Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 12 Jan 2018 My Price 5.00

Waupaca Company

Waupaca Company establishes a $300 petty cash fund on September 9. On September 30, the fund shows $81 in cash along with receipts for the following expenditures: transportation-in, $33; postage expenses, $112; and miscellaneous expenses, $68. The petty cashier could not account for a $6 shortage in the fund. Gannon uses the perpetual system in accounting for merchandise inventory. Prepare journal entries for the following 1. The September 9 entry to establish the fund 2. The September 30 entry to both reimburse the fund. 3. An October 1 entry to increase the fund to $350.

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Jan 2018 08:01 PM My Price 5.00

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