H1.Account During October, Splish Brothers Lighting Company experiences the following activities related to its petty cash fund:Oct. 1 A petty cash fund is established with a check for $180.00 issued to the petty cash custodian.A count of the petty cash fund disclosed the following items used for replenishment:Currency3131CoinsExpenditure receipts (vouchers):Office supplies (asset)Telephone, Internet, and fax (misc. exp.)PostageFreight-outThe fund was increased to $210.$27.7029.3090.009.80$19.000.20 DateAccount Titles and Explanation(To replenish petty cash fund)Show Transcribed TextĆDebitCredit

Petty cash is the amount which is kept with the cashier of the business entity to meet up the daily…

During October, Splish Brothers Lighting Company experiences the following activities related to its petty cash fund: Oct. 1 A petty cash fund is established with a check for $180.00 issued to the petty cash custodian. 31 A count of the petty cash fund disclosed the following items used for replenishment: Currency 31 Coins Expenditure receipts (vouchers): Office supplies (asset) Telephone, Internet, and fax (misc. exp.) Postage Freight-out The fund was increased to $210. $27.70 29.30 90.00 9.80 $19.00 0.20

During October, Splish Brothers Lighting Company experiences the following activities related to its petty cash fund: Oct. 1 A petty cash fund is established with a check for $180.00 issued to the petty cash custodian. 31 A count of the petty cash fund disclosed the following items used for replenishment: Currency 31 Coins Expenditure receipts (vouchers): Office supplies (asset) Telephone, Internet, and fax (misc. exp.) Postage Freight-out The fund was increased to $210. $27.70 29.30 90.00 9.80 $19.00 0.20

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter5: Cash Control Systems

Section: Chapter Questions

Problem 4AP

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On July 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: A. On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $110. C. On June 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment, as it was month end. The following are the receipts: Auto Expense $14, Supplies $75, Postage Expense $150, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.
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