Recall on February 1, Derrick Company established a $200 petty cash fund. On February 15, when the fund balance reached $7, the petty cash custodian prepared a petty cash report that summarized receipts for postage ($140) and printing ($54). Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus. View transaction list Journal entry worksheet < 1 Recall on February 1, Derrick Company established a $200 petty cash fund. On February 15, when the fund balance reached $7, the petty cash custodian prepared a petty cash report that summarized receipts for postage ($140) and printing ($54). Complete the necessary journal entry by selecting the account Note: Enter debits before credits. Date February 01 General Journal Debit Credit

Recall on February 1, Derrick Company established a $200 petty cash fund. On February 15, when the fund balance reached $7, the petty cash custodian prepared a petty cash report that summarized receipts for postage ($140) and printing ($54). Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus. View transaction list Journal entry worksheet < 1 Recall on February 1, Derrick Company established a $200 petty cash fund. On February 15, when the fund balance reached $7, the petty cash custodian prepared a petty cash report that summarized receipts for postage ($140) and printing ($54). Complete the necessary journal entry by selecting the account Note: Enter debits before credits. Date February 01 General Journal Debit 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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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.
Trinh Company has set up a petty cash fund with $250.00 on April 8. Prepare a journal entry to record this. On April 16, the petty cash box contained $58.25 cash and the following receipts. The petty cash was replenished the same day. Record the journal entry. Joe’s Coffee House - $22.55 (coffee and treats for meeting) Canada Post - $32.60 (for postage) Staples - $136.25 (office supplies)
Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions during June: June 1. Established a petty cash fund of $410. 12. The cash sales for the day, according to the cash register records, totaled $14,450. The actual cash received from cash sales was $14,475. 30. Petty cash on hand was $31. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: June 2. Store supplies, $45. June 10. Express charges on merchandise purchased, $66 (Merchandise Inventory). June 14. Office supplies, $29. June 15. Office supplies, $33. June 18. Postage stamps, $34 (Office Supplies). June 20. Repair to fax, $82 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $29 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery letter, $22 (Miscellaneous Administrative Expense). June 28. Express charges on merchandise purchased, $33 (Merchandise…
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.)
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…
Prepare the journal entries for the following petty cash transactions of Linton Gaming Supplies: Nov. 1 Established a petty cash fund with a $250 balance. Nov. 30 The petty cash fund has $24 in cash and $231 in petty cash tickets that were issued to pay for Office Supplies ($151) and Entertainment Expense ($80). Replenished the fund and recorded the expenses. Increased the balance of the petty cash fund to $300. Dec. 15 ...
Pelcher Company maintains a $500 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $130 for office supplies, $180 for merchandise inventory, and $90 for miscellaneous expenses. There is a cash overage of $6. The journal entry to replenish the fund on January 31 is: 4 Multiple Choice O O Seved Debit Office Supplies Expense, $130; Debit Merchandise Inventory, $180; Debit Miscellaneous expenses, $90, Debit Cash over and short, $6; Credit Petty cash, $406. Debit Office Supplies Expense, $130; Debit Merchandise Inventory, $180, Debit Miscellaneous expenses, $90, Debit Cash over and short, $6; Credit Cash, $406. Debit Office Supplies Expense, $130, Debit Merchandise Inventory, $180; Debit Miscellaneous expenses, $90; Credit Cash over and short, $6; Credit Petty cash, $394. Debit Office Supplies Expense, $130; Debit Merchandise Inventory. $180; Debit Miscellaneous expenses. $90; Credit Cash over and short, $6; Credit Cash, $394. Debit…
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
Hello, I need to do a general journal with the following directions: On May 1, a petty cash fund was established for $200 by the owner, Ilika Cash. The following vouchers were issued during the month. Prepare the journal entries to (a) establish the petty cash fund on May 1 and (b) replenish the petty cash fund on May 31. Date Voucher No. Purpose Amount 6 4-1 Office supplies 12.00 8 4-2 Taxi fare for customer (travel expense) 27.00 12 4-3 Postage due (Postage Expense) 4.00 17 4-4 Donation (Misc. Expense) 20.00 30 4-6 Ilika withdrew for personal use 50.00