According to the tort doctrine of <u>respondeat superior</u> , any time an employee is liable for tortious acts in the scope of employment,
<h3>What is tortious acts?</h3>
Tortious acts is an act that occur when a person is harm as a result of another action which inturn lead to legal liability for the person who committed the act.
Hence, Respondeat superior stated that an when an employee is liable for committing tortious acts the employer is as well liable for the same act.
Learn more about Tortious acts here:
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Answer:
$2,171,762
Explanation:
since there is not enough room here I used an excel spreadsheet
Answer and Explanation:
The Journal entry is shown below:-
September 9
Petty cash fund Dr, $400
To Cash $400
(Being establishment of petty cash fund is recorded)
Here we debited the petty cash fund as assets is increasing while we credited the cash is decreasing.
September 30
Merchandise Inventory Dr, $51
Postage expense Dr, $73
Cash Short and over Dr, $13
Miscellaneous Dr, $141
To Petty Cash $278
(Being reimburse of petty cash find is recorded)
Here we debited the merchandise Inventory, postage expense, cash short and over and miscellaneous as it is expenses while we credited the petty cash as is reimbursed.
October 1
Petty cash fund Dr, $60
($460 - $400)
To Cash $60
(Being increase in petty cash fund is recorded)
Here we debited the petty cash fund as assets is increasing while we credited the cash is decreasing.
