Question: Hello! Can you help me with these?? This is the requirement: fProblem 1-5 (ACP) Zealous Company established a petty cash fund. 1. Established a petty

Hello! Can you help me with these??

This is the requirement:

Hello! Can you help me with these??This is the requirement: \fProblem 1-5(ACP) Zealous Company established a petty cash fund. 1. Established a petty

\fProblem 1-5 (ACP) Zealous Company established a petty cash fund. 1. Established a petty cash fund of P10,000 on January 2. 2. Petty cash expenses - January 2-31 are: Postage 1,500 Supplies 5,500 Transportation 1,200 Miscellaneous expense 800 3. The fund is replenished on February 1 and increased by P5,000. Required: Prepare journal entries to record the transactions under the fluctuating fund system and imprest fund system. Problem 1-6 (ACP) Zenith Company provided the following chronological transactions in relation to petty cash: 1. The entity established a petty cash fund of P10,000. 2. Petty cash disbursements were: Postage 1,500 Supplies 3,000 3. Petty cash disbursements were: Transportation 1,000 Accounts payable 3,500 4. Issued check for an amount to replenish the fund and bring the balance of the petty cash to P20,000. Required: Prepare journal entries to record the transactions under fluctuating fund system and imprest fund system. 22

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!