Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help me. 2 Problems Saved Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in
please help me. 2 Problems Saved Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for the following expenditures: postage. $74, transportation-in. $29, delivery expenses, $16; and miscellaneous expenses, $43. Palmona us the perpetual system in accounting for merchandise inventory Prepare Journal entries to (1) establish the fund on January 1 (2) reimburse it on January 8, and (3) both reimburse the fund and Increase it to $450 on January 8, assuming no entry in part 2. Hint Make two separate entries for part 3. View transaction list Journal entry worksheet V ere to search FI E A following expenditures: postage, $74; transportation-in, $29; delivery expenses, $16; and miscellaneous expens the perpetual system in accounting for merchandise inventory. Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburs increase it to $450 on January 8, assuming no entry in part 2. Hint Make two separate entries for part 3. View transaction list Journal entry worksheet 2 3 3 4 Record the reimbursement of the petty cash fund. Note: Enter debits before credits Date General Journal Debit Credit Jan 08 following expenditures: postage, $74; transportation-in, $29; delivery expenses, $16; and miscellaneous expense the perpetual system in accounting for merchandise inventory. Prepare journal entries to (1) establish the fund on January 1. (2) reimburse it on January 8, and (3) both reimburse Increase it to $450 on January 8, assuming no entry in part 2. Hint Make two separate entries for part 3. View transaction list ed Journal entry worksheet 1 2 3 4 int Record the reimbursement of the petty cash fund. ences Note: Enter debits before credits Date General Journal Debit Credit Jan 08 oblems Saved following expenditures: postage. $74; transportation-in. $29; delivery expenses. $76; and miscellaneous expenses. $43. the perpetual system in accounting for merchandise inventory. Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both relmburse the fur Increase it to $450 on January 8, assuming no entry in part 2. Hint Make two separate entries for part 3. View transaction list Journal entry worksheet
please help me. 2
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started