Zeta Co. established a petty cash fund. The following transactions occurred in January 2023: Jan. 2 Established a petty cash fund for $250. 13 The following expenditures made since Jan.2; a) taxi $29.00 b) shipping $34.00 c) minor repairs $92.00 d) miscellaneous expenses $32.00 Counted $61.00 remaining in the petty cash safe. Increased the fund to $400. The cashier reported that $118.00 remained in the fund. The following expenditures made since Jan. 13; a) advertisement $86.00 red: 13 31 b) postage $91.00 c) delivery $108 31 Decreased the fund to $300. Prepare the journal entries and post to necessary ledger accounts.

Zeta Co. established a petty cash fund. The following transactions occurred in January 2023: Jan. 2 Established a petty cash fund for $250. 13 The following expenditures made since Jan.2; a) taxi $29.00 b) shipping $34.00 c) minor repairs $92.00 d) miscellaneous expenses $32.00 Counted $61.00 remaining in the petty cash safe. Increased the fund to $400. The cashier reported that $118.00 remained in the fund. The following expenditures made since Jan. 13; a) advertisement $86.00 red: 13 31 b) postage $91.00 c) delivery $108 31 Decreased the fund to $300. Prepare the journal entries and post to necessary ledger accounts.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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