Author Question: Kohen Co establishes a Petty Cash Fund of 100 . During the month, Kohen Co made the following ... (Read 41 times)

EY67 · **on:** Jul 6, 2018

Kohen Co establishes a Petty Cash Fund of 100 . During the month, Kohen Co made the following payments from its Petty Cash Fund: Bought pencils and pens, 15.00 Paid postage on packages, 12.00 S. Kohen, the owner, withdrew 45.00 for personal use. The journal entry to reimburse the fund would be:
a. Petty Cash Fund 72
Cash 72
b. Cash 28
Petty Cash Fund 28
c. Supplies 15
Miscellaneous Expense 12
S. Kohen, Drawing 45
Cash 72
d. Supplies 15
Miscellaneous Expense 12
S. Kohen, Drawing 45
Petty Cash Fund 72

Question 2

The statement of cash flows shows the changes in the balance sheet accounts between periods.

Indicate whether the statement is true or false