Jan Co, established a petty cash fund The following transactions occurred in January 2022: Established a petty cash fund for $150. The following expenditures made since Jan 3, a) taxi $17.52 b) shipping $20.50 c) minor repairs $55.30 d) miscellaneous expenses $19.63 e) counted $39.05 remaining in the petty cash safe. Increased the fund to $250. The cashier reported that $76. 39 remained in the fund. The following expenditures made since Jan. 14; a) advertisement $52 b) postage $55.61 c) delivery $65 Decreased the fund to $200. 14 15 31 31 Required: Prepare the journal entries and post to necessary ledger accounts.

Jan Co, established a petty cash fund The following transactions occurred in January 2022: Established a petty cash fund for $150. The following expenditures made since Jan 3, a) taxi $17.52 b) shipping $20.50 c) minor repairs $55.30 d) miscellaneous expenses $19.63 e) counted $39.05 remaining in the petty cash safe. Increased the fund to $250. The cashier reported that $76. 39 remained in the fund. The following expenditures made since Jan. 14; a) advertisement $52 b) postage $55.61 c) delivery $65 Decreased the fund to $200. 14 15 31 31 Required: Prepare the journal entries and post to necessary ledger accounts.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 4EA: Record the following transactions: A. Started a petty cash fund in the amount of $500. B....

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Record the following transactions: A. Started a petty cash fund in the amount of $500. B. Replenished petty cash fund using the following expenses: Auto $24, Office Expenses $43, Postage Expense $19, Miscellaneous Expenses $25. Cash on hand is $389. C. The company has decided to reduce the petty cash fund to $300.
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