GENERAL GOURNAL

IMPACT ON INCOME

Walker Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May May 1 Prepared a company check for $350 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. a. Paid $120 for janitorial services. b. Paid $90 for miscellaneous expenses. c. Paid postage expenses of $60. d. Paid $3e to Facebook for advertising expense. e. Counted $64 remaining in the petty cash box. May 16 Prepared a company check for $150 to increase the fund to $500. May 31 The petty cashier reports that $200 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. f. Paid postage expenses of $169. 8. Reimbursed the office manager for business mileage, $85. h. Paid $28 to deliver merchandise to a customer, terns FOB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $120, leaving a total of $380. 1 Prepared a company check for $350 to establish the petty cash fund. 2 Prepared a company check to replenish the fund for the following expenditures made since May 1: $120 for janitorial services; $90 for miscellaneous expenses; postage expenses of $60; and $30 to Facebook for advertising expense. Counted $64 remaining in the petty cash box. 3 Prepared a company check for $150 to increase the fund to $500. 4 The petty cashier reports that $200 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15: postage re 4 The petty cashier reports that $200 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15: postage expenses of $169, reimbursed the office manager for business mileage, $85; and $28 to deliver merchandise to a customer, terms FOB destination. 5 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $120, leaving a total of $380. Dates: May 01 to: May 31 Walker Company Trial Balance May 31, 2019 Account Title Debit Credit $ 6.395 5.500 2,700 16,000 500 Cash Inventory Walker, Capital Service revenue Janitorial expenses Insurance expense Rent expense Postage expenses Miscellaneous expenses Mileage expense Advertising expense Delivery expense Total 1,560 3.000 200 750 80 540 175 18.700 $ $ 18.700 BE Next Transaction Impact transaction has on income: Amount of increase (decrease) May 1) Prepared a company check for $350 to establish the petty cash fund. May 15) Prepared a company check to replenish the fund for the following expenditures made since May 1: $120 for janitorial services, $90 for miscellaneous expenses, postage expenses of $60, $30 to Facebook for advertising expense. Counted $64 remaining in the petty cash box May 16 Prepared a company check for $150 to increase the fund to $500 May 31 The petty cashier reports that $200 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. postage expenses of $169, business mileage, $85, $28 to deliver merchandise to a customer, terms FOB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $120, leaving a total of $380. In total, net income increased (decreased) by: Moy