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The following information apples to the questions displayed below. Austin Co. established a petty cash fund by Issuing a check for $277 and appolnting Steve
The following information apples to the questions displayed below. Austin Co. established a petty cash fund by Issuing a check for $277 and appolnting 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 $48 63 79 There was $18 of currency in the petty cash box at the time It was replenished 2.90 points d. Record the effects of the events in Requirement a on the financial statements using a horizontal statements model like the following one. (In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an account was not affected by the event. Enter any decreases to account balances with a minus sign Effect of Events on the Financial Statements Assets No Liab.Equity Rev. - Exp. Net Inc. Cash Flow Cash +Petty Cash 277 (255) 259 (277) 2. (255) (255) 255 OA (259)
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