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 $210 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 $270. a. Paid $55 for janitorial service. b. Purchased office supplies for $65. c. Purchased postage stamps for $17. d. Paid $63 to The County Crier for an advertisement in the newspaper, e. Discovered that $16 remained in the petty cash box. 30 The petty cashier noted that $168 remained in the fund and decided that the April 15 increase in the fund was ton 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 $230. f. Purchased office supplies for $62. E- Reimbursed office manager for business auto, $30. h. Paid $10 courier charges to deliver merchandise to a customer, journal entries to record the establishment of the fund on April 1 and its replenishments on April 15 and April 30
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 $210 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 $270. a. Paid $55 for janitorial service. b. Purchased office supplies for $65. c. Purchased postage stamps for $17. d. Paid $63 to The County Crier for an advertisement in the newspaper, e. Discovered that $16 remained in the petty cash box. 30 The petty cashier noted that $168 remained in the fund and decided that the April 15 increase in the fund was ton 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 $230. f. Purchased office supplies for $62. E- Reimbursed office manager for business auto, $30. h. Paid $10 courier charges to deliver merchandise to a customer, journal entries to record the establishment of the fund on April 1 and its replenishments on April 15 and April 30
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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DONT GIVE ANSWER IN IAMGE FORMAT
Transcribed Image Text: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 $210 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 $270.
a. Paid $55 for janitorial service.
b. Purchased office supplies for $65.
c. Purchased postage stamps for $17.
d. Paid $63 to The County Crier for an advertisement in the newspaper,
e. Discovered that $16 remained in the petty cash box,
30 The petty cashier noted that $168 remained in the fund and decided that the April 15 increase in the fund was ton 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 $230.
f. Purchased office supplies for $62.
E. Reimbursed office manager for business auto, $30.
h. Paid $10 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
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