, each evidenced by a petty
cash receipt:
30.
June 2. Store supplies, $375.
Express charges on merchandise purchased, $105
(Inventory).
10.
14.
Office supplies, $85.
15.
Office supplies, $90.
18.
Postage stamps, s33 (Office Supplies).
Repair to fax, $ 100 (Miscellaneous Administrative
Expense).
Repair to office door lock, $25 (Miscellaneous
Administrative Expense).
20.
21.
Postage due on special delivery letter, $9
22.
(Miscellaneous Administrative Expense).
Express charges on merchandise purchased, $110
(Inventory).
28.
The cash sales for the day, according to the cash register
records, totaled $13,390. The actual cash received from cash
30.
sales was $13,350.
30.
Increased the petty cash fund by $200.

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Accounting for Cash and cash equivalents

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