A Petty Cash Fund Was Established with a $600 Balance

question 132

Multiple Choice

A petty cash fund was established with a $600 balance.It currently has cash of $150 and petty cash tickets as shown below:

Which of the following would be the journal entry to replenish the Petty Cash account?

• A)debit various expenses $450;credit Cash $450
• B)debit various expenses $450;credit Petty Cash $450
• C)debit Cash $150;credit various expenses $150
• D)credit Petty Cash $450;debit Cash $450

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Definitions:

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The phenomenon whereby individuals exert less effort to achieve a goal when they work in a group than when they work alone.

Self-fulfilling Prophecy

A forecast that becomes a reality due to the positive feedback loop between someone's belief and actions, either directly or indirectly causing its own fulfillment.

Likert Scale

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