Transactions for petty cash, cash short and over OBJ. 3, 6 Cedar Springs Company completed the following
Question:
Transactions for petty cash, cash short and over OBJ. 3, 6 Cedar Springs Company completed the following selected transactions during June 2016:
June 1. Established a petty cash fund of $1,000.
12. The cash sales for the day, according to the cash register records, totaled $9,440.
The actual cash received from cash sales was $9,506.
30. Petty cash on hand was $46. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:
June 2. Store supplies, $375.
10. Express charges on merchandise purchased, $105 (Merchandise Inventory).
14. Office supplies, $85.
15. Office supplies, $90.
18. Postage stamps, $33 (Office Supplies).
20. Repair to fax, $100 (Miscellaneous Administrative Expense).
21. Repair to office door lock, $25 (Miscellaneous Administrative Expense).
22. Postage due on special delivery letter, $9 (Miscellaneous Administrative Expense).
28. Express charges on merchandise purchased, $110 (Merchandise Inventory).
30. The cash sales for the day, according to the cash register records, totaled
$13,390. The actual cash received from cash sales was $13,350.
30. Increased the petty cash fund by $200.
Instructions Journalize the transactions.
Step by Step Answer:
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac