cash transactions Tao Vang owns a business called Fast Print. Selected general ledger accounts are given...
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cash transactions Tao Vang owns a business called Fast Print. Selected general ledger accounts are given below. Forms are given in the Recycling Problem Working Papers. 110 Cash 115 Petty Cash 120 Accts. Rec-Corner Cafe 130 Supplies 140 Prepaid Insurance 320 Tao Vang, Drawing 520 Miscellaneous Expense 530 Rent Expense Instructions: 1. Journalize the following transactions completed during May of the current year. Use page 12 of a journal Source documents are abbreviated as follows: check, C memorandum, M. Transactions: May 21. Paid cash to establish a petty cash fund, $150.00. CS1. 24. Paid cash for supplies, $72.00. CS2. 26. Paid cash for repairs, $85.00. C53. 27. Received notice from the bank of a dishonored check from Corner Cafe, $70.00, plus $25.00 fee; total, $95.00, M22. 28. Paid cash for miscellaneous expense, $42.00, C54. 31. Paid cash to owner for personal use, $200.00. CSS. 535 Repair Expense 540 Supplies Expense 550 Utilities Expense 31. Paid cash to replenish the petty cash fund, $105.00: supplies, $85.00; miscellaneous expense, $20.00. C56. 2. On May 31 of the current year, Fast Print received a bank statement dated May 30. Prepare a bank statement reconciliation. Use May 31 of the current year as the date. The following information is obtained from the May 30 bank statement and from the records of the business. Bank statement balance Bank service charge Outstanding deposit, May 31 Outstanding checks, Nos. 55 and 56 Checkbook balance on Check Stub No. 57 3. Continue using the journal and joumalize the following transaction Transaction: May 31. Received bank statement showing May bank service charge, $25.00 23. $1,586.00 25.00 285.00 $1,591.00 cash transactions Tao Vang owns a business called Fast Print. Selected general ledger accounts are given below. Forms are given in the Recycling Problem Working Papers. 110 Cash 115 Petty Cash 120 Accts. Rec-Corner Cafe 130 Supplies 140 Prepaid Insurance 320 Tao Vang, Drawing 520 Miscellaneous Expense 530 Rent Expense Instructions: 1. Journalize the following transactions completed during May of the current year. Use page 12 of a journal Source documents are abbreviated as follows: check, C memorandum, M. Transactions: May 21. Paid cash to establish a petty cash fund, $150.00. CS1. 24. Paid cash for supplies, $72.00. CS2. 26. Paid cash for repairs, $85.00. C53. 27. Received notice from the bank of a dishonored check from Corner Cafe, $70.00, plus $25.00 fee; total, $95.00, M22. 28. Paid cash for miscellaneous expense, $42.00, C54. 31. Paid cash to owner for personal use, $200.00. CSS. 535 Repair Expense 540 Supplies Expense 550 Utilities Expense 31. Paid cash to replenish the petty cash fund, $105.00: supplies, $85.00; miscellaneous expense, $20.00. C56. 2. On May 31 of the current year, Fast Print received a bank statement dated May 30. Prepare a bank statement reconciliation. Use May 31 of the current year as the date. The following information is obtained from the May 30 bank statement and from the records of the business. Bank statement balance Bank service charge Outstanding deposit, May 31 Outstanding checks, Nos. 55 and 56 Checkbook balance on Check Stub No. 57 3. Continue using the journal and joumalize the following transaction Transaction: May 31. Received bank statement showing May bank service charge, $25.00 23. $1,586.00 25.00 285.00 $1,591.00
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College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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