Effects of Petty Cash Transactions Illustrate the effect on the accounts and financial statements of the following transactions. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Enter account decreases, cash outflows, and the income statement effects that decrease net income as negative amounts. a. Established a petty cash fund of $975. Financial Statement Effects Y Financial Statement Effects Assets + Statement of Cash Flows Assets Y + Balance Sheet b. The amount of cash in the petty cash fund is now $171. Replenished the fund, based on the following summary of petty cash receipts: office supplies, $463; miscellaneous selling expense, $146; miscellaneous administrative expense, $195. Statement of Cash Flows Liabilities Balance Sheet + Stockholders' Equity + Income Statement Liabilities + Stockholders' Equity Income Statement

Invos af Matty Cach Trarastions Finandal Stasement iftects t195. rianocial statemene rilects