Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Secure https/ 3 Help Exercise 8-5 Petty cash fund with a shortage LO P2 aupaca receipts for the following expenditures transportation-in, $54: postage expenses, $66

image text in transcribed
Secure https/ 3 Help Exercise 8-5 Petty cash fund with a shortage LO P2 aupaca receipts for the following expenditures transportation-in, $54: postage expenses, $66 cashier could not account for a $8 shortage in the fund. The establishes a $390 petty cash fund on September 9. On September 30, the fund shows $113 in cash along with company uses the perpetual system in accounting for merchandise , and miscelameous expenses, $149. The petty Prepare the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and Gan October ' entry to increase the fund to $460. Journal entry worksheet Prepare the journal entry to establish the Petty Cash fund. Date Sept 9

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 The Impact On Decision Makers An Alternative To Debits And Credits

Authors: Gary A. Porter, Curtis L. Norton

4th Edition

0324272669, 978-0324272666

More Books

Students also viewed these Accounting questions