Purchased 20 Cheese wheels @ R10 each (excluding VAT) as well as 10 boxes of cream @R30 Each (excluding VAT) from J Creamery a local entrepreneur and pay from petty cash. The goods will be used as inventory. PCV01 was used. Purchased coffee and tea for the staff from The Local Café for R80 and paid using petty cash. PCV02 was used. Paid R800 for petrol for the delivery vehicle from petty cash. PCV03 was used. Paid bi-weekly wages of R300 from petty cash. PCV04 was used. 13 20 The owner Mrs Daisy took R200 from the petty cash for her own use. PCVO5 was used. 26 Purchased printing paper for R30 and cooldrinks for the staff of R60, from Pick n Pay and paid using petty cash. PCV06 was used. Paid bi-weekly wages of R300 from petty cash. PCV07 was used. 29 30 To celebrate Mrs. Daisy's birthday a cake was bought for the staff for R250. PCV08 was used.
Purchased 20 Cheese wheels @ R10 each (excluding VAT) as well as 10 boxes of cream @R30 Each (excluding VAT) from J Creamery a local entrepreneur and pay from petty cash. The goods will be used as inventory. PCV01 was used. Purchased coffee and tea for the staff from The Local Café for R80 and paid using petty cash. PCV02 was used. Paid R800 for petrol for the delivery vehicle from petty cash. PCV03 was used. Paid bi-weekly wages of R300 from petty cash. PCV04 was used. 13 20 The owner Mrs Daisy took R200 from the petty cash for her own use. PCVO5 was used. 26 Purchased printing paper for R30 and cooldrinks for the staff of R60, from Pick n Pay and paid using petty cash. PCV06 was used. Paid bi-weekly wages of R300 from petty cash. PCV07 was used. 29 30 To celebrate Mrs. Daisy's birthday a cake was bought for the staff for R250. PCV08 was used.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 20E
Related questions
Question
100%
Please help me fill in this table and answer the question
QUESTION:
OBJstores, a dairy shop, entered into the following Petty Cash transactions during March 2020. The
business is a registered VAT vendor and trades only with other registered vendors. They use a
perpetual inventory system, and all goods are marked up at 40% above cost, before taking into
account any trade discounts. A VAT rate of 15% is applicable
![Petty Cash Journal of OBJ Stores - March 2020
Doc. No
Day
Details
Petty
Input
Staff
Wages
Sundry Accounts
Cash
VAT
refreshments
Amount
Fol.
Details
Workings:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F67ddefe2-3997-47fb-b1dd-ddb5d6aa48ce%2F8918742d-8267-4b33-acd0-1f402fd4ab1a%2Fgu446dp_processed.png&w=3840&q=75)
Transcribed Image Text:Petty Cash Journal of OBJ Stores - March 2020
Doc. No
Day
Details
Petty
Input
Staff
Wages
Sundry Accounts
Cash
VAT
refreshments
Amount
Fol.
Details
Workings:
![OBJ stores, a dairy shop, entered into the following Petty Cash transactions during March 2020. The
business is a registered VAT vendor and trades only with other registered vendors. They use a
perpetual inventory system, and all goods are marked up at 40% above cost, before taking into
account any trade discounts. A VAT rate of 15% is applicable.
Transaction details
Purchased 20 Cheese wheels @ R10 each (excluding VAT) as well as 10 boxes of cream
Date
4
@R30 Each (excluding VAT) from J Creamery a local entrepreneur and pay from petty
cash. The goods will be used as inventory. PCV01 was used.
Purchased coffee and tea for the staff from The Local Café for R80 and paid using petty
7
cash. PCV02 was used.
Paid R800 for petrol for the delivery vehicle from petty cash. PCVO3 was used.
Paid bi-weekly wages of R300 from petty cash. PCV04 was used.
The owner Mrs Daisy took R200 from the petty cash for her own use. PCV05 was used.
Purchased printing paper for R30 and cooldrinks for the staff of R60, from Pick n Pay
and paid using petty cash. PCV06 was used.
Paid bi-weekly wages of R300 from petty cash. PCV07 was used.
To celebrate Mrs. Daisy's birthday a cake was bought for the staff for R250. PCV08 was
13
20
26
29
30
used.
Required:
Prepare the Petty cash journal for March 2020. You are not required to total the journal at the end
of the month. Round to two decimal places.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F67ddefe2-3997-47fb-b1dd-ddb5d6aa48ce%2F8918742d-8267-4b33-acd0-1f402fd4ab1a%2F9z5kdo9_processed.png&w=3840&q=75)
Transcribed Image Text:OBJ stores, a dairy shop, entered into the following Petty Cash transactions during March 2020. The
business is a registered VAT vendor and trades only with other registered vendors. They use a
perpetual inventory system, and all goods are marked up at 40% above cost, before taking into
account any trade discounts. A VAT rate of 15% is applicable.
Transaction details
Purchased 20 Cheese wheels @ R10 each (excluding VAT) as well as 10 boxes of cream
Date
4
@R30 Each (excluding VAT) from J Creamery a local entrepreneur and pay from petty
cash. The goods will be used as inventory. PCV01 was used.
Purchased coffee and tea for the staff from The Local Café for R80 and paid using petty
7
cash. PCV02 was used.
Paid R800 for petrol for the delivery vehicle from petty cash. PCVO3 was used.
Paid bi-weekly wages of R300 from petty cash. PCV04 was used.
The owner Mrs Daisy took R200 from the petty cash for her own use. PCV05 was used.
Purchased printing paper for R30 and cooldrinks for the staff of R60, from Pick n Pay
and paid using petty cash. PCV06 was used.
Paid bi-weekly wages of R300 from petty cash. PCV07 was used.
To celebrate Mrs. Daisy's birthday a cake was bought for the staff for R250. PCV08 was
13
20
26
29
30
used.
Required:
Prepare the Petty cash journal for March 2020. You are not required to total the journal at the end
of the month. Round to two decimal places.
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