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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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 following expenditures: transportation expenses, $41; 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 inventory.
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 to increase the fund to $490.
- **Journal entry worksheet (Entry 1):**
- Prepare the journal entry to establish the petty cash fund.
- Date: Sept 09
- General Journal: [Blank rows for debit and credit entries]
- Notes: Enter debits before credits.
- Buttons: Record entry, Clear entry, View general journal
- **Journal entry worksheet (Entry 2):**
- Record the reimbursement of the petty cash fund.
- Date: Sept 30
- General Journal: [Blank rows for debit and credit entries]
- Note: Enter debits before credits.
- Buttons: Record entry, Clear entry, View general journal
- **Journal entry worksheet (Entry 3):**
- Record the increase of the petty cash fund.
- Date: Oct 01
- General Journal: [Blank rows for debit and credit entries]
- Note: Enter debits before credits.
- Buttons: Record entry, Clear entry, View general journal](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc86fed57-cea3-419c-9236-d70c7d6d3cfb%2F93ae85aa-237a-4218-a4a3-2f4eb3ea5b6b%2Fwkm3veh_processed.png&w=3840&q=75)
Transcribed Image Text: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 following expenditures: transportation expenses, $41; 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 inventory.
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 to increase the fund to $490.
- **Journal entry worksheet (Entry 1):**
- Prepare the journal entry to establish the petty cash fund.
- Date: Sept 09
- General Journal: [Blank rows for debit and credit entries]
- Notes: Enter debits before credits.
- Buttons: Record entry, Clear entry, View general journal
- **Journal entry worksheet (Entry 2):**
- Record the reimbursement of the petty cash fund.
- Date: Sept 30
- General Journal: [Blank rows for debit and credit entries]
- Note: Enter debits before credits.
- Buttons: Record entry, Clear entry, View general journal
- **Journal entry worksheet (Entry 3):**
- Record the increase of the petty cash fund.
- Date: Oct 01
- General Journal: [Blank rows for debit and credit entries]
- Note: Enter debits before credits.
- Buttons: Record entry, Clear entry, View general journal
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