A petty cash fund was established with a $200 balance. It currently has cash of $35 and petty cash tickets as follows: Office expense $130 and Entertainment Expense $45. Which of the following would be included in the journal entry to replenish the Petty Cash fund?
A) debit to Cash Short & Over for $25
B) credit to Cash Short & Over for $10
C) credit to Cash Short & Over for $25
D) debit to Cash Short & Over for $10
B) credit to Cash Short & Over for $10
You might also like to view...
In the market development growth strategy, companies grow by selling their existing products
and services into new markets. Indicate whether the statement is true or false
In a Dutch Internet auction, a single seller puts up a single item for bidding
Indicate whether the statement is true or false
In deciding if a no-load mutual fund is a good investment for you, you should carefully consider all of the following except
A) the fund's investment objective. B) the fund's previous managers. C) the fund's investment strategy. D) your risk tolerance level.
A journal entry for a $65 payment for rent expense was posted as a debit to Salaries Expense and a credit to Cash. Which of the following statements correctly states the effect of the error on the trial balance?
A) The sum of the credits will equal the sum of the debits. B) The sum of the debits will exceed the sum of the credits by $65. C) The sum of the debits will exceed the sum of the credits by $130. D) The sum of the credits will exceed the sum of the debits by $130.