Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please, dont cutoff some of the answers. Thanks. QS 8-9 (Algo) Petty cash accounting LO P2 1. Brooks Agency set up a petty cash fund

please, dont cutoff some of the answers.
Thanks.
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
QS 8-9 (Algo) Petty cash accounting LO P2 1. Brooks Agency set up a petty cash fund for $220. At the end of the current period, the fund contained $155 and had the following receipts: entertainment, $42. postage, $13; and printing. $10. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. 2. Identify the two events from the following that cause a Petty Cash account to be credited in a journal entry, a Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record () establishment of the fund and (b) reimbursement of the fund at the end of the current period. View transaction list Journal entry worksheet 1 2 > Record the establishment of the petty cash fund. Note Enter debits before credits Transaction General Journal Debit Credit QS 8-9 (Algo) Petty cash accounting LO P2 1. Brooks Agency set up a petty cash fund for $220. At the end of the current period, the fund contained $155 and had the following receipts: entertainment, $42, postage. $13; and printing, $10. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period 2. Identify the two events from the following that cause a Petty Cash account to be credited in a journal entry. Complete this question by entering your answers in the tabs below. Required 1 Required 2 a Identify the two events from the following that cause a Petty Cash account to be credited in a Journal entry. Credit to Petty Cash? a. Fund amount is being reduced b. Fund amount is being increased c. Fund is being eliminated d. Fund is being established

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

Management Control Systems Performance Measurement Evaluation And Incentives

Authors: Kenneth Merchant, Wim Van Der Stede

4th Edition

1292110554, 978-1292110554

More Books

Students also viewed these Accounting questions

Question

What factors affect occupational accidents?

Answered: 1 week ago