Question

Salls. Po 5) The Alpha Company has the following information available pertaining to their pelly cash account: Fund Balance $400.00 March Activity: February $202.14 Postage $217.50 102.88 Meal allowance 81.24 17.81 Small tools 14.80 41.54 Mileage allowance 19.24 Misc. 41.25 11.39 Cash Balance 45.21 Prepare the following journal entries: (4 Points) A) Establish the fund B) Replenishment on February 29, 2000 C) Replenishment on March 31, 2000

Answer 1

Solution as per image below:

Alpha Company Journal Entries I Date Particulars Feb 1, 2000 Petty cash To cash (Being petty cash Established) Amount in $ Debit I credit 400 400 fand 217.50 81.24 14.80 Feb, Postage Expense 2000 meal allocooance Expense Small Tools Expense. mileage Allowance Expense misc Expenie To petty cash Being Expenses incgy a fim petty cash Fund) 41. 25 354.79 354-79 Feb, 29 Petty cash 2000 To cash Being petty cash fund foepienished 354.29 is 202 .14 102.88 17.81 41.54 11:39 375.76 March Postage Expenses 2000 meal allocinke Erfense small Tools Expense mileage Alloceance Expense misc Expense TO Petty cash Being Expenses incurred from Petty cash Fund) march 31 Petty cash 2000 To cash C Being petty cash fand is Replenished, 375.76 375.76 Scanned with CamScanner