ACC 106
Test #3

ACC 106
Test #3
NAME_____________
Directions: On April 1, a petty cash fund was established for $150. The following vouchers were issued during the month. Prepare the journal entries to (a) establish the petty cash fund on April 1 and (b) replenish the petty cash fund on April 30.

Date
Purpose
Amount
6 Office supplies 12.00
8 Taxi fare for customer (travel and entertainment) 27.50
12 Postage due 4.50
17 Donation (Red Cross) 20.00
24 Office supplies 21.00
30 Owner withdrawal for personal use 50.00

GENERAL JOURNAL

DATE
DESCRIPTION POST
REF
DEBIT
CREDIT

Directions: Tobi’s Tax & Accounting Services has four employees who are paid on a weekly basis. Each is paid time and one-half for working more than 40 hours in one week. The payroll data for the week ended October 31 is shown below. Use this information to complete the payroll register on the next page. Round to the nearest two decimal places, as needed. Total and verify the columns.

The cumulative earnings shown above are for the year through last week. Social Security tax is withheld at 6.2% and Medicare tax at 1.45%. Each employee who is married has $45 withheld for health insurance, and each employee who is single has $18 withheld. Ulmer has $30 deducted each pay period for U.S. Savings Bonds. The unemployment compensation earnings for each of the employees is $0.00 for this pay period.
PAYROLL REGISTER
Name Number of Allowances Marital Status Earnings Taxable Earnings
Regular Overtime Total Cumulative Total Unemployment Compensation Social Security
J. Jay 1 S 0.00
K. Meier 0 S 0.00
L. Thayer 2 M 0.00
M. Ulmer 4 M 0.00
0.00

For the Week Ended 10/31/–
FIT Social Security Medicare Health Insurance U.S. Bonds Total Deductions Net Pay Check Number
1001
1002
1003
1004