Just fill in the attached journal entry and petty cash by analyzing the given transaction information
Petty Cash
El Greco Art Gallery had the following petty cash transactions in February of the current y
April
3
Wrote a $350 check, cashed it, and gave the proceeds and the petty
cashbox to Chloe Addison, the petty cashier.
7
Purchased bond paper for the copier for $15.75 that is immediately used.
11
Paid $40.50 COD shipping
charges
on postage
merchandise
Paid $7.15
to express mail a contract to a client.
13
15
Reimbursed Adina Sharon, the manager, $73 for business mileage on her
car.
21
Purchased stationery for $68.77 that is immediately used.
24
Paid a courier $21 to deliver merchandise sold to a customer, terms FOB
destination.
27
Paid $11.60 COD shipping charges on merchandise purchased for resale,
terms FOB shipping point.
29
Paid $56 for postage expenses.
29
The fund had $23.87 remaining in the petty cash box. Sorted the petty
cash receipts by accounts affected and exchanged them for a check to
reimburse the fund for expenditures.
30
The petty cash fund amount is increased by $90 to a total of $440.
Required:
1. Prepare the journal entry to establish the petty cash fund.
Date
Accounts
petty Cash
Cash
Debit
Credit
350
350
2. Prepare a petty cash payments report for April with these categories:
delivery expense, mileage expense, postage expense, merchandise
inventory (for transportation-in), and office supplies expense. Sort the
payments into the appropriate categories and total the expenditures in
each category.
Petty Cash Expense Summary
Date
Category
Charge
Date
Delivery Expense
Charge
24-Apr
Total
Total
Mileage
Postage Expense
Mdse Inventory Transp in
Office Supplies Expense
Total Reimbursement
–
3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase
the fund amount.
No
1
2
Date
General Journal
Debit
Credit
. On December 31, Surat’s Warehouse received a bank statement
containing a balance of $19,500. The balance in the firm’s checkbook and
Cash account on the same date was $20,580. The difference between the
two balances is caused by the items listed below.
a. A $5,750 deposit made on December 30 does not appear on the bank statement.
b. Check 1312 for $970 issued on November 29 and Check 1375 for $3,300 issued on
December 30 have not yet been paid by the bank.
c. A credit memorandum shows that the bank has collected a $2,200 note receivable and
interest of $220 for the firm.
d. A service charge of $50 appears on the bank statement.
e. A debit memorandum shows an NSF check for $1,050. (The check was issued by R.
Donnelley, a credit customer.)
f. The firm’s records indicate that Check 1316 of December 1 was issued for $1,800 to
pay the month’s rent. However, the canceled check and the listing on the bank statement
show that the actual amount of the check was $1,600.
g. The bank made an error by deducting a check for $1,120 issued by another business
from the balance of the account of Designer’s Warehouse.
Instructions:
1. Prepare a bank reconciliation statement for the firm as of December 31, 2016.
2. Record entries for any items on the bank reconciliation statement that must
be journalized. Date the entries December 31, 2016.
Surrat Warehouse Bank Reconciliation
Balance on Bank Statement
Additions
12/31/2016
subtotal
Deductions for outstanding checks
Total outstanding Checks
Adjusted Bank Balance
0
Surants Books
Balance in Books
Additions
SubTotal
Deductions
SubTotal
Adjusted Book Balance
Adjusting Entries
Date
Accounts
Debits
Credits

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