The journal entry to establish a petty cash fund is the following: a. Dr. Petty Cash $XXX,
Question:
The journal entry to establish a petty cash fund is the following:
a. Dr. Petty Cash $XXX, Cr. Cash $XXX
b. Dr. Petty Cash $XXX, Cr. Supplies $XXX
c. Dr. Cash $XXX, Cr. Petty Cash $XXX
d. Dr. Cash Over and Short $XXX, Cr. Petty Cash $XXX
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
a Dr P...View the full answer
Answered By
Caroline Kinuthia
Taking care of the smaller details in life has a larger impact in our general well being, and that is what i believe in. My name is Carol. Writing is my passion. To me, doing a task is one thing, and delivering results from the task is another thing. I am a perfectionist who always take things seriously and deliver to the best of my knowledge.
4.90+
1934+ Reviews
4276+ Question Solved
Related Book For
Fundamental Accounting Principles Volume I
ISBN: 978-1260305821
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
Question Posted:
Students also viewed these Business questions
-
Cameron Co. established a $150 petty cash fund on January 1, 2014. One week later, on January 8, the fund contained $29.25 in cash and receipts for these expenditures: postage, $42.00;...
-
Petty Cash Mc Mann, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April. 1. On...
-
McMann, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April. 1. On April 1, it...
-
The largest government expenditure for Japan & the US is... a) military / defense b) transfer payments c) education / healthcare d) infrastructure
-
Which of the following sequences is defined recursively? (a) an = 4 + n (b) bn = 4 + bn1
-
Multiple IRRs This problem is useful for testing the ability of financial calculators and computer software. Consider the following cash flows. How many different IRRs are there? (Hint: Search...
-
Give examples from your experience or observation of each of the four tasks of management.
-
A retail outlet sells a seasonal product for $10 per unit. The cost of the product is $8 per unit. All units not sold during the regular season are sold for half the retail price in an end-of-season...
-
Camden Biotechnology began operations in September 2 0 2 4 . The following selected transactions relate to liabilities of the company for September 2 0 2 4 through March 2 0 2 5 . Camden's fiscal...
-
The following classification scheme typically is used in the preparation of a balance sheet: a. Current assets b. Investments and funds g. c. Property, plant, and equipment d. Intangible assets i....
-
Credit card transactions typically cost companies a fee. This cost is recorded as: a. Cost of Goods Sold b. Sales c. Credit Card Expense d. Merchandise Inventory
-
Yardworx reconciled its book balance of Cash with its bank statement balance on April 30 and showed two cheques outstanding at that time, #1771 for $15,463.10 and #1780 for $955.65. The following...
-
The following are the transactions in respect of purchase and issue of components forming part of an assembly of a product manufactured by a firm which requires to update its cost of production, very...
-
You are an external auditor in a firm that undertakes the audit of Canadian Life and Mutual (CLM), a large, Montreal-based financial institution. CLM relies heavily on its computer-based information...
-
You need to temporarily increase the feed rate to an existing column without flooding. Since the column is now operating at about \(90 \%\) of flooding, you must vary some operating parameter. The...
-
Consider, again, the clothing data set. Obtain the three summary plots of the sample cross-correlations for lags 1 to 21.
-
Based on the dangling-else discussion in Exercise 3.27, modify the following code to produce the output shown. Use proper indentation techniques. You must not make any additional changes other than...
-
Consider the random process \(U(t)=A\), where \(A\) is a random variable uniformly distributed on \((-1,1)\). (a) Sketch some sample functions of this process. (b) Find the time autocorrelation...
-
In this exercise, you will modify the program from Lab 9-1 in Chapter 9. Follow the instructions for starting C++ and viewing the TryThis10.cpp file, which is contained in either the...
-
How does Kant answer Humes bundle theory of self? Do you think he is successful?
-
Goth Inc. issued a group of bonds on January 1, 2020, that pay interest semiannually on June 30 and December 31. The par value of the bonds is $100,000, the annual contract rate is 10%, and the bonds...
-
ZedCon Inc. intends to raise $10,000,000 for the purpose of expanding operations internationally. Two options are available: ? Plan 1: Issue $10,000,000 of 5% bonds payable due in 2030, or ? Plan 2:...
-
5-Star Adventures Inc. financed its $1,000,000 expansion by issuing on January 1, 2020, a 5%, 10-year bond dated the same day with annual interest payments to be made each December 31. The market...
-
You are considering the purchase of new living room furniture that costs $1,180. The store will allow you to make weekly payments of $25.89 for one year to pay off the loan. What is the EAR of this...
-
Question 17 (2 points) An increase in assets: Increases income Does not affect cash Increases cash Reduces cash
-
Martell Mining Companys ore reserves are being depleted, so its sales are falling. Also, because its pit is getting deeper each year, its costs are rising. As a result, the companys earnings and...
Study smarter with the SolutionInn App