Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the effect of a $0.75 shortage in the petty cash fund when the custodian requests a replenishment cheque? Assume the petty cash fund

What is the effect of a $0.75 shortage in the petty cash fund when the custodian requests a replenishment cheque? Assume the petty cash fund is replenished at the end of every month.

  • A
  • :
  • the total expense this month will be $0.75 more than the total of the receipts submitted
  • B
  • :
  • the total expense next month will be $0.75 more than the total of the receipts submitted
  • C
  • :
  • the total expense this month will be $0.75 less than the total of the receipts submitted
  • D
  • :
  • the total expense next month will be $0.75 less than the total of the receipts submitted

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

Payroll Accounting

Authors: Bernard J Bieg, Judith A Toland

24th Edition

1285437063, 9781285437064

More Books

Students also viewed these Accounting questions