Make an entry in the cash payments journal for reimbursement

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Reference no: EM132620958

Petty Cash

Record the following transactions on a petty cash sheet. All petty cash vouchers will be numbered sequentially, beginning with #1. Ask your instructor which of the following tax rates to use:

i. No taxes

ii. Add 5% GST only

iii. Add 13% HST

iv. Add 5% GST + 7% PST

20-Nov.

1 The fund was started with $200. 1 Bought pads of writing paper for office, $27.70

3 Paid for delivery of above stationery, $5.78

4 Bought special order of merchandise, $13.14.

4 Paid for delivery of the above special order of merchandise by courier, $5.25

5 Bought sugar and cream for staff kitchen, $4.50 (no taxes).

6 Paid for minor repairs to office furniture, $18.06. (Debit Repairs Expense)

6 Paid ABC Courier for delivering merchandise to customer, $7.35.

7 Bought packaging materials for warehouse, $28.35.

10 Paid for printing of advertising flyers, $32.55.

17 Paid for delivery of incoming merchandise, $11.98.

21 Contributed $20 to Heart & Stroke Foundation (no taxes).

Question 1: Total all columns and prove equal debits and credits. Calculate the cash on hand.

Question 2: Make an entry in the Cash Payments Journal to establish the fund on November 1. Cheque #130 was issued.

Question 3: Make an entry in the Cash Payments Journal for the reimbursement of the fund on November 30

Reference no: EM132620958

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