1. Brooks Agency set up a petty cash fund for $80. At the end of the current period, the fund contained $6 and had the following receipts entertainment. $38. postage. $28 end printing $8. 1. Brooks Agency set up a petty cash fund for $80. At the end of the current period, the fund contained $6 and hed the following receipts entertainment $38 postage. $28 and printing $8. Prepare journal entries to record (a) establishment of the fund and b) reimbursement of the fund at the end of the current period. Prepare journal entries to record (a) establishment of the fund and b) rembursement of the fund et the end of the current period. Vewanaton t Vwwansacton t Journal entry worksheet: Journal entry worksheet Record the reimbursement of the fund at the end of the current period. Record the establishment of the petty cash fund. Note Enter debits before credits Note Enter debts before gredits Transaction General Joumal Debi Credit Transaction General Joumal Debit Credit ta Recond eny Cary Vw peneral ua Recordentry Cear entry Vew general youmal

1. Brooks Agency set up a petty cash fund for $80. At the end of the current period, the fund contained $6 and had the following receipts entertainment. $38. postage. $28 end printing $8. 1. Brooks Agency set up a petty cash fund for $80. At the end of the current period, the fund contained $6 and hed the following receipts entertainment $38 postage. $28 and printing $8. Prepare journal entries to record (a) establishment of the fund and b) reimbursement of the fund at the end of the current period. Prepare journal entries to record (a) establishment of the fund and b) rembursement of the fund et the end of the current period. Vewanaton t Vwwansacton t Journal entry worksheet: Journal entry worksheet Record the reimbursement of the fund at the end of the current period. Record the establishment of the petty cash fund. Note Enter debits before credits Note Enter debts before gredits Transaction General Joumal Debi Credit Transaction General Joumal Debit Credit ta Recond eny Cary Vw peneral ua Recordentry Cear entry Vew general youmal

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

1. Brooks Agency set up a petty cash fund for $270. At the end of the current period, the fund contained $192 and had the following receipts: entertainment, $33, postage, $21, and printing, $24. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. View transaction list Journal entry worksheet Record the establishment of the petty cash fund. Nate: Enter debits befare oredits. Transaction General Journal Debit Credit 1a Hecord entry Clear entry View general journal
1. Brooks Agency set up a petty cash fund for $260. At the end of the current period, the fund contained $189 and had the following receipts: entertainment, $42; postage, $15; and printing, $14.Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. See attached photos
1. Brooks Agency set up a petty cash fund for $230. At the end of the current period, the fund contained $132 and had the following receipts: entertainment $42, postage $29, and printing $27. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. See attached images
Brooks Agency set up a petty cash fund for $150. At the end of the current period, the fund contained $28 and had the following receipts: entertainment, $70; postage, $30; and printing, $22. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period.
1. Brooks Agency set up a petty cash fund for $140. At the end of the current period, the fund contained $37 and had the following receipts: entertainment, $48; postage, $28; and printing, $27. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. 2. Identify the two events from the following that cause a Petty Cash account to be credited in a journal entry.
1. Brooks Agency set up a petty cash fund for $140. At the end of the current period, the fund contained $37 and had the following receipts: entertainment, $48, postage, $28; and printing, $27. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. 2. Identify the two events from the following that cause a Petty Cash account to be credited in a journal entry. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. View transaction list Journal entry worksheet < 1 2 Record the establishment of the petty cash fund. Note: Enter debits before credits. Transaction 1a General Journal Debit Credit Record entry Clear entry View general journal
Brooks Agency set up a petty cash fund for $150. At the end of the current period, the fund contained $28 and had the following receipts: entertainment, $70; postage, $30; and printing, $22. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period.Identify the two events from the following that cause a Petty Cash account to be credited in a journal entry._____ a.Fund amount is being reduced._____ b.Fund amount is being increased._____ c.Fund is being eliminated._____ d.Fund is being established.
Blake Company established a petty cash fund in the amount of $400. At the end of the accounting period, the petty cash box contained receipts for expenditures amounting to $180 and $215 in cash. If the company records both the disbursements and replenishments to the fund, what effect will replenishing the fund have on total assets and expenses? A. B. C. D. Total Assets -$ 180 -$ 185 -$ 185 -$ 180 Multiple Choice O Option A Option D Option B Option C Expenses +$ 185 +$ 185 +$ 180 +$ 180
2., On November 30, XYZ, Inc.'s petty cash fund of $150 is replenished. The fund contains cash of $30, and receipts for supplies of $75 and postage of $45. Prepare the journal entry to record the replenishment of the petty cash fund.
The petty cash fund had an initial imprest balance of $220. It currently has $17 in cash, $5 in miscellaneous petty cash tickets, and an additional $192in specific petty cash tickets. The debit to Cash Short & Over would be ________. A. $192 B. $6 C. $197 D. $17
The petty cash fund had an initial imprest balance of $100. It currently has $20 and petty cash tickets totaling $75 for office supplies. The entry to replenish the fund would contain a. a credit to Cash Short & Over for $5. b. a credit to Petty Cash for $80. c. a debit to Cash Short & Over for $5. d. a debit to Petty Cash for $80.
Cullumber Company established a petty cash fund on May 1 for $100. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $2.50. July 1: Cash in fund $3.00. Receipts: delivery expense $26.25, postage expense $36.25, and miscellaneous expense $33.00. Receipts: delivery expense $18.75, entertainment expense $46.25, and miscellaneous expense $32.00. On July 10, Cullumber increased the fund from $100 to $130. Prepare journal entries for Cullumber Company for May 1, June 1, July 1, and July 10. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, e.g. 52.75.)