3 Assumption KLM Company has a petty cash funds for small expenses i.pdf

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3 Assumption: KLM Company has a petty cash funds for small expenses in charge of a custodian. The transactions during the month are: August 01 The petty cash funds were established by writing a check for $200 that will he handied by the custodian. August 15 The petty cash funds were replenished by writing a check for $175. August 15 The petty cash funds consisted of the following: $$$$$25.0074.4036.0033.7027.50CashFreight- OutEntertainmentPostageMiscellaneous August 16 The petty cash funds were increased by writing a check for $200, for a total of $400 in funds. August 31 The petty cash funds were replenished by writing a check for $283. The petty cash funds consisted of the following: $117.00 Cash $46.40 Freight-Out $90.60 Entertainment S 145.00 Postage Actionst to take: 1. Prepare the Joumal Entries for the petty cash funds. 2. Prepare the Petty Cash Ledger and post the transactions. Prepare las entradas contables y el Libro Mayor de efectivo. Valor 10 puntos freight = transporte postage = sellos, franqueo replenished = reabastecido, repuesto, recargado.

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Rick Hall owns a card shop. Hall's Cards. The following cash information is avallable for the month of August Year 1 : As of August 31, the bank statement shows a balance of $14,140. The August 31 unadjusted balance in the Cash account of Hall's Cards is $9,564. A review of the bank statement revealed the following information: 1. A deposit of $1,010 on August 31, Year 1, does not appear on the August bank statement. 2. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $1,720 but was recorded on the books as $2, 620. 3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4.765 were found to be outstanding. 4. A debit memo for $79 was included in the bank statement for the purchase of a new supply of checks. Required: Prepare a bank reconcillation at the end of August showing the true cash balance. Note: Negative amounts should be indicated with minus sign.Austin Company established a petty cash fund by issuing a check for $300 and appointing Steve Mack as petty cash custodian. Mack had vouchers for the following petty cash payments during the month; There was $21 of currency in the petty cash box at the time it was replenished. The four distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, (3) recognition of expenses (Note. all expenses are recorded in total as miscellaneous expense). and (4) replenishment of the fund. Assume the Company uses the traditional approach to petty cash expense recognition and replenishment. Required: a. Show each of the four events in a horizontal statements model. c. Identify the events depicted in Requirement a as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Complete this question by entering your answers in the tabs below.Complete this question by entering your answers in the tabs below. Show each of the four events in a horizontal statements model. Note: Enter amy decreases to account balances whth a minus sign. For changes on the 5 tatement of Cash Flows, indicate whether the item is an operating activity (OA), investing (IA), finanoing activity (FA), or leave the cell blank if there is no effect.Complete this question by entering your answers in the tabs below. Identify the events depicted in Requirement a as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Note: Select "NE" if there is no effect..

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Exercise 7-8 Kickapoo Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100 During March, the following petty cash receipts were found in the petty cash box. Date Receipt No. For Amount $39 13 3/5 Stamp Inventory Freight-out Miscellaneous Expense Travel Expense Miscellaneous Expense 2 4 14 5 8 The fund was replenished on March 15 when the fund contained $5 in cash. On March 20, the amount in the fund wa increased to $182. Journalize the entries in March that pertain to the operation of the petty cash fund. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Solution Date Account Titles and Explaination Debit Credit Mar-01 Petty $ 100 Cash $ 100 Mar-15 Postage expense $ 39 Freight out $ 13 Miscellaneous ($11 + $8) $ 19 Travel expense $ 22 Cash over $ 2 Cash ($100 - $5) $ 95 Mar-20 Petty ($182 - $100) $ 82 Cash $ 82.

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Exercise 8-6 Petty cash fund accounting L.O. P2 [The following information applies to the questions displayed below.] NetPerks Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $28 in cash along with receipts for the following expenditures: postage, $64; transportation-in, $19; delivery expenses, $36; and miscellaneous expenses, $53. NetPerks uses the perpetual system in accounting for merchandise inventory. references 1. value: 2.00 points Exercise 8-6 Part 1 (1) Prepare journal entry to establish the fund on January 1. (Omit the "$" sign in your response.) Date General Journal Debit Credit Jan. 1 [removed] [removed] check my work eBook Link View Hint #1 references 2. value: 2.00 points Exercise 8-6 Part 2 (2) Prepare journal entry to reimburse it on January 8. (Omit the "$" sign in your response.) Date General Journal Debit Credit Jan. 8 [removed] [removed] [removed] [removed] [removed] check my work eBook Link View Hint #1 references 3. value: 2.00 points Exercise 8-6 Part 3 (3) Prepare journal entries to both reimburse the fund and increase it to $500 on January 8, assuming no entry in part 2. (Omit the "$" sign in your response.) Date General Journal Debit Credit Jan. 8 [removed] [removed] [removed] [removed] [removed] [removed] [removed] 4. value: 6.00 points Exercise 8-7 Bank reconciliation and adjusting entries L.O. P3 A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or deducted from the book or bank balance, or whether it should not appear on the reconciliation. (Select the answers in the appropriate cells and Leave no cells blank be certain to select "NA" in fields which are not applicable.) Bank Balance Book Balance Shown/Not Shown 1. Bank service charge for September. 2. Checks written and mailed to payees on October 2. 3. Checks written by another depositor but charged against this company’s account. 4. Principal and interest on a note receivable to this company is collected by the bank but not yet recorded by the company. 5. Special bank charge for collection of note in part 4 on this company's behalf. 6. Check written against the company's account and cleared by the bank; erroneously not recorded by the company's recordkeeper. 7. Interest earned on the September cash balance in the bank. 8. Night deposit made on September 30 after the bank closed. 9. Checks outstanding on August 31 that cleared the bank in September. 10. NSF check from customer is returned on September 25 but not yet recorded by this company. 11. Checks written by the company and mailed to payees on September 30. 12. Deposit made on September 5 and processed by the bank on September 6. 5. value: 6.00 points Problem 8-2A Establish, reimburse, and adjust petty cash L.O. P2 Shawnee Co. .

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1.Kingbird, Inc. took a physical inventory on December 31 and determined that goods costing $230,000 were on hand. Not included in the physical count were $31,000 of goods purchased from Blue Spruce Corp., FOB, shipping point, and $20,500 of goods sold to Blossom Company for $30,000, FOB destination. Both the Blue Spruce purchase and the Blossom sale were in transit at year-end. What amount should Kingbird report as its December 31 inventory? Ending Inventory 2. In its first month of operations, Sheridan Company made three purchases of merchandise in the following sequence: (1) 240 units at $3, (2) 340 units at $5, and (3) 440 units at $6. Assuming there are 140 units on hand at the end of the period, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Sheridan Company uses a periodic inventory system. FIFO LIFO The Ending Inventory $Enter a dollar amount $Enter a dollar amount 3. The Blue Spruce Company has just completed a physical inventory count at year end, December 31, 2022. Only the items on the shelves, in storage, and in the receiving area were counted and costed on the FIFO basis. The inventory amounted to $ 77,300. During the audit, the independent CPA discovered the following additional information: (a) There were goods in transit on December 31, 2022, from a supplier with terms FOB destination, costing $ 9,900. Because the goods had not arrived, they were excluded from the physical inventory count. (b) On December 27, 2022, a regular customer purchased goods for cash amounting to $ 1,150 and had them shipped to a bonded warehouse for temporary storage on December 28, 2022. The goods were shipped via common carrier with terms FOB shipping point. The customer picked the goods up from the warehouse on January 4, 2023. Blue Spruce Company had paid $ 575 for the goods and, because they were in storage, Blue Spruce included them in the physical inventory count. (c) Blue Spruce Company, on the date of the inventory, received notice from a supplier that goods ordered earlier, at a cost of $ 3,300, had been delivered to the transportation company on December 28, 2022; the terms were FOB shipping point. Because the shipment had not arrived on December 31, 2022, it was excluded from the physical inventory. (d) On December 31, 2022, there were goods in transit to customers, with terms FOB shipping point, amounting to $ 850 (expected delivery on January 8, 2023). Because the goods had been shipped, they were excluded from the physical inventory count. (e) On December 31, 2022, Blue Spruce Company shipped $ 2,900 worth of goods to a customer, FOB destination. The goods arrived on January 5, 2023. Because the goods were not on hand, they were not included in the physical inventory count. (f) Blue Spruce Company, as the consignee, had goods on consignment that cost $ 2,900. Because these goods were on hand as of December 31, 2022, they were included in the physical inventory count. ...

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1) At July 31, Ramirez Company has the following bank information: cash balance per bank $7,882, outstanding checks $701, deposits in transit $1,916, and a bank service charge $23. Determine the adjusted cash balance per bank at July 31. The adjusted cash balance per bank $ 2) Setterstrom Company established a petty cash fund on May 1, cashing a check for $125.00. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $2.75. Receipts: delivery expense $28.25; postage expense $37.25; and miscellaneous expense $54.05. July 1: Cash in fund $4.75. Receipts: delivery expense $23.75; entertainment expense $49.50; and miscellaneous expense $47.00. On July 10, Setterstrom increased the fund from $125.00 to $155.00. Prepare journal entries for Setterstrom Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit May 1 June 1 July 1 July 10 3) At the end of 2014, Carpenter Co. has accounts receivable of $729,030 and an allowance for doubtful accounts of $54,500. On January 24, 2015, the company learns that its receivable from Megan Gray is not collectible, and management authorizes a write-off of $7,140. On March 4, 2015, Carpenter Co. receives payment of $7,140 in full from Megan Gray. Prepare the journal entries to record this transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To reverse write-off) (To record collection from Gray) 4) Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation.) Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest (a) April 1 60 days $589,200 5 % $ (b) July 2 30 days 64,080 % $534 (c) March 7 6 months 134,400 9 % $ 5) Colaw Stores accepts both its own and national credit cards. During the year, the following selected summary transactions occurred. Jan. 15 Made Colaw credit card sales totaling $25,600. (There were no balances prior to January 15.) 20 Made Visa credit card sales (service charge fee 4%) totaling $6,100. Feb. 10 Collected $12,700 on Colaw credit card sales. 15 Added finance charges of 3% to Colaw credit card account balances. (a) Journalize the transactions for Colaw Stores. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 15 Jan. 20 Feb. 10 Feb. 15 Elburn Supply Co. has the following transactions related to notes receivable during the last 2 months of 2014. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $10,000 cash to Manny Lopez on a 12-month, 12% note. Dec. 11 Sold goods to R ...

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PART II: APPLICATION Directions: Please answer each of the following questions. Show your work as necessary. 1. The following bank reconciliation contains several errors. Bank Reconciliation July 31, 20-- Bank Statement Balance $ 9,057.00 Add: Note collected by bank 1,200.00 $10,257.00 Deduct: Outstanding checks $596.00 Error in recording Ck. No. 462 (recorded check for $546 rather than $456) 90.00 686.00 Adjusted Bank Statement Balance $ 9,571.00 Ledger Balance of Cash $ 8,366.00 Add: NSF check from customer $ 60.00 Deposit in transit 941.00 1,001.00 $ 9,367.00 Deduct: Bank service and collection charges 14.00 Adjusted Ledger Balance of Cash $ 9,353.00 Instructions: Prepare a corrected bank reconciliation. Bank Reconciliation July 31, 20-- Bank Statement Balance Add: Deposit in transit Deduct: Outstanding checks Adjusted Bank Statement Balance Ledger Balance of Cash Add: Note collected from customer Deduct: Bank service and collection charges Error in recording Ck. No. 462 (recorded check for $546 rather than $456) NSF check from customer Adjusted Ledger Balance of Cash 2. Capable Cleaners deposits all receipts in the bank each evening and makes all payments by check. On March 31 its ledger balance of cash is $983.40. The bank statement balance of cash as of March 31 is $1,176.53. You are given the following information with which to reconcile the bank statement: a. A bank debit memo for service charges, $5. b. A deposit of $198.50 was placed in the night depository on March 31 and did not appear on the bank statement. c. The reconciliation for February, the previous month, showed two checks outstanding on February 28: Ck. No. 332 for $18 and Ck. No. 333 for $138.60. Ck. No. 333 was returned with the March statement; however, Ck. No. 332 was not returned. d. A bank debit memo for a $4.17 NSF check written by L. Long. e. Checks no. 352 for $141.15, no. 355 for $17.50, and no. 356 for $215.15 were written during March but were not returned by the bank. f. The canceled checks were compared with the entries in the check register, and it was observed that Ck. No. 348 for $56 was written correctly, payable to Glyn Company, a creditor, but was recorded in the checkbook as $65. Instructions: 1. Prepare a bank reconciliation as of March 31, assuming that the debit and credit memos have not been recorded. 2. Record the necessary entries in general journal form using page 41. 1.) Capable Cleaners Bank Reconciliation March 31, 20— Bank Statement Balance Add: Deposit in transit Deduct: Outstanding checks No. 332 No. 352 No. 355 No. 356 Adjusted Bank Statement Balance Ledger Balance of Cash Add: Error in recording Ck. No. 348 payable to Glyn Company (recorded check for $9 too much) Deduct: Bank servic.

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No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved transactions with Cadieux Company's customers. If the company also has $280 of petty cash on hand (recorded in a separate account), what total amount of cash should the company report on the September 30 balance sheet? Required information [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: There were no deposits in transit or outstanding checks at November 30. 5. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the - If the company also has $200 of petty cash on hand, which is recorded in a different account called Petty what total amount of Cash and Cash Equivalents should be reported on the December 31 balance sheet?.

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Photos from our Spring Gala 2024. Thank you for making our 2024 Spring Gala unforgettable! Whether you attended or supported us with a donation, we extend our heartfelt thanks for celebrating School-Community Partnerships alongside ExpandED Schools. Special appreciation to our honorees, Rachel Skaistis and Cravath, Swaine, & Moore LLP, for their unwavering support in advancing educational equity. Your contributions have profoundly impacted countless young New Yorkers, and we’re proud to have you as part of our community. Our gratitude also extends to our Board of Directors, sponsors, city partners, community-based organizations, and the inspiring young people who joined us. Your support fuels our mission, and we’re endlessly thankful for your dedication. While we celebrate our gala’s success, our work continues. As you view the evening’s highlights, consider how you can further empower young New Yorkers and educators with your donation, no matter the size. Donate today: https://www.expandedschools.org/support-our-work/donate/

Spring gala 2024 photo slideshow - Celebrating School-Community Partnerships

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TỔNG HỢP HƠN 100 ĐỀ THI THỬ TỐT NGHIỆP THPT TOÁN 2024 - TỪ CÁC TRƯỜNG, TRƯỜNG...

Spring gala 2024 photo slideshow - Celebrating School-Community Partnerships

會考英文會考英文會考英文會考英文會考英文會考英文會考英文會考英文會考英文會考英文會考英文

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3 Assumption KLM Company has a petty cash funds for small expenses i.pdf

1. 3 Assumption: KLM Company has a petty cash funds for small expenses in charge of a custodian. The transactions during the month are: August 01 The petty cash funds were established by writing a check for $200 that will he handied by the custodian. August 15 The petty cash funds were replenished by writing a check for $175. August 15 The petty cash funds consisted of the following: $$$$$25.0074.4036.0033.7027.50CashFreight- OutEntertainmentPostageMiscellaneous August 16 The petty cash funds were increased by writing a check for $200, for a total of $400 in funds. August 31 The petty cash funds were replenished by writing a check for $283. The petty cash funds consisted of the following: $117.00 Cash $46.40 Freight-Out $90.60 Entertainment S 145.00 Postage Actionst to take: 1. Prepare the Joumal Entries for the petty cash funds. 2. Prepare the Petty Cash Ledger and post the transactions. Prepare las entradas contables y el Libro Mayor de efectivo. Valor 10 puntos freight = transporte postage = sellos, franqueo replenished = reabastecido, repuesto, recargado

3 Assumption KLM Company has a petty cash funds for small expenses i.pdf

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