Journal entry for: Feb1: paid rent for February amounting to $660, cheque#3354. Feb1: Tee R Us decided to establish a petty cash fund for the office. A cheque #3355 of $500 was issued and cashed
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- On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: A. On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $80. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment as it was month-end. The following are the receipts: Auto Expense $114, Supplies $75, Postage Expense $50, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.On September 1, French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries for the following transactions: A. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48. B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $210. C. On September 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $251, Supplies $88, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $20. D. On September 29, the company determined that the petty cash fund needed to be increased to $1,000. E. On September 30, the petty cash fund needed replenishment as it was month end. The following are the receipts: Auto Expense $18, Supplies $15, Postage Expense $57, Repairs and Maintenance Expense $49, Miscellaneous Expense $29. The cash on hand at this time was $837.Déjà Vu All Over Again Productions Inc. has the following transactions involving their petty cash fund duringthe month of February.A. On Feb 1, they set up the petty cash fund by writing a cheque to Bobby Banker, the custodian of the petty cash fund inthe amount of $200B. On Feb 11, Bobby paid $45 out of the petty cash for a new toner for the office printer. This amount is classified asSupplies Expense.C. On Feb 14, Bobby paid out $70 for coffee and donuts from Steimar Bake Shop for the office Valentines Day party.This amount is classified as Office Expense.D. On Feb 21, Bobby paid out $30 for postage to ensure the Tax Return was sent to CRA in time. This amount isclassified as Shipping Expense.E. On Feb 26, Bobby filed a claim for reimbursement for the petty cash expenditures during the month that totaled $145.Bobby also asked that the petty cash fund balance be increased to $300F. Feb 28, a cheque was issued to Bobby Banker, the custodian of the petty cash fund.RequiredPrepare the…
- A petty cash fund was originally established with a cheque for $150. On December 31, you find the following items in the petty cash fund: Postage Office supplies $43.50 51.85 Office equipment repair Cash 49.00 4.25 Prepare the general journal entry to record the replenishment of the petty cash fund on December 31. Short Answer Toolbar navigation2., 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.An invoice dated March 12 in the amount of $50,000 is received by Reliance Corporation on March 16. Cash discount terms on the invoice are 3/10, n/30. On March I6 Reliance mails a check in the amount of $8,000 as partial payment on the invoice. The outstanding balance owed on the invoice is:
- Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account titles): Instructions A. On March 1, Check is issued to establish a petty cash fund of $1,080. B. On April 1, the amount of cash in the petty cash fund is now $125. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $589; miscellaneous selling expense, $190; miscellaneous administrative expense, $150. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $1,080, record the discrepancy in the cash short and over account.)Black Water Company established a $75 petty cash fund on August 1. On August 31, the fund had $10 cash remaining and petty cash receipts for postage $19, office supplies $20, and entertainment $26.Prepare the journal entries for August. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Aug. 31Aug. 1 Aug. 1Aug. 31On March 1, a company established a $75 petty cash fund. On March 12, the petty cash fund contains $3 in cash and the following paid petty cash receipts: delivery expense $14.25; postage, $19.50; and repairs, $36. Give the general journal entry to reimburse the fund and to increase its amount to $150 on March 12.
- On March 20, Novak's petty cash fund of $118 is replenished when the fund contains $20 in cash and receipts for postage $47, supplies $19, and travel expense $32. Prepare the journal entry to record the replenishment of the petty cash fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Mar. 20 Debit CreditA petty cash fund was originally established with cheque for 150. On December 31, you find the FF items Prepare the general journal entry to record the replenishment of petty cash funds on December 31.Journalize the entries to record the following: Required: a. On March 1, check is issued to establish a petty cash fund of $1,035.* b. On April 1, The amount of cash in the petty cash fund is now $100. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $529; miscellaneous selling expense, $210; miscellaneous administrative expense, $163. If the amount of the check to replenish the fund plus the balance in the fund do not equal $1,035, record the discrepancy in the cash short and over account.* *Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
