A Petty Cash Fund Was Established with a $400 Balance

question 140

Multiple Choice

A petty cash fund was established with a $400 balance. It currently has cash of $9 and petty cash tickets as shown below. The journal entry to replenish the account would be which of the following:

• A)Debit to Cash short & over for $1
• B)Credit Cash short & over for $1
• C)Debit Petty cash fund $1
• D)Credit Petty cash fund $1

---

Definitions:

Marketing Strategy

Marketing Strategy is a company's comprehensive plan, including its activities and tactics, aimed at effectively promoting its products or services to its target market to achieve its business objectives.

Playbook

A comprehensive guide outlining strategies, practices, and guidelines in a particular field or for a specific process to achieve desired outcomes.

Situation Analysis

An assessment conducted by an organization to identify its internal strengths and weaknesses, along with external opportunities and threats to craft strategic plans.

Competitive Forces

The various external pressures that businesses face in the marketplace, including competition from other firms, the bargaining power of suppliers and customers, and the threat of new entrants and substitute products.