1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
atroni [7]
2 years ago
9

A petty cash fund of $500 is established on October 1. The entry to record the transaction is debit Petty Cash, credit Cash. deb

it Cash, credit Petty Cash. debit Petty Cash Expense, credit Cash. debit Retained Earnings, credit Petty Cash.
Business
1 answer:
shusha [124]2 years ago
4 0

The correct option is A) debit Petty Cash, credit Cash.

A petty cash fund of $500 is established on October 1. The entry to record the transaction is "debit Petty Cash, credit cash."

<h3>What is petty cash fund?</h3>

The petty cash fund would be a small sum of company money that is frequently kept on hand (for example, in a secured drawer or box) to cover unimportant or trivial expenses like office supplies or worker reimbursements.

Some key features of petty cash fund are-

  • Petty cash is a minuscule sum of money that is always on hand to cover small expenses that don't warrant submitting a check or paying with a credit card.
  • Each department could possess its own petty cash pool in larger corporations.
  • A petty cash fund could be utilized to pay for office supplies, greeting cards for clients, flowers, catered lunches for staff members, and employee expense reimbursement.
  • The key benefits of using petty cash are its speed, convenience, and simplicity.
  • Petty cash funds feature drawbacks like their susceptibility to theft and abuse and the requirement to regularly check and balance them.

To know more about the petty cash fund, here

brainly.com/question/6893535

#SPJ4

The correct question is -

A petty cash fund of $500 is established on October 1. The entry to record the transaction is

A) debit petty cash, credit cash.

B) debit cash, credit petty cash.

C) debit Petty cash expense, credit cash.

D) debit retained earnings, credit petty cash.

You might be interested in
Match the following terms with their definitions. Salary, rewards, net pay, occupation, costs, benefit, deduction1. a fixed amou
Katena32 [7]

Answer:

1. A fixed amount of money periodically paid to a person for work – Salary

2. The price paid to acquire, produce, or accomplish something – costs

3. The portion of the wages that the employee actually gets to take home - net pay

4. Perks provided by your employer – benefit

5. Something that causes or increases personal satisfaction – rewards

6. An amount that is subtracted from your paycheck employee – deduction

7. A person's usual work or business; a way of earning a living - occupation

Explanation:

1. The salary is defined as the amount received by a person for work, this income does not include any extra benefit. to be considered as a salary it has to be paid periodically.

2. The cost is the expense caused for the production of a product, in the case of a service is the cost of offering it. includes direct and indirect labor force cost, amortized costs of the machinery and supplies (for products).

3. The net pay is the salary amount paid to an employee after the deduction of any amount legally recognized, it may include taxes and other items.

4. The benefits are extra gains that an employer may give to workers, different from the salary amount, it may include bonus or specific medical insurance advantages.

5. The rewards are non-usual prizes or recognitions received by people due to a personal or labor goal.

6. The deduction is al legal reduction done by a company in the payment of an employee.

7. The occupation is the activity that a person develops to obtain living resources, it can include personal business or employment.

4 0
4 years ago
Congratulations! You were the 10th caller on the KMTH morning show and you just won $3,000.00. After you calm down, you decide t
VashaNatasha [74]

Answer:

$4,697.04

Explanation:

In simple words , this question requires us to find the Future Value in 5 years time. We compound the Present Value using the effective interest rate to determine the Future Value of an investment.

<em>PV = $3,000.00</em>

<em>P/YR = 12</em>

<em>N = 5 x 12 = 60</em>

<em>I = 9 %</em>

<em>PMT = $0</em>

<em>FV = ?</em>

Using a Financial calculator to enter the parameters as above the Future Value (FV) is $4,697.04

therefore,

In 5 years time, you will have $4,697.04.

8 0
3 years ago
As a revenue cycle auditor, explain how you will monitor compliance, denials, resubmitted claims, appeals for denied claims, and
goldfiish [28.3K]

Answer:

Ashley should review medical records for documentation compliance for CPT, Level II HCPCS, and diagnosis codes determining that regulations are being complied with as evidenced in medical record documentation; and evaluating appropriateness of billing and coding procedures.

Explanation:

7 0
2 years ago
The ""covenant"" traditionally signifies the a. relationship between Abraham (and later Moses) and Jahweh. b. merging of Judaic
Bogdan [553]

The correct answer to the question above is:

a. relationship between Abraham (and later Moses) and Jahweh.

The covenant was first established by Jahweh with Abraham. He showed his faith to Jahweh’s promises, obedience to His commandments, and worships Him with all his heart.

Download docx
8 0
3 years ago
When the economy is at equilibrium, a) inventories must equal zero. B) there are no leakages. C) leakages equal aggregate demand
jeyben [28]

Answer:D) leakages equal injections

Explanation:

6 0
2 years ago
Other questions:
  • Item 2 item 2 companies such as maybelline often use _____ advertising to convince consumers to take action such as switching br
    6·1 answer
  • Which of the following is a service supplying vehicle title records and damage reports?
    14·2 answers
  • Which kind of norm is so deeply ingrained that the very thought of breaking it brings feelings of disgust or horror?
    15·1 answer
  • The Flapjack Corporation had 8,200 actual direct labor hours at an actual rate of $12.40 per hour. Original
    15·1 answer
  • Jumpin Corporation uses the percentminusofminussales method to estimate uncollectibles. Net credit sales for the current year am
    15·1 answer
  • Q: Research topic: CORONA-19: Asian stock markets and vaccine hopes
    6·1 answer
  • An income statement for Sam's Bookstore for the first quarter of the year is presented below:
    13·1 answer
  • A core aspect of marketing involves a(n) , which is a transaction in which things of value are traded by buyers and sellers.
    12·1 answer
  • Earnings per share should always be shown separately for:.
    11·1 answer
  • piechocki corporation manufactures and sells a single product. the company uses units as the measure of activity in its budgets
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!