Skysong Company established a petty cash fund on May 1 for $100. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $2.55. Receipts: delivery expense $27.05, postage expense $38.30, and miscellaneous expense $29.90. July 1: Cash in fund $4.05. Receipts: delivery expense $22.50,
Skysong Company established a petty cash fund on May 1 for $100. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $2.55. Receipts: delivery expense $27.05, postage expense $38.30, and miscellaneous expense $29.90. July 1: Cash in fund $4.05. Receipts: delivery expense $22.50,
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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Skysong Company established a petty cash fund on May 1 for $100. The company reimbursed the fund on June 1 and July 1 with the following results.
| June 1: Cash in fund $2.55. | Receipts: delivery expense $27.05, postage expense $38.30, and miscellaneous expense $29.90. | |
| July 1: Cash in fund $4.05. | Receipts: delivery expense $22.50, entertainment expense $47.50, and miscellaneous expense $25.95. |
On July 10, Skysong increased the fund from $100 to $130.
Prepare
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Account Titles and Explanation
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Credit
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enter an account title
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enter an account title
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enter an account title
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