Kiona 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 $300.00 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 $88.00 for janitorial services.
				b. Paid $53.68 for miscellaneous expenses.
				c. Paid postage expenses of $53.50.
				d. Paid $47.15 to Facebook for advertising expense.
				e. Counted $62.15 remaining in the petty cash box.
May		16		Prepared a company check for $200.00 to increase the fund to $500.00.
May		31		The petty cashier reports that $288.20 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 $147.36.
				g. Reimbursed the office manager for business mileage, $23.50.
				h. Paid $34.75 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 $100.00, leaving a total of $400.00.

NOTE: I HAVE BOTH INCOME DECREASE BAD FOR SOME REASSON.

Requirement General Journal General Ledger Trial Balance Impact on Income Indicate the impact each transaction had on net income. Decreases to net income should be indicated with a minus sign. Dates: May 01 to: May 31 Transaction Impact transaction has on income: Amount of increase (decrease) Net income was unchanged May 1) Prepared a company check for $300 to establish the petty cash fund. May 15) Prepared a company check to replenish the fund for the following expenditures made since May 1: $88 for janitorial services, $53.68 for miscellaneous expenses, postage expenses of $53.50, $47.15 to Facebook for advertising expense. Counted $62.15 remaining in the petty cash box. May 16 Prepared a company check for $200 to increase the fund to $500. Net income decreased by: (304.48) Net income was unchanged May 31 The petty cashier reports that $288.20 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures Net income decreased by: made since May 15: postage expenses of $147.36, business mileage, $23.50, $34.75 to deliver merchandise to a customer, terms FOB destination. (205.61) May 31 The company decides that the May 16 increase in the fund was too large. It reduces the Net income was unchanged fund by $100, leaving a total of $400. In total, net income increased (decreased) by: $ (510.09)