Please answer competely Marin, Inc. decided to establish a petty cash fund to help erisure internal control over its small cash expenditures. The followinginformation is available for the month of April.1. On April 1, it established a petty cash fund in the amount of $253.2 A summary of the petty cash expenditures made by the petty cash custodian as of April 10 is as follows.Delivery charges paid on merchandise purchased$71Supplies purchased and used36Postage expense44LO.U. from employees28Miscellaneous expense47The petty cash fund was replenished on April 10. The balance in the fund was $17.3. The petty cash fund balance was increased $111 to $364 on April 20.Prepare the Journal entries to record transactions related to petty cash for the month of April. (f no entry is required, select "No Entryfor the account tides and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indentmanually)

>Petty Cash fund is created out of Cash account. >It is created to pay out certain petty…

Marin, Inc. decided to establish a petty cash fund to help erisure internal control over its sma Information is available for the month of April. 1. On April 2 A summary of the petty cash expenditures made by the petty cash custodian as of April 10 is as follows. il 1, it established a petty cash fund in the amount of $253. Delivery charges paid on merchandise purchased Supplies purchased and used $71 36 Postage expense 44 LO.U. from employees 28 Miscellaneous expense 47 The petty cash fund was replenished on April 10. The balance in the fund was $17. 3. The petty cash fund balance was increased $111 to $364 on April 20. Prepare the journal entries to record transactions related to petty cash for the month of April. of no entry is required, select "No Entry

Marin, Inc. decided to establish a petty cash fund to help erisure internal control over its sma Information is available for the month of April. 1. On April 2 A summary of the petty cash expenditures made by the petty cash custodian as of April 10 is as follows. il 1, it established a petty cash fund in the amount of $253. Delivery charges paid on merchandise purchased Supplies purchased and used $71 36 Postage expense 44 LO.U. from employees 28 Miscellaneous expense 47 The petty cash fund was replenished on April 10. The balance in the fund was $17. 3. The petty cash fund balance was increased $111 to $364 on April 20. Prepare the journal entries to record transactions related to petty cash for the month of April. of no entry is required, select "No Entry

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 1PB: On June 1 French company has decided to initiate a petty cash fund in the amount of $800. Prepare...

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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.
On June 1 French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries for the following transactions: A. On June 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $220. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $251, Supplies $88, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $20. D. On June 29, the company determined that the petty cash fund needed to be increased 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 $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $437.
On May 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 $80. 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 $114, Supplies $75, Postage Expense $50, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.
On September 1, French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries for the following transactions: A. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48. B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $210. C. On September 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $251, Supplies $88, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $20. D. On September 29, the company determined that the petty cash fund needed to be increased to $1,000. E. On September 30, the petty cash fund needed replenishment as it was month end. The following are the receipts: Auto Expense $18, Supplies $15, Postage Expense $57, Repairs and Maintenance Expense $49, Miscellaneous Expense $29. The cash on hand at this time was $837.