Christine's Dance Studio created a $400 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows:View the petty cash tickets.Read the requirements.Requirement 1. Make the general journal entry to create the petty cash fund. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.)Accounts and ExplanationDateDebitCreditRequirements1.Make the general journal entry to create the petty cash fund. Include anexplanation.2.3.Make the general journal entry to record the petty cash fund replenishment.Cash in the fund totals $249. Include an explanation.Assume that Christine's Dance Studio decides to decrease the petty cashfund to $260. Make the general journal entry to record this decrease.PrintDonePetty Cash TicketsPetty CashTicket No.ItemAccount DebitedAmountTicket No. 1Ticket No. 2Delivery of programs to customers Delivery ExpenseMail package$15-☑Ticket No. 3Ticket No. 4Ticket No. 5NewsletterKey to closetCopier paperPostage ExpensePrinting Expense40Miscellaneous ExpenseSupplies505525PrintDone

Step 1:Required journal entries for the petty cash funds are presented hereunder:No.DateAccounts and…

Answered: Christine's Dance Studio created a $400…

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 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.
Karen's Dance Studio created a $300 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows: E (Click the icon to view the petty cash tickets.) Read the requirements. Requirement 1. Make the general journal entry to create the petty cash fund. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit i Data Table i Requirements Petty Cash Ticket No. Item Make the general journal entry to create the petty cash fund. Include an explanation. 1. Account Debited Amount Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $115. Include an explanation. 2. Ticket No. 1 Delivery of programs to customers Delivery Expense $ 20 Ticket No. 2 Mail package Postage Expense 15 3. Assume that Karen's Dance Studio decides to decrease the petty cash fund to $170. Make the general journal…
Lon's Dance Studio created a $300 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows: E (Click the icon to view the petty cash tickets.) Read the requirements. Requirement 1. Make the general journal entry to create the petty cash fund. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Data table Requirements Petty Cash Ticket No. Item Account Debited Amount Ticket No. 1 Delivery of programs to customers Delivery Expense $ 20 1. Ticket No. 2 Mail package Postage Expense 10 Make the general journal entry to create the petty cash fund. Include an explanation. 2. Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $78. Include an explanation. Ticket No. 3 Newsletter Printing Expense 50 Ticket No. 4 Key to closet Miscellaneous Expense 55 Copier paper Office…
Dance Studio created a $200 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows: Requirement 1. Make the general journal entry to create the petty cash fund. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Requirement 2. Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $8. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table. Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit Requirement 3. Assume that Louise's Dance Studio decides to decrease the petty cash fund to $100. Make the general journal entry to record this decrease. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts…
Prepare journal entries for the following transactions, using the accounts in the order listed: PLEASE NOTE: For similar accounting treatment (DR or CR), you are to record accounts in the order in which they are mentioned in the transactions. On June 1, Kellie Company had decided to initiate a petty cash fund in the amount of $1,200. DR CR On June 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. DR DR DR DR DR DR or CR? CR 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. DR DR DR DR DR DR or CR?…
On February 1, Derrick Company establishes a $200 petty cash fund. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus. View transaction list Journal entry worksheet < 1 On February 1, Derrick Company establishes a $200 petty cash fund. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus. Note: Enter debits before credits. Date Feb. 1 General Journal Debit Credit
Hello, I need to do a general journal with the following directions: On May 1, a petty cash fund was established for $200 by the owner, Ilika Cash. The following vouchers were issued during the month. Prepare the journal entries to (a) establish the petty cash fund on May 1 and (b) replenish the petty cash fund on May 31. Date Voucher No. Purpose Amount 6 4-1 Office supplies 12.00 8 4-2 Taxi fare for customer (travel expense) 27.00 12 4-3 Postage due (Postage Expense) 4.00 17 4-4 Donation (Misc. Expense) 20.00 30 4-6 Ilika withdrew for personal use 50.00
← Lorena's Dance Studio created a $270 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows: (Click the icon to view the petty cash tickets.) Data table Petty Cash Ticket No. Ticket No. 1 Ticket No. 2 Ticket No. 3 Ticket No. 4 Ticket No. 5 Account Debited Delivery of programs to customers Delivery Expense Mail package Postage Expense Printing Expense Miscellaneous Expense Office Supplies Item Newsletter Key to closet Copier paper Amount $ 30 15 35 50 75 Requirements 1. Make the general journal entry to create the petty cash fund. Include an explanation. 2. Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $50. Include an explanation. 3. Assume that Lorena's Dance Studio decides to decrease the petty cash fund to $130. Make the general journal entry to record this decrease.
Turner Excavation maintains a checking account and has decided to open a petty cash fund. The following petty cash fund transactions occurred during July: July 2 Established a petty cash fund by issuing Check No. 301 for $100. 5 Paid $25 from the petty cash fund for postage. Voucher No. 1. 7 Paid $30 from the petty cash fund for delivery of flowers (Miscellaneous Expense). Voucher No. 2. 8 Paid $20 from the petty cash fund to repair a tire on the company truck. Voucher No. 3. 12 Paid $22 from the petty cash fund for a newspaper advertisement. Voucher No. 4. 13 Issued Check No. 303 to replenish the petty cash fund. (Total and rule the petty cash payments record. Record the balance and the amount needed to replenish the fund in the Description column of the petty cash payments record.) 20 Paid $26 from the petty cash fund to reimburse an employee for expenses incurred to repair the company truck. Voucher No. 5. 24 Paid $12.50 from the petty cash fund for phone calls…
Turner Excavation maintains a checking account and has decided to open a petty cash fund. The following petty cash fund transactions occurred during July: July 2 Established a petty cash fund by issuing Check No. 301 for $100. 5 Paid $25 from the petty cash fund for postage. Voucher No. 1. 7 Paid $30 from the petty cash fund for delivery of flowers (Miscellaneous Expense). Voucher No. 2. 8 Paid $20 from the petty cash fund to repair a tire on the company truck. Voucher No. 3. 12 Paid $22 from the petty cash fund for a newspaper advertisement. Voucher No. 4. 13 Issued Check No. 303 to replenish the petty cash fund. (Total and rule the petty cash payments record. Record the balance and the amount needed to replenish the fund in the Description column of the petty cash payments record.) 20 Paid $26 from the petty cash fund to reimburse an employee for expenses incurred to repair the company truck. Voucher No. 5. 24 Paid $12.50 from the petty…
Crane Company established a $100 petty cash fund on August 1. On August 31, the fund had $5 cash remaining and petty cash receipts for postage $31, office supplies $22, and miscellaneous expense $40.Prepare journal entries to establish the fund on August 1 and replenish the fund on August 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Aug. 1Aug. 31 Aug. 1Aug. 31

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