The petty cash fund of $200 for George Company appeared as follows on December 31 2016: $\begin{array}{lr}
\text { Cash } &\$ 59.40 \
\text { Petty cash vouchers } & \
\text { Freight in } & \$ 27.60 \
\text { Postage } & 40.00 \
\text { Balloons for a special occasion } & 68.00
\end{array}$
Instructions
1. Briefly describe when the petty cash fund should be replenished. Because there is cash on hand is there a need to replenish the fund at year end on December 31? Explain.
2. Prepare in general journal form the entry to replenish the fund.
3. On December 31 the office manager gives instructions to increase the petty cash fund by $50. Make the appropriate journal entry.

Question

The petty cash fund of $200 for George Company appeared as follows on December 31 2016: $\begin{array}{lr}
\text { Cash } &\$ 59.40  \
\text { Petty cash vouchers } & \
\text { Freight in } & \$ 27.60 \
\text { Postage } & 40.00 \
\text { Balloons for a special occasion } & 68.00
\end{array}$
 Instructions
1. Briefly describe when the petty cash fund should be replenished. Because there is cash on hand is there a need to replenish the fund at year end on December 31? Explain.
2. Prepare in general journal form the entry to replenish the fund.
3. On December 31 the office manager gives instructions to increase the petty cash fund by $50. Make the appropriate journal entry.

Quizplus · Accepted Answer

The Answer of The petty cash fund of $200 for George Company appeared as follows on December 31 2016: $\begin{array}{lr}
\text { Cash } &\$ 59.40  \
\text { Petty cash vouchers } & \
\text { Freight in } & \$ 27.60 \
\text { Postage } & 40.00 \
\text { Balloons for a special occasion } & 68.00
\end{array}$
 Instructions
1. Briefly describe when the petty cash fund should be replenished. Because there is cash on hand is there a need to replenish the fund at year end on December 31? Explain.
2. Prepare in general journal form the entry to replenish the fund.
3. On December 31 the office manager gives instructions to increase the petty cash fund by $50. Make the appropriate journal entry.

The Petty Cash Fund of $200 for George Company Appeared