On September 1, French company has decided to initiate a petty cash fund in the amount of $800. A. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $126, Postage Expense $260, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $55. B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $19, Supplies $180, Postage Expense $60, 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 $90, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $191. The cash on hand at this time was $30. 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. Prepare journal entries for the above transactions. If an amount box does not require an entry, leave it blank.
On September 1, French company has decided to initiate a petty cash fund in the amount of $800. A. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $126, Postage Expense $260, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $55. B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $19, Supplies $180, Postage Expense $60, 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 $90, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $191. The cash on hand at this time was $30. 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. Prepare journal entries for the above transactions. If an amount box does not require an entry, leave it blank.
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 1PA: On September 1, French company has decided to initiate a petty cash fund in the amount of $800....
Related questions
Question
100%
Transcribed Image Text:Sept. 14
Sept. 23
Sept. 29
Sept. 30
011111 11111II II IIIIII
Transcribed Image Text:On September 1, French company has decided to initiate a
petty cash fund in the amount of $800.
A. On September 5, the petty cash fund needed
replenishment, and the following are the receipts: Auto
Expense $37, Supplies $126, Postage Expense $260,
Repairs and Maintenance Expense $168, Miscellaneous
Expense $149. The cash on hand at this time was $55.
B. On September 14, the petty cash fund needed
replenishment and the following are the receipts: Auto
Expense $19, Supplies $180, Postage Expense $60, 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 $90, Postage Expense $63, Repairs
and Maintenance Expense $182, Miscellaneous Expense
$191. The cash on hand at this time was $30.
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.
Prepare journal entries for the above transactions. If an
amount box does not require an entry, leave it blank.
Sept. 5
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning