Required information [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 $375 was cashed and deposited into a locked cash box. b. An employee submitted a receipt for a customer delivery costing $35 and was reimbursed in full from petty cash. c. Another employee submitted a receipt for $75 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 $65. She was given $65 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 $50 for supplies and was reimbursed in full from petty cash. g. An employee submitted a receipt for $80 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 $515. equired: . 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 Journal entry worksheet < 1 2 3 4 5 6 7 8 The fund was established when a check for $375 was cashed and deposited >
Required information [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 $375 was cashed and deposited into a locked cash box. b. An employee submitted a receipt for a customer delivery costing $35 and was reimbursed in full from petty cash. c. Another employee submitted a receipt for $75 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 $65. She was given $65 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 $50 for supplies and was reimbursed in full from petty cash. g. An employee submitted a receipt for $80 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 $515. equired: . 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 Journal entry worksheet < 1 2 3 4 5 6 7 8 The fund was established when a check for $375 was cashed and deposited >
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section5.4: Petty Cash
Problem 1WT
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![!
Required information
[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 $375 was cashed and deposited into a locked cash box.
b. An employee submitted a receipt for a customer delivery costing $35 and was reimbursed in full from petty cash.
c. Another employee submitted a receipt for $75 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 $65. She was given $65 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 $50 for supplies and was reimbursed in full from petty cash.
g. An employee submitted a receipt for $80 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 $515.
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
Journal entry worksheet
1
2
4 5 6 7
Note: Enter debits before credits.
8
The fund was established when a check for $375 was cashed and deposited
into a locked cash box. Record the transaction.
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6a572e2b-87df-48ba-8757-10a895e74e30%2F985369f2-d430-4651-b10f-87da9a28aaea%2Fbrbxqx_processed.png&w=3840&q=75)
Transcribed Image Text:!
Required information
[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 $375 was cashed and deposited into a locked cash box.
b. An employee submitted a receipt for a customer delivery costing $35 and was reimbursed in full from petty cash.
c. Another employee submitted a receipt for $75 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 $65. She was given $65 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 $50 for supplies and was reimbursed in full from petty cash.
g. An employee submitted a receipt for $80 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 $515.
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
Journal entry worksheet
1
2
4 5 6 7
Note: Enter debits before credits.
8
The fund was established when a check for $375 was cashed and deposited
into a locked cash box. Record the transaction.
>
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