Problem 14 During July, several events occurred at the Flamingo Resort. a. On July 1, a Petty Cash Fund was established in the amount of $100. b. On July 15, the fund was replenished, since it had a balance of $4 with the following receipts: Postage Office Supplies Shipping Charges to UPS $30 $25 $40 On July 16, the fund was increased to $200. c. d. On July 31, the fund was replenished, since it had a balance of $12 with the following receipts: Spare Parts Stamps Shop Supplies Inventory $35 $28 $27 $100 03:08 Required: Journalize all of the necessary transactions for July in chronological order.
My text book is Hospitality Industry Financial Accounting (4th edition). I am in chapter 8 -- CASH now.
There is a question asks for journalize all of the necessary transactions for July in chronological order.
The scenario is the following:
During July, several events occurred at the Flamingo Resort.
a. On July 1, a Petty Cash Fund was established in the amount of $100.
b. On July 15, the fund was replenished, since it had a balance of $4 with the following receipts:
Postage $30
Office Supplies $25
Shipping Charges to UPS $40
c. On July 16, the fund was increased to $200.
d. On July 31, the fund was replenished, since it had a balance of $12 with the following receipts:
Spare Parts $35
Stamps $28
Shop Supplies $27
Inventory $100
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