Prepare the journal entries for the following petty cash transactions of Everly Gaming Supplies: Mar. 1 Established a petty cash fund with a $250 balance. The petty cash fund has $24 in cash and $235 in petty cash tickets that were issued to pay for Office Supplies ($35) and Entertainment Expense ($200). Replenished the fund and recorded the expenditures. Increased the balance of the petty cash fund to $300. 31 Apr. 15

Prepare the journal entries for the following petty cash transactions of Everly Gaming Supplies: Mar. 1 Established a petty cash fund with a $250 balance. The petty cash fund has $24 in cash and $235 in petty cash tickets that were issued to pay for Office Supplies ($35) and Entertainment Expense ($200). Replenished the fund and recorded the expenditures. Increased the balance of the petty cash fund to $300. 31 Apr. 15

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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Carla Vista Company established a petty cash fund on May 1, cashing a cheque for $150.00. The company replenished the fund on June 1 and July 1 with the following results. June 1: July 1: Cash in fund, $4.75 Receipts: Delivery expense Postage expense Travel expense Cash in fund. $3.25 Receipts: Delivery expense Entertainment expense Supplies $34.15 36.50 61.35 $30.00 69.45 47.30
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