Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 of 5 -/1 = View Policies Current Attempt in Progress Oriole Company maintains a petty cash fund for small expenditures. These transactions occurred

image text in transcribed

image text in transcribed

Question 1 of 5 -/1 = View Policies Current Attempt in Progress Oriole Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 15 Established the petty cash fund by writing a check payable to the petty cash custodian for $225. Replenished the petty cash fund by writing a check for $221.70. On this date, the fund consisted of $3.30 in cash and these petty cash receipts: freight-out $94.00, entertainment expense $45.30. postage expense $43.90, and miscellaneous expense $37.50. Increased the amount of the petty cash fund to $310 by writing a check for $85.00. Replenished the petty cash fund by writing a check for $294.30. On this date, the fund consisted of $15.70 in cash and these petty cash receipts: postage expense $141.10, entertainment expense $94.50, and freight-out $57.00. 16 31 (a) Journalize the petty cash transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) Debit Credit Date Account Titles and Explanation ^ TOT 5 -71 Journalize the petty cash transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, eg. 52.75.) Date Account Titles and Explanation Debit Credit Aug. 1 V V Aug. 15 V Aug. 16 P ch

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_2

Step: 3

blur-text-image_3

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

Managerial Accounting

Authors: Crosson

9th Edition

B00650WABQ

More Books

Students also viewed these Accounting questions

Question

using signal flow graph

Answered: 1 week ago