In: Accounting
From the following details you are required to:
2018 $
Sept. 1 The head teacher gave $300 as float to the Petty
Cashier
Payments out of petty cash during September
Sept. 2 Petrol: School bus 16
Sept. 3 T. Keats – travelling expenses of staff 23
Sept. 3 Postage 12
Sept. 4 D. Twist – travelling expenses of staff 32
Sept. 7 Cleaning expenses 11
Sept. 9 Petrol: School bus 21
Sept. 12 K. Woods: Travelling expenses of staff 13
Sept. 14 Petrol: School bus 23
Sept. 15 L. Blake: Travelling expenses of staff 5
Sept. 16 Cleaning expenses 11
Sept. 18 Petrol bus 22
Sept. 20 Postage 12
Sept. 22 Cleaning expenses 11
Sept. 24 H. Williams – travelling expenses of staff 7
Sept. 27 Settlement of T. Clarke’s account in the purchases
Ledger (PL18) 13
Sept. 29 Postage 12
Sept. 30 The head teacher reimbursed the petty cashier the
amount spent in the month
Petty Cash Book | |||||||||
Receipt | Date | Details | Vchr No. | Total | school bus expenses | staff travelling expense | postage | Cleaning expenses | T. Clarke’s |
300 | 01-Sep | Cash | 1 | ||||||
02-Sep | Petrol: School bus | 1 | 16 | 16 | |||||
03-Sep | T. Keats – travelling expenses of staff | 2 | 23 | 23 | |||||
03-Sep | Postage | 3 | 12 | 12 | |||||
04-Sep | D. Twist – travelling expenses of staff | 4 | 32 | 32 | |||||
07-Sep | Cleaning expenses | 5 | 11 | 11 | |||||
09-Sep | Petrol: School bus | 6 | 21 | 21 | |||||
12-Sep | K. Woods: Travelling expenses of staff | 7 | 13 | 13 | |||||
14-Sep | Petrol: School bus | 8 | 23 | 23 | |||||
15-Sep | L. Blake: Travelling expenses of staff | 9 | 5 | 5 | |||||
16-Sep | Cleaning expenses | 10 | 11 | 11 | |||||
18-Sep | Petrol: School bus | 11 | 22 | 22 | |||||
20-Sep | Postage | 12 | 12 | 12 | |||||
22-Sep | Cleaning expenses | 13 | 11 | 11 | |||||
24-Sep | H. Williams – travelling expenses of staff | 14 | 7 | 7 | |||||
27-Sep | Settlement of T. Clarke’s account in the purchases | 15 | 13 | 13 | |||||
29-Sep | Postage | 16 | 12 | 12 | |||||
244 | 30-Sep | Cash | 2 | 0 | |||||
244 | 82 | 80 | 36 | 33 | 13 | ||||
Balance c/d | 300 | ||||||||
544 | 544 | ||||||||
300 | 01-Oct | Balance b/d | |||||||
Journal Entries | ||||
Date | Particulars | L.F | Debit | Credit |
01-Sep | Petty Cash A/c Dr | 300 | ||
Cash A/c | 300 | |||
( Being Cash Paid to petty cash) | ||||
30-Sep | School bus expenses A/c Dr | SBE 1 | 82 | |
Staff travelling expense A/c Dr | STE 1 | 80 | ||
Postage A/c Dr | POST 1 | 36 | ||
Cleaning expenses A/c Dr | CE 1 | 33 | ||
T. Clarke’s A/c Dr | PL 18 | 13 | ||
Petty Cash A/c | 244 | |||
( Being petty Expenses posted to petty cash account) | ||||
30-Sep | Petty Cash A/c Dr | 244 | ||
Cash A/c | 244 | |||
( Being Cash Paid to petty cash) | ||||
Petty Cash Account | |||||||
Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
01-Sep | Cash A/c | 300 | 30-Sep | School bus expenses A/c | JL -1 | 82 | |
30-Sep | Cash A/c | 244 | 30-Sep | Staff travelling expense A/c | JL -1 | 80 | |
30-Sep | Postage A/c | JL -1 | 36 | ||||
30-Sep | Cleaning expenses A/c | JL -1 | 33 | ||||
30-Sep | T. Clarke’s A/c | JL -1 | 13 | ||||
30-Sep | Balance c/d | 300 | |||||
544 | 544 | ||||||
01-Oct | Balance b/d | 300 | |||||
School bus expenses A/c - SBE -1 | |||||||
Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
30-Sep | Petty Cash A/c | JL -1 | 82 | ||||
Staff Travelling expense A/c - STE - 1 | |||||||
Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
30-Sep | Petty Cash A/c | JL -1 | 80 | ||||
Postage A/c - POST -1 | |||||||
Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
30-Sep | Petty Cash A/c | JL -1 | 36 | ||||
Cleaning Expenses A/c - CE -1 | |||||||
Date | Particulars | J.F | Amount | Date | Particulars | J.F | Amount |
30-Sep | Petty Cash A/c | JL -1 | 33 |
Related SolutionsFrom the following in 201X, record the transactions in Burbank’s auxiliary petty cash record and general...From the following in 201X, record the transactions in Burbank’s
auxiliary petty cash record and general journal as needed:
Oct. 1 A check was drawn (no. 444) payable to Eileen Cooper,
petty cashier, to establish a $200 petty cash fund.
Oct. 5 Paid $20 for postage stamps, voucher no. 1.
Oct. 9 Paid $11 for delivery charges on goods for resale,
voucher no. 2.
Oct. 12 Paid $16 for donation to a church (miscellaneous
expense), voucher no. 3.
Oct. 14...
Record entries in general journal form to record the following: Established a Petty Cash Fund, $100....Record entries in general journal form to record the
following:
Established a Petty Cash Fund, $100. Issued Ck. No. 587.
Reimbursed the Petty Cash Fund for expenditures of $89: Store
Supplies, $39; Office Supplies, $20; Miscellaneous Expense, $30.
Issued Ck. No. 595.
Increased the amount of the fund by an additional $75. Issued
Ck. No. 597.
Reimbursed the Petty Cash Fund for expenditures of $97.50:
Store Supplies, $36.50; Delivery Expense, $41.00; Miscellaneous
Expense, $20.00. Issued Ck. No. 599.
If an...
Record the following in John’s two-column cash book. Balance the cash book and bring down the...Record the following in John’s two-column cash book. Balance the
cash book and bring down the balances of cash in hand and cash at
bank at the end of the period. and open the necessary ledger
account.
2018
October 1st Introduced ₦5,000 cash into the business as
capital
October 5th Paid rent of ₦2000 cash
October 11th Receive cheque of ₦1000 from sales
October 15th Purchase good and paid ₦2000 by cheque
October 19th Pay Insurance ₦500 by cheque
October...
You are required to develop a petty cash system to ensure daily activities are carried out...You are required to develop a petty cash system to ensure daily
activities are carried out according to legislative
requirements.
i) Develop the policy
ii) Develop a guideline for work procedures for:
• carrying out a petty cash claim (for employees) and
• advancing and accepting a petty cash claim (for the petty cash
officer).
The documents must be appropriately formatted and presented.
Note: Providing any supporting forms is optional on this
occasion.
Journalizing petty cash Prepare the journal entries for the following petty cash transactions of Everly Gaming Supplies:Question Journalizing petty cash Prepare the journal entries for the following petty cash transactions of Everly Gaming Supplies:March 1 Established a petty cash fund with a $250 balance.31 The petty cash fund has $24 in cash and $235 in petty cash tickets that were issued to pay for Office Supplies ($35) and Entertainment Expense ($200). Replenished the fund and recorded the expenditures. April 15 Increased the balance of the petty cash fund to $300.
Q5. Record the following transactions in the three-column Cash Book of Sweetie Pie Enterprises for January...Q5. Record the following transactions in the three-column Cash
Book of Sweetie Pie Enterprises for January 2019.
Jan 1 Balances in Cash Book: Cash GH¢500 and Bank (Credit
balance) GH¢2,000
2 Invested additional
capital of GH¢12,000 cash
5 Deposited GH¢8,000 in the
bank
8 Received from Ramatu GH¢890
after allowing her a discount of GH¢5
12 Paid GH¢1200 to Ghartey after
allowing Sweetie Pie a discount of GH¢30
15 Bought goods for cash worth
GH¢700...
Problem 8 (LO3) PETTY CASH PAYMENTS RECORD AND JOURNAL ENTRIES On April 1, the Fitzgibbons Furniture...Problem 8 (LO3) PETTY CASH PAYMENTS RECORD AND JOURNAL
ENTRIES
On April 1, the Fitzgibbons Furniture Repair Shop
established a petty cash fund of $200. The following cash payments
were made from the petty cash fund during the first two weeks of
April. The fund was replenished to the $200 level on April 16.
Apr.
1 Paid $5.28 for postage due on a package received. Petty Cash
Voucher No. 10.
5 Made a $25 contribution to the Washington Township Baseball...
LockUp Corporation has the following items in the Petty Cash and Cash Collections combined as of...LockUp Corporation has the following items in the Petty Cash and
Cash Collections combined as of as of January 5, 2020 during the
checking of Cash for December 31, 2019 balance sheet.
a. Bills and Coins
Denomination
Bundle of 100 pcs
Rolls of 50 coins
Loose
P 500
1
9
100
2
27
50
3
5
20
5
4
10
10
5
6
4
1
10
20
.25
40
16
b. Checks
Maker
Payee
Date
Amount
Baran - Customer
LockUp
12/30/2019
P...
Chen Company established a $1,125 petty cash fund on January 1, Year 1. Required a. Is...Chen Company established a $1,125 petty cash fund on January 1,
Year 1. Required a. Is the establishment of the petty cash fund an
asset source, use, or exchange transaction?
b. Show the establishment of the petty cash fund in a horizontal
statements model like the following one: (In the Cash Flow column,
use the initials OA to designate operating activity, IA for
investing activity, and FA for financing activity. Enter any
decreases to account balances with a minus sign....
From the following balances you are required to calculate cash from operating activities. Name of accounts...From the following balances you are required to calculate cash
from operating activities.
Name of accounts
December31, 2015
December 31, 2016
Notes receivable
SR 7,800
SR 12,000
Notes payable
SR 22,000
SR 16,000
Accounts receivable
SR 49,000
SR 46,000
Furniture
SR 30,000
SR 38,000
Accounts payable
SR 30,000
SR 35,000
Advance Rent received
SR 9,000
SR 5,600
Prepaid expenses
SR 5,700
SR 4,200
Depreciation on Plant assets
SR 36,000
SR 45,000
Net Income during the year
-----
SR 160,000
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