Karen's Dance Studio created a $300 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows:E (Click the icon to view the petty cash tickets.)Read the requirements.Requirement 1. Make the general journal entry to create the petty cash fund. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.)DateAccounts and ExplanationDebitCrediti Data Tablei RequirementsPetty CashTicket No. ItemMake the general journal entry to create the petty cash fund. Include anexplanation.1.Account DebitedAmountMake the general journal entry to record the petty cash fund replenishment.Cash in the fund totals $115. Include an explanation.2.Ticket No. 1Delivery of programs to customers Delivery Expense$20Ticket No. 2Mail packagePostage Expense153. Assume that Karen's Dance Studio decides to decrease the petty cash fundto $170. Make the general journal entry to record this decrease.Ticket No. 3NewsletterPrinting Expense25Ticket No. 4Key to closetMiscellaneous Expense50Ticket No. 5Copier paperOffice Supplies60PrintDonePrintDone

Working Note 1: Calculation of cash Short Over =20+15+25+50+60=170 The Balance in Petty cash After…

Karen's Dance Studio created a $300 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows: E (Click the icon to view the petty cash tickets.) Read the requirements Requirement 1. Make the general journal entry to create the petty cash fund. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit O Data Table O Requirements Petty Cash Ticket No. 1. Make the general jounal entry to create the petty cash fund. Include an explanation. 2. Make the general jourmal entry to record the petty cash fund replenishment. Cash in the fund totals $115. Include an explanation. 3. Assume that Karen's Dance Studio decides to decrease the petty cash fund to $170. Make the general journal entry to record this decrease. Item Account Debited Amount Ticket No. 1 Delivery of programs to customers Delivery Expense 24 20 Ticket No. 2 Mail package Postage Expense 15 Ticket No. 3 Newsletter Printing Expense 25 Ticket No. 4 Key to closet Miscellaneous Expense 50 Ticket No. 5 Copier paper Office Supplies 60 Print Done Print Done

Karen's Dance Studio created a $300 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows: E (Click the icon to view the petty cash tickets.) Read the requirements Requirement 1. Make the general journal entry to create the petty cash fund. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit O Data Table O Requirements Petty Cash Ticket No. 1. Make the general jounal entry to create the petty cash fund. Include an explanation. 2. Make the general jourmal entry to record the petty cash fund replenishment. Cash in the fund totals $115. Include an explanation. 3. Assume that Karen's Dance Studio decides to decrease the petty cash fund to $170. Make the general journal entry to record this decrease. Item Account Debited Amount Ticket No. 1 Delivery of programs to customers Delivery Expense 24 20 Ticket No. 2 Mail package Postage Expense 15 Ticket No. 3 Newsletter Printing Expense 25 Ticket No. 4 Key to closet Miscellaneous Expense 50 Ticket No. 5 Copier paper Office Supplies 60 Print Done Print Done

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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4. Robinson Legal Services, Inc. established a $220 petty cash fund. During the month, the fund was used to pay for the following expenditures: Petty Cash Ticket No. 1 2 3 4 5 Item Account Debited Delivery of programs to customers Delivery Expense Mail package Postage Expense Printing Expense Miscellaneous Expense Office Supplies DATE Newsletter Key to closet Copier paper (a) Record the journal entry to create the petty cash fund. (b) At month-end, the bookkeeper counted the cash in the petty cash box. There was $40. Record the journal entry (entries) needed at the end of the month to replenish the fund. (c) If the bookkeeper wanted to decrease the petty cash fund to $120, what journal entry would he record? DATE ACCOUNT ACCOUNT DEBIT Amount $ 20 10 25 40 70 DEBIT CREDIT CREDIT
Sandhill's Snack Shop has a petty cash fund of $105. On November 30, the fund contained $8 in cash and receipts for postage of $31, supplies of $47, and travel expenses of $17. Make the journal entry to replenish the fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Account Titles Nov. 30 Debit || Credit TON
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On September 1, French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries using this information for the following transactions for questions 1-5. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48. What is the correct journal entry?
Fiona's Florals, a retail business, started a $250 petty cash fund on June 1. Below are descriptions of the transactions to establish the petty cash fund, disburse petty cash during June, and replenish the petty cash fund on June 30. DATE June 1 June 5 June 8 June 15 June 22 June 25 June 29 June 30 Required: TRANSACTIONS Issued Check 550 for $250 to establish a petty cash fund. Paid $32 from the petty cash fund for office supplies, Petty Cash Voucher 1. Paid $33 from the petty cash fund for postage stamps, Petty Cash Voucher 2. Paid $20 from the petty cash fund for delivery service, Petty Cash Voucher 3. Paid $42 from the petty cash fund to the owner, Fiona Chu, for her personal use, Petty Cash Voucher 4. Paid $32 from the petty cash fund to have the store windows washed, Petty Cash Voucher 5. Paid $49 from the petty cash fund for delivery service, Petty Cash Voucher 6. Issued Check 590 for $208 to replenish the petty cash fund. 1. Record the transaction to establish the petty cash…
Question 5 of 6 View Policies Date Receipt No. 3/5 7 Current Attempt in Progress Sheridan Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $105. During March, the following petty cash receipts were found in the petty cash box. 9 11 14 1 2 3 4 For Stamps Freight-Out Miscellaneous Expense Travel Expense Miscellaneous Expense Amount $32 13 14 31 -/12 7 : The fund was replenished on March 15 when the fund contained $5 in cash. On March 20, the amount in the fund was increased to $200.
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answer in text form please (without image), Note: .Every entry should have narration please
The custodian of a $735 petty cash fund discovers that the fund has $157.50 in coins and currency plus $553.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice A debit to Cash for $530. A debit to Petty Cash for $553.50. A credit to Cash Over and Short for $578. A credit to Cash for $553.50 A dohit to Cach Over and Short for $24.00 Help I Save & Exit
Suppose that on June 1, Cool Gyrations l, a disc jockey service, create a a petty cash with an impress balance of $400. During June, Ruth Mangan, fund custodian, signs the following petty cash ticket: On June 30, prior to replenishment, the fun contains these tickets plus cash of $246. The accounts affected cash payments are Office Supplies, Entertainment Expense l, and postage Expense .
The petty cash custodian reported the following transactions during the month. Prepare the journalentry to record the replenishment of the fund.A $10 cash payment is made to Starbucks to purchase coffee for a business client, a $40 cashpayment is made for supplies purchased from Office Depot, and a $30 cash payment is made toUPS to deliver goods to a customer