Prepare the journal entries for the following petty cash transactions of Hank Gaming Supplies: Mar. 1 Established a petty cash fund with a $250 balance. The petty cash fund has $24 in cash and $234 in petty cash tickets that were issued to pay for Office Supplies ($44) and Entertainment Expense ($190). Replenished the fund and recorded the expenses. Mar. 31 Аpг. 15 Increased the balance of the petty cash fund to $350. Prepare journal entries. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Journalize the establishment of the petty cash fund. Date Accounts and Explanation Debit Credit Mar. 1 Journalize the replenishment of the fund. Date Accounts and Explanation Debit Credit Mar. 31 Journalize the increase of the petty cash fund. Date Accounts and Explanation Debit Credit Аpг. 15 Choose from any list or enter any number in the input fields and then continue to the next question.

Prepare the journal entries for the following petty cash transactions of Hank Gaming Supplies: Mar. 1 Established a petty cash fund with a $250 balance. The petty cash fund has $24 in cash and $234 in petty cash tickets that were issued to pay for Office Supplies ($44) and Entertainment Expense ($190). Replenished the fund and recorded the expenses. Mar. 31 Аpг. 15 Increased the balance of the petty cash fund to $350. Prepare journal entries. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Journalize the establishment of the petty cash fund. Date Accounts and Explanation Debit Credit Mar. 1 Journalize the replenishment of the fund. Date Accounts and Explanation Debit Credit Mar. 31 Journalize the increase of the petty cash fund. Date Accounts and Explanation Debit Credit Аpг. 15 Choose from any list or enter any number in the input fields and then continue to the next question.

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 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 the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Mar. 20 Debit Credit
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Wyoming Restoration Company completed the following selected transactions during July 20Y1: July 1. 12. 31. July 3. 7. 9. 13. 19. 21. 22. 24. 30. July 31. 31. Established a petty cash fund of $1,100. The cash sales for the day, according to the cash register records, totaled $8,192. The actual cash received from cash sales was $8,220. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: Store supplies, $580. Express charges on merchandise sold, $90 (Delivery Expense). Office supplies, $30. Office supplies, $35. Postage stamps, $50 (Office Supplies). Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense). Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense). Express charges on merchandise sold, $135 (Delivery Expense). Office supplies, $25. The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash received from…
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