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solniwko [45]
4 years ago
13

The petty cash fund of $200 for tomkins company appeared as follows on december 31, 2017 cash $50.60 petty cash vouchers freight

-in $58.40 postage 40.00 balloons for a special occasion 20.00 meals 25.00 collapse question part (a) prepare the general journal entry to replenish the fund. (credit account titles are automatically indented when the amount is entered. do not indent manually. enter answers to 2 decimal places,
e.g. 25.20.)
Business
1 answer:
ZanzabumX [31]4 years ago
6 0
The journal entry to record expenses in petty cash fund:

Transportation Expense-------------------$58.40
Postage Expense ---------------------------- 40.00
Parties Expense ------------------------------ 20.00
Meals Expense -------------------------------- 25.00
            Petty Cash Fund-------------------------------------$143.40

The journal entry to record the replenishment in petty cash fund:

Petty Cash Fund ------------------------------- $143.40
            Cash ----------------------------------------------------$143.40

The journal entry to record the shortage in petty cash:

Cash Short ----------------------------------------$6.00
            Petty Cash Fund------------------------------------$6.00
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Instructions are listed below.

Explanation:

Giving the following information:

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We weren't provided with enough information to answer the requirement. But, I can give you the answer using simulated numbers.

<u>Under specific identification, the company calculates the ending inventory and cost of goods sold with the exact units that were sold or remain in inventory.</u>

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