Home /
Expert Answers /
Accounting /
jonni-martin-is-reviewing-the-cash-accounting-for-cullumber-inc-a-local-hair-salon-martin-39-revie-pa677
(Solved): Jonni Martin is reviewing the cash accounting for Cullumber, Inc., a local hair salon. Martin' revie ...
Jonni Martin is reviewing the cash accounting for Cullumber, Inc., a local hair salon. Martin' review will focus on the petty cash account and the bank reconciliation for the month ended September 30, 2025. She has collected the following information from Cullumber's bookkeeper for this task. Petty Cash 1. 2. The petty cash fund was established on September 2, 2025, in the amount of $300.00. Expenditures from the fund by the custodian as of September 30, 2025, were evidenced by approved receipts for the following. Postage expense Mailing labels and other supplies I.O.U. from employees Shipping charges Newspaper advertising Miscellaneous expense $70.73 35.65 28.75 91.26 43.70 14.72
Jonni Martin is reviewing the cash accounting for Cullumber, Inc, a local hair salon. Martin' review will focus on the petty cash account and the bank reconciliation for the monthended September 30,2025 . She has collected the following information from Cullumber's bookkeeper for this task. Petty Cash 1. The petty cash fund was established on September 2. 2025, in the amount of . 2. Expenditures from the fund by the custodian as of September 30, 2025, were evidenced by approved receipts for the following
Expert Answer
Based on the information provided, here's the breakdown of the expenditures from the petty cash fund for Cullumber, Inc.:- Postage expense: $70.73 - Mailing labels and other supplies: $35.65 - I.O.U. from employees: $28.75 - Shipping charges: $91.26 - Newspaper advertising: $43.70 - Miscellaneous expense: $14.72