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PETTY CASH RECORD AND JOURNAL ENTRIES On May 1, a petty cash fund was established for $150. The following vouchers were issued during May: Date Voucher No. Purpose Amount $ 3.50 Postage due Office supplies Auto repair (miscellaneous) Drawing (Joy Adams) Donation (Red Cross) Travel expenses Postage stamps Phone call May 1 3 1 11.00 43.00 7. 25.00 11 10.00 15 28.00 22 3.50 26 8. 5.00 30 6. wwbdDonation (Boy Scouts) 20.00 REQUIRED 1. Prepare the journal entry to establish the petty cash fund. 2. Record the vouchers in the petty cash record. Total and rule the record. petty cash 3. Prepare the journal entry to replenish the petty cash fund. Make the appropriate entry in the petty cash record, 234 S670

PETTY CASH RECORD AND JOURNAL ENTRIES On May 1, a petty cash fund was established for $150. The following vouchers were issued during May: Date Voucher No. Purpose Amount $ 3.50 Postage due Office supplies Auto repair (miscellaneous) Drawing (Joy Adams) Donation (Red Cross) Travel expenses Postage stamps Phone call May 1 3 1 11.00 43.00 7. 25.00 11 10.00 15 28.00 22 3.50 26 8. 5.00 30 6. wwbdDonation (Boy Scouts) 20.00 REQUIRED 1. Prepare the journal entry to establish the petty cash fund. 2. Record the vouchers in the petty cash record. Total and rule the record. petty cash 3. Prepare the journal entry to replenish the petty cash fund. Make the appropriate entry in the petty cash record, 234 S670

FINANCIAL ACCOUNTING
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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How to solve 7-10 A 

P 7-10A (L03) / Replenishment: Cr. Cash, $149 PETTY CASH RECORD AND JOURNAL ENTRIES On May 1, a petty cash fund was established for $150. The following vouchers were issued during May: Date Voucher No. Purpose Amount $ 3.50 Postage due Office supplies Auto repair (miscellaneous) Drawing (Joy Adams) Donation (Red Cross) Travel expenses May 1 1 3 2 11.00 43.00 7 4 25.00 11 10.00 15 28.00 22 7 Postage stamps Phone call 3.50 26 8. 5.00 30 6. 9 bd Donation (Boy Scouts) 20.00 REQUIRED 1. Prepare the journal entry to establish the petty cash fund. 2. Record the vouchers in the petty cash record. Total and rule the petty cash record. 3. Prepare the journal entry to replenish the petty cash fund. Make the appropriate entry in the petty cash record.
Transcribed Image Text:P 7-10A (L03) / Replenishment: Cr. Cash, $149 PETTY CASH RECORD AND JOURNAL ENTRIES On May 1, a petty cash fund was established for $150. The following vouchers were issued during May: Date Voucher No. Purpose Amount $ 3.50 Postage due Office supplies Auto repair (miscellaneous) Drawing (Joy Adams) Donation (Red Cross) Travel expenses May 1 1 3 2 11.00 43.00 7 4 25.00 11 10.00 15 28.00 22 7 Postage stamps Phone call 3.50 26 8. 5.00 30 6. 9 bd Donation (Boy Scouts) 20.00 REQUIRED 1. Prepare the journal entry to establish the petty cash fund. 2. Record the vouchers in the petty cash record. Total and rule the petty cash record. 3. Prepare the journal entry to replenish the petty cash fund. Make the appropriate entry in the petty cash record.
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