Kathys Landscaping established a petty cash fund of $450 on February 1, 2015. On February 28, 2015,

Question:

Kathy’s Landscaping established a petty cash fund of $450 on February 1, 2015. On February 28, 2015, the petty cash on hand was $140.65, and the following receipts were found in the cash box:

Feb. 2. Inventory, $166.82.

9. Office supplies, $24.64.

16. IOU from Willie Smith, $40.00.

26. Paper, $72.53 (Office Supplies).

28. The company decided to close the petty cash fund.

Instructions

Journalize the necessary entries.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting

ISBN: 978-0176509743

Volume 1, 2nd canadian Edition

Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,

See More Books

Question Posted: Sep 15, 2015 01:53 AM

See More Questions

Ivan's Restoration Company completed the following selected transactions during October 2008: Oct. 1. Established a petty cash fund of $750. 15. The cash sales for the day, according to the cash...
Lairo Inc. established a petty cash fund of $150 on January 2. On January 31, the fund contained cash of $8.20 and vouchers for the following cash payments: Postage and office supplies ....... $76.30...
Minor Medical Center established a petty cash fund of $200 on January 2. On January 31, the fund contained cash of $18.50 and vouchers for the following cash payments: Maintenance expense .............
West State Furniture (WSF) manufactures desks and desk chairs using two departments within a single facility. The West Department produces the desks, and the State Department produces the chairs. WSF...
Use the sustainable growth rate equations from the previous problem to answer the following questions. No Return, Inc., had total assets of $380,000 and equity of $230,000 at the beginning of the...
If you were to make a promise to yourself that you would personally try to help your group avoid groupthink, what exactly would you do to fulfill it?
SPD Tax Service is a regional tax preparation firm that competes with such national chains as H&R Block. The company is considering expanding and needs a financial model to analyze the decision to...
Twain Services offers leadership training for local companies. It employs three levels of seminar leaders, based on experience, education, and management level being targeted: guru, mentor, and...
I am doing a retirement savings on excel, at age 21 I'm going to start making deposits from a percent of my salary and those deposits build interest at a rate of 6%. i plan to quit at age 65 and...
Mr. Lopez opened a mini grocery store with business name Lopez Fiesta Mart. Operations began on January 1, 2021, and the following transactions were completed during the month: 1.Mr. Lopez withdrew...
Lady Bug Express established a petty cash fund of $225 on August 1, 2015. On August 15, 2015, the petty cash fund was increased by $50. On August 31, 2015, the cash box contained $16 and receipts for...
Cold Ice Ltd. established a petty cash fund of $450 on October 1, 2015. The petty cash is replenished when the cash on hand is less than $100. On October 17, 2015, the petty cash on hand was $62.73....
Use the graph shown in FIGURE 1 at the beginning of this section (and repeated here) to work each exercise. Interpret the answer for Exercise 87, rounding down for the year. How does this compare to...
You are the manager of internal audit of Coverit Corporation, a large insurance company. One day you receive an urgent letter from the controller expressing his concerns about some organizational...
Daintree Ltd. is a large retailer that operates department stores in all major cities throughout Australia. Recently it has expanded its operations into Southeast Asia. Although each store operates...
Draw two points P and Q. Then sketch PQ. Add a point R on the ray so that Q is between P and R. C D A B FL E
Hypothesis testing and testing claims with confidence intervals are two different approaches that lead to the same conclusion. In the following activities, you will compare and contrast those two...
The following system of periodic tasks is scheduled and executed according to a cyclic schedule. Draw an execution trace (timeline) showing two occurances of each task. Ti ei Pi 1 8 T2 4 15 T3 3 20...
In a laser range-finding experiment, a pulse of laser light is fired toward an array of reflecting mirrors left on the moon by Apollo astronauts. By measuring the time it takes for the pulse to...
Prove the following D,(cos x) = - sin x (Hint: Apply the identity cos(A + B) = cos A cos B sin A sin B)
Research how governments and/or regulatory authorities in your country currently use XBRL. Discuss any potential benefits that can be obtained by its use.
When does tax allocation within a period become necessary? How should this allocation be handled?
When does tax allocation within a period become necessary? How should this allocation be handled?
During 2004, Natsume Sozeki Company earned income of $1,000,000 before income taxes and realized a gain of $450,000 on a government-forced condemnation sale of a division plant facility. The income...
Choose two stocks from the same industry to minimize the influence of other confounding factors. You choose the industry that you are relatively more familiar with, and then estimate the implied...
why should Undertake research to review reasons for previous profit or loss?
A pension fund's liabilities has a PV01 of $200 million. The plan has $100 billion of assets with a weighted average modified duration of 8. The highest duration bond that the plan can invest in has...

Kathys Landscaping established a petty cash fund of $450 on February 1, 2015. On February 28, 2015,

Question:

Step by Step Answer:

Accounting

Students also viewed these Accounting questions