None Tamarisk, Inc. uses an imprest petty cash system. The fund was established on March 1 with a balance of $115. During March,the following petty cash receipts were found in the petty cash box.DateReceiptNo.ForAmount3/51Stamps$3872Freight-Out12Miscellaneous93Expense1010114Travel Expense38145MiscellaneousExpense9The fund was replenished on March 15 when the fund contained $6 in cash. On March 20, the fund was increased to $190.Journalize the entries in March that pertain to the operation of the petty cash fund. (Credit account titles areautomatically indented when amount is entered. Do not indent manually. Record journal entries in the orderpresented in the problem.)

The petty cash fund is refilled or reconciled by repaying the custodian for expenditures made,…

Tamarisk, Inc. uses an imprest petty cash system. The fund was established on March 1 with a balance of $115. Du the following petty cash receipts were found in the petty cash box. Date Receipt No. For 3/5 1 Stamps 7 2 Freight-Out Miscellaneous Amount $38 12

Tamarisk, Inc. uses an imprest petty cash system. The fund was established on March 1 with a balance of $115. Du the following petty cash receipts were found in the petty cash box. Date Receipt No. For 3/5 1 Stamps 7 2 Freight-Out Miscellaneous Amount $38 12

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 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 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 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.
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A company has decided to start a petty cash fund for $150. Which of the following is the correct journal entry? A. B. C. No entry is required. D.
Record the following transactions: A. Started a petty cash fund in the amount of $575 B. Replenished petty cash fund using the following expenses: Auto $18, Office Expenses $35, Postage Expense $56, Miscellaneous Expenses $67. Cash on hand is $399. C. Increased petty cash by $25.
Sandhill Boxes uses a petty cash imprest system. The fund was established on February 14 with a balance of $88. On February 28, there were $5 cash and the following petty cash receipts in the petty cash box: Date Receipt No. For Amount Feb. 15 1 Supplies $12 18 2 Postage expense 7 20 3 Freight in (assume perpetual inventory system) 24 21 4 Supplies 11 22 5 Delivery charges on outgoing freight 14 27 6 Supplies 21 Record the journal entry on February 14 to establish the petty cash fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Feb. 14 eTextbook and Media List of Accounts Debit Credit Record the journal entry on February 28 to replenish the fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the…
On September 1, ATP Enterprises has decided to initiate a petty cash fund in the amount of $900. 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 $148. B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $18, Supplies $185, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $49. The cash on hand at this time was $310. 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 $120. D. On September 29, the company determined that the petty cash fund…
Ernest Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $200. During March the following petty cash receipts were found in the petty cash box. Date 3/5 7 9 11 Receipt No. 1 Date 2 Mar. 15 4 For Stamp Inventory Freight-Out Miscellaneous Expense Travel Expense Amount $74 42 The fund was replenished on March 15 when the fund contained $9 in cash. On March 20, the amount in the fund was increased to $300. Account Titles and Explanation 22 Journalize the entries in March that pertain to the operation of the petty cash fund. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) 49 Debit Credit
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…
Oriole Boxes uses a petty cash imprest system. The fund was established on February 14 with a balance of $110. On February 28, there were $6 cash and the following petty cash receipts in the petty cash box: Date Feb. 15 (a) 18 20 21 22 27 Receipt No. 1 2 3 4 5 6 Supplies For Postage expense Freight in (assume perpetual inventory system) Supplies Delivery expenses Supplies Amount $11 7 33 14 19 26 Record the journal entry on February 14 to establish the petty cash fund. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List SUPP
On September 1, French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries using this information for the following transactions for questions 1-5. 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. What is the correct journal entry?