QUESTION 2BE8.8E8.8 (LO 2) Horvath Company uses an jimprest petty cash system. The fund wasestablished on March 1 with a balance of $100. During March, the following pettycash receipts were found in the petty cash box.Prepare joumal entries for a petty cash fund.Date Receipt No. ForAmount3/51Stamp Inventory$397 29 3Freight-Out21Miscellaneous Expense11 4Travel Expense2414 5Miscellaneous Expense 5The fund was replenished on March 15 when the fund contained $2 in cash. OnMarch 20, the amount in the fund was increased to $175.InstructionsJournalize the entries in March that pertain to the operation of the petty cash fund.

E8.8 (LO 2) Horvath 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. Prepare joumal entries for a petty cash fund. Date Receipt No. For Amount 3/5 1 Stamp Inventory Freight-Out $39 7 2 9 3 21 Miscellaneous Expense Travel Expense 6 11 4 24 14 5 Miscellaneous Expense 5 The fund was replenished on March 15 when the fund contained $2 in cash. On March 20, the amount in the fund was increased to $175. Instructions Journalize the entries in March that pertain to the operation of the petty cash fund.

E8.8 (LO 2) Horvath 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. Prepare joumal entries for a petty cash fund. Date Receipt No. For Amount 3/5 1 Stamp Inventory Freight-Out $39 7 2 9 3 21 Miscellaneous Expense Travel Expense 6 11 4 24 14 5 Miscellaneous Expense 5 The fund was replenished on March 15 when the fund contained $2 in cash. On March 20, the amount in the fund was increased to $175. Instructions Journalize the entries in March that pertain to the operation of the petty cash fund.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

EcoMart establishes a $1,900 petty cash fund on May 2. On May 30, the fund shows $790 in cash along with receipts for the following expenditures: transportation-in, $154; postage expenses, $556; and miscellaneous expenses, $410. The petty cashier could not account for a $10 overage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare the (1) May 2 entry to establish the fund, (2) May 30 entry to reimburse the fund [Hint. Credit Cash Over and Short for $10 and credit Cash for $1,110], and (3) June 1 entry to increase the fund to $2,220. View transaction list Journal entry worksheet 1 2 Record the May 2 entry to establish the fund. Date May 02 3 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journal
Can you help me with this question
Kk.435.
Waupaca Company establishes a $440 petty cash fund on September 9. On September 30, the fund shows $161 in cash along with receipts for the following expenditures: transportation-in, $56; postage expenses, $68; and miscellaneous expenses, $141. The petty cashier could not account for a $14 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 $475. 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 September 09 Record entry General Journal Clear entry
GL0601 (Algo) - Based on Problem 6-2A LO P2 Carter Company set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May. May 1 Prepared a company check for $500 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. May 15 a. Paid $177 for janitorial services. May 15 b. Paid $133 for miscellaneous expenses. May 15 c. Paid postage expenses of $89. May 15 d. Paid $44 to Facebook for advertising expense. May 15 e. Counted $65 remaining in the petty cash box. May 16 Prepared a company check for $200 to increase the fund to $700. May 31 The petty cashier reports that $280 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. May 31 f. Paid postage expenses of $246. May 31 g. Reimbursed the office manager for business mileage, $123. May 31 h. Paid $41 to deliver merchandise to…
None
Waupaca Company establishes a $480 petty cash fund on September 9. On September 30, the fund shows $240 in cash along with receipts for the following expenditures: transportation-in, $42; postage expenses, $70; and miscellaneous expenses, $117. The petty cashier could not account for a $11 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 $545. View transaction list Journal entry worksheet 1 2 Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits. Date General Journal Debit Cre September 09 Record entry Clear entry View genera
answer in text form please (without image), Note: .Every entry should have narration please
PA1. LO 8.5 On September 1, French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries for the following transactions: A. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense S168, Miscellaneous Expense $149. The cash on hand at this time was $48. B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense S18, Supplies $175, Postage Expense S50, Repairs and Maintenance Expense S269, Miscellaneous Expense $59. The cash on hand at this time was $210. C. On September 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense S251, Supplies $88, Postage Expense S63, Repairs and Maintenance Expense S182, Miscellaneous Expense $203. The cash on hand at this time was S20. D. On September 29, the company determined that the petty cash fund…
Submit it in excel form
.
11. The accountant for ABC established a petty cash fund of P2,000. During October. The fund was depleted by the following disbursements: Shipping expense, P850 Travel expense, P300 Postage expense, P190 Miscellaneous supplies, P195 In addition to receipts for the above items, the petty cash box contained P10 in coins and an IOU of P45 from the secretary handling the fund. The company uses a cash over and short expense account, as needed. The company decided to decrease the petty cash fund to P1,600. Determine the amount of cash short/ over. (sample answer – 100 short or 100 over) The correct answer is: 410 short