Answered step by step
Verified Expert Solution
Question
1 Approved Answer
During October, Hair Styles Pty Ltd experiences the following transactions in establishing a petty cash fund. Oct. 1 A petty cash fund is established
During October, Hair Styles Pty Ltd experiences the following transactions in establishing a petty cash fund. Oct. 1 A petty cash fund is established with a cheque for $127 issued to the petty cash custodian. Oct. 31 A count of the petty cash fund disclosed the following items: Currency (notes) Coins Expenditures receipts (vouchers): Office supplies Telephone and fax Postage Freight-out Oct. 31 A cheque was written to reimburse the fund and increase the fund to $254. $4.25 0.50 $37.00 20.40 54.60 8.30 Journalise the entries in October that pertain to the petty cash fund. (Enter all debit entries first, followed by all credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started