Chapter 06 Practice Problems (Mandatory Homework) 1 ! Required information Saved 4 Part 1 of 2 Exercise 6-14A Effect of petty cash events on the financial statements LO 6-4 [The following information applies to the questions displayed below.] Fresh Foods established a petty cash fund of $325 on January 2. On January 31, the fund contained cash of $124.85 and vouchers for the following cash payments: points eBook Hint Print Maintenance expense Office supplies Transportation expense $77.50 86.40 33.25 The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. Exercise 6-14A Part a References Required a. Show each of the three events in a horizontal statements model like the following one. (In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or a financing activity (FA). Use NA to indicate that an account was not affected by the event. Enter any decreases to account balances with a minus sign. Round your final answers to 2 decimal places.) Stockholders' FRESH FOODS Statements Model Assets Equity Retained No Cash Petty Cash Earnings - 23 Revenue - Expense Net Income Cash Flow Chapter 06 Practice Problems (Mandatory Homework) 2 Part 2 of 2 4 points eBook + Hint Saved Fresh Foods established a petty cash fund of $325 on January 2. On January 31, the fund contained cash of $124.85 and vouchers for the following cash payments: Maintenance expense Office supplies Transportation expense $77.50 86.40 33.25 The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. Exercise 6-14A Part b b. Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal places.) View transaction list Print References Journal entry worksheet A B C Record entry for petty cash fund. Note: Enter debits before credits. Event 1 General Journal Debit Credit >