Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Conway Designs established a $190 petty cash fund on October 1, 2023. Prepare the entry to replenish the fund at the end of each of

Conway Designs established a $190 petty cash fund on October 1, 2023. Prepare the entry to replenish the fund at the end of each of the following months of activity: a. The petty cash box contained $21 on October 31 along with receipts for $89 for cleaning, $23 for postage, and $42 for delivery expense. b. On November 30, the petty cash box contained only two receipts, for a $70 computer repair and a $88 entertainment expense. The petty cash custodian counted cash remaining of $41. c. The petty cash box contained $16 on December 31 plus receipts for $30 for gas expense, $98 for office supplies, and $46 for entertainment expense. In addition to replenishing the fund, it was increased by $90.
image text in transcribed
Conway Designs established a $190 petty cash fund on October 1, 2023. Prepare the entry to replenish the fund at the end of each of the following months of activity: 0. The petty cast box contained $21 on October 31 along with receipts for $89 for cleaning. $23 for postage, and $42 for delivery expense. b. On November 30 , the petty cash box contoined only two receipts, for o $70 computer repair and a $88 enterzainment expense The petsy cash custodian counted cosh remoining of \$41. c. The perty cash box contained $16 on December 31 plus receipts for $30 for gas expense, $98 for office supplies, and $46 for entertainment expense. In addition to replenishing the fund, it was increased by $90

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Evaluating The Effectiveness On Internal Audit Departments

Authors: W. Steve Albrecht, Keith R. Howe, Dennis R. Schueler, Kevin D. Stocks

1st Edition

089413177X, 978-0894131776

More Books

Students also viewed these Accounting questions