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 Wyoming Restoration Company General Ledger   ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Office Equipment 192 Accumulated Depreciation-Office Equipment 193 Store Equipment 194 Accumulated Depreciation-Store Equipment   LIABILITIES 210 Accounts Payable 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable   EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary   REVENUE 410 Sales 610 Interest Revenue

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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.
CHART OF ACCOUNTS
Wyoming Restoration Company
General Ledger
  ASSETS
110 Cash
111 Petty Cash
120 Accounts Receivable
131 Notes Receivable
132 Interest Receivable
141 Merchandise Inventory
145 Office Supplies
146 Store Supplies
151 Prepaid Insurance
181 Land
191 Office Equipment
192 Accumulated Depreciation-Office Equipment
193 Store Equipment
194 Accumulated Depreciation-Store Equipment
  LIABILITIES
210 Accounts Payable
221 Notes Payable
222 Interest Payable
231 Salaries Payable
241 Sales Tax Payable
  EQUITY
310 Common Stock
311 Retained Earnings
312 Dividends
313 Income Summary
  REVENUE
410 Sales
610 Interest Revenue
  EXPENSES
510 Cost of Merchandise Sold
515 Credit Card Expense
516 Cash Short and Over
520 Salaries Expense
531 Advertising Expense
532 Delivery Expense
533 Insurance Expense
534 Office Supplies Expense
535 Rent Expense
536 Repairs Expense
537 Selling Expenses
538 Store Supplies Expense
561 Depreciation Expense-Office Equipment
562 Depreciation Expense-Store Equipment
591 Miscellaneous Administrative Expense
592 Miscellaneous Selling Expense
710 Interest Expense
Journalize the transactions. Refer to the Chart of Accounts for exact wording of account tities.
PAGE 1
JOURNAL
ACCOUNTING EQUJATION
DATE
DESCRIPTION
POST. REF.
DEBIT
CREDIT
ASSETS
LIABILITIES
EQUITY
1
11
13
14
15
Transcribed Image Text:Journalize the transactions. Refer to the Chart of Accounts for exact wording of account tities. PAGE 1 JOURNAL ACCOUNTING EQUJATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 11 13 14 15
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