The following documentation was found in Vector Enterprises's petty cash box, for the month of April: April Item Scopier paper office use 6 paper clips 8 Pappa's Pizza Staff meeting 14 Gas 16 Orangeabee's customer meeting $ 22 OPS Courier Freight-In Purpose Amount 57.41 office use 8.05 30.18 delivery van 22.18 30.86 15.42 General Ledger expense accounts are, as follows: Merchandise Inventory Delivery Expense Office Supplies Expense Meetings Expense The opening balance of the petty cash fund was $200 and the amount of cash remaining at the end of the month is $6.41. The company wants to reduce the petty cash fund to $150. REQUIRED: Prepare a General Journal entry to replenish the petty cash fund for the month of April and adjust it to the new desired level.

The following documentation was found in Vector Enterprises's petty cash box, for the month of April: April Item Scopier paper office use 6 paper clips 8 Pappa's Pizza Staff meeting 14 Gas 16 Orangeabee's customer meeting $ 22 OPS Courier Freight-In Purpose Amount 57.41 office use 8.05 30.18 delivery van 22.18 30.86 15.42 General Ledger expense accounts are, as follows: Merchandise Inventory Delivery Expense Office Supplies Expense Meetings Expense The opening balance of the petty cash fund was $200 and the amount of cash remaining at the end of the month is $6.41. The company wants to reduce the petty cash fund to $150. REQUIRED: Prepare a General Journal entry to replenish the petty cash fund for the month of April and adjust it to the new desired level.

Name: Question 2 (The following documentation was found in Vector Enterpris
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Question 2 (The following documentation was found in Vector Enterprises's petty cash box, forthe month of April:AprilItemScopier paper office use6 paper clips8 Pappa's Pizza Staff meetingPurposeAmount57.41office use8.05Main Co30.1814 Gasdelivery van

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

At the end of 20XX, the following records were taken form the books of the home office and the branch. (Branch Books) Home Office 12/01 Cash remitted to home office 12/28 Cash remitted to home office 12/28 Merchandise returned to home office 01/01 Balance 12/04 Shipments to branch 12/28 Expense Allocation 12/28 Shipments to branch 12/28 Supplies purchased for branch and shipped directly to branch Balance 166,400 80,000 30,000 12,000 01/01 Balance 12/05 Shipments from Home Office 12/28 Expenses from Home Office (Home Office Books) Investment in Branch 52,400 24,000 Balance 103,200 60,000 12/03 Cash received from branch 120,000 12/28 Collection from branch customer 8,000 60,000 120,000 45,200 80,000 18,000 Except for the error by the branch in recording its share of allocated expenses, all difference are timing differences. Required: 1. Compute the correct balance of reciprocal accounts. 2. Prepare the necessary entries to bring the reciprocal accounts into balance for a working paper…
CASH PAYMENTS JOURNAL Sam Santiago operates a retail variety store. The book include a cash payments journal and an accounts payable ledger. All cash paymen (except petty cash) are entered in the cash payments journal. Selected account balances on May 1 are as follows: General Ledger Cash Accounts Payable Accounts Payable Ledger Fantastic Toys Goya Outlet. Mueller's Distributors Van Kooning $40,000 20,000 $5,200 3,800 3,600 7,400 The following are the transactions related to cash payments for the month of May May 1 Issued Check No. 426 in payment of May rent (Rent Expense), $2,400. 3 Issued Check No. 427 to Mueller's Distributors in payment of merchandise purchased on account, $3,600, less a 3% discount. Check was written for $3,492. 7 Issued Check No. 428 to Van Kooning in partial payment of merchandise purchased on account, $5,500. A cash discount was not allowed. 12 Issued Check No. 429 to Fantastic Toys for merchandise purchased on account, $5,200, less a 1% discount. Check was…
A business maintains a petty cash book with an imprest of $50, which is restored on the first day of each month. On 31 March, there was $13.40 in the petty cash box and vouchers totalling $36.60. How much did the petty cashier receive from the chief cashier on 1 April? A $13.40 B $23.20 C $36.60 D $50
The sales journal for Carothers Company is shown below. SALES JOURNAL Date Sales Slip No. Customer Name Post.Ref. AccountsReceivableDebit Sales taxPayableCredit SalesCredit Dec. 1 824 Jim Danta 3,212 312 2,900 7 825 Tom Tome 645 45 600 22 826 Sue Wasco 666 66 600 31 Totals 4,523 423 4,100 Show how the amounts would be posted to the general ledger accounts.
post to general ledger
The following petty cash transactions were made by the Freeman Corporation during the month General Journal of September. Record the transactions in the journal provided in the account order that they appear below. Date Account Debit Credit Sep 1 Established a petty cash fund of $300. 1-Sep Petty Cash 300 Cash 300 Sep 15 Reimbursed the petty cash fund for the following: Stapler, staples, and tape $55 15-Sep 55 Pizza for the office party (meals) $85 85 Maintenance/Janitorial $112 112 The cash in the box before reimbursement was $40.…
8.2
Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory. Feb. 2 Wrote a $350 check to establish a petty cash fund. 5 Purchased paper for the copier for $15.15 that is immediately used. 9 Paid $42.50 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. 12 Paid $8.55 postage to deliver a contract to a client. 14 Reimbursed Adina Sharon, the manager, $71 for mileage on her car. 20 Purchased office paper for $68.77 that is immediately used. 23 Paid a courier $16 to deliver merchandise sold to a customer, terms FOB destination. 25 Paid $11.70 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. 27 Paid $53 for postage…
The cash register tape for Tamarisk Industries reported sales of $8,103.30.Record the journal entry that would be necessary for each of the following situations. (a) Sales per cash register tape exceeds cash on hand by $59.85. (b) Cash on hand exceeds cash reported by cash register tape by $33.39. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Transactions Account Titles and Explanation Debit Credit (a) enter an account title enter a debit amount rounded to 2 decimal places enter a credit amount rounded to 2 decimal places enter an account title enter a debit amount rounded to 2 decimal places enter a credit amount rounded to 2 decimal places enter an account title enter a debit amount rounded to 2 decimal places enter a credit amount rounded to 2 decimal places (b) enter an account title enter a debit amount rounded to 2 decimal…
Dog
The December cash records of Kirk’s Hardware follow: Cash Receipts Cash Payments Date Cash Debit Cheque # Cash Credit 4-Dec $ 4,170 1416 $ 860 9-Dec 510 1417 130 14-Dec 530 1418 650 17-Dec 2,180 1419 1,490 31-Dec 1,850 1420 1,440 1421 900 1422 630 Kirk’s Cash account shows a balance of $16,740 at December 31. On December 31, Kirk Hardware received the following bank statement: Bank Statement for December 2020 Beginning balance Deposits and other credits: $ 13,600 1-Dec EFT $ 300 5-Dec 4,170 10-Dec 510 15-Dec 530 18-Dec 2,180 22-Dec BC…