6:20 1 8 expert.chegg.com/qna/aut Chegg Home Expert Q&A Student question My solutions Time Left: 01:56:48 Vo #5G LTE 158% Guide Me 8 Notifications Tag the question Step-by-step Final solution Waupaca Company establishes a $320 petty cash fund on September 9. On September 30, the fund shows $ 44 in cash along with receipts for the following expenditures: transportation-in, $51; postage expenses, $68; and miscellaneous expenses, $146. The petty cashier could not account for a $11 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $395. Subject Accounting Sub-subject Search And Select

C Record the following transactions. Mar 5 Established a Petty Cash Fund amounting to P4,000 Mar 6-25 Paid for the following Mar Food for the visitors Flowers for Gen Manager Parking Fees and Toll gate fees IOU of employee Office supplies 26 Replenished Petty Cash P Cash on hand totalled P150.00 27 Increased PCF by P2,250 Mar Mar 28-31 Paid for the following Maynilad Office supplies 1,199.00 750.00 201.50 1,000.00 723.00 850.00 425.00 April 1-22 Paid for the following Office supplies Repair of equipment IOU of employee April 2,122.00 1,250.00 1,500.00 23 Replenished petty cash fund Cash on hand totalled P100.00

Petty Cash Record and Journal Entries On May 1, a petty cash fund was established for $200.00. The following vouchers were issued during May: Date Voucher No. Purpose Amount May 1 Postage due 2$ 2.90 Office supplies 11.00 5 Auto repair (miscellaneous) 43.00 4. Drawing (Joy Adams) 22.00 11 Donation (Red Cross) 11.00 15 6. Travel expenses 26.00 22 Postage stamps 3.40 26 8. Phone call 3.00 30 9. Donation (Boy Scouts) 21.00 Required: 1. Prepare the journal entry to establish the petty cash fund. Page: DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 38 1 20-- May 1 21 Establish petty cash fund 4.

PROBLEM 1. 4111 Company had the following items in its "Cash and cash equivalents" account as of December 31, 2022: Cash on hand                                                                                      P125,000Bank time deposit (acquired 12/30/2022; due in 2/28/2023)           150,000Petty cash fund - including P2,550 unreplenished vouchers dated December 27-30, 2022; and P1,200 dated January 4, 2023            10,000Cash in foreign bank - unrestricted ($5,000; average rate - P50; closing rate - P52)                                 250,000Cash restricted for additions to plant (to be disbursed in 2025)        1,200,000Cash in bank - to be used for payment of 2023 dividends and taxes 1,380,000   How much should be reported as cash and cash equivalents as of December 31, 2022? a. P1,875,450 b. P1,922,450 c. P1,921,250 d. P1,944,250   PROBLEM 2. The following data were taken from the accounting records of 423, Inc       Balance at January 1, 2022 5,000 balls @ P20Purchases:…