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Category > Accounting Posted 20 Aug 2017 My Price 11.00

Cactus Restoration Company

Transactions for petty cash, cash short and over

Cactus  Restoration  Company  completed  the  following   selected   transactions   during May 2016:

Oct.  1.   Established a petty cash fund of $750.

12. The cash sales for the day, according to the cash register records, totaled $12,440 The actual cash received from cash sales was $12,465.

31. Petty cash on hand was $157. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash   receipt:

 

Oct.     3.  Store supplies, $390.

7.   Express charges on merchandise sold, $35 (Delivery Expense).

9.  Office supplies, $16.

13.  Office supplies, $22.

19.  Postage stamps, $12 (Office Supplies).

21.    Repair to office file cabinet lock, $15 (Miscellaneous Administrative Expense).

22.    Postage due on special delivery letter, $27 (Miscellaneous Administra- tive Expense).

24.   Express charges on merchandise sold, $55 (Delivery Expense).

30.    Office supplies, $6.

Oct.  31.  The cash sales for the day, according to the cash register records, totaled   $18,820.

The actual cash received from cash sales was $18,780.

31.  Decreased the petty cash fund by $100.

Instructions

Journalize  the transactions.

Answers

Maurice Tutor
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Status NEW Posted 20 Aug 2017 06:08 PM My Price 11.00

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