Use the Following Information to Answer Questions
the Petty

question 59

Multiple Choice

Use the following information to answer questions
The petty cash fund of CHF250 for the Hansen Company appeared as follows on July 31, 2011:
$\begin{array}{lr}\text { Cash }&\text { CHF } 7.50\\\text { Petty cash vouchers }\\\text { Freight-in } & \text { CHF88.50 } \\\text { Postage } & 45.00 \\\text { Balloons for a special occasion } & 27.00 \\\text { Client entertainment } & 65.00\end{array}$

On July 31, the office manager gives instruction to increase the petty cash fund to CHF300.
-The journal entry to increase the petty cash fund would include

• A) credit to Cash for CHF292.50.
• B) Credit to Petty Cash for CHF242.50.
• C) debit to Cash for CHFg2.50.
• D) debit to Petty Cash for CHF50.

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Definitions:

Control Cycle

The control cycle is a management process for monitoring and evaluating performance, implementing corrective actions to align outcomes with goals, typically involving planning, execution, and review stages.

ALU

Arithmetic Logic Unit, the part of a computer processor that performs arithmetic and logic operations on the operands in computer instruction words.

Nonvolatile Storage

A type of storage media that retains data even when not powered, ensuring long-term data preservation; examples include hard drives and flash memory.

Volatile Storage

Memory that requires power to maintain the stored information; it loses its contents when the power is turned off.