Question: DO IT! 8.2b (LO 2) Wilkinson Company established a $100 petty cash fund on August 1. On August 31, the fund had $7 cash remaining

DO IT! 8.2b (LO 2) Wilkinson Company established a $100 petty cash fund on August 1. On August 31, the fund had $7 cash remaining and petty cash receipts for postage $31, office supplies $42, and miscellaneous expense $16. Prepare journal entries to establish the fund on August 1 and replenish the fund on August 31.

Make journal entries for petty cash fund.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

uke engineering produces batteries for a major car-maker . Juke'smonthly cost structured is shown in the table below . Assume that the firm's average variable costs of production remain constant at...

a. Luo Yang is concerned with control over mail receipts at Yangs Tools. All mail receipts are opened by Rong Hu. Rong sends the checks to the accounting department, where they are stamped For...

Please help with this problem Do It! Review 8-02b Wilkinson Company established a $100 petty cash fund on August 1. On August 31, the fund had $7 cash remaining and petty cash receipts for postage...

Wilkinson Company established a $100 petty cash fund on August 1. On August 31, the fund had $7 cash remaining and petty cash receipts for postage $31, office supplies $42, and miscellaneous expense...

Wilkinson Company established a $100 petty cash fund on August 1. On August 31, the fund had $11 cash remaining and petty cash receipts for postage $31, office supplies $42, and miscellaneous expense...

View Policies Current Attempt in Progress Wilkinson Company established a $100 petty cash fund on August 1. On August 31, the fund had $11 cash remaining and petty cash receipts for postage $31....

Wilkinson Company established a $105 petty cash fund on August 1. On August 31, the fund had $5 cash remaining and petty cash receipts for postage $34, office supplies $26, and miscellaneous expense...

PRINTER VERSOON -BACK RCES Do It Review 7-2b Wilkinson Company established a $105 petty cash fund on August 1.On August 31, the fund had $11 cash remaining and petty cash receipts for postage...

Do It! Review 7-3 Wilkinson Company established a $120 petty cash fund on August 1. On August 31, the fund had $12 cash remaining and petty cash receipts for postage $32, office supplies $32, and...

Wilkinson Company established a $120 petty cash fund on August 1. On August 31, the fund had $15 cash remaining and petty cash receipts for postage $34, office supplies $27 (use supplies account),...

Explain affective events theory. What are its implications for managing emotions?

There are two types of professional wrestlers: baby faces (good guys) and heels (bad guys). Between any pair of professional wrestlers, there may or may not be a rivalry. Suppose we have n...

1. State which of the following pairs of vectors are parallel. -2 -8 (a) 1 4 9 18 (b) 21 (c) -3 -8

sive Problem Saved Help Save Required information [The following information applies to the questions displayed below.) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the...