A company has decided to start a petty cash fund for $150. Which of the following is
Question:
A company has decided to start a petty cash fund for $150. Which of the following is the correct journal entry?
A.
B.
C. No entry is required.
D.
Transcribed Image Text:
Petty Cash Cash 150 150
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 87% (8 reviews)
A Petty cash 150 Cash 150 This is the correct jou...View the full answer
Answered By
Hafiz Muhammad Safdar Ali
I have been a tutor for the past 5 years. I have experience working with students in a variety of subject areas, including computer science, math, science, English, and history. I have also worked with students of all ages, from elementary school to college. In addition to my tutoring experience, I have a degree in education from a top university. This has given me a strong foundation in child development and learning theories, which I use to inform my tutoring practices.
I am patient and adaptable, and I work to create a positive and supportive learning environment for my students. I believe that all students have the ability to succeed, and it is my job to help them find and develop their strengths. I am confident in my ability to tutor students and help them achieve their academic goals.
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
The journal entry to record the completion of a job in a job costing system is: A. Finished Goods Inventory xx Materials Inventory XXX B. Work-In-Process Inventory XXX Applied Manufacturing Overhead...
-
A company has decided to market its products more aggressively. Current sales are 30,000 units per year and are expected to increase by 50% next year. Carrying costs are $0.20 per unit, and order...
-
Which of the following is not required by generally accepted auditing standards? a. Written representations. b. Attorney letter. c. Management letter. d. Engagement letter.
-
Who are the uppers in your life? Do you have any downers or vultures?
-
What are commitments, and why should commitments also match your goals and priorities in life? How can you take steps to eliminate mismatches?
-
What factors relevant to database design are uncovered during the initial study phase?
-
Identify five errors and irregularities that may occur in (a) executing and (b) recording sales transactions.
-
A Barberton Glass Co. truck was transporting large sheets of glass down the highway. Elliot Schultz was driving his automobile some distance behind the truck. Because of the negligent way that the...
-
You are given a binary string A of length B. You have an operation where you can flip a substring of A such that 1 becomes 0 and vice-versa. You have to find out the number of ordered pairs (X, Y)...
-
What is meant by the term decision analysis?
-
What should be done if differences are found between the bank statement and the book account?
-
Petty cash is used to ________. A. Avoid having to use checks frequently B. Make small payments C. Avoid having to retain receipts because the amounts are very small D. Avoid having to get approvals...
-
(a) Give the structure of the Claisen condensation product of ethyl phenylacetate (C6H5CH2COOCH2CH3). (b) What ketone would you isolate after saponification and decarboxylation of this Claisen...
-
Lab 2-Simple Web Page Generation Background A natural arch is a rock formation with an opening underneath it. There are a variety of natural arches that can be visited in the state of Ohio. The Ohio...
-
Plaster casts for broken bones need to be customized, are uncomfortable to wear, and make travel difficult. Design requirements: You have been hired as a product designer to re - imagine the...
-
Stretching beyond what is familiar can help you develop both growth mindset and grit. Here, you are asked to connect two important core curriculum goals, communication and quantitative reasoning. We...
-
Assets 5 Current assets A Best Buy Co., Inc. Consolidated Balance Sheets $ millions, except per share amounts Cash and cash equivalents Receivables, net O Merchandise inventories 0 Other current...
-
Search Done 2:00 Homework #11 4 2.5 points eBook Hint Print References Mc Graw Hill < ezto.mheducation.com Saved ave & Exit Conversion price < Prev AA C Assume that you purchased a $1,000 convertible...
-
Let A be an n à n matrix and let I be the n x n identity matrix. (a) If A2 = 0, verify that (1-A)-1 = I + A. (b) If A3 = 0, verify that (1-A)-1 = I + A + A2 (c) Find the inverse of (d) If A" =...
-
A liquid flows upward through a valve situated in a vertical pipe. Calculate the differential pressure (kPa) between points A and B. The mean velocity of the flow is 4.1 m/s. The specific gravity of...
-
Describe the two important factors in selecting an overhead allocation base.
-
What cost information is recorded on the debit side of the manufacturing overhead account, and what information is recorded on the credit side?
-
When is manufacturing overhead underapplied? When is it overapplied?
-
I borrowed $21,500 for 6 years at 8.48%. Assuming that I make all of my monthly payments as scheduled, how much will I owe at the end of 3 years?
-
Comparing Net Present Value with Internal Rate of Return 1. Starting from the Excel spreadsheet and using the =IRR(values,[guess]) Excel function, calculate the Internal Rate of Return (IRR) for...
-
Hedging EUR currency risk from the US perspective Terabit Inc is an American exporting company of electronic components to countries in the Euro area. The company mainly sells its products in Euro,...
Study smarter with the SolutionInn App