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Aleonysh [2.5K]
3 years ago
9

During October, Carla Vista Company experiences the following transactions in establishing a petty cash fund.

Business
1 answer:
ahrayia [7]3 years ago
7 0

Answer:

October 1

Dr. Petty Cash      $146

Cr. Cash                $146

October 31

Dr. Supplies                      $24.77

Dr. Miscellaneous items  $15.07

Dr. Postage                       $38.37

Dr. Freight-Out                  $5.47

Dr.  Cash Shortage           $1.29

Cr. Cash (146-59-2.03)     $84.97

Tot reimburse Petty cash Expense

Dr. Petty Cash      $50

Cr. Cash at bank  $50

(196-146 = 50)

Explanation:

A petty cash is a small amount of money disbursed by an organisation for expenditures. This expenditures are usually day to day expenses such as postages, stationaries, office supplies and so on. From time to time, there may be cash shortages or the cash may be over for various reasons.

Supplies, Miscellaneous items, Postage, and Freight are all expenses account due to their debit nature it is debited to record all these expenses and Cash net of petty cash balance and actual cash available is credited to decrease the balance of the cash used for expenses. Ne of these entries is cash excess or shortage.

Cash issued for petty cash is recorded as debit in petty cash account and credit the cash at bank to record the effect of this transfer.

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Trial Balance

As on May 31, 2017

Account Titles Debit ($) Credit ($)

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Total 34800-34800

Learn more about balances here:- brainly.com/question/24914390

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1 year ago
Thế nào là toàn cầu hóa thị trường, toàn cầu hóa sản xuất?
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Answer:

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2 years ago
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3 years ago
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