Required information Check my work Problem 6-24A (Algo) Petty cash fund LO 6-4 [The following information applies to the questions displayed below.] Austin Company established a petty cash fund by issuing a check for $286 and appointing Steve Mack as petty cash custodian. Mack had vouchers for the following petty cash payments during the month. Stamps Miscellaneous items: Employee supper money Taxi fare window-washing service $50 24 65 45 81 There was $20 of currency in the petty cash box at the time it was replenished. The four distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, (3) recognition of expenses, and (4) replenishment of the fund. Assume the company uses a traditional approach to petty cash expense recognition and replenishment. Problem 6-24A (Algo) Part d d. Show the effects of the events in Requirement (a) on the financial statements using a horizontal statements model. (In the Statement of Cash Flows column indicate whether the tes reimbursements made to employees, (3) recognition of expenses, and (4) replenishment of the fund. Assume the company uses a traditional approach to petty cash expense recognition and replenishment. Problem 6-24A (Algo) Part d d. Show the effects of the events in Requirement (a) on the financial statements using a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Leave blank to indicate that an account was not affected by the event. Enter any decreases to account balances and cash outflows with a minus sign.) Event 1. Cash 2 3. Effect of Events on the Financial Statements Horizontal Statements Model Balance Sheet Income Statement Stockholders' Assets Statement of Cash Liabilities Petty Cash Equity Retained Earnings Revenue Expenses Net Income Flows