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Locating Errors in a Petty Cash Register On February 1 a petty cash fund of $150 was
Chapter 22, Problem 22-9(choose chapter or problem)
Locating Errors in a Petty Cash Register
On February 1, a petty cash fund of $150 was established for Buzz Newsstand, Check 1198. The petty cashier writes a voucher for each petty cash disbursement. The vouchers are entered in a petty cash register, which is included in your working papers. When the petty cash register was totaled on February 28, the accounting clerk discovered that the footings of the Distribution of Payments columns did not equal the total of the Payments column.
Instructions
1. Compare the petty cash disbursement information in your working papers with the entries in the petty cash register.
2. Correct any errors you find in the petty cash register by drawing a line through the incorrect item and writing the correction above it.
3. Total all columns after the corrections are made.
4. Record the replenishment information on the register. The amount in the petty cash box on February 28 was $8.10.
Analyze Explain how you determined the amount of the check to replenish the petty cash fund on February 28.
Questions & Answers
QUESTION:
Locating Errors in a Petty Cash Register
On February 1, a petty cash fund of $150 was established for Buzz Newsstand, Check 1198. The petty cashier writes a voucher for each petty cash disbursement. The vouchers are entered in a petty cash register, which is included in your working papers. When the petty cash register was totaled on February 28, the accounting clerk discovered that the footings of the Distribution of Payments columns did not equal the total of the Payments column.
Instructions
1. Compare the petty cash disbursement information in your working papers with the entries in the petty cash register.
2. Correct any errors you find in the petty cash register by drawing a line through the incorrect item and writing the correction above it.
3. Total all columns after the corrections are made.
4. Record the replenishment information on the register. The amount in the petty cash box on February 28 was $8.10.
Analyze Explain how you determined the amount of the check to replenish the petty cash fund on February 28.
ANSWER:
The amount of the check to replenish the petty cash fund on February 28 was determine