Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Journal entry worksheet Prepared a company check to replenish the fund for the following expenditures made since May 1: $137 for janitorial services; $103 for

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Journal entry worksheet Prepared a company check to replenish the fund for the following expenditures made since May 1: $137 for janitorial services; $103 for miscellaneous expenses; postage expenses of $68; and $34 to Facebook for advertising expense. Counted $66 remaining in the petty cash box. Note: Enter debits before credits. Journal entry worksheet The petty cashier reports that $240 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 $210, reimbursed the office manager for business mileage, $105; and $35 to deliver merchandise to a customer, terms Note: Enter debits before credits. Indicate the impact each transaction had on net income. Note: Decreases to net income should be indicated with a minus sign. Turner Company 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 $400 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made 5 ince May 1. May 15 a. Paid $137 for janitorial services. May 15 b. Paid $103 for misceltaneous expenses. May 15 c. Paid postage expenses of $68. May 15d. Paid $34 to Facebook for advertising expense. May is e. Counted $66 remaining in the petty cash box. May 16 Prepared a company check for $200 to increase the fund to $600. May 31 The petty cashier reports that $240 cash resains in the fund. A conpany check is drawn to replenish the fund for the following expenditures made since May is. May 31 f. Paid postage expenses of $210. May 31 g. Reinbursed the office manager for business mileage, $105. May 31 h. Paid $35 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 $160, teaving a total of $440. General Journal tab-Prepare the necessary journal entries. General Ledger and Trial bafance tabs -Review the general ledger and trial balance tabs. Impact on Net Income tab - Calculate the impact each entry had on net income, if any. Journal entry worksheet 2 Prepared a company check for $400 to establish the petty cash fund. Note: Enter debits before credits. Journal entry worksheet The company decides that the May 16 increase in the fund was too large. It reduces the fund by $160, leaving a total of $440. Note: Enter debits before credits. Journal entry worksheet Prepared a company check for $200 to increase the fund to $600. Note: Enter debits before credits

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

More Books

Students also viewed these Accounting questions

Question

What is topology? Explain with examples

Answered: 1 week ago

Question

What is linear transformation? Define with example

Answered: 1 week ago