II just need help with the cash over and short and the cash for may 31please answer do not image format. May 1 Prepared a company check for $350 to establish the petty cash fund.May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1.May 15 a. Paid $109.20 for janitorial expenses.May 15 b. Paid $89.15 for miscellaneous expenses.May 15 c. Paid postage expenses of $60.90.May 15 d. Paid $80.01 to Facebook for advertising expense.May 15 e. Counted $26.84 remaining in the petty cashbox.May 16 Prepared a company check for $200 to increase the fund to $550.May 31 The petty cashier reports that $385.27 cash remains in the fund. A company check is drawn to replenish the fundfor the following expenditures made since May 15.May 31f. Paid postage expenses of $59.10.May 31 g. Reimbursed the office manager for mileage expense, $47.05.May 31 h. Paid $48.58 in delivery expense for products to a customer, terms FOB destination.May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $50, leaving atotal of $500.Required:Prepare journal entries to establish the fund on May 1, to replenish it on May 15 and on May 31, and to reflect any increase or decreasein the fund balance on May 16 and May 31. (Round your answers to 2 decimal places.)No1234DateMay 01May 15May 16May 31Petty cashCashJanitorial expensesMiscellaneous expensesPostage expensesAdvertising expenseCash over and shortCashPetty cashCashPostage expensesMileage expenseDelivery expenseCash over and shortCashAnswer is not complete.General Journal< Prev1 of 6#♥333333✓✔♥✓●●●●● ●●Next >Debit350.00✔3333109.20✔89.1560.90✔80.01✔200.00✔59.10✔47.05✔48.58✔CreditReturn to question350.0016.10323.16200.00✔

Petty cash : Petty cash is the money which a company or any business keeps on hand for making small…

May 1 Prepared a company check for $350 to establish the petty cash fund. ay 15 Prepared a company check to replenish the fund for the following expenditures made since M ay 15 a. Paid $109.20 for janitorial expenses. ay 15 b. Paid $89.15 for miscellaneous expenses. ay 15 c. Paid postage expenses of $60.90. ay 15 d. Paid $80.01 to Facebook for advertising expense. ay 15 e. Counted $26.84 remaining in the petty cashbox. ay 16 Prepared a company check for $200 to increase the fund to $550. ay 31 The petty cashier reports that $385.27 cash remains in the fund. A company check is drawn for the following expenditures made since May 15. ay 31 f. Paid postage expenses of $59.10. ay 31 g. Reimbursed the office manager for mileage expense, $47.05. ay 31 h. Paid $48.58 in delivery expense for products to a customer, terms FOB destination. ay 31 The company decides that the May 16 increase in the fund was too large. It reduces the fun

May 1 Prepared a company check for $350 to establish the petty cash fund. ay 15 Prepared a company check to replenish the fund for the following expenditures made since M ay 15 a. Paid $109.20 for janitorial expenses. ay 15 b. Paid $89.15 for miscellaneous expenses. ay 15 c. Paid postage expenses of $60.90. ay 15 d. Paid $80.01 to Facebook for advertising expense. ay 15 e. Counted $26.84 remaining in the petty cashbox. ay 16 Prepared a company check for $200 to increase the fund to $550. ay 31 The petty cashier reports that $385.27 cash remains in the fund. A company check is drawn for the following expenditures made since May 15. ay 31 f. Paid postage expenses of $59.10. ay 31 g. Reimbursed the office manager for mileage expense, $47.05. ay 31 h. Paid $48.58 in delivery expense for products to a customer, terms FOB destination. ay 31 The company decides that the May 16 increase in the fund was too large. It reduces the fun

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...

See similar textbooks

Similar questions

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 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.
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.
Record the following transactions: A. Started a petty cash fund in the amount of $1,000. B. Replenished petty cash fund using the following expenses: Auto $61, Office Expenses $23, Postage Expense $57, Miscellaneous Expenses $30. C. The company has decided to reduce the petty cash fund to $600.
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.
Record the following transactions: A. Started a petty cash fund in the amount of $300. B. Replenished petty cash fund using the following expenses: Auto $18, Office Expenses $35, Postage Expense $56, Miscellaneous Expenses $67. Cash on hand is $124. C. Increased petty cash by $50.