Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Purpose: The purpose of this assignment is to allow you to practice and demonstrate your grasp of the following learning objectives for this module. -

image text in transcribed
Purpose: The purpose of this assignment is to allow you to practice and demonstrate your grasp of the following learning objectives for this module. - Be able to use basic office accounting procedures such as working with bank accounts and petty cash funds. Tasks(s): Using a table in Microsoft Word create a petty cash budget sheet to show the following account activity: - October 1: $300 added to petty cash account to start - October 3: \$70.00 was removed from petty cash to take a customer out to lunch - October 3:$6.73 was returned to petty cash - October 5: $23.00 was given to J. Smith for fuel reimbursement - October 9: $25.00 was taken out to purchase printer paper - October 9: $7.63 was returned - October 14: $60.00 was removed to take the client to lunch - October 14: 13.47 was returned - October 21: $60.00 was removed to take a client to lunch - October 21: $7.29 was returned - October 26: $25.00 was taken out to purchase copier paper - October 26: $7.62 was returned - October 30:$40.00 was taken out to purchase holiday candy - October 30: 1.74 was returned Once you have created your budget sheet answer the following questions (in the same document): 1. How much money was left in petty cash at the end of the month? 2. How would you go about setting up the petty cash drawer for November

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

Financial Accounting For Executives And MBAs

Authors: Ferris & Wallace

2nd Edition

1934319627, 978-1934319628

More Books

Students also viewed these Accounting questions