uired information e following information applies to the questions displayed below. perior Cabinets maintains a petty cash fund for minor business expenditures. The petty cash custodian, Mo Smith, escribes the events that occurred during the last two months: a. I established the fund by cashing a Superior Cabinets check for $315 made payable to e. b. Liz Clay provided a receipt for $53 for various supplies. I paid $53 cash to her. c. James Flyer provided a $73 taxi receipt, so I paid $73 cash to him. d. Ricky Ricota claimed to do photocopying for Superior Cabinets at The UPS Store for $100 but had misplaced the receipt. He gave me a signed memo explaining what happened and I paid $100 cash to him. e. On the last day of the month, I prepared a summ ary of expenditures and requested the fund be replenished. I received and cashed a Superior Cabinets check for $226, placing the cash into the locked cash box f James Flyer provided receipts for taxi costs ($78), so I paid $78 cash to him. g Woo Riun provided a S150 receipt from a local delivery company for an expedited delivery to a customer. I paid her $150 cash. h. Ricky Ricota claimed to have purchased $38 of envelopes, but again he had misplaced the receipt. He showed me a big stack of envelopes and signed another memo explaining what happened, so i paid him $38 cash. esting that the fund be replenished, I recelved and cashed a Superior Cabinets check for $266, placing the cash into the locked cash box / After suggesting that the petty cash fund be increased, I received and cashed a Superior Cabinets check for $100 cash, which I placed in the locked cash box. K Prev 10 of 10E 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 Superior Cabinets check for $226, placing the cash into the locked cash box f James Flyer provided receipts for taxi costs ($78), so I paid $78 cash to him. g. Woo Riun provided a $150 receipt from a local delivery company for an expedited delivery to a customer. I paid her $150 cash. h. Ricky Ricota claimed to have purchased $38 of envelopes, but again he had misplaced the receipt. He showed mea big stack of envelopes and signed another memo explaining what happened, so I paid him $38 cash. i After requesting that the fund be replenished, I received and cashed a Superior Cabinets check for $266, placing the cash into the locked cash box J. After suggesting that the petty cash fund be increased, I received and cashed a Superior Cabinets check for $100 cash which I placed in the locked cash box. 2. If Superior Cabinets has $1,150 cash in the bank, $500 of government Treasury bills purchased last month with a six-week maturity, and $780 of cash set aside for legal reasons, how much will the company report on the balance sheet as "Cash and Cash Equivalents"? TIP: Don't forget to include the amount in the Petty Cash fund. Cash and Cash Eguvalents K Prev 10 of 10
