62) Robbins Supply journal entry to establish a $100 petty cash fund for the of-

Question

62) Robbins Supply journal entry to establish a $100 petty cash fund for the of- fice would include a: A) credit to Petty Cash for $100. B) credit to Cash for $100. C) debit to Office Expense for $100. D) debit to Cash for $100. 63) The entry to replenish the petty cash fund debited Supplies instead of Post- age Expense. This would cause: A) expenses to be overstated. B) revenues to be understated. C) expenses to be understated. D) revenues to be overstated. 64) An error recording a $72 check as $27 would be included on the bank recon- ciliation as a(n): A) subtraction from the balance per bank. B) subtraction from the balance per books. C) addition to the balance per books. D) addition to the balance per bank.. 65) The amount of federal income tax withheld is computed using the: A) FICA tax tables. B) net earnings and Form W-4. C) employee

Explanation / Answer

B) credit to Cash for $100. C) expenses to be understated The only time Petty Cash is debited is whent the fund is started or when the amount is changed. C) addition to the balance per books. A) FICA tax tables The Percentage Method of Withholding is addressed in this memo which includes extractions from the 2011 Federal Income Tax Withholding Tables (found in the IRS Publication 15, Circular E - Employer's Tax Guide). C) Form 941 D) less than the amount withheld from the employee.

Related Questions

Navigate

• Browse (All)
• Browse 6
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.