Servicios Múltiples JAAR, SRL created a petty cash fund for RD$2,000.00. During the month, the custodian authorized and signed petty cash disbursements, as described below: Voucher No. Concept Name Account Amount 1 Buy Water Bottle Personnel Services Expense 150.00 2 Caribe Tours Shipping Transportation Expense 100.00 3 Fuel Courier Fuel Expense 300.00 5 Copy Closet Key Maintenance Expense 450.00 6 Mouse Pad for Reception Supplies Expense 75.00 Required: 1. Make journal entries for: a. Create the petty cash fund; b. Record the petty cash replenishment; c. Petty cash shortage. The cash in the petty cash fund totals RD$725.00 and, therefore, RD$200.00 is missing. Include explanations.
Servicios Múltiples JAAR, SRL created a petty cash fund for RD$2,000.00. During the month, the custodian authorized and signed petty cash disbursements, as described below: Voucher No. Concept Name Account Amount 1 Buy Water Bottle Personnel Services Expense 150.00 2 Caribe Tours Shipping Transportation Expense 100.00 3 Fuel Courier Fuel Expense 300.00 5 Copy Closet Key Maintenance Expense 450.00 6 Mouse Pad for Reception Supplies Expense 75.00 Required: 1. Make journal entries for: a. Create the petty cash fund; b. Record the petty cash replenishment; c. Petty cash shortage. The cash in the petty cash fund totals RD$725.00 and, therefore, RD$200.00 is missing. Include explanations.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Servicios Múltiples JAAR, SRL created a petty cash fund for RD$2,000.00. During the month, the custodian authorized and signed petty cash disbursements, as described below:
|
Voucher No. |
Concept |
Name |
Account Amount |
|
1 |
Buy Water Bottle |
Personnel Services Expense |
150.00 |
|
2 |
Caribe Tours Shipping |
Transportation Expense |
100.00 |
|
3 |
Fuel Courier |
Fuel Expense |
300.00 |
|
5 |
Copy Closet Key |
Maintenance Expense |
450.00 |
|
6 |
Mouse Pad for Reception |
Supplies Expense |
75.00 |
Required:
1. Make journal entries for:
a. Create the petty cash fund;
b. Record the petty cash replenishment;
c. Petty cash shortage. The cash in the petty cash fund totals RD$725.00 and, therefore, RD$200.00 is missing. Include explanations.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education