Multiple Choice
If a petty cash fund is established in the amount of $350, and contains $300 in cash and $45 in receipts for disbursements when it is replenished, the journal entry to record replenishment should include credits to the following accounts
A) Petty Cash, $45.
B) Petty Cash, $50.
C) Cash, $45; Cash Over and Short, $5.
D) Cash, $50.
Correct Answer:
Verified
Correct Answer:
Verified
Q32: Bank overdrafts, if material, should<br>A)be reported as
Q33: The journal entries for a bank reconciliation<br>A)are
Q34: For the year ended December 31, 2010,
Q35: The interest element for trade receivables<br>A)is usually
Q36: Use the following information for questions <br>On
Q38: In preparing its bank reconciliation for the
Q39: Entries during the first month would include
Q40: Assuming Macoon has used the net method,
Q41: Which of the following is considered cash?<br>A)Certificates
Q42: Imputation is the process of determining an