Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information [The following information applies to the questions displayed below.] Harristown Hockey Club (HHC) maintains a petty cash fund for minor club expenditures.
Required information [The following information applies to the questions displayed below.] Harristown Hockey Club (HHC) maintains a petty cash fund for minor club expenditures. The petty cash custodian, Wayne Crosby, describes the events that occurred during the last two months: a. I established the fund by cashing a check from HHC for $280 made payable to me. b. Tom Canuck provided a $76 receipt for repairs to the club's computer, so I paid $76 cash to him. c. Kim Harra provided a receipt for $56 for various supplies she planned to use to decorate the arena later this year. I paid $56 cash to her. d. Trainer Jim bought some equipment that the club intends to use for the next few years. He gave me the receipt and I paid him $86. e. On the last day of the month, I prepared a summary of expenditures and requested the fund be replenished. I received and cashed a check from HHC for $218, placing the cash into a locked cash box. f. Wendy Wignes provided receipts for supplies purchased for the club's office for use next month. I paid $131 cash to her. g. Destiny Hook provided a phone bill showing she had paid $36 for telephone calls made to contact referees for the annual tournament. I paid her $36 cash. h. Gutty McTavish submitted a receipt for $41 for a haircut he received. I did not pay him. 1. On the last day of the month, I received and cashed a check from HHC for $167, placing the cash into the locked cash box.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started