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. XChart of Accounts

Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

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

See similar textbooks

Related questions

Concept explainers

Question

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.

Chart of Accounts

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Accounting for Cash and cash equivalents

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