A) Winningham Company maintains a petty cash fund for small expenditures. The fo
ID: 2346030 • Letter: A
Question
A) Winningham Company maintains a petty cash fund for small expenditures. The following transactions occurred over a 2-month period.July 1 Established petty cash fund by writing a check on Cubs Bank for $200.
15 Replenished the petty cash fund by writing a check for $196.00. On this date the fund consisted of $4.00 in cash and the following petty cash receipts: freight-out $94.00, postage expense $42.40, entertainment expense $46.60, and miscellaneous expense $11.20.
31 Replenished the petty cash fund by writing a check for $192.00. At this date, the fund consisted of $8.00 in cash and the following petty cash receipts: freight-out $82.10, charitable contributions expense $45.00, postage expense $25.50, and miscellaneous expense $39.40.
Aug. 15 Replenished the petty cash fund by writing a check for $187.00. On this date, the fund consisted of $13.00 in cash and the following petty cash receipts: freight-out $75.60, entertainment expense $43.00, postage expense $33.00, and miscellaneous expense $37.00.
16 Increased the amount of the petty cash fund to $300 by writing a check for $100.
31 Replenished petty cash fund by writing a check for $284.00. On this date, the fund consisted of $16 in cash and the following petty cash receipts: postage expense $140.00, travel expense $95.60, and freight-out $47.10.
B) Post to the Petty Cash account. (If answer is zero, please enter 0. Do not leave any fields blank.)
Cash
No. 101
Date Explanation Ref. Debit Credit Balance
July 1 CP
Aug. 16 CP
Explanation / Answer
July 1 Established petty cash fund by writing a check on Cubs Bank for $200.
______________________________________
Petty Cash $200
Cash $200
Established petty cash
______________________________________
15 Replenished the petty cash fund by writing a check for $196.00. On this date the fund consisted of $4.00 in cash and the following petty cash receipts: freight-out $94.00, postage expense $42.40, entertainment expense $46.60, and miscellaneous expense $11.20.
Petty Cash $196.00
Freight-Out $94.00
Postage expense $42.40
Entertainment expense $46.60
Miscellaneous expenses $11.20
Cash $390.20
Replenish petty cash fund
__________________________________________
31 Replenished the petty cash fund by writing a check for $192.00. At this date, the fund consisted of $8.00 in cash and the following petty cash receipts: freight-out $82.10, charitable contributions expense $45.00, postage expense $25.50, and miscellaneous expense $39.40.
Petty Cash $192.00
Freight-Out $82.10
Charitable Contr. exp. $45.00
Postage expense $25.50
Miscellaneous expenses $39.40
Cash $384.00
Replenish petty cash fund
_____________________________________________
Aug. 15 Replenished the petty cash fund by writing a check for $187.00. On this date, the fund consisted of $13.00 in cash and the following petty cash receipts: freight-out $75.60, entertainment expense $43.00, postage expense $33.00, and miscellaneous expense $37.00.
Petty Cash $187.00
Freight-Out $75.60
Entertainment expense $43.00
Postage expense $33.00
Miscellaneous expenses $37.00
Cash $375.60
Replenish petty cash fund
______________________________________________
16 Increased the amount of the petty cash fund to $300 by writing a check for $100.
Petty Cash $100
Cash $100
Increase the amount of petty cash fund
_______________________________________________
31 Replenished petty cash fund by writing a check for $284.00. On this date, the fund consisted of $16 in cash and the following petty cash receipts: postage expense $140.00, travel expense $95.60, and freight-out $47.10.
Petty Cash $284.00
Postage expense $140.00
Travel expense $95.60
Freight-Out $47.10
Cash $566.70
Replenish petty cash fund
______________________________________________
B) Post to the Petty Cash account. (If answer is zero, please enter 0. Do not leave any fields blank.)
Petty Cash Account
______________________________
Date Amount
July 1 Cash $200
July 15 Cash $196
Aug. 15 Cash $187
Aug. 16 Cash $100
Aug. 31 Cash $284
__________________________________
$967
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