A petty cash fund was originally established with a check for $100. On August 31, which is the period end, the petty cash fund included the following:

 

Petty cash receipts:

 

Postage

$43.50

Office supplies

11.85

Office equipment repair

39.00

Cash

4.25

 

Prepare the journal entry to record the establishment of the petty cash account.

Prepare the general journal entry to record the replenishment of the petty cash fund on August 31.

On 1 January, Martin Co establishes a petty cash fund in theamount of $500. On 31 January, the fund is replenished. beforereplenishment there was $128.75 remaining in the petty cash drawerand the following receipts:

parking fees- $103.50

Postage- $50

Office Supplies- $198

Miscellaneous expenses- $22

Prepare all journal entries necessary to record theestablishment and replenishment of the fund.

Plenty Co. established a petty cash fund of $150 on October 1.On October 10, the petty cash fund was replenished when there was$49 remaining and there were petty cash receipts for: officesupplies, $47; transportation-in on inventory purchased, $32; andpostage, $22. On October 15, the petty cash fund was decresed to$125 in total. Record the above transactions in general journalform.

Accounting for petty cash

Karen’s Dance Studio created a $370 imprest petty cash fund.During the month, the fund custodian authorized and signed pettycash tickets as follows:

Requirements

Make the general journal entry to create the petty cash fund.Include an explanation.

Make the general journal entry to record the petty cash fundreplenishment. Cash is the fund totals $147. Include anexplanation.

Assume that Karen’s Dance Studio decides to decrease the pettycash fund to $200. Make the general journal entry to record thisdecrease.