Petty Cash Fund Listeral Company office has a petty cash fund with $500 in a safety...
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Petty Cash Fund Listeral Company office has a petty cash fund with $500 in a safety deposit box located in a safe place in the supplies closet. Every two weeks Jamie tops up the petty cash fund and prepares the petty cash report and enters the journal entry. For the last two weeks, Jamie finds the following receipts: Receipt #1 Receipt #2 Receipt #3 $40.00 Receipt #4 $25.00 Receipt #5 $50.00 The remaining balance of the petty cash fund at the end of the two weeks is $362.00. Taxi expense Lunch expense Office Supplies expense Cleaning supplies expense Owner withdrawals $15.00 $8.00 10m a Prepare a petty cash report for Oct 31 for Listeral Company. 5m b i-Show the journal entry for starting the petty cash fund, ii-Show the journal entry for showing the replenishment of the petty cash fund. Petty Cash Fund Listeral Company office has a petty cash fund with $500 in a safety deposit box located in a safe place in the supplies closet. Every two weeks Jamie tops up the petty cash fund and prepares the petty cash report and enters the journal entry. For the last two weeks, Jamie finds the following receipts: Receipt #1 Receipt #2 Receipt #3 $40.00 Receipt #4 $25.00 Receipt #5 $50.00 The remaining balance of the petty cash fund at the end of the two weeks is $362.00. Taxi expense Lunch expense Office Supplies expense Cleaning supplies expense Owner withdrawals $15.00 $8.00 10m a Prepare a petty cash report for Oct 31 for Listeral Company. 5m b i-Show the journal entry for starting the petty cash fund, ii-Show the journal entry for showing the replenishment of the petty cash fund.
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The petty cash report for Oct31 may be prepared as below To petty cash OB 500 C... View the full answer
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
Posted Date:
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