Fresh Foods established a petty cash fund of $85 on January 2. On January 31, the fund contained cash of $8.50 and vouchers for the following cash payments: Maintenance expense office supplies Transportation expense $25.50 34.00 17.00 The four distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses including any amount of cash short or over and (4) replenishment of the fund. Assume the Company uses the alternative approach to petty cash expense recognition and replenishment. Required Show each of the four events in the following horizontal statements model. (Enter any decreases to account balances with a minus sign. For changes on the Statement of Cash Flows, indicate whether the item is an operating activity (OA), investing activity (IA), financing activity (FA), or leave the cell blank if there is no effect. Round your answers to 2 decimal places.)

Waupaca Company establishes a $440 petty cash fund on September 9. On September 30, the fund shows $161 in cash along with receipts for the following expenditures: transportation-in, $56; postage expenses, $68; and miscellaneous expenses, $141. The petty cashier could not account for a $14 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 $475. View transaction list Journal entry worksheet 1 2 3 Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits. Date September 09 Record entry General Journal Clear entry

Vishunu

On September 29, the company determined that the petty cash fund needed to be increased to $1,000. What is the correct journal entry?

Waupaca Company establishes a $480 petty cash fund on September 9. On September 30, the fund shows $240 in cash along with receipts for the following expenditures: transportation-in, $42; postage expenses, $70; and miscellaneous expenses, $117. 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 $545. View transaction list Journal entry worksheet 1 2 Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits. Date General Journal Debit Cre September 09 Record entry Clear entry View genera

Meng Company maintains a $355 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $91 for office supplies, $182 for merchandise inventory, and $31 for miscellaneous expenses. There is a cash shortage of $11. The journal entry to replenish the fund on January 31 is:

The following petty cash transactions were made by the Freeman Corporation during the month                     General Journal   of September. Record the transactions in the journal provided in the account order that they appear below.                       Date Account       Debit   Credit                                                 Sep 1 Established a petty cash fund of $300.                     1-Sep Petty Cash   300                                   Cash       300     Sep 15 Reimbursed the petty cash fund for the following:                                           Stapler, staples, and tape   $55                 15-Sep     55           Pizza for the office party (meals)   $85                       85           Maintenance/Janitorial   $112                       112                                                   The cash in the box before reimbursement was $40.…

A company established a petty cash fund in April of the current year and experienced the following transactions affecting the fund during April. Prepare journal entries to establish the fund on April 1, to replenish it on April 25, and to record the increase in the fund on April 25.  April 1 Prepared a company check for $300.00 to establish the petty cash fund. April 25 Prepared a company check to replenish the fund for the following expenditures made since April 1.   Paid $84.50 for cleaning services.   Paid $84.00 for postage expense.   Paid $103.15 for office supplies.   Counted $23.35 remaining in the petty cash box. April 25 The company decides to increase the fund by $100.

Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $99 in cash along with receipts for the following expenditures: postage, $41; transportation-in, $14; delivery expenses, $16; and miscellaneous expenses, $30. Palmona uses the perpetual system in accounting for merchandise inventory. Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $250 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3. View transaction list Journal entry worksheet 1 3 Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits. Date Jan 01 Record entry 4 General Journal Clear entry Debit Credit View general journal >

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