Hello these are my confusing part could someone please help for me to compare with my answers so that I could catch where my mistakes from.
Wildhorse Boxes uses a petty cash imprest system. The fund was established on February 14 with a balance of $200. On February 28, there were $4 cash and the following petty cash receipts in the petty cash box. Date Receipt No. For Amount Feb. 15 1 Supplies $20 18 Miscellaneous expense 13 20 21 muswN Freight in (assume perpetual inventory system) 60 Supplies 27 22 Delivery charges on outgoing freight 33 27 Supplies 47 Record the journal entry on February 14 to establish the petty cash fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Feb. 14 LINK TO TEXT Record the journal entry on February 28 to replenish the fund and increase the balance to $350. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Feb. 28Record the journal entry on February 14 to establish the petty cash fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Feb. 14 LINK TO TEXT Record the journal entry on February 28 to replenish the fund and increase the balance to $350. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Feb. 28The following information is for Sandhill Video Company: 1. Cash balance per bank, July 31, $7,130. 2. July bank service charge not recorded by the depositor, $38. 3. Cash balance per books, July 31, $7,150. 4. Deposits in transit, July 31, $1,130. 5. Bank collected $620 note for Sandhill in July, plus interest $40, less fee $32. The collection has not been recorded by Sandhill, and no interest has been accrued. 6. Outstanding cheques, July 31, $520. Prepare a bank reconciliation at July 31. (List items that increase balance as per bank & books first.) SANDHILL VIDEO COMPANY Bank Reconciliation July 31 v v v$ v LINK TO TEXT Journalize the adjusting entries at July 31 on the books of Sandhill Video Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit July 31 [To record the bank service charge) July 31 (To record the collection of the note)The following information is for Sheridan Company: 1. Cash balance per bank, July 31, $6,332. 2. July bank service charge not recorded by the depositor, $28. 3. The bank erroneously charged another company's $600 cheque against Sheridan's account. 4. Cash balance per books, July 31, $7,554. 5 . The bank charged Sheridan's account $300 for a customer's NSF cheque. 6. Deposits in transit, July 31, $1,890. 7. Sheridan recorded a cash receipt from a cash sale from a customer as $32. The bank correctly recorded it as $23. 8. The bank collected a $1,080 note for Sheridan in July, plus interest of $31, less a fee of $17. The collection has not been recorded by Sheridan and no interest has been accrued. 9. Outstanding cheques, July 31, $511. Prepare a bank reconciliation at July 31. (List items that increase balance as per bank & books first.) SHERIDAN COMPANY Bank Reconciliation July 31 v v v v v v.v V v LINK TO TEXT Journalize the adjusting entries at July 31 on the books of Sheridan Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit July 31 (To record the bank service charge, correct deposit error and NSF cheque) July 31 (To record the collection of the note)
