June 14June 23June 29June 30IIIIIII IIIIIII II III11101IIIIII IIIIIII II IIIII00 On June 2 Kellie Company has decided to initiate a pettycash fund in the amount of $1,400.A. On June 5, the petty cash fund needed replenishment,and the following are the receipts: Auto Expense $125,Supplies $372, Postage Expense $335, Repairs andMaintenance Expense $99, Miscellaneous Expense $259.The cash on hand at this time was $222.B. On June 14, the petty cash fund needed replenishment,and the following are the receipts: Auto Expense $420,Supplies $90, Postage Expense $240, Repairs andMaintenance Expense $299, Miscellaneous Expense $77.The cash on hand at this time was $290.C. On June 23, the petty cash fund needed replenishment,and the following are the receipts: Auto Expense $255,Supplies $188, Postage Expense $263, Repairs andMaintenance Expense $182, Miscellaneous Expense $203.The cash on hand at this time was $289.D. On June 29, the company determined that the pettycash fund needed to be decreased to $1,000.E. On June 30, the petty cash fund needed replenishmentas it was month-end. The following are the receipts: AutoExpense $114, Supplies $80, Postage Expense $50, Repairsand Maintenance Expense $121, Miscellaneous Expense$39. The cash on hand at this time was $598.Prepare journal entries for the above transactions. If anamount box does not require an entry, leave it blank.June 5

Pass necessary journal entry to record replenishment of cash fund.Pass necessary journal entry to record replenishment of cash fund.Pass necessary journal entry to record replenishment of cash fund.

Answered: Prepare journal entries for the above…

Business

Accounting

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

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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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

June 14
June 23
June 29
June 30
IIIIIII IIIIIII II III1110
1IIIIII IIIIIII II IIIII00

On June 2 Kellie Company has decided to initiate a petty
cash fund in the amount of $1,400.
A. On June 5, the petty cash fund needed replenishment,
and the following are the receipts: Auto Expense $125,
Supplies $372, Postage Expense $335, Repairs and
Maintenance Expense $99, Miscellaneous Expense $259.
The cash on hand at this time was $222.
B. On June 14, the petty cash fund needed replenishment,
and the following are the receipts: Auto Expense $420,
Supplies $90, Postage Expense $240, Repairs and
Maintenance Expense $299, Miscellaneous Expense $77.
The cash on hand at this time was $290.
C. On June 23, the petty cash fund needed replenishment,
and the following are the receipts: Auto Expense $255,
Supplies $188, Postage Expense $263, Repairs and
Maintenance Expense $182, Miscellaneous Expense $203.
The cash on hand at this time was $289.
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

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