Prepare the general journal entry to set up the petty cash fund on January 2, and to replenish the petty cash fund back upto $ 600 and Explain 3 different reasons for the disagree of the balance per company books and the bank statement balance. Swartz Company established a petty cash fund of $600 for small expenditures onJanuary 2, 20-. At the end of the month, the count of cash on hand indicated that $38.36remained in the fund. A sorting of petty cash vouchers disclosed that the following expenseshad been incurred during the month and the fund was replenished.$230.60Postage ExpenseOffice Supplies ExpenseMiscellaneous Expense165.90119.05HST Recoverable36.09GENERAL JOURNALPAGEDATEPARTICULARSP.R.DEBITCREDIT

The following computations are done to evaluate the ending balance of the petty cash book of Swartz…

Answered: Prepare the general journal entry to…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 20E

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Prepare the general journal entry to set up the petty cash fund on January 2, and to replenish the petty cash fund back upto $ 600 and Explain 3 different reasons for the disagree of the balance per company books and the bank statement balance.

Swartz Company established a petty cash fund of $600 for small expenditures on
January 2, 20-. At the end of the month, the count of cash on hand indicated that $38.36
remained in the fund. A sorting of petty cash vouchers disclosed that the following expenses
had been incurred during the month and the fund was replenished.
$230.60
Postage Expense
Office Supplies Expense
Miscellaneous Expense
165.90
119.05
HST Recoverable
36.09
GENERAL JOURNAL
PAGE
DATE
PARTICULARS
P.R.
DEBIT
CREDIT

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