The following transactions occurred in April and were related to the general journal and petty cash fund
Question:
The following transactions occurred in April and were related to the general journal and petty cash fund of Rick’s Deli of Regina.
2019 Apr.
1 Issued cheque No. 14 for $100 to establish a petty cash fund.
5 Paid $15 from petty cash for postage, voucher No. 1.
8 Paid $20 from petty cash for office supplies, voucher No. 2.
16 Paid $18 from petty cash for office supplies, voucher No. 3.
23 Paid $14 from petty cash for postage, voucher No. 4.
26 Paid $9 from petty cash for local church donation, voucher No. 5 (this is a miscellaneous payment).
29 Issued cheque No. 15 to Roy Kloon to pay for office equipment, $700.
26 Paid $9 from petty cash for local church donation, voucher No. 5 (this is a miscellaneous payment).
29 Issued cheque No. 15 to Roy Kloon to pay for office equipment, $700.
The chart of accounts includes Cash, 100; Petty Cash, 120; Office Equipment, 130; Postage Expense, 610; Office Supplies Expense, 620; Miscellaneous Expense, 630. The headings of the auxiliary petty cash records are as follows.
Required
1. Record the appropriate entries in the general journal as well as in the auxiliary petty cash record as needed.
2. Be sure to replenish the petty cash fund on April 30 (cheque No. 16).
Step by Step Answer:
College Accounting A Practical Approach
ISBN: 978-0134166698
13th Canadian edition
Authors: Jeffrey Slater, Debra Good