Wyoming Restoration Company completed the following selected transactions during July 20Y1:July 1. Established a petty cash fund of $1,100.12. The cash sales for the day, according to the cash register records, totaled $8,192. The actual cash received from cash sales was $8,220.31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:July 3. Store supplies, $580.7. Express charges on merchandise sold, $90 (Delivery Expense).9. Office supplies, $30.13. Office supplies, $35.19. Postage stamps, $50 (Office Supplies).21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense).22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense).24. Express charges on merchandise sold, $135 (Delivery Expense).30. Office supplies, $25.July 31. The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash received from cash sales was $10,232.31. Decreased the petty cash fund by $150.Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. Transactions for petty cash, cash short and overInstructionsChart of AccountsJournalInstructionsChart of AccountsJournalWyoming Restoration Company completed the following selected transactions during July 20Y1:CHART OF ACCOUNTSJournalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.July 1Established a petty cash fund of $1,100.Wyoming Restoration Company12.The cash sales for the day, according to the cash register records, totaled $8,192. The actual cashGeneral LedgerPAGE 1received from cash sales was $8,220.JOURNAL31.Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, eachASSETSREVENUEACCOUNTING FOUATION.evidenced by a petty cash receipt:DATEDESCRIPTIONPOST. REF.DEBITCREDITASSETSLIABILITIESEQUITY110 Cash410 Sales111 Petty Cash610 Interest RevenueJuly 3.Store supplies, $580.2120 Accounts Receivable7.Express charges on merchandise sold, $90 (Delivery Expense).3131 Notes ReceivableEXPENSES9.Office supplies, $30.4132 Interest Receivable510 Cost of Merchandise Sold13Office supplies, $35.141 Merchandise Inventory515 Credit Card Expense519Postage stamps, $50 (Office Supplies).145 Office Supplies516 Cash Short and Over621.Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense).146 Store Supplies520 Salaries Expense22.Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense).151 Prepaid Insurance531 Advertising Expense24Express charges on merchandise sold, $135 (Delivery Expense).8181 Land532 Delivery Expense30Office supplies, $25.9191 Office Equipment533 Insurance Expense10July 31.The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash192 Accumulated Depreciation-Office Equipment534 Office Supplies Expense11received from cash sales was $10,232.193 Store Equipment535 Rent Expense1231.Decreased the petty cash fund by $150.194 Accumulated Depreciation-Store Equipment536 Repairs Expense537 Selling Expenses13LIABILITIES538 Store Supplies Expense14Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.210 Accounts Payable561 Depreciation Expense-Office Equipment15221 Notes Payable562 Depreciation Expense-Store Equipment16222 Interest Payable591 Miscellaneous Administrative Expense231 Salaries Payable592 Miscellaneous Selling Expense241 Sales Tax Payable710 Interest ExpenseEQUITY310 Common Stock311 Retained Earnings312 Dividends

Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Answered: Wyoming Restoration Company completed…

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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Wyoming Restoration Company completed the following selected transactions during July 20Y1:

July 1. Established a petty cash fund of $1,100.

12. The cash sales for the day, according to the cash register records, totaled $8,192. The actual cash received from cash sales was $8,220.

31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:

July 3. Store supplies, $580.

7. Express charges on merchandise sold, $90 (Delivery Expense).

9. Office supplies, $30.

13. Office supplies, $35.

19. Postage stamps, $50 (Office Supplies).

21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense).

22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense).

24. Express charges on merchandise sold, $135 (Delivery Expense).

30. Office supplies, $25.

July 31. The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash received from cash sales was $10,232.

31. Decreased the petty cash fund by $150.

Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

Transactions for petty cash, cash short and over
Instructions
Chart of Accounts
Journal
Instructions
Chart of Accounts
Journal
Wyoming Restoration Company completed the following selected transactions during July 20Y1:
CHART OF ACCOUNTS
Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.
July 1
Established a petty cash fund of $1,100.
Wyoming Restoration Company
12.
The cash sales for the day, according to the cash register records, totaled $8,192. The actual cash
General Ledger
PAGE 1
received from cash sales was $8,220.
JOURNAL
31.
Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each
ASSETS
REVENUE
ACCOUNTING FOUATION.
evidenced by a petty cash receipt:
DATE
DESCRIPTION
POST. REF.
DEBIT
CREDIT
ASSETS
LIABILITIES
EQUITY
110 Cash
410 Sales
111 Petty Cash
610 Interest Revenue
July 3.
Store supplies, $580.
2
120 Accounts Receivable
7.
Express charges on merchandise sold, $90 (Delivery Expense).
3
131 Notes Receivable
EXPENSES
9.
Office supplies, $30.
4
132 Interest Receivable
510 Cost of Merchandise Sold
13
Office supplies, $35.
141 Merchandise Inventory
515 Credit Card Expense
5
19
Postage stamps, $50 (Office Supplies).
145 Office Supplies
516 Cash Short and Over
6
21.
Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense).
146 Store Supplies
520 Salaries Expense
22.
Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense).
151 Prepaid Insurance
531 Advertising Expense
24
Express charges on merchandise sold, $135 (Delivery Expense).
8
181 Land
532 Delivery Expense
30
Office supplies, $25.
9
191 Office Equipment
533 Insurance Expense
10
July 31.
The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash
192 Accumulated Depreciation-Office Equipment
534 Office Supplies Expense
11
received from cash sales was $10,232.
193 Store Equipment
535 Rent Expense
12
31.
Decreased the petty cash fund by $150.
194 Accumulated Depreciation-Store Equipment
536 Repairs Expense
537 Selling Expenses
13
LIABILITIES
538 Store Supplies Expense
14
Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.
210 Accounts Payable
561 Depreciation Expense-Office Equipment
15
221 Notes Payable
562 Depreciation Expense-Store Equipment
16
222 Interest Payable
591 Miscellaneous Administrative Expense
231 Salaries Payable
592 Miscellaneous Selling Expense
241 Sales Tax Payable
710 Interest Expense
EQUITY
310 Common Stock
311 Retained Earnings
312 Dividends

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