Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Lab Saved Problem 7-3A Petty cash fund reimbursement and analysis of errors LO4 Capital Irrigation has only a General Journal in its accounting system and
Lab Saved Problem 7-3A Petty cash fund reimbursement and analysis of errors LO4 Capital Irrigation has only a General Journal in its accounting system and uses it to record all transa recently set up a petty cash fund to facilitate payments of small items. The following petty cash tran cashier as occurring during April 2020 Apr. Received a company cheque for $220 to establish the petty cash fund. 15 Received a company cheque to replenish the fund for the following expenditures made since to $290 3. Paid $59 for janitorial service: b. Purchased office supplies for $64. c. Purchased postage stamps for $18. de Paid $67 to The County Crier for an advertisement in the newspaper e. Discovered that $17 remained in the petty cash box: 30 petty cashier noted that $181 remained in the fund and decided that the April 15 Increa Therefore, a company cheque was issued to replenish the fund for the following expenditures reduce the fund to $250. Purchased office supplies for $66. B. Reimbursed office manager for business auto, $32. hPaid $11 courier charges to deliver merchandise to a customer, Prepare journal entries to record the establishment of the fund on April 1 and its replenishments on Apr View transaction list Journal entry worksheet 1 2 3 > Record to establish fund
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started