Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5/22/2020 Data Table Petty Cash Ticket No. Item Account Debited Amount 1 Delivery of programs Delivery Expense $ 15 to customers 2 Mail package 30

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

5/22/2020 Data Table Petty Cash Ticket No. Item Account Debited Amount 1 Delivery of programs Delivery Expense $ 15 to customers 2 Mail package 30 3 Newsletter 45 Postage Expense Printing Expense Miscellaneous Expense Office Supplies 4 Key to closet 55 5 Copier paper 80 5/22/2020 Requirements 1. Make the general journal entry to create the petty cash fund. Include an explanation. 2. Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $106. Include an explanation. 3. Assume that Lynn's Dance Studio decides to decrease the petty cash fund to $190. Make the general journal entry to record this decrease. Lynn's Dance Studio created a $350 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows: (Click the icon to view the petty cash tickets.) Read the requirements. Requirement 1. Make the general journal entry to create the petty cash fund. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Requirement 2. Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $106. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table. Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit crease the petty cash fund to $190. Make the general journal entry to record this decrease. (Record debits first, then, credits. Select the explanation on the last line of the journal Requiremel entry table.) To decrease the petty cash fund. To open the petty cash fund. Date To replenish the petty cash fund. Debit Credit Requirement 3. Assume that Lynn's Dance Studio decides to decrease the petty cash fund to $190. Make the general journal entry to record this decrease. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. 2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Explain all drawbacks of the application procedure.

Answered: 1 week ago

Question

Determine Leading or Lagging Power Factor in Python.

Answered: 1 week ago