1) The credit recorded in the journal to replenish the petty cash fund is to: a)

Question

1) The credit recorded in the journal to replenish the petty cash fund is to:

a) Petty Cash.

b) Accounts Receivable.

c) Accounts Payable.

d) Cash.

2) Which of the following accounts would most likely be debited in the replenishment of petty cash?

3)The credit recorded in the journal entry to establish the petty cash fund is to:

4) The entry to replenish the petty cash fund included a debit to Equipment instead of Supplies for the purchase of supplies. This would cause:

7) Determine the cash short (-) or over (+) given the following:
The balance per the Petty Cash account $75
The count of coin and currency amounts to $27
There are receipts: for gas of $9, for office supplies of $18, for first aid supplies $14
$ ________

8)Wages and Salaries Payable would be used to record:

9)The debit amount to Payroll Tax Expense represents:

10) What is debited if State Unemployment Tax Payable (SUTA) is credited?

Explanation / Answer

a) corrct option is "d" cash

b) "D" -petty cash

c) "A" -cash

d)"D" -supplies to be understated

e)"A" -new check written

f)"B"Recorded in general journal

g)The cash is overstated as per petty cash

h)"C" -Net earning s of employees not paid

i)"C" - the employer's portion of the payroll taxes

j)"C" -Salaries Expense

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