Gross Company Established a $250 Petty Cash Fund on January

question 34

Multiple Choice

Gross Company established a $250 petty cash fund on January 1,2016.On March 1,2016 the fund contained $160 in receipts for miscellaneous expenses and $85 in cash.The entries necessary to replenish the petty cash fund will

• A)have no effect on total assets.
• B)decrease equity by $160.
• C)increase equity by $165.
• D)decrease assets by $165.

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A physical or psychological response to internal or external pressures, which can affect an individual’s health and well-being.

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