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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 2PA
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The petty cash fund of Swifty’s Auto Repair Service, a sole proprietorship, contains the following.
The general ledger account Petty Cash has a balance of $ 350.
Prepare thejournal entry to record the reimbursement of the petty cash fund. (Round answers to 2 decimal places, e.g. 15.25. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
1. | Coins and currency | $ 18.40 | ||||
2. | Postage stamps | 6.10 | ||||
3. | An I.O.U. from Richie Cunningham, an employee, for cash advance | 43.20 | ||||
4. | Check payable to Swifty’s Auto Repair from Pottsie Weber, an employee, marked NSF | 37.20 | ||||
5. | Vouchers for the following: | |||||
Stamps | $ 23.20 | |||||
Two Rose Bowl tickets for Nick Swifty | 197.00 | |||||
Printer cartridge (Use the Office Supplies account) | 17.55 | 237.75 | ||||
$ 342.65 |
The general ledger account Petty Cash has a balance of $ 350.
Prepare the
There is space for 7 (potential) account titles.
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