Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer both parts The following information applies to the questions displayed below Service World maintains a petty cash fund. The fund custodian encountered the

please answer both parts image text in transcribed
image text in transcribed
The following information applies to the questions displayed below Service World maintains a petty cash fund. The fund custodian encountered the following events The fund was established when a check for $335 was cashed and deposited into a locked cash box. b An employee submitted a receipt for a customer delivery costing $27 and was reimbursed in full from petty cash. Another employee submitted a receipt for $67 for locksmith repairs to the office door and was reimbursed in full from petty cash d An employee submitted a receipt for newspaper advertising that cost the company $57. She was given $57 from the petty cash box. e The petty cash custodian received and cashed a check that fully An employee submitted a receipt for $42 for supplies and was 9 An employee submitted a receipt for $72 for filling up his replenished the petty cash fund. reimbursed in full from petty cash personal vehicle. He was not reimbursed because it would violate company policy. At the end of the month, a check was given to the petty cash custodian to not only replenish the petty cash fund but also increase the total fund to $455 7.00 points Required: 1 Prepare any required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet The fund was established when a check for $335 was cashed and deposited nto a locked cash box, Record the transaction. Note: Enber debits before credits

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

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

9th Edition

978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475

More Books

Students also viewed these Accounting questions