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Problem 1: On November 1, 20X1, a small business created a $200 imprest petty cash fund for day-to-day office needs. At the end of November, $37.30 remained in the petty cash fund. Also, receipts for expenses paid using petty cash totaled $162.70 and included the following items: $57.20 for take out pizza for a late night at office; $105.50 for train fare to attend meetings with clients. On November 30, 20X1, the fund was reimbursed for November's expenditures. Prepare entries for November 20X1 relative to the imprest petty cash fund. Note: Accounts that may be used include Miscellaneous Office Expenses and Travel Expenses.
(Classification of fund balance) The General Fund of Attmore County has a total fund balance of $850,000 at December 31, 2013.
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