Jackson Brothers decided to create a petty cash fund. They estimated that $200 would be needed in the fund. Demonstrate the correct journal entry to create the account by choosing the correct action from those below. A. Miscellaneous Expense is debited for $200; Cash is credited for $200. B. Cash is debited for $200; Petty Cash is credited for $200C. Petty cash is debited for $200; Cash is credited for $200D. Petty cash is credited for $200; Miscellaneous Expense is debited for $200
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Jackson Brothers decided to create a petty cash fund. They estimated that $200 would be needed in the fund. Demonstrate the correct journal ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
You own and operate a bike store. Each year, you receive revenue of $200,000 from your bike sales, and it costs you $100,000 to obtain the bikes. In addition, you pay $20,000 for electricity, taxes, and other expenses per year.
Answers (1)
In medieval Europe an important technological advance was the use of the padded horse collar for plowing. Once this idea was thought of, other people used it.
Answers (1)
Why did thousands of russians citizens march on st. petersburg in 1905?
Answers (1)
In 2012 the change in business inventories is - $70 billion and GDP is $200 billion. Final sales in 2012 Group of answer choices are $130 billion. are $200 billion. are $270 billion. are $340 billion.
Answers (1)
You are considering purchasing a warehouse. The cost to purchase the warehouse is $491,000. Renting the equivalent space costs $19,400 per year. Required: 1. If the annual interest rate is 6.
Answers (1)
New Questions in Business
Torres travel's stockholders' equity at the beginning of march 2014 was $200,000. during the month, the company earned net income of $50,000 and paid dividends of $10,000. at the end of march 2014, what is the amount of stockholders' equity?
Answers (1)
In the Keynesian model, it is assumed that, when demand for a firm's product changes, the firm: A. changes prices to meet the demand. B. changes production levels to meet the demand. C. changes prices and production levels to meet demand. D.
Answers (1)
If you purchased a camera in Britain for 100 pounds what would be the price in U. S. dollars if one pound is worth 1.40? A:71 B:100 C:140 D:1400
Answers (1)
Gontier corporation stock currently sells for $64.18 per share. the market requires a return of 12 percent on the firm's stock. required: if the company maintains a constant 5.
Answers (1)
If someone asked you, "Why should I bother worrying about my credit score?" what would you say?
Answers (1)