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.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Question
2. I established the tund by cashing a check trom 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.
### Reporting Petty Cash Transactions

**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:

1. **Establishment of the Fund**
   - **Event:** Wayne Crosby established the petty cash fund by cashing a check from HHC for $265, made payable to him.
   
2. **Expenditures from the Petty Cash Fund**
   - **Computer Repairs:** Tom Canuck provided a $79 receipt for repairs to the club’s computer. Wayne paid Tom $79 cash.
   - **Supplies for Decorating Arena:** Kim Harra provided a receipt for $59 for various supplies she planned to use to decorate the arena later this year. Wayne paid Kim $59 cash.
   - **Equipment Purchase:** Trainer Jim bought some equipment that the club intends to use for the next few years. He provided a receipt and was paid $89.
   - **Club Office Supplies:** Wendy Wignes provided receipts for supplies purchased for the club’s office for use next month. Wayne paid Wendy $134 cash.
   - **Telephone Bill for Contacting Referees:** Destiny Hook provided a phone bill showing she had paid $39 for telephone calls made to contact referees for the annual tournament. Wayne paid her $39 cash.
   - **Receipt for Haircut:** Gutty McTavish submitted a receipt for $44 for a haircut he received. Wayne did not pay him.

3. **Replenishment of the Petty Cash Fund**
   - **First Replenishment:** On the last day of the month, Wayne prepared a summary of expenditures and requested the fund be replenished. He received and cashed a check from HHC for $227, placing the cash into a locked cash box.
   - **Second Replenishment:** On the last day of the month, Wayne received and cashed a check from HHC for $173, placing the cash into the locked cash box.

**Graph / Diagram Explanation:**

There are no graphs or diagrams included in the provided text. 

---

*PA5-4 (Algo) Part 1* 

**Required:**
Transcribed Image Text:### Reporting Petty Cash Transactions **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: 1. **Establishment of the Fund** - **Event:** Wayne Crosby established the petty cash fund by cashing a check from HHC for $265, made payable to him. 2. **Expenditures from the Petty Cash Fund** - **Computer Repairs:** Tom Canuck provided a $79 receipt for repairs to the club’s computer. Wayne paid Tom $79 cash. - **Supplies for Decorating Arena:** Kim Harra provided a receipt for $59 for various supplies she planned to use to decorate the arena later this year. Wayne paid Kim $59 cash. - **Equipment Purchase:** Trainer Jim bought some equipment that the club intends to use for the next few years. He provided a receipt and was paid $89. - **Club Office Supplies:** Wendy Wignes provided receipts for supplies purchased for the club’s office for use next month. Wayne paid Wendy $134 cash. - **Telephone Bill for Contacting Referees:** Destiny Hook provided a phone bill showing she had paid $39 for telephone calls made to contact referees for the annual tournament. Wayne paid her $39 cash. - **Receipt for Haircut:** Gutty McTavish submitted a receipt for $44 for a haircut he received. Wayne did not pay him. 3. **Replenishment of the Petty Cash Fund** - **First Replenishment:** On the last day of the month, Wayne prepared a summary of expenditures and requested the fund be replenished. He received and cashed a check from HHC for $227, placing the cash into a locked cash box. - **Second Replenishment:** On the last day of the month, Wayne received and cashed a check from HHC for $173, placing the cash into the locked cash box. **Graph / Diagram Explanation:** There are no graphs or diagrams included in the provided text. --- *PA5-4 (Algo) Part 1* **Required:**
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Completing the Accounting Cycle
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.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education