Answered step by step
Verified Expert Solution
Question
1 Approved Answer
PRACTICE EXERCISE 2 ( a ) Record the following transactions on a petty cash sheet. All petty cash vouchers will be numbered sequentially, beginning with
PRACTICE EXERCISE
aRecord the following transactions on a petty cash sheet. All petty cash vouchers will be numbered sequentially, beginning with # use the following tax rate HST
Nov The fund was started with $
Bought pads of writing paper for office, $
Paid for delivery of above stationery, $
Bought special order of merchandise, $
Paid for delivery of the above special order of merchandise by courier, $
Bought sugar and cream for staff kitchen, $no taxes
Paid for minor repairs to office furniture, $Debit Repairs Expense
Paid ABC Courier for delivering merchandise to customer, $
Bought packaging materials for warehouse, $
Paid for printing of advertising flyers, $
Paid for delivery of incoming merchandise, $
Contributed $ to Heart & Stroke Foundation no taxes
bTotal all columns and prove equal debits and credits. Calculate the cash on hand.
cMake an entry in the Cash Payments Journal to establish the fund on November Cheque # was issued.
dMake an entry in the Cash Payments Journal for the reimbursement of the fund on November Cheque # was issued.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started