Kiona Company set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the company's fiscal year) May 1 Prepared a conpany check for \$409 to establish the petty cash fund. May is Prepared a company check to replenish the fund for the following expenditures made since May 1. May 15 e. Paid \$124.se for janitorial expenses. May 15 b. Paid \$101. ss for miscellaneous expenses. May 15 c. Pald postage expenses of $69.60. May 15 d. Paid $91.44 to Facebook for advertising expense, May is e. Counted $30.68 remaining in the petty cashbox. May 16 Prepared a company check for $200 to increase the fund to $600. May 31 The petty cashier reports that $411,19 cash resains in the fund, A company check is drawn to replenish the fund for the following expenditures made since May 15. May 31f. Paid postoge expenses of $64,48. May 31g. Reinbursed the office nanoger for mileage expense, \$51.33. May 31 h. Paid $53.69 in delivery expense for products to a customer, terns ros destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $59,1 leaving a total of $559. Required: Prepare journal entries to establish the fund on May 1, to replenish it on May 15 and on May 31, and to reflect any increase or decrease in the fund balance on May 16 and May 31. Note: Round your onswers to 2 decimal places. Tnirnal antrw wertehoot Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $85,400. The machine's useful life is estimated at 20 years, or 402,000 units of product, with a $5,000 salvage value, During its second year, the machine produces 34,200 units of product. etermine the machine's second-year depreciation and year end book value under the straight-line method. Kiona Company set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the company's fiscal year) May 1 Prepared a conpany check for \$409 to establish the petty cash fund. May is Prepared a company check to replenish the fund for the following expenditures made since May 1. May 15 e. Paid \$124.se for janitorial expenses. May 15 b. Paid \$101. ss for miscellaneous expenses. May 15 c. Pald postage expenses of $69.60. May 15 d. Paid $91.44 to Facebook for advertising expense, May is e. Counted $30.68 remaining in the petty cashbox. May 16 Prepared a company check for $200 to increase the fund to $600. May 31 The petty cashier reports that $411,19 cash resains in the fund, A company check is drawn to replenish the fund for the following expenditures made since May 15. May 31f. Paid postoge expenses of $64,48. May 31g. Reinbursed the office nanoger for mileage expense, \$51.33. May 31 h. Paid $53.69 in delivery expense for products to a customer, terns ros destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $59,1 leaving a total of $559. Required: Prepare journal entries to establish the fund on May 1, to replenish it on May 15 and on May 31, and to reflect any increase or decrease in the fund balance on May 16 and May 31. Note: Round your onswers to 2 decimal places. Tnirnal antrw wertehoot Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $85,400. The machine's useful life is estimated at 20 years, or 402,000 units of product, with a $5,000 salvage value, During its second year, the machine produces 34,200 units of product. etermine the machine's second-year depreciation and year end book value under the straight-line method
