Willard Company established a $360 petty cash fund on September 9, 2020 On September 30, the fund had $143 50 in cash along with receipts for these expenditures transportation-in. $29 20office supplies, $102.20: and repairs expense, $800. Willard uses the perpetual method to account for merchandise inventory. The petty cashier could not account for the $500 shortage in the fund a. Prepare the September 9 entry to establish the fund. View transaction View journal entry worksheet Cri NI Bep 09, 2020 Puty cash Debat 300 300 Par summary of the petty cash payments and record the entry feptember 2010 nove the fundsodreduce to 20 Round your answers to 2 decimal places WILLARD COMMY Pet Eshayanapart Sept 2012 28 b. Prepare a summary of the petty cash payments and record the entry on September 30 to reimburse the fund and reduce it to $210. (Round your answers to 2 decimal places.) WILLARD COMPANY Petty Cash Payments Report September 5-30, 2020 $ Receipts Merchandise inventory Office supplies expense Repairs expense 20.20 102 20 80.10 $ 211.50 $ Total receipts Fund total Less: Cash remaining Equals: Cash required to replenish petty cash Cash short 380.00 143.50 216.50 5.00 5 View transaction list Journal entry worksheet Record the entry to reimburse the fund. Not Enterdits before credits Credit Dute Sep 30, 2020 General Journal Merchandise inventory Office supplies expense Repairs expense Cash over and short Debit 20 20 102 20 30.10 5.00 11 Nex The bank reconciliation prepared by Gemma Tours on March 31, 2020. appeared as follows: CEP TOURS Bank Reconciliation March 11, 2020 $14,700 Book balance 132,40 Bank statement balance Add: Deposit of March 31 in transit Deducti Outstanding cheques 879 20, $1,217 1. Adjusted bank balance 117 382,49 Adjusted hook balance $12,49 The Cash account in the General Ledger appeared as follows on April 30. Date sett, No. 11 Explanation Credit 2020 Balance March 11 Balance 12,420.00 April CR11 11.02.20 6,291.00 C054 22,11.00 A list of deposits made and cheques written during April, taken from the Cash Receipts Journal and Cash Disbursements Journal, is shown below Desde $16.096.00 13 a. 13,552.0 5.00 1. 2. Total Art Cath Heripts 11. w 3 1. . BAS The following bank statement is available for Aprit (Note: The bank deposits interest into the bank account at the end of every month) Bank Statement Top Ten 2,seg 14,70 5,292 April 1, 2020 Bank of Montreal alance 33,097 42,001 . 474 19,421 1.00 6,536 2,825 8,513 1,90 Deposits/Credits 04/03 20,96 Bale 14,096 4/B 17 13,552 04/23 84/27 945 1,80 04/30 2,482 INT N/E 04/02 22 04/07 04/13 16 04/18 95 04/23 299 04/27 297 04/38 04/30 PHT 04/30 11 M/ SC / NSNot sufficient Funds 04/30 154 10.306 8,403 3,426 35 11.45 33 52 5. Service Charg 2,320 18,969 18,936 1884 INT. Interest PHP - Principal Payment In reviewing cheques returned by the bank, the bookkeeper discovered that cheque 193. for delivery expense, was recorded in the Cash Disbursements Journal incorrectly as $2.590. The NSF cheque was that of customer Laura Clark, deposited in April Required: e. Prepare a bank reconciliation at April 30 GEMMA TOURS fari Feenetisfieri April 30, 2000 Bank Statement Company's Blocks Add Book balance Add 0 Dedat Det Ong che Add Adjusted book balance Adjusted bank balance b. Prepare the necessary journal entries to bring the General Ledger Cash account into agreement with the adjusted balance on the bank reconciliation View transaction list Journal entry worksheet
