Swifty Company established a petty cash fund on May 1, cashing a check for $125.00. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $5.55. Receipts: delivery expense $30.80, postage expense $37.75, and miscellaneous expense $50.90. July 1: Cash in fund $3.00. Receipts: delivery expense $19.95, entertainment expense $47.05, and miscellaneous expense $55.00. On July 10, Swifty increased the fund from $125.00 to $155. Prepare journal entries for Swifty Company for May 1, June 1, July 1, and July 10.
Swifty Company established a petty cash fund on May 1, cashing a check for $125.00. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $5.55. Receipts: delivery expense $30.80, postage expense $37.75, and miscellaneous expense $50.90. July 1: Cash in fund $3.00. Receipts: delivery expense $19.95, entertainment expense $47.05, and miscellaneous expense $55.00. On July 10, Swifty increased the fund from $125.00 to $155. Prepare journal entries for Swifty Company for May 1, June 1, July 1, and July 10.
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 1PB: On June 1 French company has decided to initiate a petty cash fund in the amount of $800. Prepare...
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Swifty Company established a petty cash fund on May 1, cashing a check for $125.00. The company reimbursed the fund on June 1 and July 1 with the following results.
June 1: Cash in fund $5.55. | Receipts: delivery expense $30.80, postage expense $37.75, and miscellaneous expense $50.90. | |
July 1: Cash in fund $3.00. | Receipts: delivery expense $19.95, entertainment expense $47.05, and miscellaneous expense $55.00. |
On July 10, Swifty increased the fund from $125.00 to $155.
Prepare
Date
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Account Titles and Explanation
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Debit
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Credit
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choose a transaction date May 1June 1July 1July 10
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enter an account title
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enter a debit amount
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enter a credit amount
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enter an account title
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enter a debit amount
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enter a credit amount
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enter an account title
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enter a debit amount
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enter a credit amount
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enter an account title
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enter a debit amount
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enter a credit amount
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enter an account title
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enter a debit amount
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enter a credit amount
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enter an account title
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enter a debit amount
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enter a credit amount
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||
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enter an account title
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enter a debit amount
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enter a credit amount
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enter an account title
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enter a debit amount
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enter a credit amount
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||
enter an account title
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enter a debit amount
|
enter a credit amount
|
||
enter an account title
|
enter a debit amount
|
enter a credit amount
|
||
choose a transaction date May 1June 1July 1July 10
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
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