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EB 1.

LO 8.5Record the following transactions:

  1. Started a petty cash fund in the amount of $575
  2. Replenished petty cash fund using the following expenses: Auto $18, Office Expenses $35, Postage Expense $56, Miscellaneous Expenses $67. Cash on hand is $399.
  3. Increased petty cash by $25.
EB 2.

LO 8.5Record the following transactions:

  1. Started a petty cash fund in the amount of $260.
  2. Replenished petty cash fund using the following expenses: Auto $15, Office Expenses $20, Postage Expense $81, Miscellaneous Expenses $104. Cash on hand is $37.
  3. Increased petty cash by $80.
EB 3.

LO 8.5Record the following transactions:

  1. Started a petty cash fund in the amount of $340.
  2. Replenished petty cash fund using the following expenses: Auto $69, Office Expenses $77, Postage Expense $56, Miscellaneous Expenses $98. Cash on hand is $45.
  3. Increased petty cash by $65.
EB 4.

LO 8.5Record the following transactions:

  1. Started a petty cash fund in the amount of $1,000.
  2. Replenished petty cash fund using the following expenses: Auto $61, Office Expenses $23, Postage Expense $57, Miscellaneous Expenses $30.
  3. The company has decided to reduce the petty cash fund to $600.
EB 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.

EB 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 8.

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

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 10.

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

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.
EB 12.

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

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