During April,Downtown Iron Works Engaged in the Following Transactions Involving

question 16

Essay

During April,Downtown Iron Works engaged in the following transactions involving it petty cash fund:
$\begin{array}{lll} \underline {\text { Date }}& \underline {\text {Desciotion }}& \underline {\text { Amount }}\\ \text { Apri1 } 1 & \text { Established the petty cash fund by issuing a check to the fund s custodian } & \$ 250 \\\text { April } 4 & \text { The custodian paid for freight charges on new equipment } & 125 \\\text { April } 13 & \text { The custodian paid for postage services on the mailing of blueprints. }&50 \\\text { Apri1 } 21 & \text { The custodian paid for office supplies. } &25\\\text { April } 25 & \text { The custodian requested reimbursement of the petty cash expenditures during the month and } & ?\\&\text { recerves a check to replerish the fund. }\\\end{array}$ Prepare the journal entries necessary to record the company's petty cash transactions.

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Definitions:

Self-regulation

The process by which individuals control or adjust their emotions, thoughts, and behaviors in accordance with their goals.

Tangible Resources

Physical or material assets that can be seen, touched, and used, such as money, property, or equipment.

Intangible Resources

Assets that do not have a physical existence but hold value for an organization, such as brand reputation, intellectual property, or skills and knowledge.

Evolutionary Perspective

A viewpoint focusing on how evolutionary theory, including the principles of natural selection, can explain behavioral and mental processes.