strods company set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may.

GL0601 (Algo) - Based on Problem 6-2A LO P2 Strods Company set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May. May 1 Prepared a company check for $450 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. May 15 d. Paid $148 for janitorial services. May 15 b. Paid $111 for miscellaneous expenses. May 15 c. Paid postage expenses of $74. May 15 d. Paid $37 to Facebook for advertising expense. May 15 e. Counted $88 remaining in the petty cash box. May 16 Prepared a company check for $150 to increase the fund to $600. May 31 The petty cashier reports that $240 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures mode since May 15. May 31 f. Paid postage expenses of $210. May 31 8. Reimbursed the office manager for business mileage, $105. May 31 h. Paid $35 to deliver merchandise to a customer, terms FOB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $120, leaving a total of $480. Requirement General Journal General Ledger Trial Balance Impact on Income Indicate the impact each transaction had on net income. Decreases to net income should be indicated with a minus sign. Requirement General Journal General Ledger Trial Balance Impact on Income General Journal tab - Prepare the necessary journal entries. General Ledger and Trial balance tabs -Review the general ledger and trial balance tabs. Impact on Net Income tab - Calculate the impact each entry had on net income, if any. Requirement General Journal General Ledger Trial Balance Impact on Income Prepare the journal entries for each of the petty cash transactions. View transaction list NO 1 May 01 Date View journal entry worksheet Account Title No journal entry required Cash over and short Debit Credit Cash Merchandise inventory Debit Credit No. Debit Credit No. Date April 30 Balance 5,520 Date April 30 Balance 4,900 Strods, Capital Debit Credit Service revenue Debit Credit No. No. Date April 30 Balance 3,100 Date April 30 Balance 14,000 Janitorial expenses Debit Credit Insurance expense Debit Credit No. No. Date April 30 Balance 600 Date April 30 Balance 1,620 Rent expense Debit Credit Postage expenses Debit Credit No. No. Date Date April 30 Balance 2,760 Balance 300 April 30 Miscellaneous expenses Debit Credit No. NO Mileage expense Debit Credit Date April 30 Balance 650 Date April 30 Balance 100 Advertising expense Debit Credit Delivery expense Debit Credit No. Date Balance No. Date Balance See how your entries updated the trial balance. Dates: May 01 to: April 30 Strods Company Trial Balance April 30, 2020 Account Title Debit Credit s 5,520 4,900 3.100 14.000 600 Cash Merchandise inventory Strods Capital Service revenue Janitorial expenses Insurance expense Rent expense Postage expenses Miscellaneous expenses Mileage expense Advertising expense Delivery expense Total 1,620 2,760 300 650 100 460 190 S 17,100 $ 17.100 to: April 30 Impact transaction has on income: Dates: May 01 Amount of increase (decrease) Transaction May 1) Prepared a company check for $450 to establish the petty cash fund. May 15) Prepared a company check to replenish the fund for the following expenditures made since May 1 $148 for janitorial services, $111 for miscellaneous expenses, postage expenses of $74. $37 to Facebook for advertising expense. Counted $88 remaining in the petty cash box May 16 Prepared a company check for $150 to increase the fund to $600. May 31 The petty cashier reports that $240 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. postage expenses of $210, business mileage, $105, $35 to deliver merchandise to a customer terms FOB destination May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $120, leaving a total of $480 In total, net income increased (decreased) by: S