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\mathrm{.}00$ was removed from petty cash to take a customer out to lunch

October $3$: $$6\mathrm{.}73$ was returned to petty cash

October $5$: $$23\mathrm{.}00$ was given to J$.$ Smith for fuel reimbursement

October $9$: $$25\mathrm{.}00$ was taken out to purchase printer paper

October $9$: $$7\mathrm{.}63$ was returned

October $14$: $$60\mathrm{.}00$ was removed to take the client to lunch

October $14$: $13\mathrm{.}47$ was returned

October $21$: $$60\mathrm{.}00$ was removed to take a client to lunch

October $21$: $$7\mathrm{.}29$ was returned

October $26$: $$25\mathrm{.}00$ was taken out to purchase copier paper

October $26$: $$7\mathrm{.}62$ was returned

October $30$:$$40\mathrm{.}00$ was taken out to purchase holiday candy

October $30$: $1\mathrm{.}74$ was returned

Once you have created your budget sheet answer the following questions $($in the same document$)$:

How much money was left in petty cash at the end of the month?

How would you go about setting up the petty cash drawer for November?