Only D and E please PA2. LO 8.5 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, MiscellaneousExpense $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, MiscellaneousExpense $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, MiscellaneousExpense $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 thereceipts: 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.

Petty cash is a cash which is used for the payment of day to day expenses.

Answered: Only D and E please

Business

Accounting

Only D and E please

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 2PA: On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare...

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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.
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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