On March 20, Novak's petty cash fund of $118 is replenished when the fund contains $20 in cash and receipts for postage $47,supplies $19, and travel expense $32.Prepare the journal entry to record the replenishment of the petty cash fund. (Credit account titles are automatically indented when theamount is entered. Do not indent manually. List all debit entries before credit entries.)DateAccount Titles and ExplanationMar. 20DebitCredit

Date: March 20Account Titles and Explanation:Postage Expense: Debit the Postage Expense account for…

Answered: On March 20, Novak's petty cash fund of…

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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On Jan. 1, Crisp Company had decided to establish a petty cash fund in the amount of $900.
Dance Studio created a $200 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows: 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 Requirement 2. Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $8. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table. Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit Requirement 3. Assume that Louise's Dance Studio decides to decrease the petty cash fund to $100. Make the general journal entry to record this decrease. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts…
A petty cash fund was originally established with cheque for 150. On December 31, you find the FF items Prepare the general journal entry to record the replenishment of petty cash funds on December 31.
Prepare journal entries for each of the following: Question Content Area a. Issued a check to establish a petty cash fund of $550. If an amount box does not require an entry, leave it blank. blank - Select - - Select - - Select - - Select - Question Content Area b. The amount of cash in the petty cash fund is $180. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $215 and miscellaneous selling expense, $137. Record any missing funds in the cash short and over account. If an amount box does not require an entry, leave it blank.
The custodian of a $450 petty cash fund discovers that the fund has $55.90 in coins and currency plus $389.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice O A credit to Cash for $39410 A debit to Cash for $39410 A credit to Cash Over and Short for $460 A deba to Cash for $384.90 A debt to Potty Cash for $389 50.
34 On September 1, a company established a petty cash fund of $120. On September 10, the petty cash fund was replenished when there was $26 remaining and there were petty cash receipts for supplies, $31, and postage, $58. On September 15, the petty cash fund was increased to $155. Required:Prepare the journal entries, if any, required on September 1, September 10, and September 15. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
On September 30, Hector’s petty cash fund of $100 is replenished. At the time, the cash box contained $18 cash and receipts for taxi fares ($40), delivery charges ($12), and office supplies ($30).Prepare the journal entry to record the replenishment of the fund.
CH/ MW >) Mastery Problem Instructions Tumner Excavation maintains a checking account and has decided to open a petty cash fund. The following petty cash fund transactions occurred during July: 7 July 2 Established a petty cash fund by issuing Check No. 301 for $100. 5 Paid $25 from the petty cash fund for postage. Voucher No. 1. Paid $30 from the petty cash fund for delivery of flowers (Miscellaneous Expense). Voucher No. 2. Paid $20 from the petty cash fund to repair a tire on the company truck. Voucher No. 3. Paid $22 from the petty cash fund for a newspaper advertisement. Voucher No. 4. Issued Check No. 303 to replenish the petty cash fund. (Total and rule the petty cash payments record. Record the balance and the amount needed to replenish the fund in the Description column of the petty cash payments record.) 8 12 13 20 24 28 31 Chart of Accounts Labels and Amount Descriptions Petty Cash The following additional transactions occurred during July: 17 July 5 Issued Check No. 302 to…
Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account titles): a. On July 1, check No. 12-375 issued to establish a petty cash fund of $1,080. b. The amount of cash in the petty cash fund which is now $125. Check No. 12-476 is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $589; miscellaneous selling expense, $190; miscellaneous administrative expense, $150. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $1,080, record the discrepancy in the cash short and over account.)
If cash on hand is $20, prepare the entry to replenish the petty cash on December 31. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts PR Dr. Cr. More Info Dec. 31 Cash Short and Over Donations Expense 15 201X Miscellaneous Expense 19 December 1 A $108 petty cash fund is established. Office Supplies Expense 26 31 At end of the month, the following paid vouchers exist: donations expense, $15; postage expense, $13; office supplies expense, $26; miscellaneous expense, $19. Postage Expense 13 Cash Print Done
Knowledge Check Seal Mate established a $100 petty cash fund on June 1. On June 30, the fund had $17 cash and petty cash receipts for postage $25, and tolls and parking $60. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually) Prepare the entry on June 1 to establish the fund. Date Account Titles and Explanation Debit Credit Jun. 1 Prepare the entry on June 30 to replenish the fund. Date Account Titles and Explanation Jun. 30 List of Accounts Save for Later Debit Credit Attempts: 0 of 3 used Submit Answer
A $250 petty cash fund has cash of $15 and receipts of $230. The journal entry to replenish the account would include a credit to

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