Assume that the custodian of a $450 petty cash fund has $57.10 in coins and currency plus $387.00 in receipts at the end of the month. The entry to replenish the petty cash fund will include:a. A debit to Cash for $388.50. b. A credit to Cash Over and Short for $4.00. c. A debit to Petty Cash for $392.50. d. A credit to Cash for $396.50. e. A debit to Cash for $396.50.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Assume that the custodian of a $450 petty cash fund has $57.10 in coins and currency plus $387.00 in receipts at the end of the month. The ...” 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
Assume the following information about the market and JumpMasters' stock. JumpMasters' beta = 1.50, the risk-free rate is 3.50%. Te market risk premium, i. e. the market return in excess of the risk free rate is 10%.
Answers (1)
A movement along the demand curve might be caused by a change in
Answers (1)
Firms in a perfectly competitive market are said to be "price takers"-that is, once the market determines an equilibrium price for the product, firms must accept this price.
Answers (1)
Vicarious liability is direct liability. a. True b. False
Answers (1)
How much of a market surplus would exist if the government set a price floor of $5 per gallon?
Answers (1)
New Questions in Business
Silver Trading Corp. recorded a net income of $200,000 for the year 2021. For the same period, the company purchased land for $150,000. It sold some of its long term investments for $50,000 during the period.
Answers (1)
What is the term that refers to a form of wealth that can be stored for the future?
Answers (1)
NewLinePhone Corp. is very risky, with a beta equal to 2.8 and a standard deviation of returns of 32%. The risk-free rate of return is 3% and the return on the market is 11%. NewLinePhone's marginal tax rate is 35%.
Answers (1)
Which of the following is a drawback of setting pay rates based strictly on a pay policy line? A. It increases the administrative burden of managing the compensation system. B. Employees have difficulty interpreting regression analysis. C.
Answers (1)
Long-lived assets are: a) non-operating assets expected to yield their economic benefits (or service potential) over a period longer than one year.
Answers (1)