Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare jourmal entrios for each of the folowing (Aeler to the Chart of Acoounts for exact wording of account tities): Instructions a. On vuly 1

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Prepare jourmal entrios for each of the folowing (Aeler to the Chart of Acoounts for exact wording of account tities): Instructions a. On vuly 1 , issued a chock to estabish a pefty cash fund of $745 b. The amourt of cash in the poffy eash find is $102 iseued a check to repienish the fund, based on the following summary of petty cish mopiper. store supples. 5506 , and miscellsnocus seling exponse, \$86. Fecord any missing funds in the cash short and over acoount. instructions Chait of Agcounits CHART OF ACCOUNTS General Ledger (8) ASSETS ARVENUET 130 Cash 410 Salon its Petfy Gash 610 interest Revenue 120 Acoourfs Hecovable 151. Notes Recevrable EXPENSES 132. Hbrest Recainulin 510 Cost of Merchandse Sold 141 Merchandse Inventary. 415 Credt Card Expense 145 Ofice jupplies 516 Cash short and Orer 146 stire Sunclei. 520 Saluries Expense Chart of Accounts 531 Advertising Expense 151 Prepaid insurance 532 Delivery Expense 181 Land 533 Insurance Experise 191 Ollice Equpment 192 Accumulatod Dopreciation.Ofice Equipment 534 Once Supplies Expense 535 Rent Expense 193 Store Equipmen! 194 Accumulatod Deprecialion-store Equpinant 536 Repairs Expense 537 Seling Expenses: LABILTES 538 Store Supplies Expense 210 Nccounss Payable 561 Depreciation Expense-Otice Equipmont 221 Notes Payatie 532. Depreciation Expense-Store Equipment 222 intereat Payable 591 Miscelaneous Administrative Expenae 231 Salaries Payable 592 Miscellaneous Seling Expense 241. Sales Tax Payable 710 interest Expense a. Oi July 1 , iseapd a check to establsh a petiy cash fund of 5745 . Aofor bo the Char of Aceounts for exact wanding of accounf otes. \$6ot. mod eiscetaneout sefing axpense. \$6t. fleood any miesing hinds in the Fefer to the Charf of Acsounts for exact woring of moocunt twes. b. On Decomber 31, the amount of cash in the pelty cash fund is $102. issued a chack fo reptenish the fund, based on the toilowing summary of polfy cash receipts: stove supples, \$506, snd miscellaneous seling expense, \$86. Record any missing funds in the cash short and over accocin. Refer fo ihe Chart of Accouints for exact wording of account meses

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

Students also viewed these Accounting questions