Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. larkspur company established a petty cash fund on

Larkspur Company established a petty cash fund on May 1 for $100. The company reimbursed...

50.1K

Verified Solution

Question

Accounting

image
image
Larkspur Company established a petty cash fund on May 1 for $100. The company reimbursed the fund on June 1 and July 1 with the following results June 1: Cash in fund $3.45 July 1: Cash in fund $3.85 Receipts delivery expense $29.85, postage expense $37.75, and miscellaneous expense $25.95 Receipts: delivery expense $22.65, entertainment expense $49.95, and miscellaneous expense $23.55. On July 10, Larkspur increased the fund from $100 to $130, Prepare journal entries for Larkspur Company for May 1, June 1. July 1, and July 10. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, e... 52.75.) Date Account Tities and Explanation Debit Credit June 1 July

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

Finance
1.2K views

1. Why do people invest in stocks? Is stock a riskier investment than bonds? Why or...

Statistics
1.2K views

Three fair coins are tossed simultaneously 10 times. Find the probability that \"2 heads and one...

Physics
1.2K views

A lion spots a gazelle exposed on the plain. The gazelle is 35m from the bear,...

Psychology
1.2K views

How does a behavioral health provider differ from a clinician or licensed counselor?

Biology
1.2K views

13 Which statement is not true about the peptide bond A The carbonyl oxygen and...

Geometry
1.2K views

4 Write the conditional converse and contrapositive to the following inverse statement If a triangle...

Basic Math
1.2K views

A farmer classifies his carrots as 'small', 'medium' or 'large'. His harvest follows a normal...

Calculus
1.2K views

The following parametric curve models the path driven by a race car driving around a...

Accounting
1.2K views

solve this transaction 1. The owner invested additional $50,000 cash on...

Accounting
1.2K views

please answer all I will rate thx Sackville Company's inventory...

Accounting
1.2K views

The stockholders equity accounts of Bramble Corp. on January 1, 2017, were as follows. ...

Accounting
1.2K views

Beckley Corporation has provided the following data from its activity-based costing accounting system: Indirect...