Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company’s fiscal year). may 1 prepared a company check for $300 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $88 for janitorial services. b. paid $53.68 for miscellaneous expenses. c. paid postage expenses of $53.50. d. paid $47.15 to the county gazette (the local newspaper) for an advertisement. e. counted $62.15 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $500. 31 the petty cashier reports that $288.20 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $147.36. g. reimbursed the office manager for business mileage, $23.50. h. paid $34.75 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $100, leaving a total of $400.

The petty cash balance is prepared as follows:

Explanation:

                   The Petty Cash Book for Kiona Co.

Date           Purchase                                  Amount($)     Balance ($)

                   Check                                                300                 300

                   Janitorial services                               88                  212

                   Miscellaneous expenses                    53.68             158.32

                   Postage expenses                               53.5               104.82

                   Country Gazette                                   47.15                57.57

                   Balance as counted                               -                     62.15

                   Company check                                  200                 262.15

                   Balance as reported                              -                     288.20

                   Postage expenses                               147.36              140.84          

                   Reimbursement                                      23.5               117.34

                   Deliveries                                                34.75               82.59

                   Balance at month-end                             -                      82.59

                   Balance for June 1st                                 -                    400

                   Float for June                                            -                    482.59

answer utilities; more money you have to pay out ; )

answerproduct line length; product mix width;