Shamrock Airline needs to send out one of its employees to Nunavut for three weeks to perform some repairs on some aircraft it owns. Some of the payments to be made for the supplies needed on the assignment will be paid from a petty cash fund. Shamrock issued a cheque in the amount of $800.00 to establish the fund. After a few days at the assignment, the employee returned the following vouchers and receipts along with a report that the fund had $71.00 left in cash. Shamrock decided to increase the petty cash fund to $1,000.00. Receipt Amount Description $25.70 Taxi ride from airport to job site NUIAWN 43.10 FedEx charges for delivering plane parts 35.80 Long distance telephone charges 74.75 Cleaning supplies - all used 334.25 Air freight to ship parts out for overhaul 93.75 Small tools replaced 47.70 Tarp to protect engine from elements 67.00 Grease and oil supplies - all used Prepare the journal entry 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.) Account Titles and Explanation Debit Credit Prepare the journal entry to replenish the fund to $800.00. (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. Round answers to 2 decimal places, e.g. 52.75.) Account Titles and Explanation Debit CreditPrepare the journal entry 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.) Account Titles and Explanation Debit Credit Prepare the journal entry to replenish the fund to $800.00. (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. Round answers to 2 decimal places, e.g. 52.75.) Account Titles and Explanation Debit Credit Prepare the journal entry to increase the fund to $1,000.00. (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.)Prepare the journal entry to replenish the fund to $800.00. (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. Round answers to 2 decimal places, e.g. 52.75.) Account Titles and Explanation Debit Credit Prepare the journal entry to increase the fund to $1,000.00. (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.) Account Titles and Explanation Debit CreditSplish Brothers uses a periodic inventory system. In April, 600 units were sold and the following additional information is available: Units Unit Cost Total Cost April 1 inventory 250 $12.00 $3,000 April 15 purchase 400 18.00 7,200 April 23 purchase 350 22.00 7,700 1,000 $17,900 Calculate the April 30 inventory and the April cost of goods sold using the weighted average cost formula. (Round the weighted average cost per unit to 2 decimal places, e.g. 15.25.) April 30 inventory April cost of goods sold Calculate the April 30 inventory and the April cost of goods sold using the FIFO cost formula. April 30 inventory April cost of goods sold
