Fern's Flowers established a $400 petty cash fund. The following expenditures were made from the fund:
A count of the cash in the fund revealed a balance of $89.00.
Required:a)Enter the event relating to establishing the fund into the horizontal financial statements model. Indicate dollar amounts of increases and decreases; for accounts that are not affected, indicate NA. For cash flows, show whether they are operating activities (OA), investing activities (IA), or financing activities (FA).

Question

Fern's Flowers established a $400 petty cash fund. The following expenditures were made from the fund:
  A count of the cash in the fund revealed a balance of $89.00.
Required:a)Enter the event relating to establishing the fund into the horizontal financial statements model. Indicate dollar amounts of increases and decreases; for accounts that are not affected, indicate NA. For cash flows, show whether they are operating activities (OA), investing activities (IA), or financing activities (FA).

Quizplus · Accepted Answer

The Answer of Fern's Flowers established a $400 petty cash fund. The following expenditures were made from the fund:
  A count of the cash in the fund revealed a balance of $89.00.
Required:a)Enter the event relating to establishing the fund into the horizontal financial statements model. Indicate dollar amounts of increases and decreases; for accounts that are not affected, indicate NA. For cash flows, show whether they are operating activities (OA), investing activities (IA), or financing activities (FA).

Fern's Flowers Established a $400 Petty Cash Fund