Prepare the general journal entry to set up the petty cash fund on January 2, and to replenish the petty cash fund back upto $ 600 and Explain 3 different reasons for the disagree of the balance per company books and the bank statement balance. Swartz Company established a petty cash fund of $600 for small expenditures onJanuary 2, 20-. At the end of the month, the count of cash on hand indicated that $38.36remained in the fund. A sorting of petty cash vouchers disclosed that the following expenseshad been incurred during the month and the fund was replenished.$230.60Postage ExpenseOffice Supplies ExpenseMiscellaneous Expense165.90119.05HST Recoverable36.09GENERAL JOURNALPAGEDATEPARTICULARSP.R.DEBITCREDIT

The following computations are done to evaluate the ending balance of the petty cash book of Swartz…

Prepare the general journal entry to set up the petty cash fund on January 2, and to replenish the petty cash fund back upto $ 600 and Explain 3 different reasons for the disagree of the balance per company books and the bank statement balance.

Prepare the general journal entry to set up the petty cash fund on January 2, and to replenish the petty cash fund back upto $ 600 and Explain 3 different reasons for the disagree of the balance per company books and the bank statement balance.

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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