Preparation of journal entry to establish petty cash fund

Reference no: EM1315619

Preparation of journal entry to establish the petty cash fund.

Janet's Spa decided to establish and maintain a petty cash fund of $800 in April. During the month the following happened.

April 1. The fund was established with $800.

a. Prepare the journal entry to establish the petty cash fund.

At the end of April, the fund had $28 in it. The petty cash custodian presented receipts for

Postage, $235
Shipping, (Freight-out), $133
Meals for after-hour meetings (Miscellaneous Expense), $316
Coffee Service (Office Expense), $78

b. The custodian requested reimbursement of $772. Prepare the journal entry to replenish the fund.

Reference no: EM1315619

Questions Cloud

Prepare journal entries for the items : Prepare a bank reconciliation - Prepare journal entries for the items that should be journalized on Randy's books.

Relationship between dichotomour and categorical variables : Identify a research question from your professional life, research interests, or everyday experience that could be addressed by this analysis.

Describing the microsoft access : Describe what is going on within the Microsoft Access. What role do you think SQL is playing?

Computing of bond''s price coupon rate must the bond offer : Computing of bond's price coupon rate must the bond offer and If circular file wants to issues a new 6-year bond at face value

Preparation of journal entry to establish petty cash fund : Preparation of journal entry to establish the petty cash fund and Janet's Spa decided to establish and maintain a petty cash fund of $800 in April. During the month the following happened.

Assumptions for pearson correlation : Suppose that a researcher does a study to see how level of anxiety (A 1 = low, A 2 = medium, A 3 = high) is used to predict exam performance (Y).

Explaining two tail t-test : For which of given variables must a "two tail" t-test be applied?

Find quantity -price and price elasticity of demand : The Wozniak Corporation, a maker of aircraft engines, determines that in 2008 the demand curve for its product is as follows-What is the price elasticity of demand if price equals $500?

Computing of expected return on portfolio : Computing of expected return on portfolio If you are to reinvest your money into a new portfolio with the same volatility as your current portfolio

User Account

All Pages