On March 20, Oriole's petty cash fund of $119 is replenished when the fund contains $12 in cash and receipts for postage $49, freight- out $21, and travel expense $32. Prepare the journal entry to record the replenishment of the petty cash fund. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 20 Debit IND Credit

On March 20, Oriole's petty cash fund of $119 is replenished when the fund contains $12 in cash and receipts for postage $49, freight- out $21, and travel expense $32. Prepare the journal entry to record the replenishment of the petty cash fund. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 20 Debit IND Credit

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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Swifty Company established a petty cash fund on May 1, cashing a check for $125.00. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $5.55. Receipts: delivery expense $30.80, postage expense $37.75, and miscellaneous expense $50.90. July 1: Cash in fund $3.00. Receipts: delivery expense $19.95, entertainment expense $47.05, and miscellaneous expense $55.00. On July 10, Swifty increased the fund from $125.00 to $155.Prepare journal entries for Swifty Company for May 1, June 1, July 1, and July 10. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit choose a transaction date May 1June 1July 1July 10 enter an account title enter a debit amount…
Instructions Journalize the necessary entries for each of the following: Required: a. On March 1, issued a check to establish a petty cash fund of $1,410.* b. On April 1, the amount of cash in the petty cash fund is $440. Issued a check to replenish the fund, based on the following summary of petty cash receipts: repair expense, $850, and miscellaneous selling expense, $80. Record any missing funds in the cash short and over account.* *Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Journal a. On March 1, issued a check to establish a petty cash fund of $1,410. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used…
A $84 petty cash fund has cash of $17 and receipts of $72. The journal entry to replenish the account would include a Oa. credit to Cash Short and Over for $5 Ob. debit to Cash for $17 Oc. credit to Cash for $84 Od. credit to Petty Cash for $72
Journal entry for: Feb1: paid rent for February amounting to $660, cheque#3354. Feb1: Tee R Us decided to establish a petty cash fund for the office. A cheque #3355 of $500 was issued and cashed
On April 2, Granger Sales decides to establish a $350 petty cash fund to relieve the burden on Accounting. a. Journalize the establishment of the fund. If an amount box does not require an entry, leave it blank. April 2 b. On April 10, the petty cash fund has receipts for mail and postage of $65, contributions and donations of $39, and meals and entertainment of $97. Petty cash on hand is $147. Journalize the replenishment of the fund. Record any missing funds in the cash short and over account. If an amount box does not require an entry, leave it blank. April 10 c. On April 11, Granger Sales decides to increase petty cash to $460. Journalize this event. If an amount box does not require an entry, leave it blank. April 11
On April 2, Granger Sales decides to establish a $380 petty cash fund to relieve the burden on Accounting. a. Journalize the establishment of the fund. If an amount box does not require an entry, leave it blank. Apr. 2 b. On April 10, the petty cash fund has receipts for mail and postage of $55, contributions and donations of $33, and meals and entertainment of $112, and $176 in cash. Journalize the replenishment of the fund. If an amount box does not require an entry, leave it blank. Apr. 10 c. On April 11, Granger Sales decides to increase petty cash to $450. Journalize this event. If an amount box does not require an entry, leave it blank. Apr. 11
D5.
R. Phometsi Ltd. Provides you with the following information.2019The imprest amount at the beginning of each is P600. However, on June 1, the pettycashier had P140 cash in hand. The main cashier re-imbursed the petty cashier to have acash float of P600.The following expenses were incurred as petty cash expenses for the month.June DIPLOMA AssignmentJanuary - June BPA612 Principles of Accounting ©BOU 2024 Page 4 of 93. Cleaning expenses P405. Taxi fare P127. Postage stamps P89. Printing expenses P2811. Pen, pencil and eraser P913. Cremora, margarine and peanut butter P42.14. Cleaning expenses P3815. Bus fare. P2417. Postage stamps P1419. Cleaning expenses P32.29. Staples P16.30. Tea, Coffee and sugar P39. Required:a) Prepare a petty cash book with analysis columns for the followings: Cleaningexpenses, General expenses, Postage, Travelling expenses and Stationery.
2., On November 30, XYZ, Inc.'s petty cash fund of $150 is replenished. The fund contains cash of $30, and receipts for supplies of $75 and postage of $45. Prepare the journal entry to record the replenishment of the petty cash fund.
Journalize the entries to record the following: Mar. 1 Established a petty cash fund of $582. Mar. 31 The amount of cash in the petty cash fund is now $402. The fund is replenished based on the following receipts: office supplies, $52 selling expenses, $130.
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A $81 petty cash fund has cash of $25 and receipts of $59. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. debit to Cash for $25 credit to Cash Short and Over for $3 credit to Petty Cash for $59 credit to Cash for $81