Assume that the custodian of a $585.00 petty cash fund has $107.50 in coins and currency plus $463.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include:
A. A debit to Petty Cash for $463.50.
B. A credit to Cash Over and Short for $477.50.
C. A debit to Cash for $449.5.
D. A debit to Cash Over and Short for $14.00.
E. A credit to Cash for $463.50.
Answer: D
You might also like to view...
When creating a work plan, it's important to begin by developing a problem statement
Indicate whether the statement is true or false.
Organization costs become an expense in the time period in which the costs were expended
Indicate whether the statement is true or false
Having a common goal that both the leader and followers agree on is central to which ethical leadership principle?
A. serves others B. builds community C. shows JUSTICE D. respects others
If a VC offers you $2 million for a third of your company, what was your pre-money valuation?
a. $2 million b. $3 million c. $4 million d. $6 million