Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. tamarisk, inc. maintains a petty cash fund for sma

Tamarisk, Inc. maintains a petty cash fund for small expenditures. These transactions occurred during the...

70.2K

Verified Solution

Question

Accounting

image
image
Tamarisk, Inc. maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 15 Established the petty cash fund by writing a check payable to the petty cash custodian for $200.00. Replenished the petty cash fund by writing a check for $195.50. On this date, the fund consisted of $4.50 in cash and these petty cash receipts: freight-out $73.60, entertainment expense $36.70, postage expense $32.80, and miscellaneous expense $51.00. Increased the amount of the petty cash fund to $440,00 by writing a check for $240.00 Replenished the petty cash fund by writing a check for $325.00. On this date, the fund consisted of $115 in cash and these petty cash receipts: postage expense $144.00, entertainment expense $93.00, and freight-out $86.00. 16 31 Post to the Petty Cash account. (Round answers to 2 decimal places, e.g. 52.75.) Petty Cash 8/1 200 8/1 200 8/16 240 8/16 V 240 8/31 Bal 440 8/31 440

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