Kimiko's Dance Studio created a petty cash fund on June 1 st with $368. During...

60.1K

Verified Solution

Question

Accounting

imageimage Kimiko's Dance Studio created a petty cash fund on June 1 st with $368. During the month, the fund custodian authorized and signed petty cash tickets as follows: 1. Make the general journal entry to create the petty cash fund. 2. Make the general journal entry on June 30th to record the petty cash fund replenishment. Cash in the fund totals $77. 3. Assume that Kimiko's Dance Studio decides to decrease the petty cash fund on June 1st to $135. Make the journal entry to record this decrease

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students