subject
Business, 20.11.2019 23:31 crystalbyrd79p8imrx

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). prepare the entries.

may 1: prepared a company check for $300 to establish the petty cash fund.

may 15: prepared a company check to replenish the fund for the following expenditures made since may 1.

a. paid $93.60 for janitorial services.

b. paid $76.41 for miscellaneous expenses.

c. paid postage expenses of $52.20.

d. paid $68.58 to the county gazette (the local newspaper) for an advertisement.

e. counted $23.01 remaining in the petty cash box.

may 16: prepared a company check for $200 to increase the fund to $500.

may 31: the petty cashier reports that $339.32 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15.

f. paid postage expenses of $53.73

g. reimbursed the office manager for business mileage, $42.78.

h. paid $44.17 to deliver merchandise 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 a total of $450.

ansver
Answers: 2

Other questions on the subject: Business

image
Business, 22.06.2019 19:00, Anonymouslizard
All of the following led to the collapse of the soviet economy except a. a lack of worker incentives. c. inadequate supply of consumer goods. b. a reliance on production quotas. d. the introduction of a market economy.
Answers: 1
image
Business, 22.06.2019 19:40, yoyo80431
Which term describes an alternative to car buying where monthly payments are paid for a specific period of time, after which the vehicle is returned to the dealership or bought? a. car financing b. car maintenance c. car leasing d. car ownership
Answers: 3
image
Business, 23.06.2019 01:30, izzy0627
Which of the following is considered part of a country’s infrastructure?
Answers: 1
image
Business, 23.06.2019 06:00, acontrevas1010
If a society decides to produce consumer goods from its available resources, it is answering the economic question
Answers: 1
You know the right answer?
Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involvi...

Questions in other subjects: