fill charts PRINCIPI Gradebook ORION Downloadable eTextbook

fill charts

PRINCIPI Gradebook ORION Downloadable eTextbook ment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN Exercise 7-8 Tamarisk, Inc. uses an im prest petty cash system. The fund was established on March 1 with a balance of $115. During March, the following petty cash receipts were found in the petty cash box. Date Receipt No. For Stamp Inventory Freight-Out Miscellaneous Expense Travel Expense Miscellaneous Expe 3/5 $38 12 10 38 14 The fund was replenished on March 15 when the fund contained $6 in cash. On March 20, the amount in the fund was increased to $190. the entries in March that pertain to the operation of the petty cash fund. (Credit account itles are automatically indented when amount is entered. Do not indent manually, Record journal entries in the are problem.) Date Account Titles and Explanation Debit Credit Mar. 15 All Rights Reserved. A Division of

Solution

Exercise 7-8

When funds were replenished on 15th march the balance of peety cash is restored to $115. When the balance is increased on Mar 20th to $190 we increase it by the difference amount = 190-115=$75

Exercise 7-10

Check outstanding as on May 31

Mar-01	Petty Cash A/c	Dr	115
	To Cash A/c			115
Mar-15	Stamp Inventory A/c	Dr	38
	Freight out A/c	Dr	12
	Miscellaneous expense A/c	Dr	19
	Travel Expense A/c	Dr	38
	Short Cash A/c	Dr	2
	To Cash A/c			109
Mar-20	Petty Cash A/c	Dr	75
	To Cash A/c			75