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Yuliya22 [10]
3 years ago
13

When a petty cash fund is in use: Multiple Choice Cash is debited when funds are replenished. Petty Cash is credited when funds

are replenished. Expenses paid with petty cash are recorded when the fund is replenished. Petty Cash is debited when funds are replenished. Expenses are not recorded.
Business
1 answer:
Elena-2011 [213]3 years ago
5 0

Answer:

The correct answer is letter "C": Expenses paid with petty cash are recorded when the fund is replenished.

Explanation:

Petty cash funds are amounts of money companies have handy to take care of small payments. Those payments are too small that do not require a check to be written for their payment. In some companies, each department manages its own petty cash box for expenditures such as unitary office supplies.

<em>For accounting purposes, the transactions incurred with petty cash are recorded only when the petty cash was used in full and a new fund is to be provided.</em>

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Small business in the US provides 64% of new private-sector jobs,  49.2% of private sector employment and 46% of private-sector output. It can be seen clearly from this that small business is a major contributor to employment and output in the US.
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Sheffield Corp. produces three versions of baseball bats: wood, aluminum, and hard rubber. A condensed segmented income statemen
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Answer:

The correct answer is D.

Explanation:

Giving the following information:

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Hard Rubber:

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Crane Company has a balance in its Accounts Payable control account of $9,250 on January 1, 2014. The subsidiary ledger contains
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Answer:

$4,375

Explanation:

Given that,

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= $9,250 + $3,000 + $1,875

= $4,375

5 0
2 years ago
merchandise costing 1200 is sold for 2200 on term 2/30,n/60. If the customer pays within the discount period. Prepare the journa
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Answer:

The journal entries are as follows:

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             To Sales revenue                                              $2,156

(To record the sale)

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(To record the cost of goods sold)

(c) Cash A/c Dr. $2,156

       To Accounts receivables  $2,156

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Answer:

a. Maturing of a product

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This will cause many changes in the strategy as technological innovation would reduce manual labor cost. Also, the organization would need skilled employees to deal with the new technology.

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