Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 2 (5 points) The following documentation was found in Spector Enterprises's petty cash box, for the month of March: office use Amount S 18.62

image text in transcribed
Question 2 (5 points) The following documentation was found in Spector Enterprises's petty cash box, for the month of March: office use Amount S 18.62 $ 31.12 61.70 $ 21.86 24.94 14.34 March item Purpose 2 paper clips 6cleaning supplies office cleaning 8 Coupons promotion $ 9 Snow shovel snow clearing 21 Flyers advertise weekly specials S 24 City of Moose Jaw parking $ General Ledger expense accounts are as follows: Automobile Expense Advertising Expense Office Supplies Expense Maintenance Expense The opening balance of the petty cash fund was $200 and the amount of cash remaining at the end of the month is $7.21. The company wants to reduce the petty cash fund to $150 REQUIRED: Prepare a Petty Cash Report in good form, for the month of March and calculate the amount of cash replenishment needed to restore the Petty Cash Fund to the desired level

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

Accounting Tools For Business Decision Making

Authors: Paul D. Kimmel

3rd Edition

0470377852, 978-0470377857

More Books

Students also viewed these Accounting questions

Question

Identify sustainable HRM practices in an organization.

Answered: 1 week ago

Question

How would you describe the new culture?

Answered: 1 week ago