DEPOOL D selec (P8-1 E8-2A. Establishing and replenishing petty cash (15 min Required Reconcile the ledger and bank statement, and create the required journal entries. In general journal form, prepare journal entries to establish a petty cash fund on July 2 and replenish it on July 31. 2018 July 2 A $100 petty cash fund is established. 31 At the end of the month, $12 cash' plus the following paid vouchers exist: donations expense, $20; postage expense, $18; office supplies expense, $25; miscellaneous expense, $25. Cash shortage in replenishment (15 min E8-3A. If, in exercise E8-2A, cash on hand was $11, prepare the entry to replenish the petty cash on July 31. E8-4A. Cash overage in replenishment 3 (15 min) E8-5A. Calculating cash shortage in a change fund 6 (15 min) If, in exercise E8-2A, cash on hand was $13, prepare the entry to replenish the petty cash on July 31. At the end of the day, the clerk for Pete's Variety Shop noticed an error in the amount of cash he had. Total cash sales from the sales tape were $1,200, while the total cash in the till was $1,156. Pete also keeps a $30 change fund in his shop. Prepare an appropriate general journal entry to record the cash sales as well as reveal the cash shortage. FYERCISES GROUP A PROBLEMS Excel templates for templates for all questions are available in My Accountingl ab. Working papers for questions are available in the print Workbook) Consider the following bank statement and general ledger for Kalen's Spa Preparing a bank reconciliation 2 (20 min) Credit Balance Coro Figure Reconciled balance $19.500 Date Aug, 1 6 10 10 11 11 11 14 21 30 30 BANK STATEMENT Explanation Debit Opening balance Cheque No. 301 1,000 Cheque No. 302 2,000 EFT-monthly rent 800 Corsen Parker NSF cheque 500 NSF charge Cheque No. 303 575 Cheque No. 1234 3,000 Service charges 55 Interest on bank account 16,000 15,000 13,000 12,200 500 12,700 12,200 12,190 11,615 8,615 8,560 308,590 10 Credit GENERAL LEDGER-BANK Explanation Debit Opening balance Jaiden's Supplies--Cheque No. 301 Monique's Office Cheque No. 302 Corsen Parker 500 Outer Beauty Inc.--Cheque No. 303 Polish Care Ltd. Cheque No. 304 Deposit Date Aug, 1 3 4 11 19 23 31 1,000 2,000 Balance 16,000 15,000 13,000 13,500 11,925 9,835 19,835 1,575 2,090 10,000 Additional information: 1. On August 19, Kaelen's Spa purchased $575 worth of nail polish and supplies from Outer Beauty Inc. 2. The spa's cheque numbers are always three digits in length. BANKING PROCEDURES AND CONTROL OF CASH 371