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yan [13]
3 years ago
13

Meng Co. maintains a $300 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represe

nt $80 for office supplies, $160 for merchandise inventory, and $20 for miscellaneous expenses. There is a cash shortage of $8. The journal entry to replenish the fund on January 31 is:Multiple ChoiceA. Dr. Office Supplies, $80; Dr. Merchandise inventory, $160; Dr. Miscellaneous expenses, $20; Dr. Cash over and short, $8; Cr. Petty cash, $268.B. Dr. Office Supplies, $80; Dr. Merchandise inventory, $160; Dr. Miscellaneous expenses, $20; Cr. Cash over and short, $8; Cr. Petty cash, $252.C. Dr. Office Supplies, $80; Dr. Merchandise inventory, $160; Dr. Miscellaneous expenses, $20; Cr. Cash over and short, $8; Cr. Cash, $252.D. Dr. Office Supplies, $80; Dr. Merchandise inventory, $160; Dr. Miscellaneous expenses, $20; Dr. Cash over and short, $8; Cr. Cash, $268.E. Dr. Office Supplies, $80; Dr. Merchandise inventory, $160; Dr. Miscellaneous expenses, $20; Cr. Cash over and short, $8; Cr. Petty cash, $400.
Business
2 answers:
Leno4ka [110]3 years ago
7 0

Answer:

THE ANSWER IS "A". Dr. Office Supplies, $80; Dr. Merchandise inventory, $160; Dr. Miscellaneous expenses, $20; Dr. Cash over and short, $8; Cr. Petty cash, $268.

DR: PETTY CASH             $268

CR: CASH/BANK              $268

BEING REIMBURSEMENT OF PETTY CASH EXPENSES FROM CASH OR BANK

Explanation:

THE PETTY CASH OF MENG CO. HAS TO BE REPLENISHED WITH THE AMOUNT SPENT OUT OF IT ($268) IN ORDER TO MAKE IT UP TO A FUND OF $300. THIS CAN BE DONE FROM THE CASH OR BANK ACCOUNT.

ALSO NOTE THAT SINCE THE AMOUNT OF CASH SHORTAGE IS YET TO BE ACCOUNTED FOR BY THE PETTY CASHIER, THE AMOUNT WILL BE DEBITED TO A SUSPENSE ACCOUNT (CASH OVER OR SHORT) PENDING THE TIME IT IS RESOLVED BEFORE IT WILL BE TRANSFERRED TO THE NECESSARY ACCOUNT IT WAS MEANT FOR.

tatuchka [14]3 years ago
5 0

Answer:

What the answer jk

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Nineteen-year-old Devon can tell to his parents on giving the disapproval of credit card that He needs a credit card if he wants to make any online purchases.

<h3>What is credit card?</h3>

A credit card is one that is offered to consumers and applied to make acquisitions with the thought that the cardholder will eventually return to the card issuer.

This return eventually for the cost of the things purchased, as well as any agreed-upon fees and interest, if any.

In the above case, Nineteen-year-old Devon wishes to acquire a credit card, but his parents feel it is not a smart idea.

What fiscally sensible argument can Devon present should get his parents to require a credit card if he intends to make any online transactions.

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2 years ago
When reviewing a research report, you determine that all aspects of a study systematically and logically follow from the researc
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Answer:

Accuracy

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So, when the research report is reviewed, the person would able to determine or asses all the aspects or facts or elements of the study which are logically as well as systematically follow from the problem of the research. Then the condition which is fulfilled or achieved is the accuracy level of the report.

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4 years ago
Saira, Inc. has the following income statement (in millions): SAIRA, INC. Income Statement For the Year Ended December 31, 2014
Marizza181 [45]

Answer:

b. 60%

Explanation:

The computation of percentage is assigned to Cost of Goods Sold is shown below:-

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Sales                                  $300      $100

Cost of Goods Sold          $180         $60  ($180 ÷ $300) × 100

Gross Profit                      $120        $40  ($120 ÷ $300) × 100

Operating Expenses          $45          $15  ($45 ÷ $300) × 100

Net Income                      $75          $25 ($75 ÷ $300) × 100

Percentage assigned to cost of goods sold = Cost of goods sold ÷ Sales × 100

= $180 ÷ $300 × 100

= 60%

Therefore for computing the percentage is assigned to Cost of Goods Sold we simply applied the above formula.

3 0
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Answer:

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less

more

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8 0
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inessss [21]

Answer:

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