The Crown Company established a $1,000 petty cash fund by issuing a cheque to the custodian on October 1. On October 15, the petty cash fund was replenished and increased to $1,500. The contents of the petty cash fund prior to the October 15 replenishment were Prepare the general journal entry to record the reimbursement and increasing of the fund on October 15.
The Crown Company established a $1,000 petty cash fund by issuing a cheque to the custodian on October 1. On October 15, the petty cash fund was replenished and increased to $1,500. The contents of the petty cash fund prior to the October 15 replenishment were Prepare the general journal entry to record the reimbursement and increasing of the fund on October 15.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The Crown Company established a $1,000 petty cash fund by issuing a cheque to the custodian on October 1. On October 15, the petty cash fund was replenished and increased to $1,500. The contents of the petty cash fund prior to the October 15 replenishment were
Prepare the general journal entry to record the reimbursement and increasing of the fund on October 15.
Transcribed Image Text:The Crown Company established a S$1,000 petty cash fund by issuing a cheque to the custodian on October 1. On October 15, the petty cash fund was replenished and increased to $1,500. The contents of the petty
cash fund prior to the October 15 replenishment were:
Currency and coins
$112
Petty cash receipts for:
Transportation-in
Delivery expense
$137
240
Repairs to office equipment
Postage
Entertainment of customers
153
230
130
890
Total
$1002
Prepare the general journal entry to record the reimbursement and increasing of the fund on October 15.
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