for any person

1. Create a Petty Cash Account
Prepare Petty Cash Slips
Replenish Petty Cash and create journal entries
Petty Cash

2. 2
LESSON 5-4
ESTABLISHING A PETTY CASH FUND page 134
August 17. Paid cash to establish a petty cash fund, $100.00.
Check No. 8.
Wrote check #8 to establish a Petty Cash Fund.

3. 3
LESSON 5-4
MAKING PAYMENTS FROM A PETTY CASH
FUND WITH A PETTY CASH SLIP page 135
As money is taken from the Petty Cash fund to pay for small items, a
Petty Cash slip is completed and put in the Petty Cash “box”.

4. 4
LESSON 5-4
1. Write the date.
REPLENISHING PETTY CASH page 136
1 4
August 31. Paid cash to replenish the petty cash fund, $30.00:
miscellaneous expense, $20.00; advertising, $10.00. Check No. 12.
4. Write the source document number in the Doc. No. column.
3. Write the title of the account credited. Record the credit amount.
2. Write the title of the first account debited. Write the debit amount.
Write the title of the second account. Record the debit amount.
2
3

5. 5
LESSON 4-2
Replenish Petty Cash
What is result with T Accounts?
Miscellaneous Expense Cash
20.00 30.00
10.00
Advertising Expense
Wrote check #12 to replenish Petty Cash. Petty Cash slips indicated
$20 spent on Misc Exp; $10 spent on Advertising.

6. 6
LESSON 4-2
Replenish Petty Cash
What happens if Cash is over or short?
Miscellaneous Expense Cash
20.00 35.00
10.00
Advertising Expense
Wrote check #12 to replenish Petty Cash. Petty Cash slips indicated $20
spent on Misc Exp; $10 spent on Advertising. Cash count in Petty cash box
is $65 and should be replenished to equal $100.
Journal Entries:
Debit Misc Expense 20.00
Debit Advertising Expense 10.00
Debit Cash Over/Short 5.00
Credit Cash 35.00
Cash Over/Short
5.00