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Establishing and Replenishing a Petty Cash Fund Shutterbug Cameras, a camera store
Chapter 22, Problem 22-6(choose chapter or problem)
Establishing and Replenishing a Petty Cash Fund
Shutterbug Cameras, a camera store, decided to establish a petty cash fund. On February 1 the accountant, Al Rosen, issued Check 1018 for $70 to establish the fund. The following disbursements were made.
Instructions
1. In your working papers, record the entry to establish the petty cash fund on page 9 of a general journal.
2. Make a list of the paid petty cash vouchers.
3. Classify the petty cash disbursements by account. Calculate the total amount paid out for each account.
4. Prepare a petty cash requisition, signing your name as the petty cashier. On February 28 there was $1.50 in the petty cash box.
5. Record the entry in the general journal (page 11) to replenish the petty cash fund on February 28. Use Check 1191.
Analyze Calculate the total petty cash disbursements for Delivery Expense during February.
Questions & Answers
QUESTION:
Establishing and Replenishing a Petty Cash Fund
Shutterbug Cameras, a camera store, decided to establish a petty cash fund. On February 1 the accountant, Al Rosen, issued Check 1018 for $70 to establish the fund. The following disbursements were made.
Instructions
1. In your working papers, record the entry to establish the petty cash fund on page 9 of a general journal.
2. Make a list of the paid petty cash vouchers.
3. Classify the petty cash disbursements by account. Calculate the total amount paid out for each account.
4. Prepare a petty cash requisition, signing your name as the petty cashier. On February 28 there was $1.50 in the petty cash box.
5. Record the entry in the general journal (page 11) to replenish the petty cash fund on February 28. Use Check 1191.
Analyze Calculate the total petty cash disbursements for Delivery Expense during February.
ANSWER:Step 1 of 4
Disbursement of cash refers to the amount of money paid using the petty cash fund of the company.