Acct. 1 4.01&4.02 Petty Cash/Balance Bank

What is the correct Cash account balance on March 31?

• $2,325.00
• $2,345.00
• $2,360.00
• $2,580.00

On December 23, Wake Incorporated received notice from the bank of a dishonored check from Davie Company in the amount of $125.00. The bank charged a service fee of $25.00. What is the correct journal entry for Wake Incorporated to record the dishonored check?

• Debit Accounts Receivable-Davie Company $125.00, Debit Bank Service Charge $25.00, Credit Cash$150.00
• Debit Accounts Receivable-Davie Company $150.00, Credit Bank Service Charge $25.00, Credit Cash$125.00
• Debit Accounts Receivable-Davie Company $150.00, Credit Cash $150.00
• Debit Cash $150.00, Credit Accounts Receivable-Davie Company $150.00

Assuming that the bank statement balance is correct, what is the correct Cash account balance on October 31?

• $4,350.00
• $4,500.00
• $4,525.00
• $4,550.00

On April 16, Caldwell Company received notice from the bank of a dishonored check from Hickory Hosiery in the amount of $55.00. The bank charged a service fee of $25.00. What is the correct journal entry for Caldwell Company to record the dishonored check?

• Debit Accounts Receivable-Hickory Hosiery $55.00, debit Bank Service Charge $25.00; credit Cash $80.00
• Debit Accounts Receivable-Hickory Hosiery $80.00, Credit Bank Service Charge $25.00, Credit Cash$55.00
• Debit Accounts Receivable-Hickory Hosiery $80.00; credit Cash $80.00
• Debit Cash $80.00; credit Accounts Receivable-Hickory Hosiery $80.00

On February 14, Watauga Enterprises received notice from the bank of a dishonored check from Wilkes Company in the amount of $200.00. The bank charged a service fee of $25.00. What is the correct journal entry for Watauga Enterprises to record the dishonored check?

• Debit Accounts Receivable-Wilkes Company $200.00, debit Bank Service Charge $25.00; credit Cash$225.00
• Debit Accounts Receivable-Wilkes Company $225.00; credit Bank Service Charge $25.00, credit Cash$200.00
• Debit Accounts Receivable-Wilkes Company $225.00; credit Cash $225.00
• Debit Cash $225.00; credit Accounts Receivable-Wilkes Company $225.00

Timothy wants to replenish the $300 petty cash fund. He has receipts for the following total payments:postage (Office Expense), $35; supplies, $25; and repairs, $95. A cash count shows $160 in the petty cash box.What is the correct journal entry to record the transaction?

• Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25 and credit Cash $155
• Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25 and credit Petty Cash $155
• Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25, and credit cash $140, credit CashShort and Over $15
• Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25, debit Cash Short and Over $5,and credit cash $160

Claire wants to establish a $250 petty cash fund for her business. She requested a check for $250. What is the correct journal entry to record the transaction?

• Debit Cash $250 and credit Petty Cash $250
• Debit Miscellaneous Expense $250 and credit Cash $250
• Debit Petty Cash $250 and credit Cash $250
• Debit Petty Cash $250 and credit Miscellaneous Expense $250

Emily wants to replenish the $300 petty cash fund. She has receipts for the following total payments: supplies, $55; and repairs, $35. A cash count shows $195 in the petty cash box. What is the correct journal entry to record the transaction?

• Debit Repair Expense $35, debit Supplies $55 and credit Cash $90
• Debit Repair Expense $35, debit Supplies $55 and credit Petty Cash $90
• Debit Repair Expense $35, debit Supplies $55, and credit Cash $90, credit Cash Short and Over $15
• Debit Repair Expense $35, debit Supplies $55, debit Cash Short and Over $15, and credit Cash $105

Steve wants to replenish the $200 petty cash fund. He has receipts for the following total payments: supplies,$18; and repairs, $32. A cash count shows $145 in the petty cash box. What is the correct journal entry to record the transaction?

• Debit Repair Expense $32, debit Supplies $18 and credit Cash $50
• Debit Repair Expense $32, debit Supplies $18 and credit Petty Cash $50
• Debit Repair Expense $32, debit Supplies $18, and credit Cash $60, credit Cash Short and Over $5
• Debit Repair Expense $32, debit Supplies $18, debit Cash Short and Over $5, and credit Cash $55

Michelle wants to replenish the $300 petty cash fund. She has receipts for the following total payments: postage (Office Expense), $40; supplies, $25; and repairs, $45. A cash count shows $175 in the petty cash box.What is the correct journal entry to record the transaction?

• Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and credit Cash $110
• Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and credit Petty Cash $110
• Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and credit Cash $110, credit CashShort and Over $15
• Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and debit Cash Short and Over$15, and credit Cash $125