Module 4.2 - lcome, Jesus nlmanza Jr Petty Cash Fund Mon...

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Unformatted text preview: lcome, Jesus nlmanza Jr Petty Cash Fund Mon Jan 242011 © / Exercise 1 | lulessina Corporation incurred the following expenses during the month ofSeptember: wages $1 6,000, taxes $1,500 and utilities $250. All expenses were paid by the end ofthe month. Prepare the required journal entryto capture payment ofthe September expenses. General Journal Account Title Wages Expense Delete Tax Expense Delete Utilities Expense ‘5 Add Credit a Class E Walk nu throuy'l a similar pumith / Check Answer B w Petty CESh Fund lcome, Jesus nimanza Jr Mon Jan 242011 I ,7 Exercise 1 I Hall Corporation recognized a need for better control over small cash disbursements and thus established a petty cash system. On April 2, 2008 a checkwas written to the petty cash custodian to establish a fund in the amount of$200. Prepare the required journal entry on April 2, 2008 to establishthe petty cash fund. General Journal Account Title Debit Credit Petty Cash H ZDIJ '- m Close a Walk m throng-I a similar puith / Check Answer B Petty Cash Fund lcnme, Jesus lllmanza Jr Mon Jan 242011 I la ; Exercise 1 I Tamara Corporation maintains a petty casnfund. On April 25, thefund contained $15 in cash. receipts for postage of$151 and receipts for miscellaneous expenses of$33. Prepare the April 25 journal entnrto replenish the petty cash fund. General Journal Account Title Postage Expense ‘ Miscellaneous Expense ‘ - Add Credit a Close E Walk nu throuy'l a similar ptoblen/ / Check Answer @ w Petty Cash Fund lcnme, Jesus nimanza Jr Mon Jan 242011 Exercise 2 Fern Industries maintains a petty cash fund. On September ELthe fund contained $?1 in cash, receipts for meals ef$1 DB, receipts fertravel ef$88 and receipts feroffice supplies 0f$133. Prepare the September 9 journal entryte replenish the petty cash fund. General Journal Account Title Meals Expense a Travel Expense a Office Supplies Expense - a Close El Walk Ml throud'l a similar arcith / Check Answer B ...
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