Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The custodian of a $ 4 5 0 petty cash fund has $ 6 2 . 5 0 in coins and currency plus $ 3

The custodian of a $450 petty cash fund has $62.50 in coins and currency plus $382.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include
a
A credit to Cash for $387.50
b
A credit to Cash Over and Short for $5.00
c
A debit to Petty Cash for $382.50
d
A debit to Miscellaneous Expenses for $377.50

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Managerial Accounting Tools for Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly

3rd Canadian edition

978-1118727737, 1118727738, 978-1118033890

More Books

Students also viewed these Accounting questions

Question

What is the difference between emergency work and public work?

Answered: 1 week ago