Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QS 6.9 (Algo) Petty cash accounting LO P2 1. Brooks Agency set up a petty cash fund for $230. At the end of the current

image text in transcribed
image text in transcribed
image text in transcribed
QS 6.9 (Algo) Petty cash accounting LO P2 1. Brooks Agency set up a petty cash fund for $230. At the end of the current period, the fund contained $155 and had the following receipts: entertainment, \$41; postege, \$17; and ptinting. \$17. Prepare journal entries to record (a) establithment of the fund and (b) reimbirsement of the fund at the end of the current period. 2. Identify the two events from the following that couse a Petty Cash account to be credited in a journal entry. Complete this queation by entering your answers in the tabs below. Prepare joumal entries to record (a) estabilishment of the fund and (b) reimbursement of the fund at the end of the current period. Journal entry worksheet 2 Record the establishment of the petty cash fund. Notel Enter debits before credits. OS 6.9 (Algo) Petty cash accounting LO P2 1. Brooks Agency set up a petty cash fund for $230. At the end of the current period, the fund contained $155 and had the following recelpts: entertainment, 54t; postage, \$17) and pinting. \$17. Prepare journal entries to record (a) estabithiment of the fund and (b) reimbursement of the fund at the end of the current period. 2. Identify the fwo events from the following thet cause a Petty Cash account to be credited in a joumal entry. Complete this questien by entering your answers in the tabs below. Prepare joumal entries to record (a) entabilshment of the fund and (b) reimbursement of the fund at the end of the curcent period. Journal entry worksheet Record the reimbursement of the fund at the end of the current period. Note: Enter deblts before credits. QS 6-9 (Algo) Petty cash accounting LO P2 1. Brooks Agency set up a petty cash fund for $230. At the end of the current period, the fund contained $155 and had the following receipts: entertainment, \$41; postage, \$17; and printing, \$17. Prepare joumat entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. 2. Identify the two events from the following that cause a Petty Cash account to be credited in a joumal entry. Complete this question by entering your answers in the tabs below. Identify the two events from the following that cause a Petty Cash account to be credited in a journal entry

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 MBAs

Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally

6th Edition

161853100X, 978-1618531001

More Books

Students also viewed these Accounting questions

Question

Explain why XML is extensible.

Answered: 1 week ago