Question

SCB Inc. had a balance of $400 in cash in its petty cash fund at the beginning of September. The following transactions took place in September:
a. On September 4, the custodian paid $43 out of petty cash for new stationery on which the company president’s name appeared prominently. This is considered supplies.
b. On September 11, the custodian paid $75 out of petty cash for maintenance manuals for some equipment. This is a maintenance expense.
c. On September 15, the custodian paid $33 out of petty cash for transportation-in.
d. On September 23, the custodian paid $46 out of petty cash to have documents delivered to the lawyers who were defending the firm in a lawsuit. This is considered an other expense.
e. On September 27, the custodian paid $123 out of petty cash to reimburse the president for costs he had incurred when bad weather prevented the company jet from landing to pick him up after a meeting. This is a travel expense.
f. On September 30, the custodian submitted receipts for the above expenditures and a check was drawn for the amount to replenish the fund.
Required:
Prepare any journal entries made by the corporation to record these transactions.


$1.99
Sales0
Views61
Comments0
  • CreatedSeptember 22, 2015
  • Files Included
Post your question
5000