Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Woupaca Company establishes a $440 petty cash fund on September 9. on September 30, the fund shows $214 in cash along with receipts for the

image text in transcribed
Woupaca Company establishes a $440 petty cash fund on September 9. on September 30, the fund shows $214 in cash along with receipts for the following expenditures transportation in $41: postage expenses. $63.and miscellaneous expenses. $116. 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 $515 View transaction list Journal entry worksheet 2 > Prepare the journal entry to establish the petty cash fund. Note Enter debuts before credit Data General Journal Dobit Credit September 09

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

Accounting

Authors: John Hoggett, John Medlin, Lew Edwards, Matthew Tilling, Evelyn Hoggett Hogg

6th Edition

1742466354, 978-1742466354

More Books

Students also viewed these Accounting questions