On 1 August, Coby Ltd established a $200 petty cash fund. Cheque No.1004 was received by the
Question:
On 1 August, Coby Ltd established a $200 petty cash fund. Cheque No.1004 was received by the petty cash cashier and duly cashed. On 31 August, the petty cash box contained the following cash and expense vouchers:
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| Expense vouchers ( noGST) |
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| Voucher no. |
| Date | Purpose | Amount |
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| 06 | August | 7 | stationery | $ 70.00 |
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| 07 |
| 8 | Taxi | $ 35.00 |
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| 08 |
| 13 | Stamps | $ 27.50 |
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| 09 |
| 20 | Newspapers | $ 19.90 |
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Required:
1. Record the Petty Cash Advance of $200(including journal entry)
2. Record the petty cash vouchers into the petty cash book and reimburse the petty cash expenses (including journal entry Cheque No.1065 )
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby