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1. Record the transactions in the general journal and auxiliary petty cash record. 2. Post the...

Question:
1. Record the transactions in the general journal and auxiliary petty cash record.
2. Post the transactions to the general ledger accounts.
3. Prepare a trial balance.
4. Compare the Smith Computer Center’s deposits and checks with the bank statements and complete a bank reconciliation as of September 30, 201X.
Reading the Kelloggs Annual Report o to http://investor.kelloggs.com/investor-relations/an Kelloggs 2013 Annual Report. How often do you think Kelloggs reconclsthe tatement? What type of security control may be in place? Support your possbanlk ports to access les its ON THE JOB SMITH COMPUTER CENTER The books have been closed for the first year of business for Smith Compute The company ended up with a marginal profit for the first three months in Thad expects faster growth as he enters a busy season. r Center Following is a list of transactions for the month of October. Petty Cash acco #1010 and Miscellaneous Expense account #5100 have been added to the chart of accounts. Oct. 1 Paid rent for November, December, and January, $1.,500 (check no. 8108). Established a petty cash fund for $300. Collected $4,600 from a cash customer for building five systems. Collected $2,700, the amount due from Dr. Michael Turionos invoice no. 12674, customer on account Purchased $40 worth of stamps using petty cash voucher no. 101. Withdrew $900 (check no. 8109) for personal use. Purchased $25 worth of supplies using petty cash voucher no. 102. Paid the newspaper carrier $15 using petty cash voucher no. 103. Paid the amount due on the August phone bill, $35 (check no. 8110). (Recorded on Sept. 20) 2 4 5 6 7 8 12 16 17 Paid the amount due on the August electric bil, $85 (check no. 8111) (Recorded on Sept. 22) Performed computer services for Phits Photography; billed the dlient $5,400 (invoice no. 12675). 22 Paid $20 for computer paper using petty cash voucher no. 104. Took $15 out of petty cash for lunch, voucher no. 105. 23 30 81 Replenished the petty csh, Coin and curency in drawer total $185.
Recause Thad was so busy trying to close his books, he forgot to reconcile his last T&Banking Procedures and Control of Cash months of bank statements. A list of all deposits and checks written for the past hr months (each entry is identified by chapter, transaction date, or transaction let er) and the bank statements for July through September are provided. The statement for October wont arrive until the first week of November. Assignment Record the transactions in general journal and auxiliary petty cash record. Post the transactions to the general ledger accounts. 3. Prepare a trial balance. Compare the Smith Computer Centers deposits and checks with the bank state ments and complete a bank reconciliation as of September 30, 20x. Smith Computer Center Summary of Deposits and Checks Deposits Chapter Transaction Payor/Payee Thad Feldman Cash customer Phils Photography Cash customer Cash customer Tonya Parker Jones Lilly Life Erin Caffrey Howard Trale $6,000 800 500 1,300 420 150 1,700 750 Sept. 2 Sept. 6 Sept. 26 Checks Payor/Payee Amount $1,800 3,300 500 175 450 150 Chapter Transaction Check # A-Tech, Inc. Bertha and Pac Furniture, Inc. 8095 8096 8097 Chapin Corp. 8098 8099 8100 8101 8102 8103 8104 8105 8106 8107 Thad Feldman Insurance Protection, Inc. The Staple Store Computer Edge Magazine San Diego Electric U.S. Postmaster Chapin Corp Pacific Bell USA Computers R Us A-Tech, Inc. 75 70 1,500 Sept.1 Sept. 8 Sept. 15 Sept. 17 300 2,100
APTER 6 Banking Procedures and Control of Cash Bank Statement First Union Bank 322 Glen Ave. Escondido, CA 92025 Statement Date: July 22, 201x Smith Computer Center Deposits and Credits: Checks Paid: Amount Date received 1,800.00 7-1 Number 8095 8096 8097 Date paid 6,000.00 800.00 7-7 7-15 3,300.00 7-10 500.00 7-20 7-21 600.00 $9,200.00 otal Deposits Total 3 checks paid for $5,600.00 Ending balance on July 22-$3,600.00 Received statement July 29, 201x. Bank Statement First Union Bank 322 Glen Ave. Escondido, CA 92025 Smith Computer Center Statement Date: August 21, 201x Deposits and Credits: Checks Paid: Date paid 8-2 8-3 8-10 8-15 8-20 Total 5 checks paid for $1,750.00 Amount 1,300.00 Number 8098 8099 8100 8101 8102 Amount Date received 175.00 8-12 450.00 150.00 900.00 75.00 Total Deposits $1,300.00 Beginning balance on July 22-$3,600.00E Ending balance on August 21-$3,150.0 Received statement August 27, 201x. Bank Statement First Union Bank 322 Glen Ave. Escondido, CA 92025 Smith Computer Center Statement Date: September 30, 201X Checks Paid: Deposits and Credits: Date paid Number 8103 8104 8105 Amount Date received 70.00 9-4 1,500.00 9-7 420.00 9-12 Total 3 checks paid for $1,650.00 Beginning balance on August 21 $3,150.00 Received statement September 30, 201X. 80.00 9-14 1,700.00 Total Deposits Ending balance on September 30 3,770.00
Reading the Kellogg's Annual Report o to http://investor.kelloggs.com/investor-relations/an Kellogg's 2013 Annual Report. How often do you think Kellogg's reconclsthe tatement? What type of security control may be in place? Support your possbanlk ports to access les its ON THE JOB SMITH COMPUTER CENTER The books have been closed for the first year of business for Smith Compute The company ended up with a marginal profit for the first three months in Thad expects faster growth as he enters a busy season. r Center Following is a list of transactions for the month of October. Petty Cash acco #1010 and Miscellaneous Expense account #5100 have been added to the chart of accounts. Oct. 1 Paid rent for November, December, and January, $1.,500 (check no. 8108). Established a petty cash fund for $300. Collected $4,600 from a cash customer for building five systems. Collected $2,700, the amount due from Dr. Michael Turiono's invoice no. 12674, customer on account Purchased $40 worth of stamps using petty cash voucher no. 101. Withdrew $900 (check no. 8109) for personal use. Purchased $25 worth of supplies using petty cash voucher no. 102. Paid the newspaper carrier $15 using petty cash voucher no. 103. Paid the amount due on the August phone bill, $35 (check no. 8110). (Recorded on Sept. 20) 2 4 5 6 7 8 12 16 17 Paid the amount due on the August electric bil, $85 (check no. 8111) (Recorded on Sept. 22) Performed computer services for Phit's Photography; billed the dlient $5,400 (invoice no. 12675). 22 Paid $20 for computer paper using petty cash voucher no. 104. Took $15 out of petty cash for lunch, voucher no. 105. 23 30 81 Replenished the petty csh, Coin and curency in drawer total $185.
Recause Thad was so busy trying to close his books, he forgot to reconcile his last T&Banking Procedures and Control of Cash months of bank statements. A list of all deposits and checks written for the past hr months (each entry is identified by chapter, transaction date, or transaction let er) and the bank statements for July through September are provided. The statement for October won't arrive until the first week of November. Assignment Record the transactions in general journal and auxiliary petty cash record. Post the transactions to the general ledger accounts. 3. Prepare a trial balance. Compare the Smith Computer Center's deposits and checks with the bank state ments and complete a bank reconciliation as of September 30, 20x. Smith Computer Center Summary of Deposits and Checks Deposits Chapter Transaction Payor/Payee Thad Feldman Cash customer Phil's Photography Cash customer Cash customer Tonya Parker Jones Lilly Life Erin Caffrey Howard Trale $6,000 800 500 1,300 420 150 1,700 750 Sept. 2 Sept. 6 Sept. 26 Checks Payor/Payee Amount $1,800 3,300 500 175 450 150 Chapter Transaction Check # A-Tech, Inc. Bertha and Pac Furniture, Inc. 8095 8096 8097 Chapin Corp. 8098 8099 8100 8101 8102 8103 8104 8105 8106 8107 Thad Feldman Insurance Protection, Inc. The Staple Store Computer Edge Magazine San Diego Electric U.S. Postmaster Chapin Corp Pacific Bell USA Computers R Us A-Tech, Inc. 75 70 1,500 Sept.1 Sept. 8 Sept. 15 Sept. 17 300 2,100
APTER 6 Banking Procedures and Control of Cash Bank Statement First Union Bank 322 Glen Ave. Escondido, CA 92025 Statement Date: July 22, 201x Smith Computer Center Deposits and Credits: Checks Paid: Amount Date received 1,800.00 7-1 Number 8095 8096 8097 Date paid 6,000.00 800.00 7-7 7-15 3,300.00 7-10 500.00 7-20 7-21 600.00 $9,200.00 otal Deposits Total 3 checks paid for $5,600.00 Ending balance on July 22-$3,600.00 Received statement July 29, 201x. Bank Statement First Union Bank 322 Glen Ave. Escondido, CA 92025 Smith Computer Center Statement Date: August 21, 201x Deposits and Credits: Checks Paid: Date paid 8-2 8-3 8-10 8-15 8-20 Total 5 checks paid for $1,750.00 Amount 1,300.00 Number 8098 8099 8100 8101 8102 Amount Date received 175.00 8-12 450.00 150.00 900.00 75.00 Total Deposits $1,300.00 Beginning balance on July 22-$3,600.00E Ending balance on August 21-$3,150.0 Received statement August 27, 201x. Bank Statement First Union Bank 322 Glen Ave. Escondido, CA 92025 Smith Computer Center Statement Date: September 30, 201X Checks Paid: Deposits and Credits: Date paid Number 8103 8104 8105 Amount Date received 70.00 9-4 1,500.00 9-7 420.00 9-12 Total 3 checks paid for $1,650.00 Beginning balance on August 21 $3,150.00 Received statement September 30, 201X. 80.00 9-14 1,700.00 Total Deposits Ending balance on September 30 3,770.00
Business Accounting
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Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to yo 1. General Journal Date Account Debit Credit > Oct 1 Oct 1 Prepaid Rent Cash 1,500 $1,500 Petty Cash Cash 300 Oct 2 Oct 2 $ 300 Oct 4 Oct 4 Cash Revenue 4,600 $ 4,600 Oct 5 Oct 5 Cash Accounts Receivable 2,700 $ 2,700 Oct 6 40 Postage Expense Petty Cash Oct 6 $40 Oct 7 Oct 7 Drawing Cash 900 $ 900 Supplies Petty Cash Oct 8 25 Oct 8 S 25 Oct 12 Oct 12 Books and Periodicals Expense Petty Cash 15 $ 15 Oct 16 Oct 16 Phone Expense Payable Cash 35 $35 Oct 17 Oct 17 Utility Expense Payable Cash 85 $85 Oct 22 Oct 22 Accounts Receivable Revenue 5,400 $ 5,400 Oct 23 Oct 23 Printing and Stationery Petty Cash 20 $20 15 Oct 30 Oct 30 Drawing Petty Cash $15 Oct 31 Oct 31 Petty Cash Cash 115 $ 115Auxiliary Petty Cash Record: Date Voucher No Receipt Total Payment Postage Supplies Books and Periodicals Printing and Stationery Drawing $300 Oct 2 Oct 6 Oct 8 Oct 12 Oct 23 Oct 30 Ending Balance 101 102 103 104 105 40 $40 25 15 20 15 $25 15 20 $15 185 Total $300 $ 300 40 $25 $ 15 $ 20 $15 Ending Balance Replenishment Adj Balance $185 $115 $ 3002. General Ledger Balance Debit CreditDebit Account Accounts Receivable Date Beginning Balance Oct 5 Oct 22 Credit 2700 0 5400 2700 2700 5400 Books and Periodicals Expense Oct 12 15 2120 Beginning Balance Oct 1 Oct 2 Oct 4 Oct 5 Oct 7 Oct 16 Oct 17 Oct 31 2120 620 320 4920 7620 6720 6685 6600 6485 1500 300 4600 2700 900 85 115 Drawing Oct 7 Oct 30 900 15 900 915 Petty Cash Oct 2 Oct 6 Oct 8 Oct 12 Oct 23 Oct 30 Oct 31 300 260 235 220 200 185 300 300 115 Phone Expense Payable Beginning Oct 16 35 35 0 Oct 6 40 Postage Expense Prepaid Rent Printing and Stationery Oct 1 1500 1500 Oct 23 20 5400 4600 Revenue Oct 22 Oct 4 5400 10000 Supplies Oct 8 Utility Expense Payable 85 Beginning Oct 17 85 03. Trial Balance Debit Credit Account Accounts Receivable Cash Petty Cash Prepaid Rent Supplies Capital (beginning balance assumed to be of capital) Drawing Revenue Books and Periodicals Expense Postage Expense Printing and Stationery 5,400 6,485 300 1,500 25 S4,700 915 10,000 15 40 20 4.</p><p>Bank Reco Bank Reconcillation Bank Book Balance Sep 30 $ 2,120 Balance Sep 30 Add Deposit in transit 3,770 750 4,520 300 $ 2,120 Less: Outstanding Checks Ch 8106 Ch 8107 2,100 Adjusted Balance 2,120 Adjusted Balance $ 2,120

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