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Accounting Help P8-2B, A-C Copy and paste as word, please!! Saves me time. PLEASE USE THE METHOD BELOW FOR THIS PROBLEM PROBLEM 8-2A (a) July
Accounting Help
P8-2B, A-C
Copy and paste as word, please!! Saves me time.
PLEASE USE THE METHOD BELOW FOR THIS PROBLEM
PROBLEM 8-2A (a) July 1 Petty Cash 200.00 Cash 200.00 15 Freight-out 94.00 Postage Expense 42.40 Entertainment Expense 46.60 Miscellaneous Expense 11.20 Cash Over and Short 1.80 Cash 196.00 31 Expense Freight-out 82.10 Charitable Contribution 45.00 Postage Expense 25.50 Miscellaneous Expense 39.40 Cash 192.00 Aug. 15 Freight-out 75.60 Entertainment Expense 43.00 Postage Expense 33.00 Miscellaneous Expense 37.00 Cash Over and Short 1.60 Cash 187.00 16 Petty Cash Cash 100.00 100.00 31 140.00 Postage Expense Travel Expense 95.60 Freight-out 47.10 Cash Over and Short Cash 284.00 1.30 (b) Petty Cash Date Explanation RefDebiCreditBalance July 1 CP 200 200 Aug. 1 CP 100 300 6 PROBLEM 8-2A (Continued) (c) The internal control features of a petty cash fund include: (1) A custodian is responsible for the fund. (2) A prenumbered petty cash receipt signed by the custodian and the individual receiving payment is required for each payment from the fund. (3) The treasurer's office examines all payments and stamps supporting documents to indicate they were paid when the fund is replenished. (4) Surprise counts can be made at any time to determine whether the fund is intactStep by Step Solution
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