Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The petty cash box is generally a small metal box approximately 20 cm 15 cm 8 cm (8 inches 6 inches 3 inches) and is

The petty cash box is generally a small metal box approximately 20 cm 15 cm 8 cm (8 inches 6 inches 3 inches) and is kept in the administrative assistant's desk or a file cabinet. You should be able to lock the drawer containing the petty cash box. You should always ask for receipts when making payment from the petty cash box to verify the amount of cash paid out. Occasionally, fellow workers may ask to borrow money from the cash box. If you are responsible for petty cash, it is advisable to refrain from making such personal loans. Using the MOP petty cash template provided, record the following transactions for January in the petty cash record and reimburse petty cash on January 14 January 2: 100.00 for petty cash January 2: Bought paper clips, $2.29 January 4: Pkg 10 red pens, $3.56 January 8: Purchased sugar, cream, and coffee, $13.35 January 10: Bought stamps, $30.00 January 13: Doctor's lunch, $9.50

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

Horngrens Financial And Managerial Accounting

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

6th Edition

0134486838, 978-0134486833

More Books

Students also viewed these Accounting questions

Question

What form is used to control payments from the petty cash fund?

Answered: 1 week ago

Question

Define the concept of functional autonomy as employed by Allport.

Answered: 1 week ago