Sheffield Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of
Question:
Sheffield Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August.
Aug. 1 | Established the petty cash fund by writing a check payable to the petty cash custodian for $215. | |
15 | Replenished the petty cash fund by writing a check for $211.80. On this date, the fund consisted of $3.20 in cash and these petty cash receipts: freight-out $96, entertainment expense $48.90, postage expense $41.10, and miscellaneous expense $24.80. | |
16 | Increased the amount of the petty cash fund to $310 by writing a check for $95.00. | |
31 | Replenished the petty cash fund by writing a check for $293.10. On this date, the fund consisted of $16.90 in cash and these petty cash receipts: postage expense $138.90, entertainment expense $96.50, and freight-out $56.40. |
Journalize the petty cash transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.)
Date | Account Titles and Explanation | Debit | Credit | |
---|---|---|---|---|
choose a transaction date Aug. 1Aug. 15Aug. 16Aug. 31Correct answer | enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | |
enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | ||
| enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | |
enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | ||
enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | ||
enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | ||
enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | ||
enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | ||
choose a transaction date Aug. 1Aug. 15Aug. 16Aug. 31Correct answer | enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | |
enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | ||
| enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | |
enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | ||
enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | ||
enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer | ||
enter an account titleCorrect answer | enter a debit amountCorrect answer | enter a credit amountCorrect answer |
List of Accounts
(b)
Post to the Petty Cash account.
Petty Cash | |||
---|---|---|---|
choose a transaction date 8/18/168/31. Bal. | enter a debit amount | choose a transaction date 8/18/168/31. Bal. | enter a credit amount |
choose a transaction date 8/18/168/31. Bal. | enter a debit amount | choose a transaction date 8/18/168/31. Bal. | enter a credit amount |
choose the end date of the accounting period 8/18/168/31. Bal. | enter a debit balance | choose the end date of the accounting period 8/18/168/31. Bal. | enter a credit balance |
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso