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    Revv Cojuangco
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    The document shows transactions for a petty cash fund from May 2 to May 31. On May 2, $8,000 was deposited into the petty cash fund from the cash in bank. On May 20, $2,500 was spent on freight-in and $3,000 on freight-out, leaving $6,300 in the cash in bank. On May 31, additional expenses were paid from petty cash and a $130 shortage was found, with $630 owed from employees.

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    The document shows transactions for a petty cash fund from May 2 to May 31. On May 2, $8,000 was deposited into the petty cash fund from the cash in bank. On May 20, $2,500 was spent on freight-in and $3,000 on freight-out, leaving $6,300 in the cash in bank. On May 31, additional expenses were paid from petty cash and a $130 shortage was found, with $630 owed from employees.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    12 views1 page

    Untitled

    Uploaded by

    Revv Cojuangco
    The document shows transactions for a petty cash fund from May 2 to May 31. On May 2, $8,000 was deposited into the petty cash fund from the cash in bank. On May 20, $2,500 was spent on freight-in and $3,000 on freight-out, leaving $6,300 in the cash in bank. On May 31, additional expenses were paid from petty cash and a $130 shortage was found, with $630 owed from employees.

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    © All Rights Reserved
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    of 1

    1-9

    1. May 2 Petty Cash Fund 8,000


    Cash in Bank 8,000
    2. May 2-20 No Entry
    3. No Entry
    4. May 20 Freight-in 2,500
    Freight-out 3,000
    Supplies Expense 800
    Cash in Bank 6,300
    5. No Entry
    6. May 31 Freight-in 1,200
    Transportation Expense 150
    Employee Benefit Expense 320
    Receivable from Employees* 630
    Petty Cash Fund
    (8,000 – 5,700) 2,300
    *(IOU of 500 + short of 130)

    Per count
    Bills and coins 5,700
    Paid petty cash vouchers
    (1,200 + 150 + 320 + 500) 2,170
    Total 7,870
    Petty cash fund, imprest balance (8,000)
    Cash shortage 130

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