Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Waupaca Company establishes a $480 petty cash fund on September 9. on September 30, the fund shows $249 in cash along with receipts for the

image text in transcribed
image text in transcribed
image text in transcribed
Waupaca Company establishes a $480 petty cash fund on September 9. on September 30, the fund shows $249 in cash along with receipts for the following expenditures: transportation in, $40 postage expenses $70, and miscellaneous expenses. S115. The petty cashier could not account for a $6 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 $525 View transaction list 1 Journal entry worksheet no > Prepare the journal entry to establish the petty cash fund, Notent des core cred Creant Ceneral Journal Date Sept OD Debit 400 htly con 0 Cash Proy 1 of 3 Next > w Waupaca Company establishes a $480 petty cash fund on September 9. on September 30, the fund shows $249 in cash along with receipts for the following expenditures transportation in $40 postage expenses. $70; and miscellaneous expenses. $115. The petty cashier could not account for a $6 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare 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 $525. View transaction list Journal entry worksheet

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

Core Concepts Of Accounting

Authors: Robert N. Anthony, Leslie Pearlman Breitner

8th Edition

0130406716, 9780130406712

More Books

Students also viewed these Accounting questions