Wk4 D1 - P8-30A (20-30 min.) Req. 1 Characteristics of...

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Unformatted text preview: P8-30A (20-30 min.) Req. 1 Characteristics of Internal Control features of the imprest fund are mainitaining the ac amount through means af both cash and tickets while one person is in sole control of the funds replenishes it as needed. Req. 2 $90 in actual cash, $310 in petty cash tickets, not $313. Req. 3 Journal Accounts and Explanations April 1 Petty Cash Cash in Bank Open Petty 30 Office Supplies Travel Expenses Delivery expenses Entertainment Expenses Inventory Expenses Cash in Bank Cash Over/ Short Replenish the Fund Req. 4 Journal Accounts and Explanations May 1 Petty cash Cash in bank Increase petty cash fund Answer: The custodian writes a check to petty cash for $100 and deposits it the are mainitaining the account at the specified ole control of the funds. This person also al anations Debit 400 Credit 400 Open Petty 86 25 37 80 85 313 3 enish the Fund al anations Debit 100 Credit 100 e petty cash fund $100 and deposits it then enters it on journal. ...
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Wk4 D1 - P8-30A (20-30 min.) Req. 1 Characteristics of...

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