Horngren's Financial & Managerial Accounting, The Managerial Chapters, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (5th Edition)
5th Edition
ISBN: 9780134078922
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter C, Problem C.10SE
To determine
Cash Payments Journal: Cash payment journal is a form of special journal book which records the cash payments transactions which are being paid to suppliers or other sources.
To record: The transactions in the cash payment journal
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Issued a check to establish a petty cash fund of $550. If an amount box does not require an entry, leave it blank.
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b. The amount of cash in the petty cash fund is $190. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $211, and miscellaneous selling expense, $133. Record any missing funds in the cash short and over account. If an amount box does not require an entry, leave it blank.
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Entry for Cash Sales; Cash Over
The actual cash received from cash sales was $12,100 and the amount indicated by the cash register total was $12,074.
Journalize the entry to record the cash receipts and cash sales. If an amount box does not require an entry, leave it blank.
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D
Accounts Receivable
Accounts Payable
Cash Short and Over
Petty Cash
Prepare journal entries for each of the following:
a. Issued a check to establish a petty cash fund of $600. If an amount box does not require an entry, leave it blank.
Accounts Payable
Accounts Receivable
Cash
Cash Short and Over
Miscellaneous Selling Expense
Petty Cash
Store Supplies
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fill in the blank d5b6b7fad01d048_3
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b. The amount of cash in the petty cash fund is $200. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $235 and miscellaneous selling expense, $148. Record any missing funds in the cash short and over account. If an amount box does not require an entry, leave it blank.
Accounts Payable
Accounts Receivable
Cash
Notes Receivable
Petty Cash
Store Supplies
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Chapter C Solutions
Horngren's Financial & Managerial Accounting, The Managerial Chapters, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (5th Edition)
Ch. C - Prob. 1QCCh. C - Prob. 2QCCh. C - Prob. 3QCCh. C - Prob. 4QCCh. C - Prob. 5QCCh. C - Centex Sound Systems purchased merchandise...Ch. C - Every transaction recorded in the cash payments...Ch. C - Prob. 8QCCh. C - Prob. 9QCCh. C - What is an accounting information system (AIS)?
Ch. C - Prob. 2RQCh. C - Explain the three basic components of an...Ch. C - Prob. 4RQCh. C - What is the purpose of a subsidiary ledger?Ch. C - Prob. 6RQCh. C - List the four special journals often used in a...Ch. C - Explain the posting process of the sales journal.Ch. C - Provide some examples of transactions that would...Ch. C - Explain the posting process of the cash payments...Ch. C - When is the general journal used in a manual...Ch. C - Prob. 14RQCh. C - Prob. 15RQCh. C - Prob. 16RQCh. C - How would a business record a sale of services on...Ch. C - Prob. 18RQCh. C - Evaluating features of an effective accounting...Ch. C - Prob. C.2SECh. C - Identifying special journals Use the following...Ch. C - Prob. C.4SECh. C - Prob. C.6SECh. C - Prob. C.8SECh. C - Prob. C.9SECh. C - Prob. C.10SECh. C - Posting transactions from a cash payments journal...Ch. C - Prob. C.12SECh. C - Prob. C.13SECh. C - Recording transactions-sales journal Feb. 1 Sold...Ch. C - Prob. C.15ECh. C - Prob. C.16ECh. C - Prob. C.17ECh. C - Prob. C.18ECh. C - Prob. C.19ECh. C - Prob. C.20ECh. C - Prob. C.21ECh. C - Prob. C.22ECh. C - Prob. C.23ECh. C - Prob. C.24APCh. C - Using the purchases, cash payments, and general...Ch. C - Prob. C.26APCh. C - Prob. C.27BPCh. C - Prob. C.28BPCh. C - Prob. C.29BPCh. C - Prob. C.30CPCh. C - Prob. C.31PSCh. C - Prob. 1COPCh. C - Prob. C.1CTDCCh. C - Didrikson Rubin, the auditor of Red Barn Farm...Ch. C - Communication Activity C-1 In 150 words or fewer,...
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- Received a check for $72 from a customer, Mr. White. Mr. White owed you $124. Which journal would the company use to record this transaction? A. sales journal B. purchases journal C. cash receipts journal D. cash disbursements journal E. general journalarrow_forwardJournalize the following transactions using the direct write-off method of accounting for uncollectible receivables: Feb. 20 Received $1,000 from Andrew Warren and wrote off the remainder owed of $4,000 as uncollectible. May 10 Reinstated the account of Andrew Warren and received $4,000 cash in full payment. If an amount box does not require an entry, leave it blank. Feb. 20 Cash Cash Bad Debt Expense Bad Debt Expense Accounts Receivable-Andrew Warren Accounts Receivable-Andrew Warren May 10 Accounts Receivable-Andrew Warren Accounts Receivable-Andrew Warren Bad Debt Expense Bad Debt Expense May 10 Cash Cash Accounts Receivable-Andrew Warren Accounts Receivable-Andrew Warrenarrow_forwardUse the following cash payments journal to record the transactions. (If a box is not used in the journal leave the box empty; do not select any information and do not enter a zero.) A (Click the icon to view the transactions.) Cash Payments Journal Page 8 Ck. Post. Other Accounts Merchandise Date No. Account Debited Ref. Accounts DR Payable DR Inventory CR Cash CR 2024 Jan. More Info Jan. 5 Issued check no. 430 to purchase equipment for cash, $1,500. Jan. 7 Purchased merchandise inventory for cash, $400, issuing check no. 431. Jan. 18 Paid Knell Co. amount owed, $975, less $80 discount. Issued check no. 432. Jan. 28 Issued check no. 433 to pay utilities, $220. The bill was just received, and there is no liability recorded. Print Donearrow_forward
- Use the following cash payments journal to record the transactions. (If a box is not used in the journal leave the box empty; do not select any information and do not enter a zero.) A (Click the icon to view the transactions.) Cash Payments Journal Page 8 Ck. Post. Other Accounts Merchandise More Info Date No. Account Debited Ref. Accounts DR Payable DR Inventory CR Cash CR 2024 Jan. Jan. 5 Issued check no. 430 to purchase equipment for cash, $1,600. Jan. 7 Purchased merchandise inventory for cash, $400, issuing check no. 431. Jan. 18 Paid Kettle Co. amount owed, $1,025, less $25 discount. Issued check no. 432. Jan. 28 Issued check no. 433 to pay utilities, $290. The bill was just received, and there is no liability recorded. Print Donearrow_forwardJournalizing Cash Payments Lakeview Industries uses a cash payments journal. Prepare a cash payments journal using the same format and account titles as illustrated in the chapter. Record the following payments for merchandise purchased: Sept. 5 Issued Check No. 318 to Clausen Corp. for merchandise purchased August 28, $6,500, terms 2/10, n/30. Payment is made within the discount period. 12 Issued Check No. 319 to McGonigle Co. for merchandise purchased September 2, $8,000, terms 1/10, n/30. A credit memo had previously been received from McGonigle Co. for merchandise returned, $500. Payment is made within the discount period after deduction for the return dated September 8 19 Issued Check No. 320 to Elite Systems for merchandise purchased August 19, $3,500, terms n/30. 27 Issued Check No. 321 to Glenn Falls for merchandise purchased September 17, $6,500, terms 2/10, n/30. Payment is made within the discount period. If an amount box does not require an entry, leave it blank or enter…arrow_forwardJournalizing Cash Payments Lakeview Industries uses a cash payments journal. Prepare a cash payments journal using the same format and account titles as illustrated in the chapter. Record the following payments for merchandise purchased: Sept. 5 Issued Check No. 318 to Clausen Corp. for merchandise purchased August 28, $6,500, terms 2/10, n/30. Payment is made within the discount period. 12 Issued Check No. 319 to McGonigle Co. for merchandise purchased September 2, $8,000, terms 1/10, n/30. A credit memo had previously been received from McGonigle Co. for merchandise returned, $500. Payment is made within the discount period after deduction for the return dated September 8. 19 Issued Check No. 320 to Elite Systems for merchandise purchased August 19, $3,500, terms n/30. 27 Issued Check No. 321 to Glenn Falls for merchandise purchased September 17, $6,500, terms 2/10, n/30. Payment is made within the discount period. If an amount box does not require an entry, leave it…arrow_forward
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