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Kryger [21]
2 years ago
7

The custodian of a $450 petty cash fund discovers that the fund has $65 in coins and currency plus $382 in receipts at the end o

f the month. The entry to replenish the petty cash fund will include:
Business
1 answer:
Mandarinka [93]2 years ago
8 0

The entry to replenish the petty cash fund will include a credit to cash for $385.

What is petty cash fund?

When regular purchasing techniques are impractical, such as when buying office supplies or paying employees, a tiny sum of money called petty cash is utilized instead.

The entry to replenish the petty cash fund amount will include:

Fund amount : $450 - Used

Fund amount  :$450 - $382 = 68

cash on hand - remaining ; $68 - $65 = $3

Used + remaining ; $382 + $65 = 385

As a result, a credit to cash for $385.

Learn more about on petty cash fund, here:

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He would continue to be troubled by the words. The top tax rate was increased from 28% under Ronald Reagan to 31% by the Omnibus Budget Reconciliation Act of 1990.

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In order to ensure that taxpayers are paying the proper amount of tax at the proper time and obtaining the proper tax allowances and tax reliefs, tax compliance refers to both policy actions and individual behaviour. A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer (A person or legal entity) is used by a government organisation to pay for government expenses and other public expenditures (regional, local, or national). Around 3000–2800 BC, the first recorded taxation was enacted in ancient Egypt. Non-compliance with the law includes failing to pay on time as well as evading or resisting taxation. Taxes can be paid in cash or in the labour equivalent and can be either direct or indirect.

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