Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Check my work PA5-4 (Algo) (Supplement 5A) Reporting Petty Cash Transactions [LO 5-5, LO 5-S1) The following information applies to the questions displayed below.) Harristown

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Check my work PA5-4 (Algo) (Supplement 5A) Reporting Petty Cash Transactions [LO 5-5, LO 5-S1) The following information applies to the questions displayed below.) Harristown Hockey Club (HHC) maintains a petty cash fund for minor club expenditures. The petty cash custodian, Wayne Crosby, describes the events that occurred during the last two months: a. I established the fund by cashing a check from HHC for $260 made payable to me. b. Tom Canuck provided a $72 receipt for repairs to the club's computer, so I paid $72 cash to him. c. Kim Harra provided a receipt for $52 for various supplies she planned to use to decorate the arena later this year, I paid $52 cash to her d. Trainer Jim bought some equipment that the club intends to use for the next few years. He gave me the receipt and I paid him $82 e. On the last day of the month, I prepared a summary of expenditures and requested the fund be replenished received and cashed a check from HHC for $206. placing the cash into a locked cash box Wendy Wignes provided receipts for supplies purchased for the club's office for use next month. I paid $127 cash to het g. Destiny Hook provided a phone bill showing she had paid $32 for telephone calls made to contact referees for the annual tournament. I paid her $32 cash h. Gutty McTavish submitted a receipt for $37 for a haircut he received. I did not pay him. 1. On the last day of the month, I received and cashed a check from HHC for $159. placing the cash into the locked cash box. M Sagnoul Help Save & Sus . 1. Prepare journal entries where required. (If no entry is required for a transaction event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet View transaction list Journal entry worksheet Tom Canuck provided a $72 receipt for repairs to the club's computer, so I paid $72 cash to him. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit b. M 1. Prepare journal entries where required. (If no entry is required for a transaction/event, select "No Journal Entry Re- first account field.) View transaction list Journal entry worksheet K 1 2 4 5 6 7 8 9 > Kim Harra provided a receipt for $52 for various supplies she planned to use to decorate the arena later this year. I paid $52 cash to her. Record the transaction. Note: Enter debits before credits Transaction Debit General Journal Credit C S GEN 1. Prepare journal entries where required. (If no entry is required for a transaction/event, select "No Journal Ent first account field.) View transaction list Journal entry worksheet Trainer Jim bought some equipment that the club intends to use for the next few years. He gave me the receipt and I paid him $82. Record the transaction. Note: Enter debits before credits Transaction General Journal Debit Credit d first account field.) required. (If no entry Is required for a transaction/event, select "No View transaction list Journal entry worksheet 4 6 8 9 > View transaction list Journal entry worksheet 1 2 3 5 7 8 9 > Wendy Wignes provided receipts for supplies purchased for the club's office for use next month. I paid $127 cash to her. Record the transaction. Note: Enter debits before credits Debit Credit Transaction General Journal f M lew transaction list Journal entry worksheet 3 Destiny Hook provided a phone bill showing she had paid $32 for telephone calls made to contact referees for the annual tournament. I paid her $32 cash. Record the transaction. Note: Enter debits before credits. Debit Credit Transaction General Journal 9. co 10 Next of 10 9 n. Gutty Mclavish submitted a receipt for $37 for a haircut he received. I did not pay him. 1. On the last day of the month, I received and cashed a check from HHC for $159, placing the cash into the locked cash box PA5-4 (Algo) Part 2 2. If HHC has $1,100 cash. $400 of government Treasury bills purchased four months ago, $770 of cash set aside for its workers' compensation insurance, how much will the company report on the balance sheet as "Cash and Cash Equivalents? Cash and Cash Equivalents

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting for Governmental and Nonprofit Entities

Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus

15th Edition

978-0256168723, 77388720, 256168725, 9780077388720, 978-007337960

More Books

Students also viewed these Accounting questions

Question

4. Give examples of five potential appraisal problems.

Answered: 1 week ago

Question

6. Explain how to install a performance management program.

Answered: 1 week ago