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    Tugas PA 2

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    Fadhilah Hazimah
    The document describes petty cash transactions for Ursula Company over two months. It lists the dates funds were established and replenished through checks, along with receipts for expenses. It also provides instructions to journalize and post the transactions, and asks what internal controls exist for petty cash funds. A second case discusses bank reconciliation for Sabre Company, listing deposits, outstanding checks, fees, and other reconciling items to calculate the adjusted cash balance.

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    Tugas PA 2

    Uploaded by

    Fadhilah Hazimah
    403 views2 pages
    The document describes petty cash transactions for Ursula Company over two months. It lists the dates funds were established and replenished through checks, along with receipts for expenses. It also provides instructions to journalize and post the transactions, and asks what internal controls exist for petty cash funds. A second case discusses bank reconciliation for Sabre Company, listing deposits, outstanding checks, fees, and other reconciling items to calculate the adjusted cash balance.

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    The document describes petty cash transactions for Ursula Company over two months. It lists the dates funds were established and replenished through checks, along with receipts for expenses. It also provides instructions to journalize and post the transactions, and asks what internal controls exist for petty cash funds. A second case discusses bank reconciliation for Sabre Company, listing deposits, outstanding checks, fees, and other reconciling items to calculate the adjusted cash balance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    403 views2 pages

    Tugas PA 2

    Uploaded by

    Fadhilah Hazimah
    The document describes petty cash transactions for Ursula Company over two months. It lists the dates funds were established and replenished through checks, along with receipts for expenses. It also provides instructions to journalize and post the transactions, and asks what internal controls exist for petty cash funds. A second case discusses bank reconciliation for Sabre Company, listing deposits, outstanding checks, fees, and other reconciling items to calculate the adjusted cash balance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    TUGAS

    1. Ursula Company maintains a petty cash fund for small expenditures. The following
    transactions occurred over a 2-month period.

    July 1 Established petty cash fund by writing a check on Scranton Bank for $200.
    15 Replenished the petty cash fund by writing a check for $196.00. On this date the
    fund consisted of $4.00 in cash and the following petty cash receipts: freight-out
    $94.00, postage expense $42.40, entertainment expense $46.60, and miscellaneous
    expense $11.20.
    31 Replenished the petty cash fund by writing a check for $192.00. At this date, the
    fund consisted of $8.00 in cash and the following petty cash receipts: freight-out
    $82.10, charitable contributions expense $45.00, postage expense $25.50, and
    miscellaneous expense $39.40.
    Aug 15 Replenished the petty cash fund by writing a check for $187.00. On this date, the
    fund consisted of $13.00 in cash and the following petty cash receipts: freight-out
    $75.60, entertainment expense $43.00, postage expense $33.00, and miscellaneous
    expense $37.00.
    16 Increased the amount of the petty cash fund to $300 by writing a check for $100.
    31 Replenished petty cash fund by writing a check for $284.00. On this date, the fund
    consisted of $16 in cash and the following petty cash receipts: postage expense
    $140.00, travel expense $95.60, and freight-out $47.10

    Instructions
    (a) Journalize the petty cash transactions.
    (b) Post to the Petty Cash account.
    (c) What internal control features exist in a petty cash fund?
    2. On May 31, 2012, Sabre Company had a cash balance per books of $6,781.50. The bank
    statement from New York State Bank on that date showed a balance of $6,404.60. A
    comparison of the statement with the cash account revealed the following facts.
    1. The statement included a debit memo of $40 for the printing of additional company
    checks.
    2. Cash sales of $836.15 on May 12 were deposited in the bank. The cash receipts journal
    entry and the deposit slip were incorrectly made for $886.15. The bank credited Sabre
    Company for the correct amount.
    3. Outstanding checks at May 31 totaled $576.25. Deposits in transit were $1,916.15.
    4. On May 18, the company issued check No. 1181 for $685 to Carol Stills on account. The
    check, which cleared the bank in May, was incorrectly journalized and posted by Sabre
    Company for $658.
    5. A $2,500 note receivable was collected by the bank for Sabre Company on May 31 plus
    $80 interest. The bank charged a collection fee of $20. No interest has been accrued on
    the note.
    6. Included with the cancelled checks was a check issued by Rapier Company to Tom Lujak
    for $800 that was incorrectly charged to Sabre Company by the bank.
    7. On May 31, the bank statement showed an NSF charge of $680 for a check issued by Jo
    Bennett, a customer, to Sabre Company on account.

    Instructions
    (a) Prepare the bank reconciliation at May 31, 2012.
    (b) Prepare the necessary adjusting entries for Sabre Company at May 31, 2012.

    *notes : untuk nama akun, gunakan istilah asing. (sumber : Accounting Principles Chapter 8)

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