The petty cash fund of the Wee Ones Ageney was established on May 1, 2017, at...
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The petty cash fund of the Wee Ones Ageney was established on May 1, 2017, at 575. At the end of the month, the fund contained $12.74 and had the following reccipts: film rentals, S19.40; refreshments for meetinges, s22.81 (both expenditures to be classified as Entenainment Expense); postage, S6.95: and printing. S13.10 a) Prepare the jounmal entry to record the establishment of the fund. May 1| Petty Cash 75.00 Cash 75.00 To record establishment of fund. b) Prepare a summary of the petty cash payments Wee Ones Agency Petty Cash Payments Report May 1-31, 2017: Receipts: Entertainment expense Film rentals $19.40 Refreshments for meeting Postage expense Printing expense Total receipts Fund total Less: Cash remaining Equals: Cash required to replenish petty cash Cash overi(short). 22.81 $42.21 6.95 13,10 $62.26 $75.00 12.74 62.26 DR CR May 31 Entertainment Expense Postage Expense.. Printing Expense. Cash 42.21 6.95 13.10 62.26 To reimburse the fund. The petty cash fund of the Wee Ones Ageney was established on May 1, 2017, at 575. At the end of the month, the fund contained $12.74 and had the following reccipts: film rentals, S19.40; refreshments for meetinges, s22.81 (both expenditures to be classified as Entenainment Expense); postage, S6.95: and printing. S13.10 a) Prepare the jounmal entry to record the establishment of the fund. May 1| Petty Cash 75.00 Cash 75.00 To record establishment of fund. b) Prepare a summary of the petty cash payments Wee Ones Agency Petty Cash Payments Report May 1-31, 2017: Receipts: Entertainment expense Film rentals $19.40 Refreshments for meeting Postage expense Printing expense Total receipts Fund total Less: Cash remaining Equals: Cash required to replenish petty cash Cash overi(short). 22.81 $42.21 6.95 13,10 $62.26 $75.00 12.74 62.26 DR CR May 31 Entertainment Expense Postage Expense.. Printing Expense. Cash 42.21 6.95 13.10 62.26 To reimburse the fund.
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1 Date Account Titles Debit Credit May01 Petty Cash Fund 7500 Cash 7500 2 Su... View the full answer
Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
Posted Date:
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