On June 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,300. A. On June 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $138. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $420, Supplies $90, Postage Expense $260, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $170. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $252, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $192. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment as it was month-end. The following are the receipts: Auto Expense $114, Supplies $80, Postage Expense $50, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $598. Prepare journal entries for the above transactions. If an amount box does not require an entry, leave it blank. June 5 Auto Expense Auto Expense Supplies Supplies Postage Expense Postage Expense Repairs and Maintenance Expense Repairs and Maintenance Expense Miscellaneous Expense Miscellaneous Expense Cash Over and Short Cash Over and Short Cash Cash June 14 - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - June 23 - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - June 29 - Select - - Select - - Select - - Select - June 30 - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select -

On June 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,300. A. On June 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $138. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $420, Supplies $90, Postage Expense $260, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $170. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $252, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $192. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment as it was month-end. The following are the receipts: Auto Expense $114, Supplies $80, Postage Expense $50, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $598. Prepare journal entries for the above transactions. If an amount box does not require an entry, leave it blank. June 5 Auto Expense Auto Expense Supplies Supplies Postage Expense Postage Expense Repairs and Maintenance Expense Repairs and Maintenance Expense Miscellaneous Expense Miscellaneous Expense Cash Over and Short Cash Over and Short Cash Cash June 14 - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - June 23 - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - June 29 - Select - - Select - - Select - - Select - June 30 - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select -

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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Question

On June 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,300.

A. On June 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $138.

B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $420, Supplies $90, Postage Expense $260, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $170.

C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $252, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $192.

D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000.

E. On June 30, the petty cash fund needed replenishment as it was month-end. The following are the receipts: Auto Expense $114, Supplies $80, Postage Expense $50, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $598.

Prepare journal entries for the above transactions. If an amount box does not require an entry, leave it blank.

June 5	Auto Expense	Auto Expense
	Supplies	Supplies
	Postage Expense	Postage Expense
	Repairs and Maintenance Expense	Repairs and Maintenance Expense
	Miscellaneous Expense	Miscellaneous Expense
	Cash Over and Short	Cash Over and Short
	Cash	Cash
June 14	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
June 23	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
June 29	- Select -	- Select -
	- Select -	- Select -
June 30	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -

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