A Petty Cash Fund Was Established with a $600 Balance

question 49

Multiple Choice

A petty cash fund was established with a $600 balance. It currently has cash of $25 and petty cash tickets as shown below. Which of the following would be the journal entry to replenish the Petty Cash account?

• A)Debit to Cash Short & Over for $55
• B)Credit Cash Short & Over for $55
• C)Debit Petty Cash $55
• D)Credit Petty Cash $55

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Definitions:

Identity Crises

Periods of doubt and uncertainty about oneself that often involve questioning one's own identity and values, essentially a rephrased definition of identity crisis.

Loyalty Oath

A pledge of allegiance or faithfulness to a particular group, organization, or sovereign, often required to ensure trust and loyalty.

Father Figure

A man who provides guidance, support, and protection, often serving a role model, but not necessarily one's biological father.

Erikson

Refers to Erik Erikson, a developmental psychologist known for his theory of psychosocial development across eight stages in life.