July Established a petty cash fund of $1,100. 1. The cash sales for the day, according to the cash register records, |12. totaled $8,192. The actual cash received from cash sales was $8,220. Petty cash on hand was $47. Replenished the petty cash fund for 31. the following disbursements, each evidenced by a petty cash receipt: July Store supplies, $580. 3 Express charges on merchandise sold, $90 (Delivery 7. Expense). 9. Office supplies, $30. 13. Office supplies, $35. 19. Postage stamps, $50 (Office Supplies). Repair to office file cabinet lock, $60 (Miscellaneous 21. Administrative Expense). Postage due on special delivery letter, $28 (Miscellaneous 23. Administrative Expense). Express charges on merchandise sold, $135 (Delivery 24. Expense). 30. Office supplies, $25. The cash sales for the day, according to the cash register records, 31. totaled $10,241. The actual cash received from cash sales was $10,232. 31. Decreased the petty cash fund by $ 150.

July Established a petty cash fund of $1,100. 1. The cash sales for the day, according to the cash register records, |12. totaled $8,192. The actual cash received from cash sales was $8,220. Petty cash on hand was $47. Replenished the petty cash fund for 31. the following disbursements, each evidenced by a petty cash receipt: July Store supplies, $580. 3 Express charges on merchandise sold, $90 (Delivery 7. Expense). 9. Office supplies, $30. 13. Office supplies, $35. 19. Postage stamps, $50 (Office Supplies). Repair to office file cabinet lock, $60 (Miscellaneous 21. Administrative Expense). Postage due on special delivery letter, $28 (Miscellaneous 23. Administrative Expense). Express charges on merchandise sold, $135 (Delivery 24. Expense). 30. Office supplies, $25. The cash sales for the day, according to the cash register records, 31. totaled $10,241. The actual cash received from cash sales was $10,232. 31. Decreased the petty cash fund by $ 150.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 4EA: Record the following transactions: A. Started a petty cash fund in the amount of $500. B....

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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.
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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