Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help! also for number three of the journal entry it says: Record the increase of the petty cash fund Waupaca Company establishes a $350

please help!
image text in transcribed
also for number three of the journal entry it says: "Record the increase of the petty cash fund"
Waupaca Company establishes a $350 petty cash fund on September 9. on September 30, the fund shows $66 in cash along with receipts for the following expenditures transportation-in, 553, postage expenses. 568; and miscellaneous expenses, 5153. The petty cashier could not account for a $10 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare (1) the September 9 entry to establish the fund. (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $400. View transaction lit Journal entry worksheet > Record the reimbursement of the petty cash fund. Not Enter det before Credit Date September 30 Debit + Deneral Journal Merchandise inventory Postage expense Miscellaneous expenses Clash over and short Casti Record entry Clear View generala

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

Authors: Carl S. Warren, James M. Reeve, Philip E. Fess

20th Edition

0324025424, 978-0324025422

More Books

Students also viewed these Accounting questions

Question

What forces are driving the added-value movement in HRM?

Answered: 1 week ago