Question: Prepare the journal entry to replenish the fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 2 decimal places, eg. 52.75. List all debit entries before credit entries.) VIEW POLIES Show Attempt History Current Attempt in Progress Sunland Airline needs to send one of its employees to Nunavut for three weeks to perform some repairs on some aircraft it owns. Some of the payments to be made for the supplies needed on the assignment will be paid from a petty cash fund. Sunland issued a cheque in the amount of $800.00 to establish the fund. After a few days at the assignment, the nployee returned the following receipts along with a report that the fund had $69.20 left in cash. Receipt Amount Description 1 $26.85 Taxi ride from airport to job site 43.50 FedEx charges for delivering plane parts 35.60 4 74.05 5 355.30 90.60 44.05 Long distance telephone charges Supplies Air freight to ship parts out for overhaul Supplies Tarp to protect engine from elements 57.00 Grease and oil supplies (a) Your Answer Correct Answer Your answer is correct. Prepare the journal entry to establish the petty cash fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 2 decimal places, eg. 52.75. List debit entry before credit entry.) Account Titles Petty Cash Debit 800 Credit
Question: Prepare the journal entry to replenish the fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 2 decimal places, eg. 52.75. List all debit entries before credit entries.) VIEW POLIES Show Attempt History Current Attempt in Progress Sunland Airline needs to send one of its employees to Nunavut for three weeks to perform some repairs on some aircraft it owns. Some of the payments to be made for the supplies needed on the assignment will be paid from a petty cash fund. Sunland issued a cheque in the amount of $800.00 to establish the fund. After a few days at the assignment, the nployee returned the following receipts along with a report that the fund had $69.20 left in cash. Receipt Amount Description 1 $26.85 Taxi ride from airport to job site 43.50 FedEx charges for delivering plane parts 35.60 4 74.05 5 355.30 90.60 44.05 Long distance telephone charges Supplies Air freight to ship parts out for overhaul Supplies Tarp to protect engine from elements 57.00 Grease and oil supplies (a) Your Answer Correct Answer Your answer is correct. Prepare the journal entry to establish the petty cash fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 2 decimal places, eg. 52.75. List debit entry before credit entry.) Account Titles Petty Cash Debit 800 Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Question:
Prepare the journal entry to replenish the fund. (Credit account titles are automatically indented when the amount is entered. Do
not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to
2 decimal places, eg. 52.75. List all debit entries before credit entries.)
VIEW POLIES
Show Attempt History
Current Attempt in Progress
Sunland Airline needs to send one of its employees to Nunavut for three weeks to perform some repairs on some aircraft it owns.
Some of the payments to be made for the supplies needed on the assignment will be paid from a petty cash fund. Sunland issued a
cheque in the amount of $800.00 to establish the fund. After a few days at the assignment, the nployee returned the following
receipts along with a report that the fund had $69.20 left in cash.
Receipt
Amount
Description
1
$26.85
Taxi ride from airport to job site
43.50
FedEx charges for delivering plane parts
35.60
4
74.05
5
355.30
90.60
44.05
Long distance telephone charges
Supplies
Air freight to ship parts out for overhaul
Supplies
Tarp to protect engine from elements
57.00
Grease and oil supplies
(a)
Your Answer Correct Answer
Your answer is correct.
Prepare the journal entry to establish the petty cash fund. (Credit account titles are automatically indented when the amount is
entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers
to 2 decimal places, eg. 52.75. List debit entry before credit entry.)
Account Titles
Petty Cash
Debit
800
Credit
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