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PETTY CASH 1. An imprest petty cash fund of $400 was established for minor disbursements. At the end of the month, the fund included
PETTY CASH 1. An imprest petty cash fund of $400 was established for minor disbursements. At the end of the month, the fund included petty cash tickets for the purchase of $185 in supplies, $41 for postage, $86 for fuel and a delivery charge of $65 and cash of $23 (left in PC). How much cash is required to replenish the fund? A) $23 B) $226 C) $312 D) $377 2. An imprest petty cash fund of $400 was established for minor disbursements. At the end of the month the fund included petty cash tickets for the purchase of $185 in supplies, $41 for postage, $86 for fuel and a delivery charge of $65. How much cash is left in the fund if there is no shortage or overage? A) $ 23 B) $ 88 C) $174 D) $377 3. An imprest petty cash fund of $400 was established for minor disbursements. At the end of the month the fund included petty cash tickets for the purchase of $185 in supplies, $41 for postage, $86 for fuel and a delivery charge of $65. If there is $13 left in the fund, how much cash is required to replenish the fund? A) $377 B) $236 C) $387 D) $367 4. On October 1, 2016, Ellis Company establishes an imprest petty cash fund by issuing a check for $150 to Pat Harmon, the custodian of the petty cash fund. On October 31, 2016, Pat Harmon submitted the following paid petty cash receipts for replenishment of the petty cash fund when there is $12 cash in the fund: Freight-In $25 Supplies Expense 32 Entertainment of Clients 55 Postage Expense 24 Total receipt 136 Instructions Prepare the journal entries required to establish the petty cash fund on October 1 and the replenishment of the fund on October 31. 5. On November 1, 2009, Jones Company established a $400 petty cash fund. At the end of November, the petty cash fund contained the following petty cash tickets. $73.50 Postage 87.55 Office supplies 90.95 Miscellaneous items
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