Austin Company established a petty cash fund by issuing a check for $300 and appointing Steve Mack as petty cash custodianMack had vouchers for the following petty cash payments during the month

Stamps 62

Miscellaneous itens 20

Employee supper money 70

Taxi fare 50

Window washing service 75

There was $21 of currency in the petty cash box at the time it was replenished . The four distinct accounting events affecting the petty cash fund for the period were () 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 Requirement a as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE).

2 Kequatest A. Show och of the four events in a horizontal statements model. c. Identify the events depicted in Requlrement a as asset source (A5], asset use (AUY, asset exehange AEL or claims enchange iCE). Complete this quention by entering your annwers in the tabs below. Show cach of the tour events in a horitontal statements medel. Kole Enser any deoreaces to account balances with a minus sign. for changes on the statement et Cash fowi, inocate whether the item is an operating activity (ow) AtAy, frencing activity (tA), or leave the cel blank it there is no efinct