T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200. By the end of April, the fund has a cash balance of $97. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Utilities (credit card) Entertainment (petty cash) Stamps (petty cash) Plumbing repair services (credit card) $ 435 44 59 630 Required: Record the establishment of the petty cash fund on April 3, all expenditures made during the month, and the replenishment of the petty cash fund on April 30. The credit ca balance is paid in full on April 30. (If no entry is required for a transaction/event select "No journal entry required" in the first account field

T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200. By the end of April, the fund has a cash balance of $97. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Utilities (credit card) Entertainment (petty cash) Stamps (petty cash) Plumbing repair services (credit card) $ 435 44 59 630 Required: Record the establishment of the petty cash fund on April 3, all expenditures made during the month, and the replenishment of the petty cash fund on April 30. The credit ca balance is paid in full on April 30. (If no entry is required for a transaction/event select "No journal entry required" in the first account field

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 1PA: On September 1, French company has decided to initiate a petty cash fund in the amount of $800....

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200. By the end of April, the fund has a cash balance of $97. The company has also issued a credit
card and authorized its office manager to make purchases. Expenditures for the month include the following items:
Utilities (credit card)
Entertainment (petty cash)
Stamps (petty cash)
Plumbing repair services (credit card)
$ 435
44
59
630
Required:
Record the establishment of the petty cash fund on April 3, all expenditures made during the month, and the replenishment of the petty cash fund on April 30. The credit card
balance is paid in full on April 30. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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