Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A $ 1 5 0 petty cash fund has cash of $ 6 4 and valid receipts for $ 7 5 . The entry to

A $150 petty cash fund has cash of $64 and valid receipts for $75.
The entry to replenish the fund would be:
Cash 86
Various Expenses 75
Cash Short or Over 11
Petty Cash 86
Cash 86
Cash 64
Petty Cash 64
Various Expenses 75
Cash Short or Over 11
Cash 86

Step by Step Solution

3.45 Rating (145 Votes )

There are 3 Steps involved in it

Step: 1

The correct entry to replenish the petty cash fund would be Debit Various Expenses ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

More Books

Students also viewed these Accounting questions