Use the Following Information to Answer Questions on July

question 40

Multiple Choice

Use the following information to answer questions 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 CHF92.50.
• D)debit to Petty Cash for CHF50.

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Definitions:

Preoperational

The stage in Piaget's theory of cognitive development in which children from about 2 to 7 years old develop memory and imagination, but do not yet think logically.

Formal Operational Thought

A stage of cognitive development in which individuals are able to think abstractly, reason logically, and manage problems systematically.

Logical

Pertaining to the use of reason and sound judgment in thinking or arguing.

Abstract

A brief summary of a research article, thesis, review, or other long report on a subject or project.