Required information [The following information applies to the questions displayed below.] Service World maintains a petty cash fund. The fund custodian encountered the following events. a. The fund was established when a check for $375 was cashed and deposited into a locked cash box. b. An employee submitted a receipt for a customer delivery costing $35 and was reimbursed in full from petty cash. c. Another employee submitted a receipt for $75 for locksmith repairs to the office door and was reimbursed in full from petty cash. d. An employee submitted a receipt for newspaper advertising that cost the company $65. She was given $65 from the petty cash box. e. The petty cash custodian received and cashed a check that fully replenished the petty cash fund. f. An employee submitted a receipt for $50 for supplies and was reimbursed in full from petty cash. g. An employee submitted a receipt for $80 for filling up his personal vehicle. He was not reimbursed because it would violate company policy. h. At the end of the month, a check was given to the petty cash custodian to not only replenish the petty cash fund but also increase the total fund to $515. equired: . Prepare any required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 The fund was established when a check for $375 was cashed and deposited >
Required information [The following information applies to the questions displayed below.] Service World maintains a petty cash fund. The fund custodian encountered the following events. a. The fund was established when a check for $375 was cashed and deposited into a locked cash box. b. An employee submitted a receipt for a customer delivery costing $35 and was reimbursed in full from petty cash. c. Another employee submitted a receipt for $75 for locksmith repairs to the office door and was reimbursed in full from petty cash. d. An employee submitted a receipt for newspaper advertising that cost the company $65. She was given $65 from the petty cash box. e. The petty cash custodian received and cashed a check that fully replenished the petty cash fund. f. An employee submitted a receipt for $50 for supplies and was reimbursed in full from petty cash. g. An employee submitted a receipt for $80 for filling up his personal vehicle. He was not reimbursed because it would violate company policy. h. At the end of the month, a check was given to the petty cash custodian to not only replenish the petty cash fund but also increase the total fund to $515. equired: . Prepare any required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 The fund was established when a check for $375 was cashed and deposited >
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section5.4: Petty Cash
Problem 1WT
Related questions
Question
![!
Required information
[The following information applies to the questions displayed below.]
Service World maintains a petty cash fund. The fund custodian encountered the following events.
a. The fund was established when a check for $375 was cashed and deposited into a locked cash box.
b. An employee submitted a receipt for a customer delivery costing $35 and was reimbursed in full from petty cash.
c. Another employee submitted a receipt for $75 for locksmith repairs to the office door and was reimbursed in full from
petty cash.
d. An employee submitted a receipt for newspaper advertising that cost the company $65. She was given $65 from the
petty cash box.
e. The petty cash custodian received and cashed a check that fully replenished the petty cash fund.
f. An employee submitted a receipt for $50 for supplies and was reimbursed in full from petty cash.
g. An employee submitted a receipt for $80 for filling up his personal vehicle. He was not reimbursed because it would
violate company policy.
h. At the end of the month, a check was given to the petty cash custodian to not only replenish the petty cash fund but
also increase the total fund to $515.
Required:
1. Prepare any required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the
first account field.)
View transaction list
Journal entry worksheet
1
2
4 5 6 7
Note: Enter debits before credits.
8
The fund was established when a check for $375 was cashed and deposited
into a locked cash box. Record the transaction.
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6a572e2b-87df-48ba-8757-10a895e74e30%2F985369f2-d430-4651-b10f-87da9a28aaea%2Fbrbxqx_processed.png&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
Service World maintains a petty cash fund. The fund custodian encountered the following events.
a. The fund was established when a check for $375 was cashed and deposited into a locked cash box.
b. An employee submitted a receipt for a customer delivery costing $35 and was reimbursed in full from petty cash.
c. Another employee submitted a receipt for $75 for locksmith repairs to the office door and was reimbursed in full from
petty cash.
d. An employee submitted a receipt for newspaper advertising that cost the company $65. She was given $65 from the
petty cash box.
e. The petty cash custodian received and cashed a check that fully replenished the petty cash fund.
f. An employee submitted a receipt for $50 for supplies and was reimbursed in full from petty cash.
g. An employee submitted a receipt for $80 for filling up his personal vehicle. He was not reimbursed because it would
violate company policy.
h. At the end of the month, a check was given to the petty cash custodian to not only replenish the petty cash fund but
also increase the total fund to $515.
Required:
1. Prepare any required journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the
first account field.)
View transaction list
Journal entry worksheet
1
2
4 5 6 7
Note: Enter debits before credits.
8
The fund was established when a check for $375 was cashed and deposited
into a locked cash box. Record the transaction.
>
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Pkg Acc Infor Systems MS VISIO CD
Finance
ISBN:
9781133935940
Author:
Ulric J. Gelinas
Publisher:
CENGAGE L