Homework Help is Here – Start Your Trial Now!
Business
Accounting
Wyoming Restoration Company completed the following selected transactions during July 20Y1: July 1. Established a petty cash fund of $1,100. 12. The cash sales for the day, according to the cash register records, totaled $8,192. The actual cash received from cash sales was $8,220. 31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: July 3. Store supplies, $580. 7. Express charges on merchandise sold, $90 (Delivery Expense). 9. Office supplies, $30. 13. Office supplies, $35. 19. Postage stamps, $50 (Office Supplies). 21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense). 22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $135 (Delivery Expense). 30. Office supplies, $25. July 31. The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash received from cash sales was $10,232. 31. Decreased the petty cash fund by $150. Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

Wyoming Restoration Company completed the following selected transactions during July 20Y1: July 1. Established a petty cash fund of $1,100. 12. The cash sales for the day, according to the cash register records, totaled $8,192. The actual cash received from cash sales was $8,220. 31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: July 3. Store supplies, $580. 7. Express charges on merchandise sold, $90 (Delivery Expense). 9. Office supplies, $30. 13. Office supplies, $35. 19. Postage stamps, $50 (Office Supplies). 21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense). 22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $135 (Delivery Expense). 30. Office supplies, $25. July 31. The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash received from cash sales was $10,232. 31. Decreased the petty cash fund by $150. Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 10SPB
See similar textbooks
icon
Related questions
Question

Wyoming Restoration Company completed the following selected transactions during July 20Y1:

July 1. Established a petty cash fund of $1,100.

12. The cash sales for the day, according to the cash register records, totaled $8,192. The actual cash received from cash sales was $8,220.

31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:

July 3. Store supplies, $580.

7. Express charges on merchandise sold, $90 (Delivery Expense).

9. Office supplies, $30.

13. Office supplies, $35.

19. Postage stamps, $50 (Office Supplies).

21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense).

22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense).

24. Express charges on merchandise sold, $135 (Delivery Expense).

30. Office supplies, $25.

July 31. The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash received from cash sales was $10,232.

31. Decreased the petty cash fund by $150.

Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

Transactions for petty cash, cash short and over Instructions Chart of Accounts Journal Instructions Chart of Accounts Journal Wyoming Restoration Company completed the following selected transactions during July 20Y1: CHART OF ACCOUNTS Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. July 1 Established a petty cash fund of $1,100. Wyoming Restoration Company 12. The cash sales for the day, according to the cash register records, totaled $8,192. The actual cash General Ledger PAGE 1 received from cash sales was $8,220. JOURNAL 31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each ASSETS REVENUE ACCOUNTING FOUATION. evidenced by a petty cash receipt: DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue July 3. Store supplies, $580. 2 120 Accounts Receivable 7. Express charges on merchandise sold, $90 (Delivery Expense). 3 131 Notes Receivable EXPENSES 9. Office supplies, $30. 4 132 Interest Receivable 510 Cost of Merchandise Sold 13 Office supplies, $35. 141 Merchandise Inventory 515 Credit Card Expense 5 19 Postage stamps, $50 (Office Supplies). 145 Office Supplies 516 Cash Short and Over 6 21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense). 146 Store Supplies 520 Salaries Expense 22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense). 151 Prepaid Insurance 531 Advertising Expense 24 Express charges on merchandise sold, $135 (Delivery Expense). 8 181 Land 532 Delivery Expense 30 Office supplies, $25. 9 191 Office Equipment 533 Insurance Expense 10 July 31. The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash 192 Accumulated Depreciation-Office Equipment 534 Office Supplies Expense 11 received from cash sales was $10,232. 193 Store Equipment 535 Rent Expense 12 31. Decreased the petty cash fund by $150. 194 Accumulated Depreciation-Store Equipment 536 Repairs Expense 537 Selling Expenses 13 LIABILITIES 538 Store Supplies Expense 14 Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. 210 Accounts Payable 561 Depreciation Expense-Office Equipment 15 221 Notes Payable 562 Depreciation Expense-Store Equipment 16 222 Interest Payable 591 Miscellaneous Administrative Expense 231 Salaries Payable 592 Miscellaneous Selling Expense 241 Sales Tax Payable 710 Interest Expense EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends
Transcribed Image Text:Transactions for petty cash, cash short and over Instructions Chart of Accounts Journal Instructions Chart of Accounts Journal Wyoming Restoration Company completed the following selected transactions during July 20Y1: CHART OF ACCOUNTS Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. July 1 Established a petty cash fund of $1,100. Wyoming Restoration Company 12. The cash sales for the day, according to the cash register records, totaled $8,192. The actual cash General Ledger PAGE 1 received from cash sales was $8,220. JOURNAL 31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each ASSETS REVENUE ACCOUNTING FOUATION. evidenced by a petty cash receipt: DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue July 3. Store supplies, $580. 2 120 Accounts Receivable 7. Express charges on merchandise sold, $90 (Delivery Expense). 3 131 Notes Receivable EXPENSES 9. Office supplies, $30. 4 132 Interest Receivable 510 Cost of Merchandise Sold 13 Office supplies, $35. 141 Merchandise Inventory 515 Credit Card Expense 5 19 Postage stamps, $50 (Office Supplies). 145 Office Supplies 516 Cash Short and Over 6 21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense). 146 Store Supplies 520 Salaries Expense 22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense). 151 Prepaid Insurance 531 Advertising Expense 24 Express charges on merchandise sold, $135 (Delivery Expense). 8 181 Land 532 Delivery Expense 30 Office supplies, $25. 9 191 Office Equipment 533 Insurance Expense 10 July 31. The cash sales for the day, according to the cash register records, totaled $10,241. The actual cash 192 Accumulated Depreciation-Office Equipment 534 Office Supplies Expense 11 received from cash sales was $10,232. 193 Store Equipment 535 Rent Expense 12 31. Decreased the petty cash fund by $150. 194 Accumulated Depreciation-Store Equipment 536 Repairs Expense 537 Selling Expenses 13 LIABILITIES 538 Store Supplies Expense 14 Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. 210 Accounts Payable 561 Depreciation Expense-Office Equipment 15 221 Notes Payable 562 Depreciation Expense-Store Equipment 16 222 Interest Payable 591 Miscellaneous Administrative Expense 231 Salaries Payable 592 Miscellaneous Selling Expense 241 Sales Tax Payable 710 Interest Expense EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Cash and cash equivalents
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS