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can i please get some help!! On April 2, Granger Sales decides to establish a $360 petty cash fund to relieve the burden on Accounting
can i please get some help!!
On April 2, Granger Sales decides to establish a $360 petty cash fund to relieve the burden on Accounting a. Journalize the establishment of the fund. It an amount box does not require an entry, leave blank Apr. 2 Petty Cash 200 Cash b. On April 10, the petty cash fund has receipts for mall and postage of 532. contributions and donations of $29, and meas and entertainment of $83, and 1212 in cash. Journalize the replenishment of the fund. If an amount box does not require an entry, leave it blank Apr. 10 Mail and Postage Expense Contributions and Donations Expanse Meals and Entertainment Expense Cash Short and Over Cash c. On April 11, Granger Sales decides to increase petty cash to $420. Joumalize this event. If an amount box does not require an enery, lewe it blank Apr. 11 Petty cash Cash Using the following information: 1. The bank statement balance is $4,848. 2. The cash account balance is $5,215. 3. Outstanding checks amounted to $787. 4. Deposits in transit are $1,106. 5. The bank service charge is $39. 6. A check for $30 for supplies was recorded as $21 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co. Bank Reconciliation May 31 Cash balance according to bank statement $ Adjusted balance $ $ Cash balance according to company's records DD Adjusted balance Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $932,000 and sales for the year total 510,570,000, a. The allowance account before adjustment has a credit balance of $12,600. Bad debt expense is estimated at 1/4 of 1% of sales. b. The allowance account before adjustment has a credit balance of $12,600. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $40,300. C. The allowance account before adjustment has a debit balance of $5,400. Bad debt expense is estimated at 3/4 of 1% of sales. d. The allowance account before adjustment has a debit balance of $5,400. An aging of the accounts in the customer ledger indicates estimated doubthul accounts $44,800. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through a) isted above a. $ b. $ CS d. Entries for Notes Receivable, including Year End Entries The following selected transactions were completed by Fasteners Inc. Co, a supplier of buttons and tippers for dothing 2013 Nov. 21. Received from McKenna Outer Wear Co, on account, a $54,000, 60-day, 8% note dated November 21 in settlement of a nast due account Dec. 31. Recorded an adjusting entry for accrued interest on the note of November 21. 2014 Jan. 20 Received payment of note and interest from McKenna Outer Wear Co Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank Assume a 360-day vear when calculating interest Hound answers to the nearest dollar amount. 2013, Nov. 21 Dec. 31 2014, Jan. 20 11 14 Step by Step Solution
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