On Dec. 31 The petty cash custodian performs the month-end reconciliation and totals the receipts as follows: Postage stamps used $58 Courier costs $73 Company lunch costs $61 Office decorations $30 $68 of cash remained on hand. Record the entry to reimburse the petty cash fund. Book any overage or shortage to Petty Cash Overage/Shortage. Use Misc. expense for all costs noted above. 27.On Dec. 31 Deposited $30,000 in a bond sinking fund (related to paying back bonds payable). Use the Other assets account for the debit. 28.On Dec. 31 Record the journal entry to decrease the petty cash fund to $250 from $300.

total petty cash expenses:

money left in the petty cash fund $68, so $10 are missing

December 31, petty cash fund reimbursement:

Dr Miscellaneous expenses 222

Dr Petty cash shortage 10

    Cr Cash 232

December 31, bond sinking fund established:

Dr Other assets account 30,000

    Cr Cash 30,000

December 31, petty cash fund is reduced by $50

Dr Cash 50

   Cr Petty cash fund 50

Explanation:

Question A: Petty cash Reimbursement fund

Dr.                                           $                        Cr..                                 $

Miscellaneous expenses.    222.                    Cash                            232

Petty Cash shortage  .           10

Question B: Bond sinking Fund

Dr.                                            $                       Cr.                                  $

Other assets a/c.                30,000.              Cash.                            30,000

Question C: Petty Cash Fund

Dr.                                            $                        Cr.                                 $

Cash.                                      50.                 Petty Cash Fund              50

Additional Information

For the petty cash Reimbursement, total expenses were at $222 and money in hand is $68, making a total of $10 shorting from the petty cash fund out of a combined total of $300.

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.