Take me to the text On May 1, 2019, Street Design set up a petty cash fund for $300. At the end of the first week, the pa Cash on hand Receipt for the purchase of office supplies Receipt for the delivery charges $14 Receipt for the purchase of stamps $18 Receipt for travel to a client meeting $42 Receipt for the payment of newspaper advertising $79 Required Do not enter dollar signs or commas in the input boxes. a) Calculate any cash overage or shortage. Cash is Short by $13 b) Prepare the journal entries for setting up, and replenishing the petty cash fund. For transactions with more than one debit, enter the debit accounts in alphabetical order Account Title and Explanation Debit Credit Date 2019 May 1 May 7 Petty Cash Cash Set up the petty cash fund Advertising Expense Cash Over and Short Travel Expense ✓ Cash ✔ : ✔ 79 :v 13 Delivery Expense Office Supplies Expense ✔ 34 Stamps Expense ✔ 14 300 : ✔ ✔ ✓ To replenish the petty cash fund $100 $34 18 42 > 300 200
Take me to the text On May 1, 2019, Street Design set up a petty cash fund for $300. At the end of the first week, the pa Cash on hand Receipt for the purchase of office supplies Receipt for the delivery charges $14 Receipt for the purchase of stamps $18 Receipt for travel to a client meeting $42 Receipt for the payment of newspaper advertising $79 Required Do not enter dollar signs or commas in the input boxes. a) Calculate any cash overage or shortage. Cash is Short by $13 b) Prepare the journal entries for setting up, and replenishing the petty cash fund. For transactions with more than one debit, enter the debit accounts in alphabetical order Account Title and Explanation Debit Credit Date 2019 May 1 May 7 Petty Cash Cash Set up the petty cash fund Advertising Expense Cash Over and Short Travel Expense ✓ Cash ✔ : ✔ 79 :v 13 Delivery Expense Office Supplies Expense ✔ 34 Stamps Expense ✔ 14 300 : ✔ ✔ ✓ To replenish the petty cash fund $100 $34 18 42 > 300 200
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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