A petty cash fund of $250 was set up by Snodgrass Ltd on 1 August by drawing
Question:
A petty cash fund of $250 was set up by Snodgrass Ltd on 1 August by drawing cheque no. 232. Transactions relating to petty cash in August were as follows:
Prepare journal entries to record the transactions during August.
Transcribed Image Text:
Date Aug 1 3 4 ¹I 10 15 19 24 25 26 31 Voucher no. 53 54 55 56 57 59 60 61 62 63 64 65 Amount $ 250.00 25.00 5.00 19.00 7.50 3.00 24.00 5.00 28.00 15.00 22.50 110.00 7.00 Details Establishment of fund (chq. no. 232) Staff tea supplies Fares Taxi Fares Postage Taxi Reimbursement of fund (chq. no. 241) Fares Taxi Donation to charity Stationery supplies Entertaining clients Fares Reimbursement of fund (chq. no. 244)
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August 1 Debit Petty Cash 25000 Credit Cash 25000 This entry records the establishment of the petty ...View the full answer
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Related Book For
Financial Accounting An Integrated Approach
ISBN: 9780170411028
7th Edition
Authors: Ken Trotman, Elizabeth Carson
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