Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

parts 1, 2, and 4 are correct but part 3 isnt correct. What is wrong with my answers? a $220 petty cash fund on January

parts 1, 2, and 4 are correct but part 3 isnt correct. What is wrong with my answers? image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
a $220 petty cash fund on January 1. On January 8, the fund shows $117 In cash along with receipts for the entries to () establish the fund on January 1, (2) reimburse t on January 8, and (3) both the fund and increase it to $270 on January 8, assuming no entry in part 2. (Hint: Make two separate entries for part 3.) Journal entry worksheet etty cash Cash Clear entry 1of 3 Next > Journal entry worksheet 2 3 Prepare the journal entry to establish the Petty Cash fund Date General Journal Debit Credit Jan 01 etty cash Cash 220 Record entry Clear entry Prev 1013 Next> Journal entry worksheet 2 4 Record the reimbursement of the petty cash fund. Date General Journal ostage expense erchandise inventory elivery expense iscellaneous expenses Cash 42 14 16 31 Jan 08 103 View general journal Clear entry Record entry Prev 1 of 3 Next > 2 Record the reimbursement of the petty cash fund. es Note: Enter debits before credits. Dale General Journal Debit etty cash ostage expense erchandise inventory elivery expense iscellaneous expenses Cash Jan 08 42 14 16 31 153 View general journal Clear entry Record entry Prev 1013 Next > Journal entry worksheet 3 4 Record the increase of the petty cash fund Jan 08 etty cash Cash 50 50 Record entry Clear entry Prev 1 of 3 122 Next > & Answer Is not complete. Jan 01 Petty Cash 220 Jan 08Postage expense Merchandise inventory Delivery expense 31 103 Cash 3 Jan 08 Postage expense 14 Merchandise inventory Delivery expense Miscellaneous expenses Cash 50 Jan 08 Petty cash 50 Cash Prey 1 of 3 Next >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Guidelines For Laboratory Quality Auditing

Authors: Donald C. Singer, Ronald P. Upton

1st Edition

0824787846, 978-0824787844

More Books

Students also viewed these Accounting questions

Question

How does Method implement the marketing concept?

Answered: 1 week ago