Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. waupaca company establishes a $470 petty cash fund

Waupaca Company establishes a $470 petty cash fund on September 9 . On September 30...

70.2K

Verified Solution

Question

Accounting

image

image

image

Waupaca Company establishes a $470 petty cash fund on September 9 . On September 30 , the fund shows $208 in cash along with receipts for the following expenditures: transportation-in, $45, postage expenses, $65; and miscellaneous expenses, $140. The petty cashier could not account for a $12 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) an October 1 entry to increase the fund to $515. Journal entry worksheet Record the reimbursement of the petty cash fund. Note: Enter debits before credits. Journal entry worksheet Record the increase of the petty cash fund. Note: Enter debits before credits

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Exercise 12-17B Direct: Preparing statement of cash flows andsupporting note LO P1, P3, P5Cash...Exercise...

Accounting
Q

In testing the hypothesis H0:  μ = 800 vs. Ha:  μ ≠ 800. A sample of size 40...

Statistics
Q

A diver springs off a 10 m high diving board. If he leaves the board with...

Physics
Q

Which of these people developed the polio vaccine?Marie CurieIsaac NewtonAlbert EinsteinJonas Salk

Biology
Q

about Greek playwright Aristophanes showing why the playwright still has meaning for contemporary audiences Essay...

Basic Math
Q

The average number of accidents at controlled intersections per year is 4 3 Is this...

Statistics
Q

Find the z scores that separate the middle 71 of the distribution from the area...

Statistics
Q

The relationship between the revenue of a company (y) and the amount the company spends...

Accounting
Q

Chang Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to...

Accounting
Q

Recently, you needed money and agreed to sell a car you had inherited at a...

Finance
Q

The ratios that are used to determine a company's short-term debt paying ability are a....

Accounting
Q

Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs...

Accounting