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EA 1.

LO 8.5Record the following transactions:

  1. Started a petty cash fund in the amount of $300.
  2. Replenished petty cash fund using the following expenses: Auto $18, Office Expenses $35, Postage Expense $56, Miscellaneous Expenses $67. Cash on hand is $124.
  3. Increased petty cash by $50.
EA 2.

LO 8.5Record the following transactions:

  1. Started a petty cash fund in the amount of $200.
  2. Replenished petty cash fund using the following expenses: Auto $15, Office Expenses $20, Postage Expense $81, Miscellaneous Expenses $66. Cash on hand is $10.
  3. Increased petty cash by $75.
EA 3.

LO 8.5Record the following transactions:

  1. Started a petty cash fund in the amount of $300.
  2. Replenished petty cash fund using the following expenses: Auto $69, Office Expenses $77, Postage Expense $56, Miscellaneous Expenses $98. Cash on hand is $6.
  3. Increased petty cash by $60.
EA 4.

LO 8.5Record the following transactions:

  1. Started a petty cash fund in the amount of $500.
  2. Replenished petty cash fund using the following expenses: Auto $24, Office Expenses $43, Postage Expense $19, Miscellaneous Expenses $25. Cash on hand is $389.
  3. The company has decided to reduce the petty cash fund to $300.
EA 5.

LO 8.6The bank reconciliation shows the following adjustments:

  • Deposits in transit: $1,234
  • Outstanding checks: $558
  • Bank service charges: $50
  • NSF checks: $250

Prepare the correcting journal entry.

EA 6.

LO 8.6The bank reconciliation shows the following adjustments:

  • Deposits in transit: $852
  • Notes receivable collected by bank: $1,000; interest: $20
  • Outstanding checks: $569
  • Error by bank: $300
  • Bank charges: $30

Prepare the correcting journal entry.

EA 7.

LO 8.6Using the following information, prepare a bank reconciliation.

  • Bank balance: $3,678
  • Book balance: $2,547
  • Deposits in transit: $321
  • Outstanding checks: $108 and $334
  • Bank charges: $25
  • Notes receivable: $1,000; interest: $35
EA 8.

LO 8.6Prepare the journal entry to reconcile the bank statement in Exercise 8.7.

EA 9.

LO 8.6Using the following information, prepare a bank reconciliation.

  • Bank balance: $4,587
  • Book balance: $5,577
  • Deposits in transit: $1,546
  • Outstanding checks: $956
  • Interest income: $56
  • NSF check: $456
EA 10.

LO 8.6Prepare the journal entry to reconcile the bank statement in Exercise 8.9.

EA 11.

LO 8.6Using the following information, prepare a bank reconciliation.

  • Bank balance: $6,988
  • Book balance: $6,626
  • Deposits in transit: $1,600
  • Outstanding checks: $599 and $1,423
  • Bank charges: $75
  • Bank incorrectly charged the account $75. The bank will correct the error next month.
  • Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense.
EA 12.

LO 8.6Prepare the journal entry to reconcile the bank statement in Exercise 8.11.

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