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A petty cash fund was originally established with a check for $180. On December 31, the petty cash fund was replenished when there was $5.10 remaining and there were petty cash receipts for postage, $52.20; supplies, $62.22; and equipment repair, $58.80. Required: Prepare the journal entry, if any, required, to record the replenishment of the petty cash fund on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your final answer to two decimal places.) View transaction list Journal entry worksheet <>

A petty cash fund was originally established with a check for $180. On December 31, the petty cash fund was replenished when there was $5.10 remaining and there were petty cash receipts for postage, $52.20; supplies, $62.22; and equipment repair, $58.80. Required: Prepare the journal entry, if any, required, to record the replenishment of the petty cash fund on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your final answer to two decimal places.) View transaction list Journal entry worksheet <>

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5PB
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A petty cash fund was originally established with a check for $180. On December 31, the petty cash fund was replenished when there was $5.10 remaining and there were petty cash receipts for postage, $52.20; supplies, $62.22; and equipment repair, $58.80. Required: Prepare the journal entry, if any, required, to record the replenishment of the petty cash fund on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your final answer to two decimal places.) View transaction list Journal entry worksheet 1 <> Record replenishment of petty cash fund on Dec 31. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal
Transcribed Image Text:A petty cash fund was originally established with a check for $180. On December 31, the petty cash fund was replenished when there was $5.10 remaining and there were petty cash receipts for postage, $52.20; supplies, $62.22; and equipment repair, $58.80. Required: Prepare the journal entry, if any, required, to record the replenishment of the petty cash fund on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your final answer to two decimal places.) View transaction list Journal entry worksheet 1 <> Record replenishment of petty cash fund on Dec 31. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal
You are the accountant for Georgia Company and you have recently received the bank statement for your company's account and need to reconcile it with your general ledger cash account. Georgia's records show an ending balance for the month of $25,444.80 while the bank's records show an ending balance of $24,734.32. The bank charged $16 in service fees and paid $52.10 in interest. All but three checks written during the month were processed by the bank without incident during the month. The three exceptions were: Check #841 was correctly processed by the bank as $1,962.54 but was mistakenly recorded by you as $1,562.54. • Check #853 for $129.14 had not yet been processed by the bank. • Check #855 for $1,366.92 had not yet been processed by the bank. All but two of the deposits made during the month were processed by the bank without incident. The two exceptions were: A customer check for $615.90, which had been deposited during the month, was returned NSF. • A deposit totaling $1,226.74 had not yet been processed by the bank. Required: Using the information provided above, prepare a bank reconciliation. (Round your answers to 2 decimal places.) Bank Reconciliation Updates to Bank Statement Updates to Company's Books Ending Cash Balance per Bank Statement Ending Cash Balance per Books Additions: Additions: Deductions: Deductions: Up-to-date ending cash balance Up-to-date ending cash balance
Transcribed Image Text:You are the accountant for Georgia Company and you have recently received the bank statement for your company's account and need to reconcile it with your general ledger cash account. Georgia's records show an ending balance for the month of $25,444.80 while the bank's records show an ending balance of $24,734.32. The bank charged $16 in service fees and paid $52.10 in interest. All but three checks written during the month were processed by the bank without incident during the month. The three exceptions were: Check #841 was correctly processed by the bank as $1,962.54 but was mistakenly recorded by you as $1,562.54. • Check #853 for $129.14 had not yet been processed by the bank. • Check #855 for $1,366.92 had not yet been processed by the bank. All but two of the deposits made during the month were processed by the bank without incident. The two exceptions were: A customer check for $615.90, which had been deposited during the month, was returned NSF. • A deposit totaling $1,226.74 had not yet been processed by the bank. Required: Using the information provided above, prepare a bank reconciliation. (Round your answers to 2 decimal places.) Bank Reconciliation Updates to Bank Statement Updates to Company's Books Ending Cash Balance per Bank Statement Ending Cash Balance per Books Additions: Additions: Deductions: Deductions: Up-to-date ending cash balance Up-to-date ending cash balance
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