7.4 Petty cash transactions (1) For the month of January, Cockatoo Corporation had the following transactions relating to the establishment of its petty cash fund: January 1 January 31 An imprest petty cash fund of $300 was set up. The petty cash safe contained $90 cash plus the following paid vouchers: postage $80; taxi fares $60; supplies $50; miscellaneous expense $20. Required: Prepare appropriate journal entries for the above information. 7.5 Petty cash transactions (2) A company establishes a $300 petty cash fund on August 3 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of August, the fund contains $40 in cash and the following receipts: $100 70 Delivery fees Faucet replacement Postage Flowers for the office 40 50 Required: Record the establishment of the petty cash fund on August 3, the expenditures of the fund, and replenishment on August 31. 7.7 Trading securities transactions (2) On March 1, 20x1, Jaguar Company purchased 5,000 shares of Tapir Corporation ordinary shares for $100,000 and classified them as trading securities. Thus the cost per share is $20. On December 31, 20x1, the market value of the shares was $12 per share. On December 31, 20x2, it was $23 per share. Required: Prepare the appropriate journal entries for the trading securities on December 31, 20x1 and December 31, 20x2