A Company Has a Petty Cash Fund Amount of $300

question 12

Multiple Choice

A company has a petty cash fund amount of $300.When replenished,it has petty cash tickets of $30 for gas expense,$33 for postage expense,$16 for supplies expense,and $12 for miscellaneous expenses.Assume the cash balance is not over or short.In the journal entry,Cash would be credited for ________.

• A) $91
• B) $75
• C) $63
• D) $79

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Definitions:

Process Cost System

A cost accounting system used when a company manufactures a large volume of similar products.

Manufacturing Processes

Manufacturing processes are the methods and techniques used to convert raw materials into finished goods.

Connected Manufacturing

The integration of factory equipment, workflows, and systems through the Internet of Things (IoT) to enhance manufacturing processes.

Production Department

Is the division within a manufacturing process that is directly involved in the transformation of raw materials into finished products.