Maurice Tutor

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Category > Accounting Posted 23 Aug 2017 My Price 6.00

minor expenditures

petty Cash transactions

e9A. A small company maintains a petty cash fund for minor expenditures. In February and March 2014, the following transactions took place:

a.    The fund was established in the amount of $200.00 on Feb. 1 from the proceeds of check no. 2717.

b.    On Feb. 28, the petty cash fund had cash of $30.92 and the following receipts on hand: postage, $80.00; supplies, $49.88; delivery service, $24.80; and rubber stamp,

$14.40. Check no. 2748 was drawn to replenish the fund.

c.    On March 31, the petty cash fund had cash of $44.12 and these receipts on hand: postage,

$68.40; supplies, $65.68; and delivery service, $12.80. The petty cash custodian could not account for the shortage. Check no. 2897 was drawn to replenish the fund.

Prepare the journal entries necessary to record each transaction.

 

 

 

 

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 23 Aug 2017 10:08 PM My Price 6.00

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