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
beks73 [17]
3 years ago
8

Havermill Co. establishes a $250 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei

pts on that date represent $73 for Office Supplies, $137 for merchandise inventory, and $22 for miscellaneous expenses. The fund has a balance of $18. On October 1, the accountant determines that the fund should be increased by $50. The journal entry to record the increase in the fund balance on October 1 is:

Business
1 answer:
d1i1m1o1n [39]3 years ago
8 0

The journal entry to record the increase in the fund balance on October 1 has been recorded by debiting the petty cash and crediting the cash with $50.  

Further explanation:

Petty cash fund: It refers to the fund established for paying the small amount of expenditures which are incurred on a daily basis. The petty cash fund is suitable for small payments where the check is not useful.

Journal entry: The journal entry is the mode of recording the transactions of the business in the general journal. The transactions are recorded as per debit and credit balances. The transactions are recorded according to date and time.

The journal entry to record the increase in the fund balance on October 1:

Date Accounts Title and Explanation Post Ref. Debit ($) Credit ($)

1-Oct Petty Cash                                                       50  

                     Cash                                                                          50

 (to record the increase in fund balance on October 1)      

The balance of petty cash is debited as it is an asset. The cash has been credited as it has been transferred to the petty cash fund. Thus, the journal entry has been passed by debiting petty cash and crediting cash with $50.

Learn more

1. Average cost and average revenue brainly.com/question/12987402

2. Direct materials efficiency variance brainly.com/question/12987884

3. Cost of materials

brainly.com/question/4783765

Answer details  

Grade: Middle School

Subject: Fundamental Accounting

Chapter: Journal entries

Keywords: Havermill Co., $250 petty cash fund, miscellaneous expenses, $250 petty cash fund, the fund has a balance of, on September 30, the fund is replenished, $137 for merchandise inventory, the journal entry to record, accumulated receipts, office supplies, accountant determines that fund has a balance of $18,  fund should be increased by $50, October 1, date represents.

You might be interested in
What role should government play in a free market economy?
igor_vitrenko [27]
Economists, however, identify six major functions of governments in market economies. Governments provide the legal and social framework, maintain competition, provide public goods and services, redistribute income, correct for externalities, and stabilize the economy.
8 0
3 years ago
Read 2 more answers
the process of using information to link customers, consumers, and the public to the marketer is referred to as _____.
Olegator [25]

Answer:

the process of using information to link customers, consumers, and the public to the marketer is referred to as marketing Research!!

go for it!!

8 0
2 years ago
BMW has developed two new print ads designed to appeal to women.One ad uses local scenes from around its South Carolina plant an
Elden [556K]

Answer:

The correct answer is letter "A": split-run testing.

Explanation:

A split-run test is useful for companies advertising their products through e-mails or print advertisements. The firm takes a sample of the target population and divides the test into two sections to measure the responsiveness of consumers to one and another promotion. The advertisement that ends up resulting in being more beneficial is sent to all the audience the institution has.

3 0
3 years ago
Who is responsible for responding to workflow(s) for equipment dispatch requests through the business workplace require An appro
Roman55 [17]

Answer:

Commander

Explanation:

GCSS-Army is short for Global Combat Support System-Army. The GCSS is a section of the United States Army that is fielded under the 11th Armored Cavalry Regiment. There are the GCSS Wave 1 and GCSS Wave 2. These two groups have different roles.

The role of the Commander falls under the Wave 2 functions where he is required to perform the roles of maintenance, dispatch, unit supply, and property book functions. The Wave 1 function is mostly about allowing access to support supply activity functions. The commanders in any organization they work with can screen several transactions and give approval for equipment dispatch.

7 0
3 years ago
Which ad format gives viewers the choice of whether or not to watch your ad, and helps drive brand consideration?
guajiro [1.7K]
The correct answer is:
TrueView ads

Source, explanation and more info: <span>https://goo.gl/RE2D3U</span>
4 0
3 years ago
Other questions:
  • there is one gas station in a small rural town. the owner of the station claims that he will sell the same quantity of gas, no m
    11·1 answer
  • A. alice produces more lemonade and betty produces more pizzas.
    14·1 answer
  • Which of the following financial packages has the lowest total cost to the student?
    15·2 answers
  • The average of a company's cost of equity, cost of preferred, and aftertax cost of debt that is weighted based on the company's
    6·1 answer
  • As of December 31, 2016, Nala Incorporated reported accounts receivable for $275,000 less allowance for doubtful accounts of $27
    15·1 answer
  • Economic agents who borrow funds are known as debtors ​, the funds that they borrow are referred to as credit ​, and this activi
    7·1 answer
  • Before 1993, the U.S. Forest Service sold timber-cutting rights:
    6·1 answer
  • Carver, Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the co
    13·1 answer
  • is considering permanently shiutting down a department that has an annual contribution margin of $25,000 and $75,000 in annual f
    9·1 answer
  • A measure such as direct labor-hours or machine hours used to assign overhead costs to products and services is called a cost dr
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!