Name 1 FINAL I.F. REVIEW Petty Cash-BOOK CO. Date On 3/1 Book Co. established a $150 petty cash fund and assigns Paige Nine as the petty cashier. 2 On 3/31 the end of accounting period, the fund balance count reveals $19.00 cash left. The following receipts are included with the remaining cash: Receipt 1 Delivery expense 29.00 Receipt 2 Transportation In 18.00 Receipt 3 Office supplies 32.00 A Receipt 4 Meal 41.00 3 41 On 4/1, it seems the original petty cash fund balance is too low. Thus, a request is made to increase the petty cash account to $200. On 6/1 due to competition from Amazon.com, Book Co. decides to eliminate the Petty Cash account and the petty cashier. BOOK ALL JOURNAL ENTRIES NECESSARY TO RECORD THESE PETTY CASH ACTIVITIES. I Name 1 ACC 124 PRINCIPLES OF ACCOUNTING I FINAL I.F. REVIEW Petty Cash-BOOK CO. Date On 3/1 Book Co. established a $150 petty cash fund and assigns Paige Nine as the petty cashier. 2 On 3/31 the end of accounting period, the fund balance count reveals $19.00 cash left. The following receipts are included with the remaining cash: Receipt 1 Receipt 2 Delivery expense Transportation In, 29.00 18.00 Receipt 3 Receipt 4 Office supplies 32.00 Meal 41.00 3 4 On 4/1, it seems the original petty cash fund balance is too low. Thus, a request is made to increase the petty cash account to $200. On 6/1 due to competition from Amazon.com, Book Co. decides to eliminate the Petty Cash account and the petty cashier. BOOK ALL JOURNAL ENTRIES NECESSARY TO RECORD THESE PETTY CASH ACTIVITIES. 1 Cash-Petty Cash 150.00 150.00 Cash Establish petty cash account 2 Delivery expense Total receipts=120 29.00 18.00 Freight In expense 32.00 Office supplies expense Meal expense 41.00 Cash 150-19 131.00 Over/short 150-120 30-19-11 var 11.00 Record petty cash receipts and replenish fund Name FINAL IF. REVIEW Petty Cash-BOOK CO. Date, 2 2 On 3/1 Book Co. established a $150 petty cash fund and assigns Paige Nine as the petty cashier. On 3/31 the end of accounting period, the fund balance count reveals $19.00 cash left. The following receipts are included with the remaining cash: Receipt 1 Delivery expense 29.00 Receipt 2 Transportation In 18.00 Receipt 3 Office supplies 32.00 Receipt 4 Meal 41.00 B 4 On 4/1, it seems the original petty cash fund balance is too low. Thus, a request is made to increase the petty cash account to $200. On 6/1 due to competition from Amazon.com, Book Co. decides to eliminate the Petty Cash account and the petty cashier. BOOK ALL JOURNAL ENTRIES NECESSARY TO RECORD THESE PETTY CASH ACTIVITIES 1 Cash-Petty Cash Cash 150.00 150.00 Establish petty cash account 2 Delivery expense Total receipts 120 29.00 Freight in expense 18.00 Office supplies experbe 32.00 Meal expense 41.00 Cash 150-19 131.00 Over/short 150-120 30-19-11 var 11.00 Record petty cash receipts and replenish fund 3 Cash-Petty Cash 50.00 Cash 50.00 Increase petty cash balance to 200 4 Cash 200.00 Cash-Petty Cash Eliminate petty cash account 200.00 531.00 531.00