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THIS ARE ALL THE QUESTIONS

GL0601 - Based on Problem 6-2A LO P2 Adams Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May. May 1 Prepared a company check for $400 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. a. Paid $139 for janitorial services. b. Paid $104 for miscellaneous expenses. c. Paid postage expenses of $70. d. Paid $35 to Facebook for advertising expense. e. Counted $66 remaining in the petty cash box. May 16 Prepared a company check for $200 to increase the fund to $600. May 31 The petty cashier reports that $240 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. f. Paid postage expenses of $205. 8. Reimbursed the office manager for business mileage, $103. h. Paid $34 to deliver merchandise to a customer, terms FOB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $160, leaving a total of $440. Requirement General Journal General Ledger Trial Balance Impact on Income General Journal tab - Prepare the necessary journal entries. General Ledger and Trial balance tabs -Review the general ledger and trial balance tabs. Impact on Net Income tab - Calculate the impact each entry had on net income, if any. Requirement General Journal General Ledger Trial Balance Impact on Income Prepare the journal entries for each of the petty cash transactions. View transaction list Journal entry worksheet Requirement General Journal General Ledger Trial Balance Impact on Income See how your entries updated the account balances. Dates: May 01 to: May 31 General Ledger Account Cash Inventory No. Debit Credit No. Debit Credit Date Apr 30 Balance 4.650 Date Apr 30 Balance 5,400 Adams, Capital Service revenue No. Date Debit Credit No. Date Debit Credit Balance 2,900 Balance 14,000 Apr 30 Apr 30 Insurance expense Janitorial expenses Debit Credit No. Date No. Debit Credit Balance 600 Date Apr 30 Balance 1,500 Apr 30 Rent expense Postage expenses Debit Credit No. Debit Credit No. Date Apr 30 Balance 3,000 Date Apr 30 Balance 300 Miscellaneous expenses Debit Credit Mileage expense Debit Credit No. No. Date Apr 30 Balance 650 Date Apr 30 Balance 100 Delivery expense Advertising expense Debit Credit No. No. Debit Credit Date Apr 30 Balance 540 Date Apr 30 Balance 160 Requirement General Journal General Ledger Trial Balance Impact on Income See how your entries updated the trial balance. Dates: May 01 to: May 31 Adams Company Trial Balance May 31, 2019 Account Title Debit Credit Cash $ 4,650 5,400 2,900 14.000 600 Inventory Adams, Capital Service revenue Janitorial expenses Insurance expense Rent expense Postage expenses Miscellaneous expenses Mileage expense Advertising expense Delivery expense Total 1,500 3,000 300 650 100 540 160 16,900 $ $ 16,900 General Journal Impact on Requirement General Ledger Trial Balance Income Indicate the impact each transaction had on net income. Decreases to net income should be indicated with a minus sign. to: May 31 Transaction Dates: May 01 Impact transaction has on income: Amount of increase (decrease) $ 55 May 1) Prepared a company check for $400 to establish the petty cash fund. May 15) Prepared a company check to replenish the fund for the following expenditures made since May 1: $139 for janitorial services, $104 for miscellaneous expenses, postage expenses of $70, $35 to Facebook for advertising expense. Counted $66 remaining in the petty cash box. May 16 Prepared a company check for $200 to increase the fund to $600. May 31 The petty cashier reports that $240 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. postage expenses of $205, business mileage, $103, $34 to deliver merchandise to a customer, terms FOB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $160, leaving a total of $440. In total, net income increased (decreased) by: $ 55