Chapter 10
Cash Controls
313
Petty cash can also increase at the same time it is replenished. If on December 17 petty cash was
replenished and increased at the same time, Figures 10.31 and 10.32 would be combined, meaning
cash would be credited by a total of $135.The combined transaction is shown in Figure 10.33.
Journal
Page 1
Date
2016
account title and explanation
Debit Credit
Dec 17 Parking Expense
21
Delivery Expense
24
Office Supplies Expense
20
Gasoline Expense
18
Cash Over and Short
2
Petty Cash
50
Cash
135
Replenish and increase petty cash
______________
FIGURE 10.33
A spreadsheet may be maintained listing the various expenses so that each month the general
ledger can be updated with the correct allocation of expenses. An example is shown in Figure 10.34.
hr Clothing
Petty Cash expenses Paid
July 2016
Description
receipt # amount office travel
meals marketing
Photo Developing
1
8.07
8.07
Taxis
2
65.00
65.00
Meals
3
33.00
33.00
Batteries
4
11.00
11.00
Photocopying—brochures
5
23.32
23.32
Photocopying—general
6
3.05
3.05
Parking
7
1.87
1.87
Parking
8
10.26
10.26
Parking
9
3.00
3.00
Parking
10
4.00
4.00
Parking
11
6.50
6.50
Parking
12
7.00
7.00
Parking
13
6.00
6.00
Parking
14
3.94
3.94
Parking
15
1.00
1.00
Gas
16
10.00
10.00
Meals
17
8.10
8.10
Travel
18
49.01
49.01
totals
$254.12 $3.05 $167.58 $41.10 $42.39
Cash will be credited with this amount.
(assuming no cash over/short).
= $254.12
Each of these amounts will be debited to
the respective GL expense accounts.
______________
FIGURE 10.34
