Brooks Agency set up a petty cash fund for $440 on 9/9. At the end of the current period 9/30, the fund contained $170 and had the following receipts: miscellaneous expenses, $124; postage, $79 and transportation-in, $54;. Brooks Agency uses the perpetual system for accounting of merchandise inventory. Record (1) the 9/9 journal entry to establish the fund, (2) the 9/30 entry to reimburse the fund, and (3) the 10/1 entry to increase the fund to $500. View transaction list Journal entry worksheet < 1 2 3 >

Brooks Agency set up a petty cash fund for $440 on 9/9. At the end of the current period 9/30, the fund contained $170 and had the following receipts: miscellaneous expenses, $124; postage, $79 and transportation-in, $54;. Brooks Agency uses the perpetual system for accounting of merchandise inventory. Record (1) the 9/9 journal entry to establish the fund, (2) the 9/30 entry to reimburse the fund, and (3) the 10/1 entry to increase the fund to $500. View transaction list Journal entry worksheet < 1 2 3 >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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(a) Established a petty cash fund of $235. (b) The petty cash fund now has a balance of $42.80. Replenished the fund, based on the following disbursements as indicated by a summary of the petty cash receipts: office supplies, $74.50; miscellaneous administrative expense, $92.75; and miscellaneous selling expense, $18.60. (c) Increased the petty cash fund to $300. Required: Present entries to record the above transactions. Refer to the Chart of Accounts for exact wording of account titles.
The entry title for transportation-in is said to be incorrect even though the problem states that transportation-in was $58, which the $58 entry was right but the title for it was wrong. The only other thing I could think that goes there is freight-in but thats not an option. Thank you.
Provide all 3 graphs
E8-5 Auld Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the following petty cash receipts were found in the petty cash box: Date For Receipt No. 1 2 3 Mar. 5 7 9 11 14 Postage Stamps Freight In (assume perpetual inventory system) Miscellaneous Expense Travel Expense Miscellaneous Expense There was $4 in the cash box when the fund was replenished on March 15. On March 20, the amount in the fund was increased to $150. 4 5 Amount $38 19 12 Instructions Journalize the entries in March for the operation of the petty cash fund. E8-6 Part 1: The followin 24 5/98
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Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $400. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4 Merchandise purchased December 7 Delivery expense December 12 Purchase of office supplies December 18 Miscellaneous expense $62 $46 $30 $51 If, in addition to these receipts, the petty cash fund contains $201 of cash, the Journal entry to reimburse the fund on December 31 will include:
Waupaca Company establishes a $300 petty cash fund on September 9. On September 30, the fund shows $36 in cash along with receipts for the following expenditures: transportation-in, $57; postage expenses, $77; and miscellaneous expenses, $117. The petty cashier could not account for a $13 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $355. View transaction list Journal entry worksheet 1 2 3 Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits. Date Sept 09 Record entry General Journal Clear entry Debit Credit View general journal >
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Willard Company established a $400 petty cash fund on September 9, 2020. On September 30, the fund had $159.40 in cash along with receipts for these expenditures: transportation-in, $32.45; office supplies, $113.55; and repalrs expense, $87.60. Willard uses the perpetual method to account for merchandise Inventory. The petty cashier could not account for the $7.00 shortage In the fund. a. Prepare the September 9 entry to establish the fund. View transaction list Journal entry worksheet 1 Record the entry to establish the fund. Note: Enter debits before credits. Date General Journal Debit Credit Sep 09, 2020 Record entry Clear entry View general jourmal