or i rotena Control ty cash fund was established with a $350 balance. t curronly

Question

or i rotena Control ty cash fund was established with a $350 balance. t curronly has canh of 145 and penty cash uh the entry to replenish the fund? ance. It currently has cash of $45 and petty cash ückets totaling $305. Which the tolowing would be included in O A. a credit to Cash for $45 O B. a credit to Cash for $305 O C. a debit to Petty Cash for $45 D. a credit to Petty Cash for $305 A check was written by a business for reconciliation? . O A. an addition on the book side O B. a deduction on the bank side O c. an addition on the bank side O D. a deduction on the book side

Explanation / Answer

Answer B. a credit to cash for $305 Journal entry to pass to replenish the fund is: Salary & Wages Expenses                 Dr.            305    To Cash            305 Answer d. a deduction on the book side Check - Actually Paid or written            549 Recorded in Books            459 Difference               90 The check was recorded at less amount by the $90 in the books. So, the journal entry to be passed for correction of error: Accounts Receivable                          Dr. 90    To Cash 90

Related Questions

Navigate

• Browse (All)
• Browse O
• Subjects

---

---

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