On July 1, a petty cash fund was established for $100. The following vouchers were issued duringJuly:General JournalDate Voucher No.PurposeAmountHow does grading work?PAGE 1July 11office supplies$ 3.00GENERAL JOURNALScore: 53/97donation (Goodwill)15.00DATEACCOUNT TITLEPOST. REF.DEBITCREDIT5.3travel expenses5.001Jul. 3174postage due2.0028office supplies4.00L.Ortiz, Drawing320.0011postage due3.5015phone call5Miscellaneous Expense18.505.00218.travel expenses11.007259withdrawal by owner (L. Ortiz) 20.008Cash87.0026copier repair (miscellaneous)18.504)610

General Journal is prepared belowGeneral Journal

y 1, a petty cash fund was established for $100. The following vouchers were issued during General Journal Date Voucher No. Purpose Amount How does grading work? uly 1 1 office supplies $ 3.00 GENERAL JOURNAL 3 donation (Goodwill) 15.00 DATE ACCOUNT TITLE POST. REF. DEBIT 3 travel expenses 5.00 Jul. 31 7 4 postage due 2.00 2 8 office supplies LOrtiz, Drawing 4.00 3 20.00 11 6. postage due 3.50 4. 15 7. phone call 5 Miscellaneous Expense 18.50 5.00 21 travel expenses 11.00 25 6. withdrawal by owner (L. Ortiz) 20.00 Cash 26 10 copier repair (miscellaneous) 18.50

y 1, a petty cash fund was established for $100. The following vouchers were issued during General Journal Date Voucher No. Purpose Amount How does grading work? uly 1 1 office supplies $ 3.00 GENERAL JOURNAL 3 donation (Goodwill) 15.00 DATE ACCOUNT TITLE POST. REF. DEBIT 3 travel expenses 5.00 Jul. 31 7 4 postage due 2.00 2 8 office supplies LOrtiz, Drawing 4.00 3 20.00 11 6. postage due 3.50 4. 15 7. phone call 5 Miscellaneous Expense 18.50 5.00 21 travel expenses 11.00 25 6. withdrawal by owner (L. Ortiz) 20.00 Cash 26 10 copier repair (miscellaneous) 18.50

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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am.106.
Question 5 of 6 View Policies Date Receipt No. 3/5 7 Current Attempt in Progress Sheridan Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $105. During March, the following petty cash receipts were found in the petty cash box. 9 11 14 1 2 3 4 For Stamps Freight-Out Miscellaneous Expense Travel Expense Miscellaneous Expense Amount $32 13 14 31 -/12 7 : The fund was replenished on March 15 when the fund contained $5 in cash. On March 20, the amount in the fund was increased to $200.
Required information Problem 6-24A (Algo) Petty cash fund LO 6-4 [The following information applies to the questions displayed below.) Austin Company established a petty cash fund by issuing a check for $286 and appointing Steve Mack as petty cash custodian. Mack had vouchers for the following petty cash payments during the month. Stamps Miscellaneous items Employee supper money Taxi fare Window-washing service $50 24 65 45 81 There was $20 of currency in the petty cash box at the time it was replenished. The four distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, (3) recognition of expenses, and (4) replenishment of the fund. Assume the company uses a traditional approach to petty cash expense recognition and replenishment.
Record entry for recognition of expenses and replenishment of the fund, record entry for reimbursements made by employee, record entry for petty cash found.
A $220 petty cash fund has cash of $10 and receipts of $206. The journal entry to replenish the account would include a credit to a.Cash Short and Over for $4. b.Petty Cash for $216. c.Cash for $210. d.Cash for $10.
I need help with A, B and C please
post to general ledger
unc.1 At end of the day, the cash register's record shows $180, but the count of cash in the cash register is $177. The correct entry to record the cash sales for the day is: A. Dr Cash 177Dr Cash over and short 3Cr Sales 180 B. Dr Cash 180Cr Cash over and short 3Cr Sales 177 C. Dr Cash 177 Cr Sales 177 D. Dr Cash 180 Cr Sales 180
A $210 petty cash fund has cash of $40 and receipts of $167. The journal entry to replenish the account would include a credit to a.Cash for $170. b.Cash for $40. c.Cash Short and Over for $3. d.Petty Cash for $207.
D5.
On May 1, a petty cash fund was established for $200. The following vouchers were issued during May. Date Voucher Purpose Amount May 1 1 Office supplies $ 3.00 3 2 Birthday gift for office worker (misc. exp.) 15.00 5 3 Mileage reimbursement 5.00 7 4 Postage due 2.00 8 5 Office supplies 4.00 11 6 Donation—Goodwill (contribution exp.) 10.00 15 7 Telephone call (telephone exp.) 5.00 21 8 Mileage reimbursement 11.00 23 9 Withdrawal by owner (Carla Sanchez) 20.00 25 10 Postage due 3.50 26 11 Office supplies 17.00 28 12 Copier repair (misc. exp.) 18.50 Required: 1. Prepare the journal entry to establish the petty cash fund on May 1. 2. Record the vouchers in the petty cash record. Total and rule the petty cash record. 3. Prepare the journal entry to replenish the petty cash fund. Make…
PA1. LO 8.5 On September 1, French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries for the following transactions: A. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense S168, Miscellaneous Expense $149. The cash on hand at this time was $48. B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense S18, Supplies $175, Postage Expense S50, Repairs and Maintenance Expense S269, Miscellaneous Expense $59. The cash on hand at this time was $210. C. On September 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense S251, Supplies $88, Postage Expense S63, Repairs and Maintenance Expense S182, Miscellaneous Expense $203. The cash on hand at this time was S20. D. On September 29, the company determined that the petty cash fund…