Question: Brown Industries plans to decrease a $ 2 8 0 petty cash fund to $ 1 1 5 . The current balance in the account

Brown Industries plans to decrease a $280 petty cash fund to $115. The current balance in the account includes $35 in receipts and $245 in currency. The entry to reimburse and reduce the size of the petty cash fund will include a:
Multiple Choice
debit to Cash for $130.
debit to Petty Cash for $75.
debit to Petty Cash for $115.
credit to Cash for $130.
Brown Industries plans to decrease a $280 petty cash fund to

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!

Q:

Chapter 7 Tutorial Solutions INTERNAL CONTROLS Instructions: Complete the questions below by determining if questions 1-10 are TRUE OR FALSE and questions 11-20 select the correct answer. 1. A...

Q:

Z-Mart had $43 in missing petty cash receipts. The correct procedure is to OO Debit Cash Over and Short for $43 Credit Cash Over and Short for $43 Debit Petty Cash for $43 Credit Petty Cash for $43...

Q:

Question 2 Not yet an A cheque that was outstanding on last month's bank reconciliation was not among the cancelled cheques returned by the bank this month. As a result, in preparing this month's...

Q:

Z - mart plans to eliminate petty cash fund. the current balance in the account includes $ 4 5 in receipts and $ 1 6 5 in currency. The entry to elimnate the fund will include a ) credit to cash for...

Q:

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...

Q:

Brown Industries plans to decrease a $390 petty cash fund to $170. The current balance in the account includes $35 in receipts and $355 in currency. The entry to reimburse and reduce the size of the...

Q:

) The person or company to whom a check is payable is called the payee. 2) Checks that have been processed by the bank and are no longer negotiable are called outstanding checks. 3) Bad debts are...

Q:

8 Brown Industries plans to decrease a $220 petty cash fund to $85. The current balance in the account includes $35 in receipts and $185 in currency. The entry to reimburse and reduce the size of the...

Q:

See project.xlsx Narrative and Instructions Rockford Corporation is a wholesale plumbing supply distributor. The corporation was organized in 1981, under the laws of the State of Illinois, with an...

Q:

Brown Industries plans to decrease a $300 petty cash fund to $125. The current balance In the account Includes $35 In recelpts and $265 In currency. The entry to relmburse and reduce the size of the...

Q:

With regards to three expectation questions that address the guests experience: (1) What information can Christy learn from these three questions; (2) What additional information would be helpful to...

Q:

On 1st October, 2021 an entity N made payment in amount of 1,800 euro for an insurance policy covering one year, which takes effect on 1st October till 30 September, 2022. You are required to show: ...

Q:

This year J and W paid $ 3 , 0 0 0 interest on a qualified education loan and have AGI of $ 1 2 5 , 0 0 0 . Their filing status is married filing jointly. Their interest expense deduction is $ 3 , 0...

Q:

Can you design a more efficient algorithm than the one based on the bruteforce strategy to solve the closest - pair problem for n points x 1 , x 2 , dots, x n on the real line?