Log In | LoudCloud Syste ntrmediate accounting C7-23 (Petty Cash) The CExercise

Question

Log In | LoudCloud Syste ntrmediate accounting C7-23 (Petty Cash) The CExercise 7-23 Your Ans ? ià Secure l https://viewer.gcu.edu/PYYVE 148 % 418 of 1614 Prepare the journal entries to record transactions related to petty cash for the month of April. 10 E7-23 (Petty Cash) The petty cash fund of Fonzarelli's Auto Repair Service, a sole proprietorship, contains the following. $ 15.20 1. Coins and currency 2. Postage stamps 3. An l.o.U. from Richie Cunningham, an 2.90 40.00 34.00 employee, for cash advance 4. Check payable to Fonzarelli's Auto Repair from Pottsie Weber, an employee, marked NSF 5. Vouchers for the following: Stamps Two Rose Bowl tickets for Nick Fonzarelli Printer cartridge $20.00 170.00 14.35 204.35 $296.45 The general ledger account Petty Cash has a balance of $300. Copyright 2013 John Wiley & Sons, Inc. 394 Chapter 7 Cash O Type here to search 10:22 PM ^????4/16/2018

Explanation / Answer

Answer

Journal entries:

Particulars Dr Cr Office supplies $2.90 Postage expenses(20-2.90) $17.10 office expenses (printer) $14.35 Drawings $170 Accounts receivable (Cash advance to a employee) $40 Accounts receivable (NSF) $34 Cash short And over (Balance figure) $6.45 Cash (300-15.20) 284.80

Related Questions

Navigate

• Browse (All)
• Browse L
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.