On July 1, a petty cash fund was established for $100.00. The following vouchers were issued during
Question:
On July 1, a petty cash fund was established for $100.00. The following vouchers were issued during July:
REQUIRED
1. Prepare the journal entry to establish the petty cash fund.
2. Record the vouchers in the petty cash record. Total and rule the petty cash record.
3. Prepare the journal entry to replenish the petty cash fund. Make the appropriate entry in the petty cashrecord.
Transcribed Image Text:
Voucher No. Purposc Amount Date July 1 $ 3.00 office supplies donation (Goodwill) travel expenses postage duc office supplies postage due telephone call travel expenses withdrawal by owner (L. Ortiz) copier repair (miscellancous) 15.00 3 5.00 4 2.00 5 4.00 11 3.50 15 5.00 21 11.00 25 20.00 26 10 18.50 3578
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
1 and 3 2 and 3 DATE 20 July 1 Petty Cash Cash DESCRIPTION Establish pett...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
On July 1, a petty cash fund was established for S100.00. The following vouchers were issued during July: REQUIRED 1. Prepare the journal entry to establish the petty cash fund. 2. Record the...
-
On May 1, a petty cash fund was established for $150.00. The following vouchers were issued during May: REQUIRED 1. Prepare the journal entry to establish the petty cash fund. 2. Record the vouchers...
-
On August 1, City Delivery creates a petty cash fund with a balance of $450. During August, Eva Unger, the fund custodian, signs the following petty cash tickets: On August 31, prior to...
-
In a recent self-check, the store manager had her employees compare prices on 320 different items which were picked at random for cross-check. The employees recorded the shelf price and the price...
-
Jordan Quinn manages the local homeless shelter. He fears that a trusted employee has been stealing from the shelter. This employee receives cash from supporters and also prepares the monthly bank...
-
Assume that a body moving with velocity v encounters resistance of the form dv/dt = -kv 3/2 . Show that Conclude that under a 3/2 -power resistance a body coasts only a finite distance before coming...
-
Consider a strategy of the form \((\gamma, 0,0)\) for the investment wheel. Show that the overall factor multiplying your money after \(n\) steps is likely to be \((1+2 \gamma)^{n / 2}(1-\gamma)^{n /...
-
Current-Control Inc. manufactures a variety of electrical switches. The company is currently manufacturing all of its own component parts. An outside supplier has offered to sell a switch to...
-
Here is the link for data using in it :https://drive.google.com/drive/folders/1XCCzbwh8bxsWuiJI9LTVQnUPLMfXqQWj?usp=drive_link How do I get the system mass, spring ,damping, setting time the correct...
-
A reversible chemical reaction, A ? B, occurs in the isothermal continuous stirred-tank reactor shown in Fig. E. The rate expressions for the forward and reverse reactions are: Using the information...
-
The book balance in the checking account of Toris Health Center as of April 30 is $4,690.30. The bank statement shows an ending balance of $3,275.60. By examining last months bank reconciliation,...
-
Listed below are the weekly cash register tape amounts for service fees and the related cash counts during the month of July. A change fund of $200.00 is maintained. REQUIRED 1. Prepare the journal...
-
Show that for an ideal gas cp = cv + R u.
-
use http://www.principlesofeconometrics.com/stata/beer.dta 2. Describe the dataset: What can you tell me about the data? How could we use this data? Who would care about this data? 3. Choose 2...
-
Starlight.com Starlight.com manufactures bottled wine for retail chains. John Tsang, the controller, believes that the company's standard-costing system is ineffective. An independent consultant...
-
Anton's Fresh Fish and Produce is a wholesale distributor that operates in central Florida. An analysis of two of the company's customers, Seaside Spa and Sigma Assisted Living, reveals the data that...
-
Non-liquidating distributions can be dividends, return of capital, or capital gain income to a shareholder. What type of distribution would be capital gain?
-
1) As we keep on consuming more quantity of a commodity, how does that greater consumption of a good affects total utility and marginal utility? Answer should include the impact on BOTH total and...
-
Are there differences in entrepreneurial initiation in developed versus developing countries?
-
Modify the CYK algorithm so that it applies to any CFG, not just those in CNF.
-
All perceived probabilities are weighted lower than actual probabilities. Indicate whether each statement is true or false, and justify your answer.
-
The Hawk Company uses the periodic inventory system. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, (c) weighted-average methods. Loyola sells only one...
-
The Hawk Company uses the periodic inventory system. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, (c) weighted-average methods. Loyola sells only one...
-
Hobbs Companys March 1 inventory had a cost of $58,600 and a retail value of $74,800. During March, net purchases cost $253,400 with a retail value of $405,200. Net sales at retail for Hobbs Company...
-
How does PostgreSQL handle JSON and JSONB data types, and what are the benefits and trade-offs compared to traditional relational data modeling, especially in scenarios involving complex or...
-
Linux - choose how you will manage your software install packages? Analyse some advantages of using a package manager to manage software?
-
A firm produces output according to the production function Q = K1/2 1/2. The demand schedule for the output is P= 20 - Q. If K is fixed at 4 units, what is this firm's short-run demand curve for...
Study smarter with the SolutionInn App