Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Waupaca Company establishes a $350 petty cash fund on September 9. On September 30, the fund shows $104 in cash along with receipts for the

image text in transcribed
image text in transcribed
image text in transcribed
Waupaca Company establishes a $350 petty cash fund on September 9. On September 30, the fund shows $104 in cash along with receipts for the following expenditures: transportation-in. $40, postage expenses, $123, and miscellaneous expenses, $80. The petty cashier could not account for a $3 shortage in the fund. The company uses the perpetual system in accounting for merchandise Inventory Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $400 View transaction list Journal entry worksheet 3 Prepare the journal entry to establish the petty cash fund. Hotel Sintar debits before credits General Journal Debit Credit Date Sep 09 10151 Next > Saved Waupaca Company establishes a $350 petty cash fund on September 9. On September 30, the fund shows $104 in cash along with receipts for the following expenditures: transportation-in, $40, postage expenses, $123, and miscellaneous expenses, $80. The petty cashier could not account for a $3 shortage in the fund. The company uses the perpetual system in accounting for merchandise Inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $400 View transaction list Journal entry worksheet 1 2 3 > Record the reimbursement of the petty cash fund. Nota Entor debts before credit General Journal Debit Credit Sep 30 View NA Woupaca Company establishes a $350 petty cash fund on September 9. On September 30, the fund shows $104 in cash along with receipts for the following expenditures: transportation.in. $40 postage expenses, $123, and miscellaneous expenses, $80. The petty cashier could not account for a $3 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to Increase the fund to $400. View transaction lit Journal entry worksheet 1 2 3 Record the increase of the petty cash fund. Enter debts before credit Date General Journal Debit Credit Oct 01 View

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

Auditing The Food And Beverage Operation An Operational Audit Approach Volume 1

Authors: Hans L. Steiniger Certified Public Accountant Certified Internal Auditor

1st Edition

1424167698, 978-1424167692

More Books

Students also viewed these Accounting questions