Question: A company is setting up a fund that will be used to make small dollar amount cash purchases of office supplies from time-to-time. Which of

A company is setting up a fund that will be used to make small dollar amount cash purchases of office supplies from time-to-time. Which of the following entries would establish a $250 cash fund? ANSWER - Debit cash $250 -Credit petty cash $250 - Debit supplies expense $250 -Debit petty cash $250

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Brothers Mike and Tim Hargenrater began operations of their tool and die shop (H & H Tool, Inc.) on January 1, 2019. The annual reporting period ends December 31. The trial balance on January 1,...

1. Accounting is an information and measurement system that identifies, records, and communicates financial information to users. True False 2. External users of accounting information include: A....

Question 4 (2 points)Determine the net income of a company for which the following information is available for the month of May. Employee salaries expense......$180,000 Interest...

I have attached both the chapters from which you will be answering the following question. Ch 8 (p 387 of text or p 35 of the pdf) ?Exercise D. Prepare the bank reconciliation and any required...

ACC 111 Project 1A On August 1, 2016, Stephanie Ram, a sole proprietor, started a new business, Ram Wholesale Company. The company sells refrigerators (merchandise) to various retail stores and uses...

i just need to complete the excel Frenchies Signature Assignment Joseph Preimesberger posted on Nov 8, 2021 9:35 AM Edited This is a shortened assignment, so just complete the three Excel tabs given...

On August 1, 2016, Stephanie Ram, a sole proprietor, started a new business, Ram Wholesale Company. The company sells refrigerators (merchandise) to various retail stores and uses the periodic...

ve until you gan Term Project 2 ebook 1. Comp Pro 03-01 Comprehensive Problem 3 Instruction Chart of Accounts Labels and Amount Descriptions Journal Bank Reconciliation Instructions Selected...

its clear JOURNAL Score: 201/336 ACCOUNTING EQUATION DESCRIPTION POST. REF CREDIT ASSETS LIABILITIES DATE Dec. 31 DEBIT 18,000.00 EQUITY 1 1 Bad Debt Expense 2 Allowance for Doubtful Accounts...

Instructions Selected transactions completed by Komett Company during its first fiscal year ended December 31, 2045, were as follows: Jan. 3 Issued a check to establish a petty cash fund of $4,500...

What is a syn_flood attack?

Josh, Inc. is faced with the choice of either producing a newly designed product, XX-30, to stock in anticipation of demand or to customer order. The demand for the product is expected to be 5,000...

In computing depreciation, salvage value is ignored in all the depreciation methods. an estimate of a plant asset's value at the end of its useful life. subtracted from accumulated depreciation to...

Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,950 gallons @ $9.10 per gallon = $17,745 Purchases: Sales: Mar. 10 790 gals @ $ 9.15 Mar. 5 590 gals Mar. 16...