144. On April 2nd, Granger Sales decides to establish a $125.00 Petty Cash Account to relieve the burden on Accounting.(a) Journalize this event.(b) On April 10th, the petty cash fund has receipts for mail and postage of $43.50, contributions and donations of $29.50, meals and entertainment of $38.25 and $13.55 in cash. Journalize the replenishment of the fund.(c) On April 11th, Granger Sales decides to increase petty cash to $200.00. Journalize this event.
145.
(a)
Where are cash equivalents disclosed in the financial statements?
(b)
List three examples of cash equivalents.
146. Using the following information, prepare a bank reconciliation for Cole Co. for May 31, 2009:
The bank statement balance is $2,936.
The cash account balance is $3,194.
(c)
Outstanding checks amounted to $465.
(d)
Deposits in transit are $655.
(e)
The bank service charge is $50.
(f)
A check for $97 for supplies was recorded as $79 in the ledger.
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