Question
Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions during June: June 1. Established a petty cash fund
Transactions for Petty Cash, Cash Short and Over
Cedar Springs Company completed the following selected transactions during June:
| June 1. | Established a petty cash fund of $1,410. |
| 12. | The cash sales for the day, according to the cash register records, totaled $9,885. |
| The actual cash received from cash sales was $9,925. | |
| 30. | Petty cash on hand was $107. Replenished the petty cash fund for the following |
| disbursements, each evidenced by a petty cash receipt: | |
| June 2. Store supplies, $155. | |
| June 10. Express charges on merchandise purchased, $226 (Merchandise Inventory). | |
| June 14. Office supplies, $99. | |
| June 15. Office supplies, $113. | |
| June 18. Postage stamps, $118 (Office Supplies). | |
| June 20. Repair to fax, $282 (Miscellaneous Administrative Expense). | |
| June 21. Repair to office door lock, $99 (Miscellaneous Administrative Expense). | |
| June 22. Postage due on special delivery letter, $76 (Miscellaneous Administrative Expense). | |
| June 28. Express charges on merchandise purchased, $113 (Merchandise Inventory). | |
| 30. | The cash sales for the day, according to the cash register records, totaled $21,670. |
| The actual cash received from cash sales was $21,646. | |
| 30. | Increased the petty cash fund by $353. |
Required:
Journalize the transactions. If an amount box does not require an entry, leave it blank.
| June 1 | CashCash Short and OverMiscellaneous Administrative ExpensePetty CashSales | - Select - | - Select - |
| CashCash Short and OverMiscellaneous Administrative ExpensePetty CashSales | - Select - | - Select - | |
| June 12 | CashCash Short and OverMiscellaneous Administrative ExpensePetty CashSales | - Select - | - Select - |
| Accounts ReceivableCashCash Short and OverMiscellaneous Administrative ExpensePetty Cash | - Select - | - Select - | |
| Accounts ReceivableCashMiscellaneous Administrative ExpensePetty CashSales | - Select - | - Select - | |
| June 30-Replenish | Accounts PayableAccounts ReceivableCashPetty CashStore Supplies | - Select - | - Select - |
| Accounts PayableCashMerchandise InventoryPetty CashSales | - Select - | - Select - | |
| Accounts ReceivableCashOffice SuppliesPetty CashSales | - Select - | - Select - | |
| Accounts PayableCashMiscellaneous Administrative ExpensePetty CashSales | - Select - | - Select - | |
| Accounts ReceivableCashCash Short and OverPetty CashSales | - Select - | - Select - | |
| CashCash Short and OverPetty CashSalesStore Supplies | - Select - | - Select - | |
| June 30-Sale | Accounts ReceivableCashMiscellaneous Administrative ExpensePetty CashSales | - Select - | - Select - |
| Accounts ReceivableCash Short and OverMiscellaneous Administrative ExpensePetty CashSales | - Select - | - Select - | |
| CashCash Short and OverMiscellaneous Administrative ExpensePetty CashSales | - Select - | - Select - | |
| June 30-Petty cash | CashCash Short and OverMiscellaneous Administrative ExpensePetty CashSales | - Select - | - Select - |
| CashCash Short and OverMiscellaneous Administrative ExpensePetty CashSales | - Select - | - Select - |
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Contemporary Auditing Real Issues And Cases
Authors: Michael C. Knapp, Loreen Knapp
5th Edition
032418834X, 978-0324188349
