Make entries in general journal form to record the following: 1. Establish a Petty Cash Fund, $300. 2. The amount of cash in the petty cash fund is now $10.05. Replenish the fund based on the following summary of petty cash vouchers: $62.20 Office Supplies $75.00 Postage $59.15 Miscellaneous $57.50 Repairs $50.00 Drawing

Make entries in general journal form to record the following: 1. Establish a Petty Cash Fund, $300. 2. The amount of cash in the petty cash fund is now $10.05. Replenish the fund based on the following summary of petty cash vouchers: $62.20 Office Supplies $75.00 Postage $59.15 Miscellaneous $57.50 Repairs $50.00 Drawing

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 6SEB

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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 $168, 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 $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, 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 $251, Supplies $88, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $20. D. On September 29, the company determined that the petty cash fund needed to be increased to $1,000. E. On September 30, the petty cash fund needed replenishment as it was month end. The following are the receipts: Auto Expense $18, Supplies $15, Postage Expense $57, Repairs and Maintenance Expense $49, Miscellaneous Expense $29. The cash on hand at this time was $837.
On July 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: A. On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $110. C. On June 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment, as it was month end. The following are the receipts: Auto Expense $14, Supplies $75, Postage Expense $150, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.
On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: A. On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $80. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment as it was month-end. The following are the receipts: Auto Expense $114, Supplies $75, Postage Expense $50, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.
Record the following transactions: A. Started a petty cash fund in the amount of $200. B. Replenished petty cash fund using the following expenses: Auto $15, Office Expenses $20, Postage Expense $81, Miscellaneous Expenses $66. Cash on hand is $10. C. Increased petty cash by $75.
Record the following transactions: A. Started a petty cash fund in the amount of $1,000. B. Replenished petty cash fund using the following expenses: Auto $61, Office Expenses $23, Postage Expense $57, Miscellaneous Expenses $30. C. The company has decided to reduce the petty cash fund to $600.
Record the following transactions: A. Started a petty cash fund in the amount of $500. B. Replenished petty cash fund using the following expenses: Auto $24, Office Expenses $43, Postage Expense $19, Miscellaneous Expenses $25. Cash on hand is $389. C. The company has decided to reduce the petty cash fund to $300.
A $100 petty cash fund has cash of $9 and receipts of $85. The journal entry to replenish the account would include a credit to Select one: a. Petty Cash for $85. b. Cash for $91. C. Cash Over and Short for $6. d. Cash for S85.
Help Save & EXit Assume that the custodian of a $450 petty cash fund has $59.50 in coins and currency plus $385.00 in receipts at the end of the month. The entry to replenish the petty cash fund will include: Multiple Choice A debit to Petty Cash for $385.00. A debit to Cash for $390.50. A credit to Cash for $390.50. here to search 5:03 PA 96% 3/7/202
A petty cash fund was originally established with a cheque for $150. On December 31, you find the following items in the petty cash fund: Postage Office supplies $43.50 51.85 Office equipment repair Cash 49.00 4.25 Prepare the general journal entry to record the replenishment of the petty cash fund on December 31. Short Answer Toolbar navigation
A $180 petty cash fund has cash of $20 and receipts of $146. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. credit to Cash for $180 debit to Cash for $20 debit to Cash Short and Over for $14 credit to Petty Cash for $146
A $144 petty cash fund has cash of $24 and receipts of $109. The journal entry to replenish the account would include a Oa. credit to Petty Cash for $109. Ob. credit to Cash for $144. Oc. debit to Cash for $24. Od. debit to Cash Short and Over for $11. Previous Next
A $150 petty cash fund has cash of $54 and receipts of $83. The journal entry to replenish the account would include a Select one: A. debit to Cash for $83 B. debit to Cash Short and Over for $13 C. credit to Petty Cash for $29 D. credit to Cash for $54