Question

Recording Petty Cash Account Transactions Instructions Chart Of Accounts General Journa Instructions During March, Anderson Company engaged in the following transactions involving - nawet na chuck to March Transactions: Mar. 1 Anderson Company established the petty cash fund by issuing a check for $1,100 to the fund custodian. 4 The custodian paid $70 out of petty cash for freight charges on now equipment. This amount is properly classified as equipment The custodian paid $210 out of petty cash for supplies. Anderson expenses supplies purchases as supplies expense. The custodian paid $30 out of petty cash for express mail services for reports sent to the Environmental Protection Agency. This is considered a miscellaneous expense. 25 The custodian filed a claim for reimbursement of petty cash expenditures during the month totaling $310. 31 Anderson issued a check for $310 to the custodian, replenishing the fund for expenditures during the month.

Answer 1

General journal- Anderson Company				Impact on Financial Statement
				Balance Sheet			Income Statement
Date	Account Titles	Debit	Credit	Asset	Liability	Equity	Income	Expenses
1-Mar	Petty Cash	$1,100.00		No Impact beause Cash balance will be reduced and Petty Cash balance will be increased, net impact on Asset will be Nil
	Cash		$1,100.00
	(To established petty cash fund)
4-Mar	Equipment	$70.00		No Impact beause Cash balance will be reduced and Equipment balance will be increased, net impact on Asset will be Nil
	Petty Cash		$70.00
	To record Freight charges paid)
12-Mar	Supplies expense	$210.00		No Impact beause Cash balance will be reduced and Supplies   balance will be increased, net impact on Asset will be Nil
	Petty Cash		$210.00
	To Record office supplies purchased
22-Mar	Miscellaneous expense	$30.00		Decreased				Increased
	Petty Cash		$30.00
	To Record paid to express mail service
25-Mar	No Entry
31-Mar	Petty Cash	$310.00		No Impact beause Cash balance will be reduced and Petty Cash balance will be increased, net impact on Asset will be Nil
	Cash		$310.00
	(petty cash replenished)