Question
The petty cash fund of $200 for Tomkins Company appeared as follows on December 31, 2014 Cash $50.60 Petty Cash Vouchers Freight-in $58.40 Postage 40.00
The petty cash fund of $200 for Tomkins Company appeared as follows on December 31, 2014
Cash $50.60
Petty Cash Vouchers
Freight-in $58.40
Postage 40.00
Balloons for a special occasion 20.00
Meals 25.00
1. Prepare the general journal entry to replenish the fund.
2. On December 31, the office manager gives instructions to increase the petty cash fund by $50. Make the appropriate journal entry.
Step by Step Solution
3.39 Rating (152 Votes )
There are 3 Steps involved in it
Step: 1
Account titles explanation Debit Credit 1 Freight p...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
