1 Mastery Assignment Ch. 8 Question 1 A.Started a petty cash fund in the amount of $300. B. JOURNAL DateAccountDebitCredit Petty CashCashTo record establishment of petty cash fund 300 300 C.Replenished petty cash fund using the following expenses: Auto $18, Office Expenses $35, Postage Expense $56, Miscellaneous Expenses $67. Cash on hand is $124. JOURNAL DateAccountDebitCredit Auto ExpenseOffice ExpensePostage ExpenseMiscellaneous ExpenseCashTo record replenishment of petty cash fund 18 35 56 67 176 D.Increased petty cash by $50. JOURNAL DateAccountDebitCredit Petty CashCashTo increase the balance of petty cash fund by $50 50 50 Question 2 A.Started a petty cash fund in the amount of $200. JOURNAL DateAccountDebitCredit Petty CashCashTo record establishment of petty cash fund200 200
2 B.Replenished petty cash fund using the following expenses: Auto $15, Office Expenses $20, Postage Expense $81, Miscellaneous Expenses $66. Cash on hand is $10. JOURNAL DateAccountDebitCredit Auto ExpenseOffice ExpensePostage ExpenseMiscellaneous ExpenseCash Over/ShortCashTo record replenishment of petty cash fund 15 20 81 66 8 190 JOURNAL DateAccountDebitCredi t Cash Over and Short8 Cash8 To replenishpetty cash balance for cash shortage during the period C.Increased petty cash by $75. JOURNAL DateAccountDebitCredit Petty CashCashTo increase the balance of petty cash fund by $75 75 75
Expert's Answer
Chat with our Experts
Want to contact us directly? No Problem. We are always here for you
Your future, our responsibilty submit your task on time.
Order Now
Get Online
Assignment Help Services
