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Petty Cash

Balance Sheet Debit Current Asset . Petty Cash. Income Statement Debit Other Expense . Loss on Plant Asset. Balance Sheet Debit Current Asset. Accounts Receivable. Balance Sheet Debit Plant Asset. Store Equipment. Balance Sheet Credit Liability . Accounts Payable.

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Petty Cash

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  1. Balance Sheet Debit Current Asset Petty Cash

  2. Income Statement Debit Other Expense Loss on Plant Asset

  3. Balance Sheet Debit Current Asset Accounts Receivable

  4. Balance Sheet Debit Plant Asset Store Equipment

  5. Balance Sheet Credit Liability Accounts Payable

  6. Balance Sheet Credit Plant Asset Accumulated Depreciation—Office Equipment

  7. Income Statement Credit Other Revenue Gain on Plant Assets

  8. Income Statement Credit Operating Revenue Sales

  9. Income Statement Credit Cost of Merchandise Purchases Returns & Allowances

  10. Income Statement Debit Operating Expense Uncollectible Accounts Expense

  11. Balance Sheet Debit Plant Asset Office Equipment

  12. Balance Sheet Debit Current Asset Merchandise Inventory

  13. Income Statement Debit Income Tax Expense Federal Income Tax Expense

  14. Income Statement Debit Operating Revenue Sales Discount

  15. Income Statement Debit Cost of Merchandise Purchases

  16. Balance Sheet Credit Stockholders’ Equity Capital Stock

  17. Income Statement Debit Other Expense Cash Short & Over (cash is short)

  18. Balance Sheet Credit Current Asset Allowance for Uncollectible Accounts

  19. Balance Sheet Credit Stockholders’ Equity Retained Earnings

  20. Income Statement Credit Cost of Merchandise Purchases Discount

  21. Income Statement Debit Operating Revenue Sales Returns and Allowances

  22. Income Statement Debit Stockholders’ Equity Dividends

  23. Balance Sheet Credit Plant Asset Accumulated Depreciation--Store Equipment

  24. Balance Sheet Debit Current Asset Prepaid Insurance

  25. Balance Sheet Credit Liability Sales Tax Payable

  26. Balance Sheet Debit Current Asset Notes Receivable

  27. Balance Sheet Credit Liability Notes Payable

  28. Income Statement Credit Other Revenue Interest Income

  29. Income Statement Debit Other Expense Interest Expense

  30. Depreciation Expense Income Statement Debit Operating Expense

  31. Salary Expense Income Statement Debit Operating Expense

  32. Employee Income Tax Payable Balance Sheet Credit Liability

  33. Unemployment Tax Payable--Federal Balance Sheet Credit Liability

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