Chapter 8+9 - P8-2AWinningham Company maintains a petty...

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Unformatted text preview: P8-2AWinningham Company maintains a petty cash fund for small expenditures. The following transactions occurred over a 2-month period. July1Established petty cash fund by writing a check on Cubs Bank for $200.15Replenished the petty cash fund by writing a check for $196.00. On this date the fund consisted of $4.00 in cash and the following petty cash receipts: freight-out $94.00, postage expense $42.40, entertainment expense $46.60, and miscellaneous expense $11.20.31Replenished the petty cash fund by writing a check for $192.00. At this date, the fund consisted of $8.00 in cash and the following petty cash receipts: freight-out $82.10, charitable contributions expense $45.00, postage expense $25.50, and miscellaneous expense $39.40.Aug.15Replenished the petty cash fund by writing a check for $187.00. On this date, the fund consisted of $13.00 in cash and the following petty cash receipts: freight-out $75.60, entertainment expense $43.00, postage expense $33.00, and miscellaneous expense $37.00.16Increased the amount of the petty cash fund to $300 by writing a check for $100.31Replenished petty cash fund by writing a check for $284.00. On this date, the fund consisted of $16 in cash and the following petty cash receipts: postage expense $140.00, travel expense $95.60, and freight-out $47.10.Journalize the petty cash transactions. (List multiple debit/credit entries in descending order of amounts. Round answers to 2 decimal places.)DateDescriptionDebitJuly 1Petty cash200 CashJuly 15Freight-out94.00 Entertainment expense...
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This note was uploaded on 11/15/2010 for the course ACCT acct105 taught by Professor Kruc during the Fall '10 term at Bucks Community College.

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Chapter 8+9 - P8-2AWinningham Company maintains a petty...

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