What is the total for expenditures for the month from petty cash?

1.Reconciling Petty Cash

Each month, $150 is available in petty cash funds for small office expenditures. Expenses paid from petty cash during the month are listed below.

Postage $26.00
Office supplies $46.25
Delivery charge $ 9.50
Physician’s parking fee $12.00

What is the total for expenditures for the month from petty cash? Round your answer to the nearest cent and do not include the dollar sign ($) in your answer.

How much is left in the petty cash fund at the end of the month? Round your answer to the neareset cent and do not include the dollar sign ($) in your answer.

How much is needed to replenish petty cash for the next month? Round your answer to the nearest cent and do not include the dollar sign ($) in your answer.

2.Reconciling a Bank Statement

Using the following information from the bank’s monthly statement and the physician’s checkbook information, reconcile the bank statement with the physician’s balance. What is the missing “Deposits Not on Bank Statement” amount? Round your answer to the nearest cent and do not include the dollar sign ($) or commas in your answer.

INFORMATION ON BANK STATEMENT
Beginning Balance $10,142.10
Total Debits/Checks $ 8,090.54
Total Credits/Deposits $17,983.18
New Balance $20,034.74
INFORMATION FROM PHYSICIAN’S CHECKING ACCOUNT
Balance $19,307.63
Outstanding Checks $ 982.16
$ 823.30
Deposits Not on Bank Statement $

3Updating Daily Journals
Complete the daily journals started for October 17 and October 18. Note that the patients have been listed for you. Information for charges has been obtained from each patient’s encounter form or from payments received on account. For each daily journal, total columns A, B, C, D, and E. Type those amounts, in dollars and cents (“XX.XX”), in the appropriate column of the “TOTALS” row at the bottom of each journal. Do NOT include a dollar sign ($) or commas in your answer. Then complete the Proof of Posting, Accounts Receivable Control, and Daily Cash sections. Post the daily ending accounts receivable balance onto the next daily journal. Note that no deposits were yet made. NOTE: For the purposes of this exercise, “Daily Cash” includes all non-charge payments as seen in the “Payment (B)” column.
DAILY JOURNAL

DATE 10/17/20– SHEET NO. 102
RECEIPT
NUMBER
DATE
DESCRIPTION
CHARGE
(A)
PAYMENT
(B)
ADJ (C)
BALANCE
(D)
PREVIOUS
BALANCE
(E)
NAME
1090 10/17 OV
44.00
—–
—–
44.00
—–
Sherman
1091 10/17 OV/Strep Screen
83.00
16.60
—–
66.40
—–
Villano
1092 10/17 OV
44.00
—–
—–
147.00
103.00
Robertson
1093 10/17 OV/Lab
241.00
48.20
—–
192.80
—–
Armstrong
1094 10/17 OV
44.00
—–
—–
44.00
—–
Casagranda
TOTALS

Proof of Posting Accounts Receivable Control Daily Cash
Column E Total Previous Balance 6260.40 Open Cash on Hand at Beginning of Day 0.00
Plus Column A Total Plus Column A Total
Subtotal Subtotal Cash Received During Day
Minus Column B Total Minus Column B Total
Equals Column D Total Present Accounts Receivable Balance Total

DAILY JOURNAL

DATE 10/18/20– SHEET NO. 103
RECEIPT
NUMBER
DATE
DESCRIPTION
CHARGE
(A)
PAYMENT
(B)
ADJ
(C)
BALANCE
(D)
PREVIOUS
BALANCE
(E)
NAME
1095 10/18 OV (WC)
44.00
—–
—–
44.00
—–
Sun, Cheng
1096 10/18 OV
44.00
—–
—–
44.00
—–
Jonathan
1097 10/18 CPE/Lab
278.00
—–
—–
278.00
—–
Babcock
TOTALS

Proof of Posting Accounts Receivable Control Daily Cash
Column E Total Previous Balance Open Cash on Hand at Beginning of Day
Plus Column A Total Plus Column A Total
Subtotal Subtotal Cash Received During Day
Minus Column B Total Minus Column B Total
Equals Column D Total Present Accounts Receivable Balance Total

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