Question
Haig company maintains a petty cash fund for small expenditures. The following transactions occured over a 2-month period. July 1- Established petty cash fund by
Haig company maintains a petty cash fund for small expenditures. The following transactions occured over a 2-month period.
July 1- Established petty cash fund by writting a check on China Bank for $100
July 15-- Replenished the petty cash fund by writting a check for $96.90. On this date the fund consisted of $3.10 in cash and the following petty cash receipts freight-out $51.00, postage expense $20.50, entertainment expense $23.10 and miscellaneous expense $6.10
July 31-- Replenished the petty cash fund by writting a check for $95.90. At this date the fund consisted of $4.10 in cash and the following petty cash receipts freight-out $43.50, charitable contributions expense $20.00, postage expense $20.10 and miscellaneous expense $12.30
Aug 15- Replenished the petty cash fund by wirtting a check for $98.00. On this date the fund consisted of $2.00 in cahs and the following petty cash receipts freight-out $40.20 enterainment expense $21.00 postage expense $16.00 and miscellaneous expense $19.80
Aug 16- Increased the amount of petty cash fund to $150 by writting a check for $50
Aug 31st- Replenished the amount of the petty cash fun to $150 by writting a check for $50 fund consisted of $13 in cash and the following petty cash recipts: freight-out $74.00 entertainment expense $43.20 and postage expense $17.70
Instructions
post to the petty cash account
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