Alpha Company established a petter cash fund on July 1, 2017 by writing a cheque in the following amount of $500

and placing the proceeds into a strong box. The custodian, Mr. Faithfully Honest accepted the responsibility for the petty cash fund on that date. The following petty cash events occurred based on the receipts that Mr. Honest had had in his box:

Date: Event: Amount:

7/2 Postage for immediate use $15

7/10 Office supplies for immediate use $50

7/11 Gasoline for company car $50

7/19 Fedex shipping to customer $45

7/29 Office machine repair $75

The amount of petty cash in the strong box on July 31st prior to reconciliation was $250. On July @31, the petter cash was reconciled and replenished by issuing a cheque to Mr. Honest. The following petty cash events occurred based on the receipts that Mr. Honest had in his strong box:

Date: Event: Amount:

9/5 Postage for immediate use $25

9/12 Office supplies for immediate use $35

9/12 Gasoline for company car $50

9/25 office machine repair $55

926 New office adding machine $175

The amount of petty cash in the strong box on September 30th prior to reconciliation was $170. On September 40th, the petter cash was reconciled and replenished by issying a cheque to Mr. Honest to include an amount that increase the authorized balance of the petty cash fund to a total of $600. Use this information to prepare the general ledger entries (compound entry when required & without explanations) for:

a-July 1, establishment of petty cash fund

b-July 3, replenishment

c-September 30, replenishment and increase funding petty cash

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"