Journalize the entries to record the following: a. Check No. 12-375 is issued to establish a...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Journalize the entries to record the following: a. Check No. 12-375 is issued to establish a petty cash fund of $800. b. The amount of cash in the petty cash fund is now $264. Check No. 12-476 is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $311; miscellaneous selling expense, $129; miscellaneous administrative expense, $80. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $500, record the discrepancy in the cash short and over account.) a. Journalize the entry to establish the petty cash fund. If an amount box does not require an entry, leave it blank. BE b. Journalize the entry to replenish the petty cash fund. For a compound transaction, if an amount box does not require an entry, leave it blank. Journalize the entries to record the following: a. Check No. 12-375 is issued to establish a petty cash fund of $800. b. The amount of cash in the petty cash fund is now $264. Check No. 12-476 is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $311; miscellaneous selling expense, $129; miscellaneous administrative expense, $80. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $500, record the discrepancy in the cash short and over account.) a. Journalize the entry to establish the petty cash fund. If an amount box does not require an entry, leave it blank. BE b. Journalize the entry to replenish the petty cash fund. For a compound transaction, if an amount box does not require an entry, leave it blank.
Expert Answer:
Answer rating: 100% (QA)
Petty Cash fund used 536 800264 Office Supplies 311 Miscellaneous ... View the full answer
Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Posted Date:
Students also viewed these accounting questions
-
Journalize the entries to record the following selected transactions: a. Sold $3,400 of merchandise on account, subject to a sales tax of 5%. The cost of the merchandise sold was $2,000. b. Paid...
-
Journalize the entries to record the following selected bond investment transactions for Olson Technologies: (a) Purchased for cash $90,000 of Hart Industries 7% bonds at 100 plus accrued interest of...
-
Journalize the entries to record the following selected bond investment transactions for First Union: (a) Purchased for cash $400,000 of Medford City 5% bonds at 100 plus accrued interest of $4,500....
-
The rigid bar AB is supported by a pin at B and by two the cables AC (perpendicular to the beam) and AD (inclined with respect to the beam) attached at A as shown in Fig. 3. A C 30 in D B 80 in...
-
Incomplete manufacturing cost data for Horizon Company for 2017 are presented as follows for four different situations. Instructions (a) Indicate the missing amount for each letter. (b) Prepare a...
-
In Exercises 35 through 40, use the chain rule to find dz/dt. Express your answer in terms of x, y, and t. 3x z = =; x = t, y = P y
-
CD Real Estate specializes in residential real estate services in the state of California. To complement the experience and local market knowledge of its licensed realtors, CD Real Estate wants to...
-
Compute the answers to each of the following independent situations. a. Orlando Ray sells liquid and spray mouthwash in a sales mix of 1:2, respectively. The liquid mouthwash has a contribution...
-
1. What have been some of the economic impacts of the war in Ukraine on theRussian economy? (Discuss at least 2 different impacts) 2. Discuss two reasons why global food shortages may occur as a...
-
A professor obtains SAT scores and freshman grade point averages (GPAs) for a group of n = 15 college students. The SAT scores have a mean of M = 580 with SS = 22,400, and the GPAs have a mean of...
-
Explain how the following functions of accounting software helps to prepare and monitor organisational budgets. (50 - 60 words each). Expense tracking Answer Here Words:0 Bank reconciliation Answer...
-
If PEDs do not cause irreparable harm to an athletes health, should they be permitted?
-
Should baseball and football follow the example of the IOC and disregard records set by players who have used PEDs?
-
You are tasked with analysing the last 2 years of accounts of a global mining firm. A simplified statement of financial position and income statement are provided below. 1. Using the information...
-
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn. An agreement that cannot be completed within six months must be in w riting.
-
Are unions good or bad for professional sports?
-
.......m a r k e t i n g r e l i e s on w o r d of m o u t h to b u i l d m o m e n t u m a n d i n t e r e s t f o r a a p r o d u c t or i d e a . a: N i c h e b: S o c i a l c: B u...
-
SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended...
-
Based upon the data in Exercise 15-1, discuss factors other than earnings per share that should be considered in evaluating such financing plans.
-
The Association of Retired Educators (ARE) employs five people in its Publication Department. These people lay out pages for pamphlets, brochures, and other publications for the ARE membership. The...
-
Cisco Systems, Inc., pioneered the concept of a "virtual close" of the financial records. A virtual close is described as follows: The traditional practice of closing a company's books on a monthly,...
-
Presented below is selected information related to Tsui Repairs at December 31, 2025. Tsui reports financial information monthly (amounts in thousands). a. Determine the total assets of Tsui Repairs...
-
Explain the career opportunities in accounting.
-
Collins Computer Timeshare entered into the following transactions during May 2025. 1. Purchased computers for R\($20,000\) from Digital Equipment on account. 2. Paid R\($4,000\) cash for May rent on...
Study smarter with the SolutionInn App