Austin Company estabiished a petty cash fund by issuing a check for $300 and appointing 5 tove Mack as petty cash custodian. Mack. had vouchers for the following petty cash payments during the month: There was $21 of currency in the petfy cash box at the time it was repienished. The fout distinct accounting events alfecting the perty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees. (3) recognition of expenses (Note all expenses ate recorded in total as miscellaneous expense), and (4) repienishment of the fund. Assume the Company uses the traditional approach to petfy cash expense recognition and replenishment. Required: a. Show esch of the four events in a horizontat statements model. c. Identfy the events depicted in Requirement a as asset source (AS), asset uso (AU), asset exchange (AE), or cloims exchange (CE). Complete this quection by entering your answers in the tabs below. Show each of the four events in a honzenital statemenis modwi. (IA), finandind actwity (FA), of lewne the cell blank \& there is no efiact. Complete this question by entering your answers in the tabs below. Show each of the four events in a horizontal statements model. Note. Enter any decreases to actount balances with a minus sigo. For changes on the Statement of Cash Flons, indicate whether the item is an operating activity (OA), inveatiog activity (tA), financing activity (FA), or leave the cell blank if there is no effect Austin Company estabiished a petty cash fund by issuing a check for $300 and appointing Steve Mack as petty cash custodian. Mack had vouchers for the following petty cash payments during the month: There was $21 of currency in the petty cash box at the time it was replenished. The four distinct occounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, (3) recognition of expenses (Note. all expenses are recorded in total as miscellaneous expense), and (4) replenishment of the fund. Assume the Company uses the traditional approach to petty cash expense recognition and replenishment Required: a. Show each of the four events in a horizontal statements model. c. Identify the events depicted in Requitement a as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE) Complete this question by entering your answers in the tabs below. Identily the events depicted in Requirement a as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE) Nate: Select "NE" if there is no effect. Austin Company estabiished a petty cash fund by issuing a check for $300 and appointing 5 tove Mack as petty cash custodian. Mack. had vouchers for the following petty cash payments during the month: There was $21 of currency in the petfy cash box at the time it was repienished. The fout distinct accounting events alfecting the perty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees. (3) recognition of expenses (Note all expenses ate recorded in total as miscellaneous expense), and (4) repienishment of the fund. Assume the Company uses the traditional approach to petfy cash expense recognition and replenishment. Required: a. Show esch of the four events in a horizontat statements model. c. Identfy the events depicted in Requirement a as asset source (AS), asset uso (AU), asset exchange (AE), or cloims exchange (CE). Complete this quection by entering your answers in the tabs below. Show each of the four events in a honzenital statemenis modwi. (IA), finandind actwity (FA), of lewne the cell blank \& there is no efiact. Complete this question by entering your answers in the tabs below. Show each of the four events in a horizontal statements model. Note. Enter any decreases to actount balances with a minus sigo. For changes on the Statement of Cash Flons, indicate whether the item is an operating activity (OA), inveatiog activity (tA), financing activity (FA), or leave the cell blank if there is no effect Austin Company estabiished a petty cash fund by issuing a check for $300 and appointing Steve Mack as petty cash custodian. Mack had vouchers for the following petty cash payments during the month: There was $21 of currency in the petty cash box at the time it was replenished. The four distinct occounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, (3) recognition of expenses (Note. all expenses are recorded in total as miscellaneous expense), and (4) replenishment of the fund. Assume the Company uses the traditional approach to petty cash expense recognition and replenishment Required: a. Show each of the four events in a horizontal statements model. c. Identify the events depicted in Requitement a as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE) Complete this question by entering your answers in the tabs below. Identily the events depicted in Requirement a as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE) Nate: Select "NE" if there is no effect
