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Kiona Company set up a petty cash fund for payments of small amounts. The following tersacions in the occurred in May the last month of
Kiona Company set up a petty cash fund for payments of small amounts. The following tersacions in the occurred in May the last month of the company's fiscal year) May 1 Prepared a company aneck tox $300 tot blish the petty cash tums. May 15 Prepared a company check to replenish the fund for the tollowing experince May 15 a. Paid $93.50 for Janitorial expenses. May 15 b. Paid 576.41 Lor miscellaneous expenses. May 15 c. Paid postage expenses of $52.20. May 15 d. Paid 168.58 to Facebook for advertising expense. May 150. counted $23.01 remaining in the party Cox. May 16 Prepared a company check for $200 to increase the fund te $500. May 31 The petty cashier reports that $354.32 cash remains in the tuna company check is well for the following expenditures made since May 15. May 31 1. Paid postage expenses of $53.73. May 31 g. Reimbursed the office manager for mileage expense, $42.75. May 31 h. Paid $44.17 in delivery expense tor products to stoner, terma TOB destination May 31 The company decides that the May 16 Increase in the tund was too latge. it to the towy w total of $450. Required: Prepare journal entries to establish the fund on May 1, to replenish on May 15 and on May 31, and to reflect an increase or de in the fund balance on May 16 and May 31. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet
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