Part 1. 1. If HHC has \$1,450 cash$500 of government Treasury bills purchased four months ago, $840 of cash set aside for its workers compensation insurance, how much will the company report on the balance sheet as "Cash and Cash Equivalents"?Part 2: 2. I established the fund by cashing a check from HHC for $265 made payable me. Record the transaction3. Tom Canuck provided a $79 receipt for repairs to the club's computer, so I paid $79 cash to him. Record the transaction.4. Kim Harra provided a receipt for $59 for various supplies she planned to use to decorate the arena later this year. I paid $59 cash to her. Record the transaction.5. Trainer Jim bought some equipment that the club intends to use for the next few years. He gave me the receipt and I paid him $89. Record the transaction.6. On the last day of the month, I prepared a summary of expenditures and requested the fund be replenished. I received and cashed a check from HHC for $227, placing the cash into a locked cash box. Record the transaction.7. Wendy Wignes provided receipts for supplies purchased for the club's office for use next month. I paid $134 cash to her. Record the transaction.8. Destiny Hook provided a phone bill showing she had paid $39 for telephone calls made to contact referees for the annual tournament. I paid her $39 cash Record the transaction.9. Gutty McTavish submitted a receipt for $44 for a haircut he received. I did not pay him. Record the transaction.10. On the last day of the month, I received and cashed a check from HHC for $173, placing the cash into the locked cash box. Record the transaction. HelpSavedRequired informationPA5-4 (Algo) (Supplement 5A) Reporting Petty Cash Transactions [LO 5-5, LO 5-S1][The following information applies to the questions displayed below.]Harristown Hockey Club (HHC) maintains a petty cash fund for minor club expenditures. The petty cash custodian, WayneCrosby, describes the events that occurred during the last two months:a. I established the fund by cashing a check from HHC for $265 made payable to me.b. Tom Canuck provided a $79 receipt for repairs to the club's computer, so I paid $79 cash to him.c. Kim Harra provided a receipt for $59 for various supplies she planned to use to decorate the arena later this year. I paid$59 cash to her.d. Trainer Jim bought some equipment that the club intends to use for the next few years. He gave me the receipt and Ipaid him $89.e. On the last day of the month, I prepared a summary of expenditures and requested the fund be replenished. I receivedand cashed a check from HHC for $227, placing the cash into a locked cash box.f. Wendy Wignes provided receipts for supplies purchased for the club's office for use next month. I paid $134 cash to her.g. Destiny Hook provided a phone bill showing she had paid $39 for telephone calls made to contact referees for theannual tournament. I paid her $39 cash.h. Gutty McTavish submitted a receipt for $44 for a haircut he received. I did not pay him.i. On the last day of the month, I received and cashed a check from HHC for $173, placing the cash into the locked cashbox.PA5-4 (Algo) Part 22. If HHC has $1,450 cash, $500 of government Treasury bills purchased four months ago, $840 of cash cot icompensation insurance, how much will the company reportmework

The petty cash fund is created by the company to meet the small expenses or the daily expenses of…

Answered: Part 1. 1. If HHC has \$1,450 cash$500…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Part 1. 1. If HHC has \$1,450 cash$500 of government Treasury bills purchased four months ago, $840 of cash set aside for its workers compensation insurance, how much will the company report on the balance sheet as "Cash and Cash Equivalents"? Part 2: 2. I established the fund by cashing a check from HHC for $265 made payable me. Record the transaction 3. Tom Canuck provided a $79 receipt for repairs to the club's computer, so I paid $79 cash to him. Record the transaction. 4. Kim Harra provided a receipt for $59 for various supplies she planned to use to decorate the arena later this year. I paid $59 cash to her. Record the transaction. 5. Trainer Jim bought some equipment that the club intends to use for the next few years. He gave me the receipt and I paid him $89. Record the transaction. 6. On the last day of the month, I prepared a summary of expenditures and requested the fund be replenished. I received and cashed a check from HHC for $227, placing the cash into a locked cash box. Record the transaction. 7. Wendy Wignes provided receipts for supplies purchased for the club's office for use next month. I paid $134 cash to her. Record the transaction. 8. Destiny Hook provided a phone bill showing she had paid $39 for telephone calls made to contact referees for the annual tournament. I paid her $39 cash Record the transaction. 9. Gutty McTavish submitted a receipt for $44 for a haircut he received. I did not pay him. Record the transaction. 10. On the last day of the month, I received and cashed a check from HHC for $173, placing the cash into the locked cash box. Record the transaction.

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Required information
PA5-4 (Algo) (Supplement 5A) Reporting Petty Cash Transactions [LO 5-5, LO 5-S1]
[The following information applies to the questions displayed below.]
Harristown Hockey Club (HHC) maintains a petty cash fund for minor club expenditures. The petty cash custodian, Wayne
Crosby, describes the events that occurred during the last two months:
a. I established the fund by cashing a check from HHC for $265 made payable to me.
b. Tom Canuck provided a $79 receipt for repairs to the club's computer, so I paid $79 cash to him.
c. Kim Harra provided a receipt for $59 for various supplies she planned to use to decorate the arena later this year. I paid
$59 cash to her.
d. Trainer Jim bought some equipment that the club intends to use for the next few years. He gave me the receipt and I
paid him $89.
e. On the last day of the month, I prepared a summary of expenditures and requested the fund be replenished. I received
and cashed a check from HHC for $227, placing the cash into a locked cash box.
f. Wendy Wignes provided receipts for supplies purchased for the club's office for use next month. I paid $134 cash to her.
g. Destiny Hook provided a phone bill showing she had paid $39 for telephone calls made to contact referees for the
annual tournament. I paid her $39 cash.
h. Gutty McTavish submitted a receipt for $44 for a haircut he received. I did not pay him.
i. On the last day of the month, I received and cashed a check from HHC for $173, placing the cash into the locked cash
box.
PA5-4 (Algo) Part 2
2. If HHC has $1,450 cash, $500 of government Treasury bills purchased four months ago, $840 of cash cot i
compensation insurance, how much will the company report
mework

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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