Cadar Springs Company completed the following selected transactions during JuneJune 1. Established a petty cash fund of $930.12. The cash sales for the day, according to the cash register records, totaled $13,156.The actual cash received from cash sales was $13,211.30. Putty cash on hand was $71. Replenished the petty cash fund for the followingdisbursements, each evidenced by a petty cash receipt:June 2. Store supplies, $102.June 10. Express charges on merchandise purchased, $149 (Merchandise Inventory).June 14. Office supplies, $65.June 15. Office supplies, $74.June 18. Postage stamps, $78 (Office Supplies).June 12June 20. Repair to fax, $186 (Miscellaneous Administrative Expense).June 21. Repair to office door lock, $65 (Miscellaneous Administrative Expense).June 22. Postage due on special delivery letter, $50 (Miscellaneous Administrative Expense).June 28. Express charges on merchandise purchased, $74 (Merchandise Inventory).30. The cash sales for the day, according to the cash register records, totaled $21,199.The actual cash received from cash sales was $21,171.30. Increased the petty cash fund by $233.Required:Journalize the transactions. If an amount box does not require an entry, leave it blank.June 1June 30-ReplenishJune 30-SaleJune 30-Petty cash0000

Journal entries: Date General Journal Debit Credit June 1 Petty Cash $930 Cash…

June 1. Established a petty cash fund of $9.30. 12. The cash sales for the day, according to the cash register records, totaled $13,156. The actual cash received from cash sales was $13,211. 30. Putty cash on hand was $71. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt June 2. Store supplies, $102. June 10. Express charges on merchandise purchased, $140 (Marchandise Inventory). June 14, Office supplies, $65. June 15, Office supples, $74. June 18. Postage stamps, $78 (Office Supplies). June 20. Repair to fax, $186 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $65 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery litter, $50 (Miscellaneous Administrative Expense June 28. Express charges on merchandise purchased, $74 (Merchandise Inventory). 30. The cash sales for the day, according to the cash register records, totaled $21,100. The actual cash received from cash sales was $21,171. 30. Increased the petty cash fund by $233.

June 1. Established a petty cash fund of $9.30. 12. The cash sales for the day, according to the cash register records, totaled $13,156. The actual cash received from cash sales was $13,211. 30. Putty cash on hand was $71. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt June 2. Store supplies, $102. June 10. Express charges on merchandise purchased, $140 (Marchandise Inventory). June 14, Office supplies, $65. June 15, Office supples, $74. June 18. Postage stamps, $78 (Office Supplies). June 20. Repair to fax, $186 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $65 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery litter, $50 (Miscellaneous Administrative Expense June 28. Express charges on merchandise purchased, $74 (Merchandise Inventory). 30. The cash sales for the day, according to the cash register records, totaled $21,100. The actual cash received from cash sales was $21,171. 30. Increased the petty cash fund by $233.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 1PA: On September 1, French company has decided to initiate a petty cash fund in the amount of $800....

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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 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 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.