Cadar Springs Company completed the following selected transactions during JuneJune 1. Established a petty cash fund of $930.12. The cash sales for the day, according to the cash register records, totaled $13,156.The actual cash received from cash sales was $13,211.30. Putty cash on hand was $71. Replenished the petty cash fund for the followingdisbursements, each evidenced by a petty cash receipt:June 2. Store supplies, $102.June 10. Express charges on merchandise purchased, $149 (Merchandise Inventory).June 14. Office supplies, $65.June 15. Office supplies, $74.June 18. Postage stamps, $78 (Office Supplies).June 12June 20. Repair to fax, $186 (Miscellaneous Administrative Expense).June 21. Repair to office door lock, $65 (Miscellaneous Administrative Expense).June 22. Postage due on special delivery letter, $50 (Miscellaneous Administrative Expense).June 28. Express charges on merchandise purchased, $74 (Merchandise Inventory).30. The cash sales for the day, according to the cash register records, totaled $21,199.The actual cash received from cash sales was $21,171.30. Increased the petty cash fund by $233.Required:Journalize the transactions. If an amount box does not require an entry, leave it blank.June 1June 30-ReplenishJune 30-SaleJune 30-Petty cash0000

Journal entries: Date General Journal Debit Credit June 1 Petty Cash $930 Cash…

June 1. Established a petty cash fund of $9.30. 12. The cash sales for the day, according to the cash register records, totaled $13,156. The actual cash received from cash sales was $13,211. 30. Putty cash on hand was $71. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt June 2. Store supplies, $102. June 10. Express charges on merchandise purchased, $140 (Marchandise Inventory). June 14, Office supplies, $65. June 15, Office supples, $74. June 18. Postage stamps, $78 (Office Supplies). June 20. Repair to fax, $186 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $65 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery litter, $50 (Miscellaneous Administrative Expense June 28. Express charges on merchandise purchased, $74 (Merchandise Inventory). 30. The cash sales for the day, according to the cash register records, totaled $21,100. The actual cash received from cash sales was $21,171. 30. Increased the petty cash fund by $233.

June 1. Established a petty cash fund of $9.30. 12. The cash sales for the day, according to the cash register records, totaled $13,156. The actual cash received from cash sales was $13,211. 30. Putty cash on hand was $71. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt June 2. Store supplies, $102. June 10. Express charges on merchandise purchased, $140 (Marchandise Inventory). June 14, Office supplies, $65. June 15, Office supples, $74. June 18. Postage stamps, $78 (Office Supplies). June 20. Repair to fax, $186 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $65 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery litter, $50 (Miscellaneous Administrative Expense June 28. Express charges on merchandise purchased, $74 (Merchandise Inventory). 30. The cash sales for the day, according to the cash register records, totaled $21,100. The actual cash received from cash sales was $21,171. 30. Increased the petty cash fund by $233.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 1PA: On September 1, French company has decided to initiate a petty cash fund in the amount of $800....

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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.
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 June 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 June 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 June 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 $220. C. On June 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 June 29, the company determined that the petty cash fund needed to be increased 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 $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $437.
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.
Cedar Springs Company completed the following selected transactions during June: June 1. Established a petty cash fund of $1,310. 12. The cash sales for the day, according to the cash register records, totaled $13,259. The actual cash received from cash sales was $13,277. 30. Petty cash on hand was $100. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: June 2. Store supplies, $144. June 10. Express charges on merchandise purchased, $210 (Merchandise Inventory). June 14. Office supplies, $92. June 15. Office supplies, $105. June 18. Postage stamps, $110 (Office Supplies). June 20. Repair to fax, $262 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $92 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery letter, $71 (Miscellaneous Administrative Expense). June 28. Express charges on merchandise purchased, $105 (Merchandise…
Cedar Springs Company completed the following selected transactions during June:June 1. Established a petty cash fund of $1,000.12. The cash sales for the day, according to the cash register records, totaled $9,440. The actual cash received from cash sales was $9,506.30. Petty cash on hand was $46. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:June 2. Store supplies, $375.10. Express charges on merchandise purchased, $105 (MerchandiseInventory).14. Office supplies, $85.15. Office supplies, $90.18. Postage stamps, $33 (Office Supplies).20. Repair to fax, $100 (Miscellaneous Administrative Expense).21. Repair to office door lock, $25 (Miscellaneous Administrative Expense).22. Postage due on special delivery letter, $9 (MiscellaneousAdministrative Expense).28. Express charges on merchandise purchased, $110 (MerchandiseInventory).30. The cash sales for the day, according to the cash register records, totaled $13,390. The actual cash…
Jeremiah Restoration Company completed the following selected transactions during January: Jan. 1. Established a petty cash fund of $730. 12. The cash sales for the day, according to the cash register records, totaled $12,146. The actual cash received from cash sales was $12,171. 31. Petty cash on hand was $133. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: Jan. 3. Store supplies, $392. 7. Express charges on merchandise sold, $31 (Delivery Expense). 9. Office supplies, $19. 13. Office supplies, $20. 19. Postage stamps, $14 (Office Supplies). 21. Repair to office file cabinet lock, $13 (Miscellaneous Administrative Expense). 22. Postage due on special delivery letter, $30 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $51 (Delivery Expense). 30. Office supplies, $7. Jan. 31. The cash sales for the day, according to the cash register records, totaled…
Jeremiah Restoration Company completed the following selected transactions during January: Jan. 1. Established a petty cash fund of $730. 12. The cash sales for the day, according to the cash register records, totaled $12,146. The actual cash received from cash sales was $12,171. 31. Petty cash on hand was $133. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: Jan. 3. Store supplies, $392. 7. Express charges on merchandise sold, $31 (Delivery Expense). 9. Office supplies, $19. 13. Office supplies, $20. 19. Postage stamps, $14 (Office Supplies). 21. Repair to office file cabinet lock, $13 (Miscellaneous Administrative Expense). 22. Postage due on special delivery letter, $30 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $51 (Delivery Expense). 30. Office supplies, $7. Jan. 31. The cash sales for the day, according to the cash register records, totaled…
Jeremiah Restoration Company completed the following selected transactions during January: Jan. 1. Established a petty cash fund of $750. 12. The cash sales for the day, according to the cash register records, totaled $11,494. The actual cash received from cash sales was $11,519. 31. Petty cash on hand was $157. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: Jan. 3. Store supplies, $398. 7. Express charges on merchandise sold, $32 (Delivery Expense). 9. Office supplies, $16. 13. Office supplies, $18. 19. Postage stamps, $13 (Office Supplies). 21. Repair to office file cabinet lock, $11 (Miscellaneous Administrative Expense). 22. Postage due on special delivery letter, $27 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $52 (Delivery Expense). 30. Office supplies, $8. Jan. 31. The cash sales for the day, according to the cash register records, totaled…
Jeremiah Restoration Company completed the following selected transactions during January: Jan. 1. Established a petty cash fund of $730. 12. The cash sales for the day, according to the cash register records, totaled $11,525. The actual cash received from cash sales was $11,551. 31. Petty cash on hand was $142. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: Jan. 3. Store supplies, $382. 7. Express charges on merchandise sold, $36 (Delivery Expense). 9. Office supplies, $17. 13. Office supplies, $21. 19. Postage stamps, $10 (Office Supplies). 21. Repair to office file cabinet lock, $14 (Miscellaneous Administrative Expense). 22. Postage due on special delivery letter, $30 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $60 (Delivery Expense). 30. Office supplies, $4. Jan. 31. The cash sales for the day, according to the cash register records, totaled…
Jeremiah Restoration Company completed the following selected transactions during January: Jan. 1. Established a petty cash fund of $745. 12. The cash sales for the day, according to the cash register records, totaled $12,987. The actual cash received from cash sales was $13,011. 31. Petty cash on hand was $154. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: Jan. 3. Store supplies, $387. 7. Express charges on merchandise sold, $34 (Delivery Expense). 9. Office supplies, $15. 13. Office supplies, $28. 19. Postage stamps, $12 (Office Supplies). 21. Repair to office file cabinet lock, $13 (Miscellaneous Administrative Expense). 22. Postage due on special delivery letter, $25 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $57 (Delivery Expense). 30. Office supplies, $7. Jan. 31. The cash sales for the day, according to the cash register records, totaled…
Jeremiah Restoration Company completed the following selected transactions during January:Jan. 1. Established a petty cash fund of $900.12. The cash sales for the day, according to the cash register records, totaled $6,148. The actual cash received from cash sales was $6,180.31. Petty cash on hand was $75. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:Jan. 3. Store supplies, $470.7. Express charges on merchandise sold, $55 (Delivery Expense).9. Office supplies, $30.13. Office supplies, $11.19. Postage stamps, $55 (Office Supplies).21. Repair to office file cabinet lock, $60 (Miscellaneous AdministrativeExpense).22. Postage due on special delivery letter, $30 (Miscellaneous Administrative Expense).24. Express charges on merchandise sold, $85 (Delivery Expense).30. Office supplies, $14.Jan. 31. The cash sales for the day, according to the cash register records, totaled $4,550. The actual cash received from cash sales was…