Please see image Waupaca Company establishes a $410 petty cash fund on September 9. On September 30, the fund shows $181 in cash along withreceipts for the following expenditures: transportation-in, $41; postage expenses, $58; and miscellaneous expenses, $126. The pettycashier could not account for a $4 shortage in the fund. The company uses the perpetual system in accounting for merchandiseinventory.Waupaca Company establishes a $410 petty cash fund on September 9. On September 30, the fund shows $181 in cash along withreceipts for the following expenditures: transportation-in, $41; postage expenses, $58; and miscellaneous expenses, $126. The pettycashier could not account for a $4 shortage in the fund. The company uses the perpetual system in accounting for merchandiseinventory.Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry toincrease the fund to $490.Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry toincrease the fund to $490.View transaction listView transaction listJournal entry worksheetJournal entry worksheet<1 2 32>>Record the reimbursement of the petty cash fund.Prepare the journal entry to establish the petty cash fund.Note: Enter debits before credits.Note: Enter debits before credits.DateDebit CreditDateGeneral JournalDebit CreditGeneral JournalSept 09Sept 30Record entryClear entryView general journalRecord entryClear entryView general journalWaupaca Company establishes a $410 petty cash fund on September 9. On September 30, the fund shows $181 in cash along withreceipts for the foliowing expenditures: transportation-in, $41, postage expenses, $58, and miscellaneous expenses, $126. The pettycashier could not account for a $4 shortage in the fund. The company uses the perpetual system in accounting for merchandiseInventory.Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry toincrease the fund to $490.View transaction listJournal entry worksheet2Record the increase of the petty cash fund.Note: Enter debits before credits.DateGeneral JournalDebit CreditOct 01Record entryClear entryView general jourmal

Journal entry is a process of recording business transactions in the books of accounts for the first…

Waupaca Company establishes a $410 petty cash fund on September 9. On September 30, the fund shows $181 in cash along with receipts for the foliowing expenditures transportation-in $4t postage expenses. $58 and miscellaneous expenses, $126. The petty cashier could not account for a $4 shortage in the fund. The company uses the perpetual system in accounting for merchandise nventory Woupaca Company establishes a $410 petty cash fund on September 9. On September 30, the fund shows $181 in cash along with recepes for the foliowing expenditures transportationin $4t postage expenses. $58 and miscelaneous expenses. $126. The pety ceshier could not account for e $4 shortage in the fund. The company uses the perpetual system in eccounting for merchandise inventory Prepare the September 9 entry to establish the fund. 2) the September 30 entry to reimburse the fund, and ) an October t entry to increase the fund to $490 Prepare ( the September 9 entry to establish the fund. 2 the September 30 entry to reimburse the fund, and an October tentry to ncrease the fund to $490 Vwaan Vwwansacton Journal entry worksheet Journal entry worksheet Record the reimbursement of the petty cash fund. Prepare the jounal entry to establish the pety cash fund. Note: Enter debts befere creds Nute Enter deis befere credis Deb Credit General Joumal Debi Cred Date Date General Joumal Sept 0 Sept 30 Record entry Carentry Vw penerl nal Record entry Carery Vew general ouma Weupece Compeany establishes a S410 pety cesh fund on September On Seotember 30 the fund shows S8in cesh along with

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q