Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. adam's dance studio created a $250 imprest petty c

Adam's Dance Studio created a $250 imprest petty cash fund. During the month, the fund...

80.2K

Verified Solution

Question

Accounting

Adam's Dance Studio created a $250 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows:
(Click the icon to view the petty cash tickets.)
Read the requirements.
Requirement 1. Make the general journal entry to create the petty cash fund. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.)
Make the general journal entry to create the petty cash fund. Include an explanation.
Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $31. Include an explanation.
Assume that Adam's Dance Studio decides to decrease the petty cash fund to $120. Make the general journal entry to record this decrease.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

(a) Let G and G′ be finite groups whose orders have no common factors. Show that...

Advance Math
Q

When costs to purchase inventory are rising, using LIFO leads to reporting a ______ than FIFO. lower...

Accounting
Q

Palmer Consulting Company Carson Palmer established Palmer Consulting Company on February 1, 2019, since he retired from...

Accounting
Q

Your sister is pregnant with fraternal twins a separate fertilization produced each fetus What s...

Biology
Q

A point object O is placed at the origin a thin equi convex glass lens...

Physics
Q

174 000 This process includes only the cost of processing the claim payments not the...

Statistics
Q

On January 1, 2020, the Ayayai Corp. had $2,300,000 of $10 par value...

Accounting
Q

Use the following to answer questions 91-92: (Ignore income taxes in this problem.) Lambert...

Accounting
Q

Schuman Corporation produces microwave units. The following per-unit cost information is available: direct materials $38;...

Accounting
Q

What is the effect on account balances when an adjusting entry to record an unrecorded...

Accounting
Q

As of the end of June, the job cost sheets at Racing Wheels, Inc., show...

Accounting
Q

Computer Repair Inc. uses time and materials pricing, and each year it reviews its rates...

Accounting