Data tableTicket No.TtemAccount DebitedAmountTicket No. 1Delivery of programs to customers Delivery Expense%2425Ticket No. 2Mail packagePostage Expense20Ticket No. 3NewsletterPrintiig Expense30Ticket No. 4Key to closetMiscellaneous Expense35Ticket No. 5Сopier paperOffice Supplies70PrintDoneCouDELL Dance Studio created a $200 imprest petty cash fund. Duringthe month, the fund custodian authorized and signed petty cashtickets as follows:Requirement 1. Make the general journal entry to create the pettycash fund. Include an explanation. (Record debits first, then,credits. Select the explanation on the last line of the journalentry table.)DateAccounts and ExplanationDebitCreditRequirement 2. Make the general journal entry to record the pettycash fund replenishment. Cash in the fund totals $8. Include anexplanation. (Record debits first, then, credits. Select theexplanation on the last line of the journal entry table. Prepare asingle compound journal entry.)DateAccounts and ExplanationDebitCreditRequirement 3. Assume that Louise's Dance Studio decides todecrease the petty cash fund to $100. Make the general journalentry to record this decrease. (Record debits first, then, credits.Select the explanation on the last line of the journal entry table.)DateAccounts and ExplanationDebitCredit

The petty cash fund is established to maintain the cash balance for smaller cash transactions of the…

Dance Studio created a $200 imprest petty cash fund. During he month, the fund custodian authorized and signed petty cash ickets 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

Dance Studio created a $200 imprest petty cash fund. During he month, the fund custodian authorized and signed petty cash ickets 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

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 1MP

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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.
Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200. In the cash disbursements journal, the Accounts Payable column has total debits of $6,800 for November. The Accounts Payable credit column in the purchases journal reveals a total of $10,500 for the current month. Based on this information, what is the ending balance in the Accounts Payable account in the general ledger?
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 Explanation Date Debit Credit Requirements 1. Make the general journal entry to create the petty cash fund. Include an explanation. 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 cash fund to $260. Make the general journal entry to record this decrease. Print Done Petty Cash Tickets Petty Cash Ticket No. Item Account Debited Amount Ticket No. 1 Ticket No. 2 Delivery of programs to customers Delivery Expense Mail…
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…
On April 2, Granger Sales decides to establish a $280 petty cash fund to relieve the burden on ACcounting. a. Journalize the establishment of the fund. If an amount box does not require an entry, leave it blank. Apr. 2 b. On April 10, the petty cash fund has receipts for mail and postage of $41, contributions and donations of $19, and meals and entertainment of $109, and $107 in cash. Journalize the replenishment of the fund. If an amount box does not require an entry, leave it blank. Apr. 10 c. On April 11, Granger Sales decides to increase petty cash to $380. Journalize this event. If an amount box does not reguire an entry, leave it blank. Apr. 11
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
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?…
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
Bonita Company established a $110 petty cash fund on August 1. On August 31, the fund had $16 cash remaining and petty cash receipts for postage $41, office supplies $22, and miscellaneous expense $31.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