Matt's Machine Shop manufactures high precision parts for military aircraft. All expenditures are generally paid using the cash disbursements system; however, Matt has decided to set up a petty cash fund of $200 for incidental expenses. a.) June 1 Obtain $200 trom the bank to set up petty cash fund.
b) June 5 Used 550 from petty cash to pay FedEx for an urgent outgoing package.
c.) June 7 Used $120 from petty cash for food delivered to provide dinner for employees working late to complete an important job.
d.) June 15 Replenish petty cash fund. There was $20 remaining in the petty cash box
e) June 25 Used Petty cash to pay $70 to FedEx for another urgent outgoing package Used $78 trompetty cash to purchase repair parts from Home Depot.
1) June 30 Replenish petty cash fund. There was 530 remaining in the petty cash box
9) July 1 Matt has decided to increase the amount in Petty cash from $200 to $300, therefore, $100 was obtained from the bank and placed in the petty cash box.

Georgia orchards produced a good crop of peaches this year. after preparing the following income statement, the company is concerned about the net loss on its no. 3 peaches. georgia orchards income statement for year ended december 31, 2017 no. 1 no. 2 no. 3 combined sales (by grade) no. 1: 300,000 ibs. @ $1.50/lb $ 450,000 no. 2: 300,000 ibs. @ $1.00/lb $ 300,000 no. 3: 750,000 ibs. @ $0.25/lb $ 187,500 total sales $ 937,500 costs tree pruning and care @ $0.30/ib 90,000 90,000 225,000 405,000 picking, sorting, and grading @ $0.15/ib 45,000 45,000 112,500 202,500 delivery costs 15,000 15,000 37,500 67,500 total costs 150,000 150,000 375,000 675,000 net income (loss) $ 300,000 $ 150,000 $ (187,500 ) $ 262,500 in preparing this statement, the company allocated joint costs among the grades on a physical basis as an equal amount per pound. the company’s delivery cost records show that $30,000 of the $67,500 relates to crating the no. 1 and no. 2 peaches and hauling them to the buyer. the remaining $37,500 of delivery costs is for crating the no. 3 peaches and hauling them to the cannery. required: 1. prepare reports showing cost allocations on a sales value basis to the three grades of peaches. separate the delivery costs into the amounts directly identifiable with each grade. then allocate any shared delivery costs on the basis of the relative sales value of each grade. (do not round intermediate calculations.)