A company wants to decrease its $200 petty cash fund to $175. The entry to reduce the fund is: Multiple Choice 1. Debit Cash Over and Short for $25; credit Petty Cash $25. 2. Debit to Cash $25; credit Petty Cash $25. 3. Debit Miscellaneous Expenses $25; credit Cash $25. 4. Debit Petty Cash for $175; debit Cash Over and Short $25; credit Cash $200. 5. Debit Petty Cash $25; credit Cash $25.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A company wants to decrease its $200 petty cash fund to $175. The entry to reduce the fund is: Multiple Choice 1. Debit Cash Over and Short ...” 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
Donald Gilmore has $100,000 invested in a 2-stock portfolio. $72,500 is invested in Stock X and the remainder is invested in Stock Y. X's beta is 1.50 and Y's beta is 0.70. What is the portfolio's beta? Select the correct answer.
Answers (1)
In which situation would a savings bond be the best investment to earn interest? saving to open a business in ten years saving for car repairs in one year saving for home remodeling in six years saving to pay a tax bill in four months
Answers (1)
The practice of integrating biocontrol, crop rotation alternative tillage methods, and chemical use is called
Answers (1)
artin wants to provide money in his will for an annual bequest to whichever of his living relatives is oldest. That bequest will provide $ 1 comma 000 in the first year, and will grow by 7 % per year, forever.
Answers (1)
The fundamental relationship between savings and investment spending in an economy is that: A. savings will increase as investment spending decreases. B. investment spending and savings are always equal. C.
Answers (1)
New Questions in Business
When Benjamin purchased a camera at Best Buy, the cashier asked him for his home zip code. Which of the following approaches was Best Buy using to identify the trade area for the store?
Answers (1)
Alfred, a trader at the New York Stock Exchange (NYSE), executes the decisions made by investors and takes action based on requests by different buyers and sellers in the market.
Answers (1)
Bloom's Garden Center Company Selected data from the financial statements of Bloom's Garden Center are provided below.
Answers (1)
In September, Amina hired Bryan as a delivery man. Bryan was to commence work on 1 November. On 1 October, Amina wrote to Bryan telling him that, despite their agreement, economic circumstances were such that she no longer required his services.
Answers (1)
Which do you prefer: a bank account that pays 5 %5% per year (EAR) for three years or: a. An account that pays 2.5 %2.5% every six months for three years? b. An account that pays 7.5 %7.5% every 18 months for three years? c. An account that pays 0.
Answers (1)