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Exercise 6-10 Petty cash fund accounting LO P2 Palmona Co. establishes a $320 petty cash fund...
Palmona Co. establishes a $200 petty cash fund on January 1, On January 8, the fund...
Palmona Co. establishes a $200 petty cash fund on January 1, On January 8, the fund shows $91 in cash along with receipts for the following expenditures: postage, $46; transportation-in, $13; delivery expenses, $15; and miscellaneous expenses, $35. 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...
Palmona Co. establishes a $270 petty cash fund on January 1. On January 8, the fund...
Palmona Co. establishes a $270 petty cash fund on January 1. On January 8, the fund shows $171 in cash along with receipts for the following expenditures: postage, $43; transportation-in, $11; delivery expenses, $13; and miscellaneous expenses, $32. 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 $320 on January 8, assuming...
Palmona Co. establishes a $180 petty cash fund on January 1. On January 8, the fund...
Palmona Co. establishes a $180 petty cash fund on January 1. On January 8, the fund shows $89 in cash along with receipts for the following expenditures: postage, $38; transportation-in, $12; delivery expenses, $14; and miscellaneous expenses, $27. Palmona uses the perpetual system in accounting for merchandise inventory. nts eBook Hint 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 $230 on...
Palmona Co. establishes a $190 petty cash fund on January 1. On January 8, the fund...
Palmona Co. establishes a $190 petty cash fund on January 1. On January 8, the fund shows $97 in cash along with receipts for the following expenditures: postage, $40; transportation-in, $11, delivery expenses, $13; and miscellaneous expenses, $29. Palmona uses the perpetual system in accounting for merchandise inventory. points 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 $240 on January 8,...
Chapter 06 Homework Saved Palmona Co. establishes a $310 petty cash fund on January 1. On...
Chapter 06 Homework Saved Palmona Co. establishes a $310 petty cash fund on January 1. On January 8, the fund shows $211 in cash along with receipts for the following expenditures: postage, $42; transportation-in, $12, delivery expenses, $14; and miscellaneous expenses, $31. Palmona uses the perpetual system in accounting for merchandise inventory. points 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...
Waupaca Company establishes a $470 petty cash fund on September 9. on September 30, the fund...
Waupaca Company establishes a $470 petty cash fund on September 9. on September 30, the fund shows $255 in cash along with receipts for the following expenditures: transportation-in, $45; postage expenses, $58; and miscellaneous expenses, $110. The petty cashier could not account for a $2 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...
Waupaca Company establishes a $330 petty cash fund on September 9. On September 30, the fund...
Waupaca Company establishes a $330 petty cash fund on September 9. On September 30, the fund shows $77 in cash along with receipts for the following expenditures: transportation-in, $52postage expenses, $58; and miscellaneous expenses, $132. 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)...
Waupaca Company establishes a $430 petty cash fund on September 9. On September 30, the fund...
Waupaca Company establishes a $430 petty cash fund on September 9. On September 30, the fund shows $137 in cash along with receipts for the following expenditures: transportation-in, $55; postage expenses, $79; and miscellaneous expenses, $150. The petty cashier could not account for a $9 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...
Halle's Berry Farm establishes a $350 petty cash fund on September 4 to pay for minor...
Halle's Berry Farm establishes a $350 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of September, the fund contains $275 in cash. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Entertainment for office party (petty cash) Lawn maintenance (credit card) Postage (credit card) Fuel for deliveries (credit...
Waupaca Company establishes a $390 petty cash fund on September 9. On September 30, the fund...
Waupaca Company establishes a $390 petty cash fund on September 9. On September 30, the fund shows $162 in cash along with receipts for the following expenditures: transportation-in, $46; postage expenses, $68; and miscellaneous expenses, $106. The petty cashier could not account for a $8 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...
Palmona Co. establishes a $200 petty cash fund on January 1, On January 8, the fund shows $91 in cash along with receipts for the following expenditures: postage, $46; transportation-in, $13; delivery expenses, $15; and miscellaneous expenses, $35. 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...
Palmona Co. establishes a $270 petty cash fund on January 1. On January 8, the fund shows $171 in cash along with receipts for the following expenditures: postage, $43; transportation-in, $11; delivery expenses, $13; and miscellaneous expenses, $32. 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 $320 on January 8, assuming...
Palmona Co. establishes a $180 petty cash fund on January 1. On January 8, the fund shows $89 in cash along with receipts for the following expenditures: postage, $38; transportation-in, $12; delivery expenses, $14; and miscellaneous expenses, $27. Palmona uses the perpetual system in accounting for merchandise inventory. nts eBook Hint 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 $230 on...
Palmona Co. establishes a $190 petty cash fund on January 1. On January 8, the fund shows $97 in cash along with receipts for the following expenditures: postage, $40; transportation-in, $11, delivery expenses, $13; and miscellaneous expenses, $29. Palmona uses the perpetual system in accounting for merchandise inventory. points 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 $240 on January 8,...
Chapter 06 Homework Saved Palmona Co. establishes a $310 petty cash fund on January 1. On January 8, the fund shows $211 in cash along with receipts for the following expenditures: postage, $42; transportation-in, $12, delivery expenses, $14; and miscellaneous expenses, $31. Palmona uses the perpetual system in accounting for merchandise inventory. points 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...
Waupaca Company establishes a $470 petty cash fund on September 9. on September 30, the fund shows $255 in cash along with receipts for the following expenditures: transportation-in, $45; postage expenses, $58; and miscellaneous expenses, $110. The petty cashier could not account for a $2 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...
Waupaca Company establishes a $330 petty cash fund on September 9. On September 30, the fund shows $77 in cash along with receipts for the following expenditures: transportation-in, $52postage expenses, $58; and miscellaneous expenses, $132. 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)...
Waupaca Company establishes a $430 petty cash fund on September 9. On September 30, the fund shows $137 in cash along with receipts for the following expenditures: transportation-in, $55; postage expenses, $79; and miscellaneous expenses, $150. The petty cashier could not account for a $9 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...
Halle's Berry Farm establishes a $350 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of September, the fund contains $275 in cash. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Entertainment for office party (petty cash) Lawn maintenance (credit card) Postage (credit card) Fuel for deliveries (credit...
Waupaca Company establishes a $390 petty cash fund on September 9. On September 30, the fund shows $162 in cash along with receipts for the following expenditures: transportation-in, $46; postage expenses, $68; and miscellaneous expenses, $106. The petty cashier could not account for a $8 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...
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