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.

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.

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.

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.

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.

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.

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

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

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

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

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.

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