Question
1-) AS&BER Company has a $ 450 petty cash fund. The following transactions occurred in December: Dec. 2 The petty cash fund was increased to
1-)AS&BER Company has a $ 450 petty cash fund. The following transactions occurred in December:
Dec. 2 The petty cash fund was increased to $ 2,350.
8 Petty Cash Voucher No. 318 for $ 64.20 delivery expense was prepared and paid. The fund was not replenished at this time.
20 The company decided that the fund was too large and reduced it to $ 1,120.
journal entries for these transactions.:
2-)AS&BER Company deposits all cash receipts intact each day and makes all payments by check. On June 31, after all posting was completed, its Cash account had a debit balance of $ 4,000. The bank statement for the month ended on June 31 showed a balance of $ 3,663. Other data are:
Outstanding checks total $ 325.
June 31 cash receipts of $ 738 were placed in the bank's night depository and do not appear on the bank statement.
Bank service charges for June are $ 29.
Check No. 508 for store supplies on hand was entered at $ 305, but paid by the bank at its actual amount of $ 215.
Question: bank reconciliation for Holder Company as of June 31.
3-)ASBER is an online store that sells hygenic productsto users all over Turkey. Following are the balances obtained from its accounting records:
Accounts receivable - opening balance
250,000
Allowance for bad debts (debit balance) - opening balance
1,500
Sales revenue
850,000
Cash collected from customers
200,000
You are required:
To record adjusting entry in case allowance for doubtful debt is estimated 10 % of sales revenue partial balance sheet from available information.
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