Required information PB 5-4 (Supplement 5A) Reporting Petty Cash Transactions (LO 5-5, LO 5-S1] [The following information applies to the questions displayed below.] Service World maintains a petty cash fund. The fund custodian encountered the following events. a. The fund was established when a check for $300 was cashed and deposited into a locked cash box. b. An employee submitted a receipt for a customer delivery costing $20 and was reimbursed in full from petty cash. C. Another employee submitted a receipt for $60 for locksmith repairs to the office door and was reimbursed in full from petty cash. d. An employee submitted a receipt for newspaper advertising that cost the company $50. She was given $50 from the petty cash box. e. The petty cash custodian received and cashed a check that fully replenished the petty cash fund. f. An employee submitted a receipt for $35 for supplies and was reimbursed in full from petty cash. g. An employee submitted a receipt for $65 for filling up his personal vehicle. He was not reimbursed because it would violate company policy. h. At the end of the month, a check was given to the petty cash custodian to not only replenish the petty cash fund but also increase the total fund to $400. PB5-4 Part 1 Required: 1. Prepare any required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list
Required information PB 5-4 (Supplement 5A) Reporting Petty Cash Transactions (LO 5-5, LO 5-S1] [The following information applies to the questions displayed below.] Service World maintains a petty cash fund. The fund custodian encountered the following events. a. The fund was established when a check for $300 was cashed and deposited into a locked cash box. b. An employee submitted a receipt for a customer delivery costing $20 and was reimbursed in full from petty cash. C. Another employee submitted a receipt for $60 for locksmith repairs to the office door and was reimbursed in full from petty cash. d. An employee submitted a receipt for newspaper advertising that cost the company $50. She was given $50 from the petty cash box. e. The petty cash custodian received and cashed a check that fully replenished the petty cash fund. f. An employee submitted a receipt for $35 for supplies and was reimbursed in full from petty cash. g. An employee submitted a receipt for $65 for filling up his personal vehicle. He was not reimbursed because it would violate company policy. h. At the end of the month, a check was given to the petty cash custodian to not only replenish the petty cash fund but also increase the total fund to $400. PB5-4 Part 1 Required: 1. Prepare any required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
What are the journal entries for each of these transactions?
![and 6 Review
Saved
Required information
PB 5-4 (Supplement 5A) Reporting Petty Cash Transactions (LO 5-5, LO 5-S1]
[The following information applies to the questions displayed below.]
Service World maintains a petty cash fund. The fund custodian encountered the following events.
a. The fund was established when a check for $300 was cashed and deposited into a locked cash box.
b. An employee submitted a receipt for a customer delivery costing $20 and was reimbursed in full from petty cash.
C. Another employee submitted a receipt for $60 for locksmith repairs to the office door and was reimbursed in full from
petty cash.
d. An employee submitted a receipt for newspaper advertising that cost the company $50. She was given $50 from the
petty cash box.
e. The petty cash custodian received and cashed a check that fully replenished the petty cash fund.
f. An employee submitted a receipt for $35 for supplies and was reimbursed in full from petty cash.
g. An employee submitted a receipt for $65 for filling up his personal vehicle. He was not reimbursed because it would
violate company policy.
h. At the end of the month, a check was given to the petty cash custodian to not only replenish the petty cash fund but
also increase the total fund to $400.
PB5-4 Part 1
Required:
1. Prepare any required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the
first account field.)
View transaction list](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5391278e-ce8b-4d56-a022-146cbccccecc%2F539b1586-8f62-4ccc-875b-c542eabeca31%2F2c9hwjq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:and 6 Review
Saved
Required information
PB 5-4 (Supplement 5A) Reporting Petty Cash Transactions (LO 5-5, LO 5-S1]
[The following information applies to the questions displayed below.]
Service World maintains a petty cash fund. The fund custodian encountered the following events.
a. The fund was established when a check for $300 was cashed and deposited into a locked cash box.
b. An employee submitted a receipt for a customer delivery costing $20 and was reimbursed in full from petty cash.
C. Another employee submitted a receipt for $60 for locksmith repairs to the office door and was reimbursed in full from
petty cash.
d. An employee submitted a receipt for newspaper advertising that cost the company $50. She was given $50 from the
petty cash box.
e. The petty cash custodian received and cashed a check that fully replenished the petty cash fund.
f. An employee submitted a receipt for $35 for supplies and was reimbursed in full from petty cash.
g. An employee submitted a receipt for $65 for filling up his personal vehicle. He was not reimbursed because it would
violate company policy.
h. At the end of the month, a check was given to the petty cash custodian to not only replenish the petty cash fund but
also increase the total fund to $400.
PB5-4 Part 1
Required:
1. Prepare any required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the
first account field.)
View transaction list
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