Please Do not Give image format
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please Do not Give image format

Transcribed Image Text:OBJ. 5,4
PR 8-2A Transactions for petty cash, cash short and over
Cactus Restoration Company completed the following selected transactions during
May 2016:
Oct. 1. Established a petty cash fund of $750.
12.
The cash sales for the day, according to the cash register records, totaled $12,440
The actual cash received from cash sales was $12,465.
31.
Petty cash on hand was $157. Replenished the petty cash fund for the following
disbursements, each evidenced by a petty cash receipt:

Transcribed Image Text:Oct.
3. Store supplies, $390.
7. Express charges on merchandise sold, $35 (Delivery Expense).
9. Office supplies, $16.
13. Office supplies, $22.
19. Postage stamps, $12 (Office Supplies).
21. Repair to office file cabinet lock, $15 (Miscellaneous Administrative
Expense).
22. Postage due on special delivery letter, $27 (Miscellaneous Administra-
tive Expense).
24.
Express charges on merchandise sold, $55 (Delivery Expense).
30. Office supplies, $6.
Oct. 31. The cash sales for the day, according to the cash register records, totaled $18,820.
The actual cash received from cash sales was $18.780.
31. Decreased the petty cash fund by $100.
Instructions
Journalize the transactions.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education