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1.
LO 8.5Record the following transactions:
- Started a petty cash fund in the amount of $575
- Replenished petty cash fund using the following expenses: Auto $18, Office Expenses $35, Postage Expense $56, Miscellaneous Expenses $67. Cash on hand is $399.
- Increased petty cash by $25.
EB
2.
LO 8.5Record the following transactions:
- Started a petty cash fund in the amount of $260.
- Replenished petty cash fund using the following expenses: Auto $15, Office Expenses $20, Postage Expense $81, Miscellaneous Expenses $104. Cash on hand is $37.
- Increased petty cash by $80.
EB
3.
LO 8.5Record the following transactions:
- Started a petty cash fund in the amount of $340.
- Replenished petty cash fund using the following expenses: Auto $69, Office Expenses $77, Postage Expense $56, Miscellaneous Expenses $98. Cash on hand is $45.
- Increased petty cash by $65.
EB
4.
LO 8.5Record the following transactions:
- Started a petty cash fund in the amount of $1,000.
- Replenished petty cash fund using the following expenses: Auto $61, Office Expenses $23, Postage Expense $57, Miscellaneous Expenses $30.
- The company has decided to reduce the petty cash fund to $600.
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5.
LO 8.6The bank reconciliation shows the following adjustments.
- Deposits in transit: $526
- Outstanding checks: $328
- Bank charges: $55
- NSF checks: $69
Prepare the correcting journal entry.
EB
6.
LO 8.6The bank reconciliation shows the following adjustments.
- Deposits in transit: $1,698
- Notes receivable collected by bank: $2,500; interest: $145
- Outstanding checks: $987
- Error by bank: $436
- Bank charges: $70
Prepare the correcting journal entry.
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7.
LO 8.6Using the following information, prepare a bank reconciliation.
- Bank balance: $4,021
- Book balance: $2,928
- Deposits in transit: $1,111
- Outstanding checks: $679
- Bank charges: $35
- Notes receivable: $1,325; interest: $235
EB
9.
LO 8.6Using the following information, prepare a bank reconciliation.
- Bank balance: $7,651
- Book balance: $10,595
- Deposits in transit: $2,588
- Outstanding checks: $489
- Interest income: $121
- NSF check: $966
EB
11.
LO 8.6Using the following information, prepare a bank reconciliation.
- Bank balance: $12,565.
- Book balance: $13,744.
- Deposits in transit: $2,509.
- Outstanding checks: $1,777.
- Bank charges: $125.
- Bank incorrectly charged the account for $412. The bank will correct the error next month.
- Check number 1879 correctly cleared the bank in the amount of $562 but posted in the accounting records as $652. This check was expensed to Utilities Expense.