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Required 1. Journalize the entry establishing the Petty Cash Fund in the general journal. 2. Record the disbursements of petty cash in the petty cash payments record. 3. Journalize the summarizing entry to reimburse the Petty Cash Fund.

Required 1. Journalize the entry establishing the Petty Cash Fund in the general journal. 2. Record the disbursements of petty cash in the petty cash payments record. 3. Journalize the summarizing entry to reimburse the Petty Cash Fund.

FINANCIAL ACCOUNTING
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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D PART 2: Accounting for Cash and Payroll Check Figure Office Supplies, $6.50 LO 7 28 29 R. C. Stowe, the owner, withdrew $20 for personal use, voucher no. 7. Paid $4.20 for postage, voucher no. 8 (Miscellaneous Expense). Paid $5.90 for delivery charge, voucher no. 9. 30 31 Issued for cash check no. 372 for $96.50 to reimburse Petty Cash Fund. Required 1. Journalize the entry establishing the Petty Cash Fund in the general journal. 2. Record the disbursements of petty cash in the petty cash payments record. 3. Journalize the summarizing entry to reimburse the Petty Cash Fund. PROBLEM 6-3B Roberta Felino, owner of Roberta's Beauty Salon, makes bank deposits in the night depository at the close of each business day. The following information for the first four days of April is available. 1 2006 75 2 $582.65 April 3 $586.65 Q 4 $623.25
Transcribed Image Text:D PART 2: Accounting for Cash and Payroll Check Figure Office Supplies, $6.50 LO 7 28 29 R. C. Stowe, the owner, withdrew $20 for personal use, voucher no. 7. Paid $4.20 for postage, voucher no. 8 (Miscellaneous Expense). Paid $5.90 for delivery charge, voucher no. 9. 30 31 Issued for cash check no. 372 for $96.50 to reimburse Petty Cash Fund. Required 1. Journalize the entry establishing the Petty Cash Fund in the general journal. 2. Record the disbursements of petty cash in the petty cash payments record. 3. Journalize the summarizing entry to reimburse the Petty Cash Fund. PROBLEM 6-3B Roberta Felino, owner of Roberta's Beauty Salon, makes bank deposits in the night depository at the close of each business day. The following information for the first four days of April is available. 1 2006 75 2 $582.65 April 3 $586.65 Q 4 $623.25
F6 PROBLEM 6-2B On March 1 of this year, Stowe Company established a Petty Cash Fund, and the following petty cash transactions took place during the month: Mar. 1 Cashed check no. 314 for $100 to establish a Petty Cash Fund, and put the $100 in a locked drawer in the office. & 7 F7 U 4 7 9 16 20 25 Issued voucher no. 1 for taxi fare, $7.60 (Miscellaneous Expense). Issued voucher no. 2 for memo pads, $6.50 (Office Supplies). Paid $21.50 for an advertisement in a college basketball program, voucher no. 3. Bought postage stamps, $8.80, voucher no. 4 (Miscellaneous Expense). Paid $10 to have snow removed from office front sidewalk, voucher no. 5 (Miscellaneous Expense). Issued voucher no. 6 for delivery charge, $12. ★ (Continued) Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-202 F8 - F9 ( 9 99+ form. (DELL prt sc 0 F10 ) home P F11 end F12 { ~ ~ [ + insert 66 } delete 1 LO backspace
Transcribed Image Text:F6 PROBLEM 6-2B On March 1 of this year, Stowe Company established a Petty Cash Fund, and the following petty cash transactions took place during the month: Mar. 1 Cashed check no. 314 for $100 to establish a Petty Cash Fund, and put the $100 in a locked drawer in the office. & 7 F7 U 4 7 9 16 20 25 Issued voucher no. 1 for taxi fare, $7.60 (Miscellaneous Expense). Issued voucher no. 2 for memo pads, $6.50 (Office Supplies). Paid $21.50 for an advertisement in a college basketball program, voucher no. 3. Bought postage stamps, $8.80, voucher no. 4 (Miscellaneous Expense). Paid $10 to have snow removed from office front sidewalk, voucher no. 5 (Miscellaneous Expense). Issued voucher no. 6 for delivery charge, $12. ★ (Continued) Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-202 F8 - F9 ( 9 99+ form. (DELL prt sc 0 F10 ) home P F11 end F12 { ~ ~ [ + insert 66 } delete 1 LO backspace
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