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
lakkis [162]
3 years ago
11

The entry to establish a petty cash fund includes:___________

Business
1 answer:
guapka [62]3 years ago
7 0

Answer:

c) a debit to Petty Cash and a credit to Cash.

Explanation:

According to the golden rule of double of entry that a giver should be credited while a receiver is debited, the cash account is the giver in this case would be credited while the receiver,the petty cash account would be debited on the other hand.

The correct option which corroborates my explain above is option C.

Option A is wrong because the reverse was the case.

You might be interested in
Cash flows directly related to production and sale of the firm's products and services are called?
Leona [35]

A  cash flows directly related to production and sale of the firm's products and services are  called Operating cash flow .

<h3>What is operating cash flows and 3 types of cash flows? </h3>

Cash flow from operating activities indicates the amount of money a company brings in from its ongoing,regular business activities such as manufacturing and selling goods or providing a service to customers. Types of cash flows are cash flow from operating activities, cash flow from investing and cash flow from financing activities.

A firms operating cash flows is the cash flow it generates from  its normal operation producing  and selling its output of goods or services.

to learn more about OCF click here brainly.com/question/17001006

#SPJ9

6 0
1 year ago
A delivery company spent $3,500 last week upgrading one of its trucks. This week the company is trying to decide if this upgrade
rjkz [21]

Answer:

Sunk cost

Explanation:

The sunken cost is the expense previously incurred that will not be compensated in future. Plus, it's also called past expense.  

The cost at the time of decision-making is not significant and it should be ignored.

In the given question, the $3,500 spent which is not now recovered and hence represents the sunk cost

3 0
2 years ago
The Peridot Company purchased machinery on January 2, 2019, for $800,000. A five-year life was estimated and no residual value w
Umnica [9.8K]

Answer:

1.- Without Retrospective effect

2.- No as it comes from a change in estimations not an accounting error.

3.- yes. It will give a full explanation about the reasons to extend the useful life.

4.- Depreciation expense for 2021: 60,000

Explanation:

1.- The change in the useful life does not represent an accounting error. It comes from the estimation process.

800,000 - 160,000 x 2 = 480,000 book value at beginning 2021

480,000 / 8 new useful life = 60,000 depreciation per year.

5 0
3 years ago
A company incurred the following costs for a new delivery​ truck: Purchase price $ 150 comma 000 Sales tax 7 comma 900 Delivery
MrMuchimi

Answer:

$168,200

Explanation:

Given that,

Purchase price = $ 150,000

Sales tax = 7,900

Delivery charge from​ sellers location = 1,200

Special racks for storage = ​3,000

Normal repairs to the truck before it was used for the first time = ​1,100

Signs painted on the truck ​= 2,000

Insurance on truck before it was used for the first time = ​3,000

All the above expenses are included in determining the cost of the delivery truck. Normal repairs to the truck and insurance on truck are also included in the cost of truck because it was incurred before the truck used for the first time.

Cost of the delivery​ truck:

= Purchase price + Sales tax + Delivery charge from​ sellers location + Special racks for storage + Normal repairs to the truck before it was used for the first time + Signs painted on the truck + Insurance on truck before it was used for the first time

= $150,000 + $7,900 + $1,200 + $3,000 + $1,100 + $2,000 + $3,000

= $168,200

5 0
3 years ago
As a team leader you need people to play various roles to ensure you have a high peforming team. if your team has alot of back s
erik [133]
you may be missing a facilitator
4 0
3 years ago
Other questions:
  • When a case is appealed, the court of appeals decides the case solely based upon?
    14·1 answer
  • U.i designs is an all equity firm that has 40000 shares of stock outstanding. the company has decided to borrow $1 million to bu
    6·1 answer
  • Mary Stahley invested $1500 in a 48-month certificate of deposit (CD) that earned 6.5% annual simple interest. When the CD matur
    12·1 answer
  • Rogers, Inc., acquires 15% of Procter Corporation on January 1, 2020, for $70,000. During 2020, Procter reported net income of $
    11·1 answer
  • Friendly’s Quick Loans, Inc., offers you $8.25 today but you must repay $10.45 when you get your paycheck in one week (or else).
    8·1 answer
  • Accounts receivable arising from sales to customers amounted to $80,000 and $65,000 at the beginning and end of the year respect
    14·1 answer
  • Which of the following would not be found in a schedule of noncash investing and financing activities, reported at the end of a
    13·1 answer
  • Determine the tax consequences to Euclid from the following independent events. Round the per share answer to the nearest cent.
    5·1 answer
  • Aulman Inc. has a number of divisions including a Furniture Division and a Motel Division. The Motel Division owns and operates
    15·1 answer
  • Economic growth theory originated about 60 years ago as a result of contributions by: a. adam smith. b. david ricardo. c. ben be
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!