On September 30, Hector’s petty cash fund of $ 100 is replenished. At the time, the cash box contained $ 18 cash and receipts for taxi fares ($ 40), delivery charges ($ 12), and office supplies ($ 30). Prepare the journal entry to record the replenishment of the fund.
Answer to relevant QuestionsFox Erasing has a system of internal control with the following procedures. Match the procedure to the corresponding internal control principle. Each situation below describes an internal control weakness in the cash payments process. Identify which of the five internal control principles is violated, explain the weakness, and then suggest a change that would improve ...Home Repair Corp. (HRC) operates a building maintenance and repair business. The business has three office employees— a sales manager, a materials/ crew manager, and an accountant. HRC’s cash payments system is described ...The August bank statement and cash T- account for Martha Company follow: No deposits were in transit and no checks were outstanding at the end of July. Required: 1. Identify and list the deposits in transit at the end of ...Service World maintains a petty cash fund. The fund custodian encountered the following events. a. The fund was established when a check for $ 300 was cashed and deposited into a locked cash box. b. An employee submitted a ...
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