Capital Irrigation has only a General Journal in its accounting system and uses it to record all transactions. However, the company recently set up a petty cash fund to facilitate payments of small items. The following petty cash transactions were noted by the petty cashier as occurring during April 2023: Apr. 1 Received a company cheque for $270 to establish the petty cash fund. 15 Received a company cheque to replenish the fund for the following expenditures made since April 1 and to increase the fund to $350. a. Paid $71 for janitorial service. b. Purchased office supplies for $69. c. Purchased postage stamps for $23. d. Paid $87 to The County Crier for an advertisement in the newspaper. e. Discovered that $22 remained in the petty cash box. 30 The petty cashier noted that $206 remained in the fund and decided that the April 15 increase in the fund was too large. Therefore, a company cheque was issued to replenish the fund for the following expenditures made since April 15 and to reduce the fund to $310. f. Purchased office supplies for $86. 8. Reimbursed office manager for business auto, $42. h. Paid $16 courier charges to deliver merchandise to a customer. Prepare journal entries to record the establishment of the fund on April 1 and its replenishments on April 15 and April 30. View transaction list
Capital Irrigation has only a General Journal in its accounting system and uses it to record all transactions. However, the company recently set up a petty cash fund to facilitate payments of small items. The following petty cash transactions were noted by the petty cashier as occurring during April 2023: Apr. 1 Received a company cheque for $270 to establish the petty cash fund. 15 Received a company cheque to replenish the fund for the following expenditures made since April 1 and to increase the fund to $350. a. Paid $71 for janitorial service. b. Purchased office supplies for $69. c. Purchased postage stamps for $23. d. Paid $87 to The County Crier for an advertisement in the newspaper. e. Discovered that $22 remained in the petty cash box. 30 The petty cashier noted that $206 remained in the fund and decided that the April 15 increase in the fund was too large. Therefore, a company cheque was issued to replenish the fund for the following expenditures made since April 15 and to reduce the fund to $310. f. Purchased office supplies for $86. 8. Reimbursed office manager for business auto, $42. h. Paid $16 courier charges to deliver merchandise to a customer. Prepare journal entries to record the establishment of the fund on April 1 and its replenishments on April 15 and April 30. View transaction list
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Capital Irrigation has only a General Journal in its accounting system and uses it to record all transactions. However, the company
recently set up a petty cash fund to facilitate payments of small items. The following petty cash transactions were noted by the petty
cashier as occurring during April 2023:
Apr. 1 Received a company cheque for $270 to establish the petty cash fund.
15 Received a company cheque to replenish the fund for the following expenditures made since April 1 and to increase the fund
to $350.
a. Paid $71 for janitorial service.
b. Purchased office supplies for $69.
c. Purchased postage stamps for $23.
d. Paid $87 to The County Crier for an advertisement in the newspaper.
e. Discovered that $22 remained in the petty cash box.
30 The petty cashier noted that $206 remained in the fund and decided that the April 15 increase in the fund was too large.
Therefore, a company cheque was issued to replenish the fund for the following expenditures made since April 15 and to
reduce the fund to $310.
f. Purchased office supplies for $86.
8. Reimbursed office manager for business auto, $42.
h. Paid $16 courier charges to deliver merchandise to a customer.
Prepare journal entries to record the establishment of the fund on April 1 and its replenishments on April 15 and April 30.
View transaction list
Journal entry worksheet
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1
2
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Record to establish fund.
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