31

Issued check No. 1600 for $50,292 to Smith Pipe Company in payment of purchase order

No. 317.

31

The custodian of the petty cash fund submits the following receipts for reimbursement

and reports a cash-on-hand count of $8.

Postage stampls used

$38

United Parcel (freight-out)

23

C.O.D postage (freight costs)

51

Christmas office decorations

30

Check No. 1601 is issued and cashed to reimburse the fund.

31

Sold an electric truck-lift to Leila Stierman Co. for $2,600 cash. The original cost was

$7,900 with salvage value of $900, a life of 10 years, and accumulated depreciation

recorded through 11/31/13 is $4,550. The straight-line method is used. (Note: the

company follows the practice of recording a half year's depreciation in the year of

acquisition and a half year in the year of disposal.) First, bring the depreciation expense

up to date in the general journal. Then journalize the entire entry for the sale in the cash

receipts journal.

31

Sold bathroom fixtures and plumbing supplies to Trudy's Plumbing on account, invoice

No. 1212 for $58,770.

31

Because for some time the petty cash fund has been smaller than required for monthly

expenditures, the fund is increased by $95 by cashing check No. 1602 and placing the

money in the petty cash fund.

31

The payroll summary for the monthly paid employees in submitted so that December

checks can be distributed before the year-end; the details are as follows:

Office and administrative salaries

$43,900

Federal income taxes withheld

7,696

State income taxes withheld

1,517

FICA taxes withheld

3,120

Net pay

$31,567

Issued check No, 1603 for the amount of the net pay and deposited it in the payroll bank

account. Individual payroll checks were prepared for distribution to all monthly employees

by the end of the day.

Employer's payroll taxes:

FICA tax (all office and administrative)

$3,120

Federal unemployment tax

0

State unemployment tax

0

31

Cash sale since December 12 total $29,280.

Instructions
1	Make the entries in the appropriate journal for December 25 through December 31.
	(adjusting entries are recorded in general journal)