Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How do i set this up on the journal? Service World maintains a petty cash fund. The und custod CRUNCI T UR a The fund

image text in transcribed
How do i set this up on the journal?
Service World maintains a petty cash fund. The und custod CRUNCI T UR a The fund was established when a check for $315 was cashed and deposited into a locked cash box b. An employee submitted a receipt for a customer delivery costing $23 and was reimbursed in full from petty cash. Another employee submitted a receipt for $63 for locksmith repairs to the office door and was reimbursed in full from petty cash. d. An employee submitted a receipt for newspaper advertising that cost the company $53. She was given $53 from the petty cash box e. The petty cash custodian received and cashed a check that fully replenished the petty cash fund. An employee submitted a receipt for $38 for supplies and was reimbursed in full from petty cash. 9. An employee submitted a receipt for $68 for filling up his personal vehicle. He was not reimbursed because it would violate company policy h At the end of the month, a check was given to the petty cash custodian to not only replenish the petty cash fund but also increase the total fund to $435. Required: 1. Prepare any required journal entries (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 The fund was established when a check for $315 was cashed and deposited into a locked cash box. Record the transaction. Note: Enter debits before credits Transaction General Journal Debit Credit

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

Internal Quality Auditing

Authors: Denis Pronovost

1st Edition

0873894766, 9780873894760

More Books

Students also viewed these Accounting questions

Question

How does pricing affect a small firms image?

Answered: 1 week ago

Question

4. Devise an interview strategy from the interviewers point of view

Answered: 1 week ago