Required information Exercise 6-14A (Algo) Effect of petty cash events on the financial statements LO 6-4 [The following information applies to the questions displayed below.] Fresh Foods established a petty cash fund of $275 on January 2. On January 31, the fund contained cash of $70.30 and vouchers for the following cash payments. Maintenance expense office supplies $79.25 84.00 37.25 Transportation expense The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. Assume the company uses the alternative approach to petty cash expense recognition and replenishment. Exercise 6-14A (Algo) Part b b. Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your answers to 2 decimal places.)
Required information Exercise 6-14A (Algo) Effect of petty cash events on the financial statements LO 6-4 [The following information applies to the questions displayed below.] Fresh Foods established a petty cash fund of $275 on January 2. On January 31, the fund contained cash of $70.30 and vouchers for the following cash payments. Maintenance expense office supplies $79.25 84.00 37.25 Transportation expense The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. Assume the company uses the alternative approach to petty cash expense recognition and replenishment. Exercise 6-14A (Algo) Part b b. Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your answers to 2 decimal places.)
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 4AP
Related questions
Question
![Required information
Exercise 6-14A (Algo) Effect of petty cash events on the financial statements LO 6-4
[The following information applies to the questions displayed below.]
Fresh Foods established a petty cash fund of $275 on January 2. On January 31, the fund contained cash of $70.30 and
vouchers for the following cash payments.
Maintenance expense
office supplies
$79.25
84.00
37.25
Transportation expense
The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2)
reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. Assume the
company uses the alternative approach to petty cash expense recognition and replenishment.
Exercise 6-14A (Algo) Part b
b. Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in
the first account field. Round your answers to 2 decimal places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7a8dbd94-952e-4e29-8247-2a80d89905df%2F02646963-37ec-4efc-806a-85093b461aef%2Fp9lz47r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Exercise 6-14A (Algo) Effect of petty cash events on the financial statements LO 6-4
[The following information applies to the questions displayed below.]
Fresh Foods established a petty cash fund of $275 on January 2. On January 31, the fund contained cash of $70.30 and
vouchers for the following cash payments.
Maintenance expense
office supplies
$79.25
84.00
37.25
Transportation expense
The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2)
reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. Assume the
company uses the alternative approach to petty cash expense recognition and replenishment.
Exercise 6-14A (Algo) Part b
b. Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in
the first account field. Round your answers to 2 decimal places.)
![ces
Record entry for reimbursements made to employees.
Note: Enter debits before credits.
Event
2
General Journal
No journal entry required
Record entry
Clear entry
Debit
Credit
View general Journal](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7a8dbd94-952e-4e29-8247-2a80d89905df%2F02646963-37ec-4efc-806a-85093b461aef%2Fr35pctc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:ces
Record entry for reimbursements made to employees.
Note: Enter debits before credits.
Event
2
General Journal
No journal entry required
Record entry
Clear entry
Debit
Credit
View general Journal
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